Litecoin (LTC) Progress is Strong: Charlie Lee Disputes Fears


Litecoin

The month of August was a hugely vital one for Litecoin as the cryptocurrency finally had its much anticipated and highly controversial halving event. By way of that move, the reward for Litecoin miners for each completed block has been reduced from 25 LTC to 12.5 LTC, and that had set off fears that a dramatic crash in the price would occur. Nothing of the sort happened, and in fact, the price of Litecoin rose after the halving as many experts had predicted.

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That being said, it did not, however, lead to the sort of price action that many had expected and predicted. In light of the latest concerns, the founder of Litecoin, Charlie Lee, took to the social networking platform Twitter in order to clear the air somewhat.

Lee stated that there is a lot of FUD (fear, uncertainty, and doubt) that is being created by outside forces with regards to Litecoin and hence, investors should not believe that there is anything wrong with the token. He then wrote about the difference with Bitcoin with regards to code releases and also stated that it is a completely false claim in certain quarters that any kind of development has stopped taking place on the Litecoin blockchain.

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However, it needs to be kept in mind that there is a lot of confusion among Litecoin investors at this point in time and it could be a ripe situation in which many might consider cashing out their investments. Moreover, despite there being no price crash due to the halving, it also did not lead to any great momentum, and currently, Litecoin is a long way off from its highs of $144. It is currently trading at $88 per token, and hence, it could well move to a selling trigger for plenty of investors. The next few weeks could prove to be critical for Litecoin and also its investors.

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