Jun 20 the founder of litecoin Charlie Lee in an interview with CNBC said that the recent hacking of major cryptocurrency exchanges Bithumb “can’t change the fundamentals of bitcoin”.
According to him, the fall in the price of cryptocurrencies should be seen as a typical market response to hacking: this always happens because people are scared. Lee notes that the hacking of the exchange may not alter the fundamental basics of bitcoin in exactly the same way as a Bank robbery should not seriously influence the gold price:
The fact that the exchange protects the bad coin and its hacked, can’t change fundamentals are there coins.
Also in light of the recent hacking, Li said that cryptocurrency exchanges are studying ways to better protect customer funds, and that it is a continuous process, where “much room for improvement”. Lee also drew attention to the “paradigm shift associated with the use of bitcoin as personal Finance”: people have to get used to digital coins need to protect better than traditional money.
In his opinion, despite the decline in bitcoin exchange rate to 60-70% in 2018, he is still “going well” and in recent years its network has grown stronger. According to Lee, the current price of the cryptocurrency “divorced from the actual development of bitcoin”. They thinks that the price will return to its position very soon.
Lee says the market has taken a bearish position, and predict how long it will last three to four years or one day — is almost impossible.
Recall, on the eve of the South Korean leading cryptocurrency exchange Bithumb was hacked, and this has led to the loss of the digital currency of $30 million Trading facility had to suspend input and output means. According to CoinMarketCap on June 19, trading volume on Bithumb 24 hours decreased from $374 million to $236 million, with the result that the exchange has moved from the sixth position to the seventh in terms of trading.