CNBC Host Goes Loco On Live TV, Says Sell Everything And Buy Litcoin (LTC) As Price Swings Up
CNBC Host Becomes Crazy Saying It Is Time To Buy Litecoin
The cryptocurrency market is currently living a moment of euphoria. The most popular digital asset Bitcoin (BTC) has expanded 140% since the beginning of the year. Meanwhile, Litecoin (LTC) has surged 400% since December 2018. CNCB’s Fast Money panel decided to discuss how Litecoin and Bitcoin were performing and how these digital assets experienced a parabolic rise in the last months.
Litecoin Shilled By CNBC Panel
The CNBC panel started to talk about Litecoin, which is surrounded by very bullish sentiment in the space. About it, the anchor said that it is the moment to “sell the house, sell the car, sell the kids” and buy Litecoin.
— CNBC's Fast Money (@CNBCFastMoney) May 28, 2019
The CNBC panel is very excited about Litecoin that is going to be experiencing a halving in August. The sixth largest digital currency in the market will be reducing the reward for miners from 25 LTC per block to 12.5 LTC. With growing demand and a smaller issuance of LTC, the price is expected to increase as well.
Moreover, on-chain metrics have strengthened as well, according to the Litecoin Foundation. Transactions have slightly grown and the value moved on-chain has also expanded as well.
Franklyn Richards, the director of the Litecoin Foundation, warned investors about getting too excited.
On the matter, Richards commented:
“Price has by far ran way from any on-chain metrics, meaning while this growth is positive it is not currently sustainable and we could see a pullback. Otherwise, we may risk finding ourselves in another bubble scenario sooner than we realize.”
Nonetheless, the crypto analyst Kiril Nikolaev, is very bullish about the digital currency saying that it can keep growing another 130 percent before hitting real resistance.
Moreover, the CNBC panel talked about Bitcoin and how the chart shows that Bitcoin could keep growing higher as time passes.