Litecoin to overtake Bitcoin Cash
Charlie Lee, the founder of Litecoin has been known to take some of the bold steps in the crypto world. This time, his remarks on Litecoin vs Bitcoin cash made Litecoin rise. Here’s the entire story.
Lee’s take on LTC
In a recent tweet, Lee makes a comment highlighting the big rivals of the crypto world: ETH and BTC. The next part of his statement is what made the Litecoin rise up. He believes that this year, Litecoin will overtake Bitcoin cash.
“The flippening (ETH>BTC) will never happen. But the flappening (LTC>BCH) will happen this year” – Lee tweeted from his @SatoshiLite Twitter handle.
Lee has always been bold about taking decisions concerning Litecoin. In December 2017, he announced selling and donation of all his Litecoins due to conflict of interest. Towards the mid of December 2017, he warns crypto traders about the volatility of the LTC, stating:
“Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy!” – Lee
Later, in an interview he explains this tweet stating:
“People misread that [tweet] and thought that I was telling them to sell because it’s [Litecoin] going to drop 90 percent. I mean, it could. But I’m just raising the possibility that it’s too volatile and you shouldn’t bet more than you can risk that you’ll lose. Long term is good, short-term – no one know”- Lee.
Following this, in January 2018, he proposed a soft fork for Litecoin to introduce a new fee market.
Litecoin vs Bitcoin cash
Currently, Bitcoin cash is the fourth largest and Litecoin is the fifth largest cryptocurrency by market cap. As per CoinMarketCap, the market cap of BCH and LTC is $21 Billion and $12 Billion respectively. However, it is worth noting that BCH has traveled a long way since it was first introduced. It has risen by 7,291 % against Bitcoin’s 1,731 % which makes us give Lee’s statement, a thought. For now, nothing can be claimed but the Litecoin vs Bitcoin cash race is still on.