Prominent Bitcoin advisor and derivative trader, Tone Vays, has said it won’t be possible for Bitcoin to go below $3,000 no matter how low the cryptocurrency trends, but ‘shitcoins’ like Litecoin will test lower lows this period.
The Bitcoin maximalists reiterated this in a tweet, disproving the possibility of people mining Litecoin when the price goes below $20. Tone Vays asked if it will be possible for people to mine LTC when it tests a new low.
He said: “We are in the are [sic] of the 2 year anniversary of the All Time Highs for both #Bitcoin & #Shitcoin. While I do not believe this current $BTC low will swing to new lows (< $3k), I do believe that Alts will make new lows. Q: who will still be mining $LTC under $20?”
We are in the are of the 2 year anniversary of the All Time Highs for both #Bitcoin & #Shitcoin. While I do not believe this current $BTC low will swing to new lows (< $3k), I do believe that Alts will make new lows.
Q: who will still be mining $LTC under $20? pic.twitter.com/r6U51ogUxj— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) December 17, 2019
At the moment, Litecoin is changing hands at $36, after losing over 5% of its value in the last 24 hours. At press time, Bitcoin has also touched the $6500 range.
Meanwhile, the criticism by Tone Vays is general on all altcoins. In the past, Vays had criticized Ripple for creating XRP, a token he said was designed to enrich the Ripple Labs pulse.
At that time, Tone questioned on why “intellectually challenged” people compare Ripple’s XRP to Bitcoin, saying the digital asset should be compared to PayPal and not Bitcoin.
While Tone remains a critic of altcoins, the crypto trader, this time around, focused hist criticism on Litecoin, the silver to Bitcoin’s gold.
Few months ago, Tone Vays took a sarcastic dig at Litecoin, calling the innovation by Charlie Lee, a big “scam”.
Every year all these noobs show up and I have to re-post Luke's explanation from 2013 why $LTC is a scam… pic.twitter.com/fjqC1wyvyb
— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) October 15, 2019
Charlie Lee, responded to the assertion, saying Litecoin transacted $500B in the last 8 years.
Charlie said: “I use it all the time as money. Just because I never drink Pepsi and think it’s inferior to Coke, it doesn’t mean Pepsi is a scam. And likewise, Litecoin is not a scam.”
