• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Litecoin Founder: Dollar-Cost Average In, Accumulate Crypto Now

Nick Chong by Nick Chong
2 years ago
in Cryptocurrency news, Cryptocurrency Technology
Reading Time: 3min read
Congress, september, cryptocurrency
Advertisement
Nexo Logo
Listen to Article

While crypto prices may have ostensibly kicked the bucket, there are some optimists who have done their best to disregard prices, focusing on the adoption and development of this space instead.

Charlie Lee: Long-Term Price Of A Crypto Indicates Levels of Success

Ever since Bitcoin’s mind-boggling run, from $1,000 to $20,000 and subsequent decline, CNBC’s “Fast Money” show has taken an interest in crypto. While CNBC’s coverage of the crypto market often focuses on short-term price action, predictions, and the like, the founder of Litecoin did his best to focus on another important aspect of this industry in a recent Fast Money appearance.

Litecoin creator Charlie Lee says he wouldn't buy back his #litecoin. Here's why. pic.twitter.com/ghZSHq1VMb

— CNBC's Fast Money (@CNBCFastMoney) August 27, 2018

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Staying true to its name, Fast Money began its crypto segment by querying Litecoin founder Charlie Lee when he sees Bitcoin surpassing $20,000 yet again. Responding by doing his best to stay away from providing a clear prediction, Lee stated:

“I mean its hard to predict prices, and I have been in this space for seven years now. I think sometimes it comes back within six months or a year, but sometimes it takes three to four years. So it’s kind of hard to say.”

Following his reply, CNBC host Melissa Lee then went on to ask the Litecoin founder about if prices, in general, signify the “adoption or viability” of a crypto asset. Dividing his reply into two components, Lee first spoke on a long-term outlook, pointing out that prices do in fact represent the success of an asset. On the other hand, short-term prices “don’t really tell us much.” Backing the latter statement, the Litecoin founder noted that even though adoption rates are rising, Bitcoin, along with a majority of altcoins, still fell by over 70% this year.

This clearly outlines an issue with price speculation, as systems, services, or goods should ideally be valued via the network effect, rather than the short-term irrationality of traders.

Nonetheless, Lee still sees current prices as a more than viable zone of accumulation, giving CNBC viewers advice in the following statement:

“I think it’s good to buy on the way down, to dollar-cost average your buy-in. That’s what I would recommend for everybody to do. As long as you don’t spend money that you can’t afford to lose, I think that this strategy is fine.”

Taking this statement, along with the sentiment held by Wanchain and Shapeshift’s CEOs into account, it becomes clear that now is an optimal time to purchase crypto assets for long-term “hodling”.

“It’s A Good Time For People To Have Their Head Down To Get Stuff Done”

Brian Kelly, CNBC’s go-to crypto analyst, then brought up the topic of the upcoming Litecoin Summit, asking Lee what he wants attendees to take away from the conference. Alluding back to his previous statement regarding the long-term prospects of crypto, Litecoin’s founder, who obviously plays a key role in the event, responded by explaining:

“I would like for people to focus on the technology, adoption, merchant adoption and also how to scale. So things like the Lightning network, sidechains, and things that would help Bitcoin and Litecoin scale… And I think with the price currently depressed, it’s a good time for people to sit down and have their head down and actually working to get stuff done.”

While scaling solutions like the Lightning Network may take years to come to fruition, as Charlie Lee likes to say, “build it and they will come.”

Featured Image from Shutterstock
Tags: bitcoinBitcoin Newscharlie leecnbcCNBC Fast MoneycryptocurrencyLitecoinLitecoin SummitNews
TweetShare
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

router

Emerging DeFi Project Router Protocol Raises Seed Funding, To Launch Cross-Chain Farming Soon

5 hours ago
bitcoin dark web monero

Why The Dark Net’s Most Active Market Ditched Bitcoin For Monero

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Reclaims $40,000 as Powell Rubbishes Taper Tantrum Woes

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

3 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Flickers Near $35,000 as Bond Yields Drop; A Detailed Outlook

3 days ago
bitcoin bar new york

Landmark Real Estate Listing Offers Two New York Bars For 25 Bitcoin

4 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

RAI Finance Pre-sale Finishes in 1 Minute

January 13, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.