RATE Group | Litecoin May Not Become Silver to Bitcoin’s Gold Afterall
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Litecoin May Not Become Silver to Bitcoin’s Gold Afterall

08 Dec Litecoin May Not Become Silver to Bitcoin’s Gold Afterall

Posted at 04:30h in Bitcoin News by

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Litecoin (LTC) has a limited potential, and will most probably fail to fulfill its promise of being silver to Bitcoin’s gold. Recent points made by entrepreneur and blogger Sylvain Saurel show that LTC has lost its momentum and is becoming irrelevant.

Litecoin Rode on the Back of Bitcoin’s Rally

Litecoin caught the price momentum at the right time, and for a long time rode alongside Bitcoin’s fame, commented Saurel. LTC creator Charlie Lee used the primary Bitcoin code with a few tweaks for LTC with a promise of a faster and cheaper network.

But just as the crypto reached its peak in December 2017, Lee sold all of his holdings – just at the highest point of the coin’s price above $350. This decision caused rumblings among the community, and cost some of Lee’s reputation.

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