Rather than this downfall seen by the crypto market in this present year ‘Charlie Lee’ the founder of Litecoin ‘LTC’ said that investing in the major cryptocurrency ‘BTC’ is still is a good option.
Speaking in an interview, Lee aforesaid that this drop in the prices has created a superb investment chance for long bulls who have cash-in-hand for the future. Mentioning further he said:
“It’s always good to buy on the way down to dollar-cost average your buy-in. As long as you don’t spend cash that you simply can’t afford to lose, i feel that’s fine.”
According to a former Coinbase and Google engineer, he cautioned all the investors to buy cryptocurrencies using credit cards which was however banned by the government in the last year only due to the sudden unexpected price drifts in the market prices as seen in the crypto ecosystem. Mentioning further he said:
“It’s onerous to predict prices. I’ve been in this area working for seven years and i feel generally that the price hike comes back at intervals six months to a year, and sometimes it may takes 3 or 4 years too.”
Lee noted further that the crypto prices primarily mirror speculative interest, not actual investors adoption.
Adding further to the price fluctuation he warned the consumers stating:
“It’s all related to speculation these days but, in the future, the price will reflect the success of the digital currencies.”