Charlie Lee Predicts Resurgence of Litecoin as Bitcoin Money Falters

Litecoin founder Charlie Lee at present tweeted a cryptic emoji message of a rooster, dolphin, bee, money, and shortly arrow. A number of of Lee’s followers replied, speculating over what he meant.

Nevertheless it was @MASTERBTCLTC who gave the probably clarification by replying with “Litecoin flip B money quickly.”

🐓 litecoin
🐬 flip
🐝 B
💵 money
🔜 quickly

— Grasp⚡️250k BTC 6.25k LTC 2021 (@MASTERBTCLTC) November 16, 2020

Lee has neither confirmed nor denied any of the responses to his message. What’s extra, there isn’t a logical clarification over why a rooster would symbolize Litecoin.

Nonetheless, an evaluation of the CoinMarketCap prime 10 exhibits Litecoin within the ascendency, with Bitcoin Money stumbling, lending assist to this interpretation.

At current, the distinction between sixth and seventh place is a matter of $183 million, or 0.04% of the entire crypto market cap.

Supply: CoinMarketCap.com

Litecoin Aiming For Sixth Place on CoinMarketCap

Litecoin is up nearly 12% this final week, having at present spiked to a 12-week excessive, at $68.50.

Technical evaluation has famous the formation of a serious bullish pattern line, giving extra upside quickly. Analysts are concentrating on $70 if LTC maintains its momentum.

Supply: LTCUSDT on TradingView.com

Whereas at present, Bitcoin Money is struggling a case of the publish laborious fork blues. The final 24-hours has seen a 3% drop in its worth.

In contrast to LTC, which has closed a sequence of upper highs because the finish of September, Bitcoin Money struggles to achieve any upward momentum, having bounced off the $240 assist line on three events not too long ago.

Supply: BCHUSDT on TradingView.com

Way forward for Bitcoin Money Unsure Following Arduous Fork

So as to add insult to damage, the way forward for Bitcoin Money hangs within the stability following the chain’s laborious fork yesterday.

The cut up arose as a consequence of disagreements over the Infrastructure Funding Plan (IFP). These within the Bitcoin Money ABC faction known as for an 8% tax on miners’ income to fund community growth. Whereas Bitcoin Money Node supporters felt a tax on miners was pointless and believed the protocol ought to stay unchanged.

Bitcoin Money proponent Roger Ver voiced his opposition to the miner’s tax by calling out its centralization.

“Diverting a part of the #BitcoinCash block reward to pay a single growth group is a Soviet type central planner’s dream come true. Please cease.”

Ver’s feedback have been directed at developer Amaury Séchet, who maintains {that a} miner’s tax is important. In the long run, Séchet believes the trickle-down results will result in a rise in community worth.

“This enables Bitcoin ABC to make this a lot wanted enchancment whereas miners who could want different guidelines are free to decide on a viable, alternate implementation.”

If Bitcoin Money ABC fails to draw ample hashing assist, the challenge would vanish. Whereas that might be trigger for celebration for Bitcoin Money Node supporters, the query is, can Bitcoin Money stick with it because it did earlier than the fork?

One factor is for certain, Litecoin is dangerously near taking sixth spot.