Litecoin Founder Claims LTC Development is Going Sturdy, But Are Investors Disillusioned?

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Litecoin has been going through a big quantity of worry, uncertainty, and doubt, following its current halving occasion, which finally had little affect on its value motion and has sparked some controversy surrounding whether or not or not LTC has any code commits in 2019 on GitHub.

Now, Litecoin founder Charlie Lee is making an attempt to clear the air of any considerations in a current tweet thread, however buyers should still be disillusioned by LTC’s lackluster value motion which may result in an exodus away from the poplar cryptocurrency.

Charlie Lee Claims Litecoin Development is Alive and Effectively

In a current thread of tweets, Lee defined to involved buyers that there are two major sources of the FUD surrounding Litecoin presently, noting that the primary supply is that LTC has had no code commits on GitHub in 2019 – which makes it seem that no work has been carried out on the crypto this 12 months – and the second supply being that they don’t work on the grasp department of the principle challenge.

“Lately there’s been plenty of FUD about Litecoin having no code commits in 2019. If you have a look at Litecoin GitHub… it might appear to be we did no work in 2019. There are literally 2 the reason why this is the case though we’ve been creating,” he defined.

As talked about earlier, Lee responds to this FUD by explaining that Litecoin code releases lag behind Bitcoin releases by a number of months, and additional noting that they typically don’t work on the grasp department of the principle challenge, which has been one issue that critics have beforehand pointed to in an effort to make unfounded claims that Litecoin stopped creating.

“This is how Litecoin Core improvement has functioned for years. We even had the identical FUD final 12 months! Somebody checked out our grasp department final 12 months and claimed that Litecoin stopped creating in 2018. And I guess even after this clarification, we may have individuals confused in 2020,” Lee stated.

Are LTC Investors On the lookout for A Cause to Ditch Their Investments?

Though it is clear that the FUD surrounding Litecoin is totally unfounded, it is necessary to notice that some buyers could also be searching for a motive to exit their Litecoin positions, as its post-halving value motion has been lackluster.

Moreover, though many individuals thought that LTC would see some bullish value motion following its halving occasion, it is at the moment buying and selling at $88, down considerably from its three-month highs of $144.

Assuming Litecoin continues to drop decrease because the aggregated crypto markets face turbulence, it is extremely possible that embattled buyers will proceed to exit their positions in LTC and different altcoins in favor for Bitcoin, because of the inverse correlation between BTC and the altcoin markets.

Featured picture from Shutterstock.



Source link Litecoin News

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