The Bitocin is in the early stages of its growth and we are yet to witness new record values. This is said in a CNBC video interview with Charlie Lee, the founder of another of the popular crypto, Litecoin.
Today, the price of the most popular crypto is up by more than 2% to $ 7038, which is well below the record price of nearly $ 20,000 at the end of 2017.
Lee says it's hard to predict crypto prices, but a recovery can take either 6 months or 3-4 years.
The price in the future will reflect the success of crypto, Lee said.
The founder of Litecoin, who at the end of 2017 entered the global media with the news that he had sold all of his digital currencies, believes the downturn could be used for new purchases. But Lee, a former Google executive, is of the opinion that he will not buy again (if he does so) again from the crypto he has created.
Litecoin is known to be the first alternative to a Bitcoin, but has a higher speed in generating blocks in the system.
Lee says he has sold all his Litecoin because their possession is a conflict of interest.
Crypto purchases are a good option but only for some of the savings that people can afford to lose. It's not a good idea to mortgage your home to invest it.
Today, the Litecoin is traded at levels of about $ 60, compared to over $ 320 at the time Lee sold its stake.
image source - Instagram