While Gambardello is right that the price of Litecoin, currently sitting at around $67, is up significantly from its December lows of around $23, there are varying levels of optimism surrounding the asset’s long-term value. One reply from user @MisterBitty_ fights back by saying Gambardello is “silly” for thinking Litecoin could stand up to Bitcoin as being a similar store of value. MisterBitty then compares the prices of Litecoin in 2013 and Bitcoin in 2013 to their respective prices now.
Since December bear market lows:— Dan | CCV | ⚡️ (@cryptorecruitr) September 4, 2019
For the people exclaiming that Litecoin is weak and price is failing…..
Stop. You look silly.
Obviously, Bitcoin’s gap is much larger than Litecoin’s, and MisterBitty’s tweet definitely doesn’t paint Litecoin in a positive light, considering the price is less than double a value it hit in 2013, despite it having reached well into the hundreds beforehand. Meanwhile, the last time Bitcoin hit anywhere near $1000 was in the earlier months of 2017. That’s not to mention the other difficulties surrounding Litecoin that have nothing to do with its price, like creator Charlie Lee’s struggles with developing the project, or the asset price dropping after its halvening event. However, some analysts and even Binance are predicting an upcoming altseason, meaning that Gambardello’s optimism may pay off in the long run after all. What do you think about the current state of Litecoin? Is there reason to be optimistic? Let us know your thoughts in the comments below. And while you’re at it, check out our guide on the best cryptocurrency exchanges for trading Bitcoins.
Nov 28 2013— Bittie (@MisterBitty_) September 4, 2019
LTC $35 Today $67
Nov 28 2013
BTC $1000 Today $10,700
If you think LTC is even in the same league as a store of wealth / wealth creator you look silly. Stop.
Images are courtesy of Twitter, Shutterstock.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.