Charlie Lee, the founder of Litecoin has been known to nail some predictions on the cryptocurrency markets.
A Reddit post has just revealed that Lee just popped up in the Litecoin telegram group and answered a group member’s question regarding the price and all-time high of Bitcoin.
“When do you predict BTC will ever hit $20k again, or do you think it never will?”
“Should happen within the next 3 years,” Lee responded.
Charlie Lee’s predictions have been carrying more and more weight as he continues to nail market predictions. Back when the market was flying high and BTC was nearing its $20k peak, Lee correctly predicted that a tough bear market would be ahead.
On December 11, 2017, he tweeted a somber prediction.
“Ok, sorry to spoil the party, but I need to reign in the excitement a bit… Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can’t handle LTC dropping to $20, don’t buy!”
He went on to explain to concerned Twitter users that a bear market is a natural response to such huge gains in such a short period of time.
“Every pump I’ve seen has been followed by a bear cycle. The market needs time to consolidate. That’s just my experience from 6+ years of watching this space. How low and how long it will be is unclear. But people need to be aware of this possibility.”
Lee also correctly predicted that LTC would surpass Bitcoin Cash in market capitalization.
In February of 2018, Lee told his followers on Twitter that the event he would call “the flappening” would happen this year.
“The flippening (ETH>BTC) will never happen. But the flappening (LTC>BCH) will happen this year.”
Lo and behold in December of 2018 the prediction came true.
Lee has also taken heat from many in the Litecoin community and the cryptocurrency space in general for at times throwing cold water on crypto excitement and also selling much of his LTC. But he’s reminded everyone publicly that’s he’s not a CEO, and that the point of his creation is decentralization and the creation of a P2P ecosystem.
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