Erik Finman, a millionaire that amassed his wealth through the early stages of Bitcoin development, has stated that he thinks all hope is lost for Bitcoin. Referring to the bleeding crypto market, he pointed out that Bitcoin’s long-term existence is not feasible. Speaking in an interview, the millionaire countered the viewpoints of various crypto analysts like Morgan Stanley by stating that the future for Bitcoin looks gloomy.
“Bitcoin is dead, it’s too fragmented, there’s ton of infighting. I just don’t think it will last. It may have a bull market or two left in it, but long-term, its dead.” He said.
Litecoin is in its Seventh MinuteLitecoin, it appears,is not left out of the negative viewpoints as he mirrored venture capitalist Ariana Simpson’s view about litecoin’s existence. Pointing out the recent downturn of prices for Litecoin, he highlighted that it appears to be heading in the same direction as Bitcoin.
“It’s like when the sun is going down and there’s that eight-minute period before it goes dark, Litecoin is in its seventh minute.” He pointed out.As previously reported,Simpson pointed out that Litecoin’s existence seemed like a joke to her and she emphasized that it was one coin that she was not particularly bullish about regardless of the wave of adoption. However, the good news for Litecoin (LTC) is that Senior Market Analyst at eToro, Matt Greenspan,appears to think otherwise. According to the analyst, a comparative analysis was conducted in the crypto market. Litecoin (LTC) appeared to have come out victorious as the analyst pointed out that he found out that the coin was undervalued. Highlighting the daily transaction volume and level of adoption of the Charlie Lee’s brainchild, he explained that the impressive level of adoption and network value reinforced his viewpoint. Considering the amount of newer projects being launched in the crypto space, Greenspan explained that Litecoin network had that grit and integrity that seems to be absent in newer projects. He further pointed out that he was bullish about the future of Litecoin and he also included Bitcoin,Ripple, Ethereum and EOS in his list. He claimed that the crypto space needed to be diversified. He added that:
“[…]but when you have the part of high-risk assets in your portfolio, you can diversify even further.”
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