Charlie Lee Advises Investors to Invest In Bitcoin (BTC) In the Present Bearish Market

The digital currency market has now been in the bearish zone for about 70 percent of the past year, and has September is just around the corner, predictions from previous months that Bitcoin (BTC) would hit its all-time high of last year seems less and less likely.

Charlie Lee Says Bitcoin (BTC) Is Still a Good Buy

Nevertheless, even after the elongated decline in the crypto market, Charlie Lee – the creator of Litecoin (LTC) – says that Bitcoin (BTC) – the largest digital currency in the world by market cap – is still a good buy. During an interview with CNBC, Charlie Lee said that the decline in values had given rise to a great investment opportunity for long-term bulls that have cash that they can afford to lose.

Lee said it is always good to invest when the value of the digital currency is heading south. He said, “He thinks its fine provided you don’t invest money that you cannot afford to lose.” Lee warned against using borrowed funds or funds meant for other purposes to invest in BTC, a practice that became very coming during the fevered fourth-quarter rally last year.

Lee said that, at the moment, the values of digital currencies basically reflects speculative interest, not the actual adoption by consumers. He said it is all about speculation this period, but the success of digital currencies will be reflected by their values in the future. He also added that the adoption of Bitcoin (BTC) and other digital currencies increased significantly this year despite their low values.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$0.00-0.15%

At the time of writing, Bitcoin (BTC) is trading at $7,010 after a decrease of less than one percent over the past twenty-four hours. The world’s largest digital currency currently boasts of a market cap of $120.85 billion and its trading volume over the past twenty-four hours is $4.12 billion.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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