{"id":449842,"date":"2020-11-16T12:12:44","date_gmt":"2020-11-16T12:12:44","guid":{"rendered":"https:\/\/wncen.com\/?p=449842"},"modified":"2020-11-16T12:12:44","modified_gmt":"2020-11-16T12:12:44","slug":"charlie-lee-predicts-resurgence-of-litecoin-as-bitcoin-cash-falters","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin\/charlie-lee-predicts-resurgence-of-litecoin-as-bitcoin-cash-falters\/","title":{"rendered":"Charlie Lee Predicts Resurgence of Litecoin as Bitcoin Cash Falters"},"content":{"rendered":"<p>Litecoin founder Charlie Lee today tweeted a cryptic emoji message of a chicken, dolphin, bee, cash, and soon arrow. Several of Lee&#8217;s followers replied, speculating over what he meant.<\/p>\n<p>But it was <a href=\"https:\/\/twitter.com\/MASTERBTCLTC\/status\/51586560\" rel=\"nofollow\">@MASTERBTCLTC<\/a> who gave the most likely explanation by replying with &#8220;Litecoin flip B cash soon.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc13 litecoin<br \/>\ud83d\udc2c flip<br \/>\ud83d\udc1d B<br \/>\ud83d\udcb5 cash<br \/>\ud83d\udd1c soon<\/p>\n<p>&mdash; master \u24c2\ufe0f\ud83d\udd78 (@MASTERBTCLTC) <a href=\"https:\/\/twitter.com\/MASTERBTCLTC\/status\/51586560?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 16, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Lee has neither confirmed nor denied any of the responses to his message. What&#8217;s more, there is no logical explanation over why a chicken would represent Litecoin.<\/p>\n<p>Nonetheless, an analysis of the CoinMarketCap top 10 shows Litecoin in the ascendency, with Bitcoin Cash stumbling, lending support to this interpretation.<\/p>\n<p>At present, the difference between sixth and seventh place is a matter of $183 million, or 0.04% of the total crypto market cap.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1366\" height=\"180\" class=\"aligncenter wp-image-449847 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?resize=1366%2C180\" alt=\"Litecoin in ascendency over Bitcoin Cash\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Capture-9.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre>Source: <a href=\"https:\/\/coinmarketcap.com\/\" rel=\"nofollow\">CoinMarketCap.com<\/a><\/pre>\n<h2>Litecoin Aiming For Sixth Place on CoinMarketCap<\/h2>\n<p>Litecoin is up almost 12% this last week, having today spiked to a 12-week high, at $68.50.<\/p>\n<p><a href=\"https:\/\/wncen.com\/analysis\/ltc\/litecoin-surges-could-test-70-72\/\">Technical analysis<\/a> has noted the formation of a major bullish trend line, giving more upside soon. Analysts are targeting $70 if LTC maintains its momentum.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1805\" height=\"890\" class=\"aligncenter wp-image-449848 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?resize=1805%2C890\" alt=\"Litecoin daily chart\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=1805 1805w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/lhyS7VOi.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre>Source: <a href=\"https:\/\/uk.tradingview.com\/symbols\/LTCUSDT\/?exchange=BINANCE\" rel=\"nofollow\">LTCUSDT on TradingView.com<\/a><\/pre>\n<p>Whereas today, Bitcoin Cash is suffering a case of the post hard fork blues. The last 24-hours has seen a 3% drop in its price.<\/p>\n<p>Unlike LTC, which has closed a series of higher highs since the end of September, Bitcoin Cash struggles to gain any upward momentum, having bounced off the $240 support line on three occasions recently.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1805\" height=\"890\" class=\"aligncenter wp-image-449853 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?resize=1805%2C890\" alt=\"Bitcoin Cash daily chart\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=1805 1805w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/xRvqudoJ.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre>Source: <a href=\"https:\/\/uk.tradingview.com\/symbols\/BCHUSDT\/?exchange=BINANCE\" rel=\"nofollow\">BCHUSDT on TradingView.com<\/a><\/pre>\n<h2>Future of Bitcoin Cash Uncertain Following Hard Fork<\/h2>\n<p>To add insult to injury, the future of Bitcoin Cash hangs in the balance following the chain&#8217;s hard fork yesterday.<\/p>\n<p>The split arose due to disagreements over <a href=\"https:\/\/wncen.com\/news\/bitcoin-cash\/bitcoin-cash-miners-preparing-controversial-miner-tax-to-reward-devs\/\">the Infrastructure Funding Plan (IFP)<\/a>. Those in the Bitcoin Cash ABC faction called for an 8% tax on miners&#8217; profits to fund network development. Whereas Bitcoin Cash Node supporters felt a tax on miners was unnecessary and believed the protocol should remain unchanged.<\/p>\n<p>Bitcoin Cash proponent <a href=\"https:\/\/twitter.com\/rogerkver\/status\/16103424\" rel=\"nofollow\">Roger Ver<\/a> voiced his opposition to the miner&#8217;s tax by calling out its centralization.<\/p>\n<blockquote><p>&#8220;<span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">Diverting part of the <\/span><span class=\"r-18u37iz\">#BitcoinCash<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\"> block reward to pay a single development team is a Soviet style central planner\u2019s dream come true. Please stop.&#8221;<\/span><\/p><\/blockquote>\n<p>Ver&#8217;s comments were directed at developer <a href=\"https:\/\/medium.com\/bitcoin-abc\/bitcoin-abcs-plan-for-the-november-2020-upgrade-65fb84c4348f\" rel=\"nofollow\"><span class=\"bb b bc bd cn\"><span class=\"bb b bc bd ce gn cd go gp gq gr cn\">Amaury S\u00e9chet<\/span><\/span><\/a>, who maintains that a miner&#8217;s tax is necessary. In the long term, <span class=\"bb b bc bd cn\"><span class=\"bb b bc bd ce gn cd go gp gq gr cn\">S\u00e9chet believes the trickle-down effects will lead to an increase in network value.<\/span><\/span><\/p>\n<blockquote><p>&#8220;This allows Bitcoin ABC to make this much needed improvement while miners who may prefer other rules are free to choose a viable, alternate implementation.&#8221;<\/p><\/blockquote>\n<p>If Bitcoin Cash ABC fails to attract sufficient hashing support, the project would vanish. While that could be cause for celebration for Bitcoin Cash Node supporters, the question is, can Bitcoin Cash carry on as it did before the fork?<\/p>\n<p>One thing is certain, Litecoin is dangerously close to taking sixth spot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin founder Charlie Lee today tweeted a cryptic emoji message of a chicken, dolphin, bee, cash, and soon arrow. Several of Lee&#8217;s followers replied, speculating over what he meant. But it was @MASTERBTCLTC who gave the most likely explanation by replying with &#8220;Litecoin flip B cash soon.&#8221; \ud83d\udc13 litecoin\ud83d\udc2c flip\ud83d\udc1d B\ud83d\udcb5 cash\ud83d\udd1c soon &mdash; master \u24c2\ufe0f\ud83d\udd78 (@MASTERBTCLTC) November 16, 2020 Lee has neither confirmed nor denied any of the responses to his message. What&#8217;s more, there is no logical explanation over why a chicken would represent Litecoin. Nonetheless, an analysis of the CoinMarketCap top 10 shows Litecoin in the ascendency, with Bitcoin Cash stumbling, lending support to this interpretation. At present, the difference between sixth and seventh place is a matter of $183 million, or 0.04% of the total crypto market cap. Source: CoinMarketCap.com Litecoin Aiming For Sixth Place on CoinMarketCap Litecoin is up almost 12% this last week, having today spiked to a 12-week high, at $68.50. Technical analysis has noted the formation of a major bullish trend line, giving more upside soon. Analysts are targeting $70 if LTC maintains its momentum. Source: LTCUSDT on TradingView.com Whereas today, Bitcoin Cash is suffering a case of the post hard fork blues. The last 24-hours has seen a 3% drop in its price. Unlike LTC, which has closed a series of higher highs since the end of September, Bitcoin Cash struggles to gain any upward momentum, having bounced off the $240 support line on three occasions recently. Source: BCHUSDT on TradingView.com Future of Bitcoin Cash Uncertain Following Hard Fork To add insult to injury, the future of Bitcoin Cash hangs in the balance following the chain&#8217;s hard fork yesterday. The split arose due to disagreements over the Infrastructure Funding Plan (IFP). Those in the Bitcoin Cash ABC faction called for an 8% tax on miners&#8217; profits to fund network development. Whereas Bitcoin Cash Node supporters felt a tax on miners was unnecessary and believed the protocol should remain unchanged. Bitcoin Cash proponent Roger Ver voiced his opposition to the miner&#8217;s tax by calling out its centralization. &#8220;Diverting part of the #BitcoinCash block reward to pay a single development team is a Soviet style central planner\u2019s dream come true. Please stop.&#8221; Ver&#8217;s comments were directed at developer Amaury S\u00e9chet, who maintains that a miner&#8217;s tax is necessary. In the long term, S\u00e9chet believes the trickle-down effects will lead to an increase in network value. &#8220;This allows Bitcoin ABC to make this much needed improvement while miners who may prefer other rules are free to choose a viable, alternate implementation.&#8221; If Bitcoin Cash ABC fails to attract sufficient hashing support, the project would vanish. While that could be cause for celebration for Bitcoin Cash Node supporters, the question is, can Bitcoin Cash carry on as it did before the fork? One thing is certain, Litecoin is dangerously close to taking sixth spot.<\/p>\n","protected":false},"author":515,"featured_media":449843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10736,10,2831,79510],"class_list":["post-449842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-bitcoin-cash","tag-litecoin","tag-ltcusd","tag-ltcusdt"],"acf":[],"yoast_head":"\n<title>Charlie Lee Predicts Resurgence of Litecoin as Bitcoin Cash Falters<\/title>\n<meta name=\"description\" content=\"Litecoin founder Charlie Lee today tweeted a cryptic emoji message of a chicken, dolphin, bee, cash, and soon arrow. 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He has years of experience working in business and finance \u2014 a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.\",\"url\":\"https:\/\/wncen.com\/author\/swan\/\"}]}<\/script>\n","yoast_head_json":{"title":"Charlie Lee Predicts Resurgence of Litecoin as Bitcoin Cash Falters","description":"Litecoin founder Charlie Lee today tweeted a cryptic emoji message of a chicken, dolphin, bee, cash, and soon arrow. 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