Litecoin has had a quite good public image in 2017, adding to the phenomenal rise from around $4 to a peak of $370. However, as the digital asset came into the spotlight, and the Litecoin Foundation tentatively started to promote Litecoin more, criticisms appeared.
Popularity came with closer scrutiny, and a previously drama-free coin acquired its own negative points. Bullish on Litecoin Price: Top 5 Reasons for the Litecoin Boom With a lot of newcomers to the world of cryptocurrency, Litecoin would not be seen as a staple, but as just another coin deserving renewed scrutiny. And while older investors may be used to Litecoin, the renewed popularity brings the spotlight to the flaws.
1. Litecoin was artificially inflated: Litecoin was added to Coinbase last spring, and some see the move as artificial, mostly due to the influence of Charlie Lee as the technical director.
From then onward, Litecoin quickly appreciated, and Charlie Lee became one of the most influential voices in the crypto community. In November and December, Litecoin saw another rapid appreciation, breaking above $100, coinciding with an appearance of Charlie Lee on CNBC TV.
Without the accidental publicity, Litecoin had a rather negative image among traders, being called a “chicken” for its short-lived flights. Some believe the current values of Litecoin are not fair and the coin was pushed to the front without too much merit, being simply a copy of Bitcoin. 2. Read more from cryptovest.com…
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