Litecoin’s Creator Charlie Lee makes Two Accurate Predictions within one year

Cryptocurrency markets are filled with prediction noise. With Tom Lee predicting Bitcoin to reach to reach $125,000 (he also predicted Bitcoin at $25,000 at this time around) and McAfee staking his privates to bet Bitcoin will reach $1 million by 2020, it’s hard to trust any prediction these days.

But Charlie Lee, the founder of Litecoin, has made two predictions in the past year that came true. Number 1 during the December 2017 bull run, Charlie Lee predicted that Litecoin could eventually suffer a very severe drop before recovering. He predicted LTC’s price to drop to $20 which is pretty close to this year’s low of $23.3.

1. The $20 Prediction

The hype during December last year was sky high, the so-called experts did not realize the gigantic bubble that had formed and been busy predicting Bitcoin and Litecoin to reach $50,000 and $1,000 respectively in 2018. But Charlie warned the users about the risks that they were undertaking by investing in Cryptocurrencies.

Litecoin has dropped a whopping 93% from its all-time high of $375. The bear market is still not over, there are still chances of LTC falling below $20 in the Crypto Winter.

Charlie Lee Tweeted (12th December Last Year):

https://twitter.com/SatoshiLite/status/940353265585160192

The Flappening

The second prediction he made a week back when he predicted that Litecoin will overtake Bitcoin Cash. And this has happened recently. Litecoin increased by 12% and overtook Bitcoin Cash (BCH). Litecoin’s current market capitalization is over $1.5 billion while Bitcoin Cash’s market capitalization is around $1.4 billion. The entire event is now being known as the flappening.

Charlie Lee Tweeted on February 25th This year

https://twitter.com/SatoshiLite/status/1073698443841855488?s=19

Litecoin not only beats Bitcoin Cash (BCH) in market cap but also pretty much overtakes it in other metrics like Active addresses, trading volume, mining rewards, etc.

Image Source: flappening.watch

Blockmanity’s Take

Investors might not trust Charlie Lee for selling $300, but in his defense, he did warn us about the great drop. Which came true. Not many influencers in the cryptocurrency space do get even one prediction right, so for Charlie Lee by getting two predictions right in a year is a tremendous achievement.

Also Read:

Litecoin Will Soon have over 1000 Merchants Accepting Payments Using Lightning Network

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