Litecoin up 100% in 24 hours?! Is it legit?




For those of you who don't know, I put a small amount of money into Litecoin about 6 days ago. At the time I bought it at $92 a coin. Within days it skyrocketed up to $160, so I sold it thinking I made a great decision even though it's founder Charlie Lee said this was just the beginning.

Litecoin has been compared to bitcoin like silver has been to gold. It was designed to be a faster transaction, and a currency that would allow a consumer to purchase products more effectively than Bitcoin, which is considered more of a storage device (i.e gold).

I read a few things that spooked me, so I sold. Sure enough, Lite coin rose another 100%+ to over $370. Boy, I wish I would have held. All I can do now is be patient and hope that it drops back down to a reasonable price so I can by more of it.

I would recommend following Charlie Lee on twitter. He is outspoken on Litecoin and what he says affect's the market.

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