Categories: LitecoinNews

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):

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

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:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He joined the cryptocurrency space in 2017. He is the founder of Blockmanity. He is a HODLER and is holding BTC, ETH & UGT.

Share
Published by
Ishan Garg

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago