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January 12, 2018, 04:17:05 PM |
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I assume the reason why people ask this question is the latest development on part of Charlie Lee selling his holding in Litecoin. If that’s what make you think so, then you are only going to hurt yourself.
I wrote about Charlie Lee selling his stakes earlier. I beg to differ, but it will have no affect on the price of Litecoin whatsoever in the long run. There’s more to the Litecoin project and with Charlie Lee leaving his full time job from Coinbase only hints how serious he’s taking the project.
Just to cite as an example, on Jan 4th -5th alone 12 billion dollar worth Litecoins were exchanged. I believe it’s very wise and noble of Charlie to put his stake away and focus on the project. And if it’s in true spirit (which I think so) then we must appreciate it.
Charlie seems to be very focused on making Litecoin as payment currency rather than an investment tool (which is the lost purpose of Bitcoin). And that will happen slowly with people adopting it.
Having said that, you should definitely cut your losses given the opportunity and may be buy back or shift to any other Crypto. But keep in mind that Litecoin is going nowhere any time soon.
For more on Litecoin you might want to listen to Charlie Lee and why he took that decision.
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