Charlie Lee: Not ready for a 90% Litecoin price correction – don’t buy!

P.S Anyone who follows Lee’s statements should remember that he always warns everyone before Charlie’s fall, I have noticed that this has always happened in the last 2 years.

Due to the fact that Litecoin is approaching its next halving, technologists and industry veterans are paying close attention to its possible consequences.

Since there are a lot of speculations on this topic – from price related to work of the miners, the founder of Litecoin Charlie Lee decided to share his thoughts on this matter.

In particular, Lee said that the “shock” of reducing the remuneration by two times can not only affect the profitability of mining, but also force some miners to temporarily stop their activities:

“For some time the blocks will slow down, but we will reconfigure, and everything will be fine. But this is definitely a shock to the system. ”

He also stressed that for the general public the purchase of cryptocurrencies is tied to profit. Hinting at one of his predictions, Lee reiterated that the ongoing current rise in cryptocurrency prices is directly related to the influx of investments before the halving.

And due to the fact that in such cases, the digital asset market shows inevitable growth, which is used by some skilled traders:

“They (cryptocurrency prices) can fall to $ 20, do not be surprised, this is possible. If you cannot bear a 90% drop, do not buy them, because it will be too risky for you, ”Lee said.

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