Litecoin Jumps 30% in 24 Hours and says Litecoin Cash is a SCAM
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Litecoin has completely exploded and prices are up 32 percent right now, so pretty much the factors for this seem to be one that light pay is starting up relatively soon, it should be starting February 26. Everyone's very excited about the added volume onto Litecoin. This is also something that's going to put Litecoin into the public eyes. People will be able to pay easily and also it appears that Litecoin Hard Fork that is happening or fork in general, that will be called Litecoin Cash. Apparently the announcement for Litecoin Cash promised a free allocation of ten tokens per Litecoin held by existing investors at the time of the fork. The creator of Litecoin, Charlie Lee said not to trust this. He thinks that it is a scam. They're using the Litecoin name in order to gain notoriety and to get people on to it. It has worked that is the crazy part because for every Litecoin you hold the more Litecoin cash or Core, you'll be able to receive ten tokens. Let’s see if it will be the exact same number of Litecoin or if it's going to be around eight hundred and forty million. After a new coin comes out the price will jump up dramatically and then it'll slam right down to the ground. You can check every other coin especially Bitcoin in the beginning that has had some type of fork or anything similar to. There's any type of coin that's recently released, there is always a huge spike, so what would probably happen is once everyone gets their free ten tokens when the price goes up, because as of now there's no positive or good news about Litecoin Cash. So after a couple of days the price will fall down. Even though the creator of Litecoin says it's a scam but it is what it is.