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.
Charlie Lee’s timing in selling all his LTC a couple years ago still amazes me!…right before the bubble popped!
— Sonny M.Giancana (@GiancanaSonny) December 6, 2019
The other reason for Litecoin becoming irrelevant is the fact that Bitcoin does not actually…