Litecoin Price Prediction: Top Experts LTC Value Forecasts
As all of our readers are probably well aware of, 2018 saw the crypto market face an insane amount of bearish pressure, which resulted in the price of most premier digital assets dropping by over 80%. In this regard, it bears mentioning that last year BTC scaled down to a relative low of $3,000 after having reached its ATH of around $20,000 just a couple of months prior.
With all of this information out there, in this article, we will focus primarily on Litecoin, a top-10 crypto that currently has a total market capitalization of over $3.5 Bln. The project was devised by Charlie Lee, an ex-Google employee, to allow crypto enthusiasts to facilitate their day to day payments using a decentralized digital currency. Additionally, Litecoin’s core framework has been built atop the same blockchain that BTC currently makes use of. However, it is worth mentioning that when it comes to tx capabilities, the processing speeds offered by LTC are substantially higher than those offered by Bitcoin. To put things into perspective, we can see that a standard BTC transaction takes anywhere between 5-12 minutes to process. In the same breath, we can see that Bitcoin payments on an average take just 150 seconds to finalize.
Litecoin’s Core Features Worth Highlighting
Speed: As mentioned previously, one of the most important aspects of Litecoin (that sets it apart from other premier altcoins) is its tx speeds and capabilities.
Total Supply: When compared with Bitcoin, LTCs total token supply is substantially higher. To elaborate on this point, we can see that while there can only ever exist a total of 21 million BTC, Litecoin’s total supply can go up to a whopping 85 million tokens.
Low Processing Charges: While established cryptocurrencies such as BCH, BTC, ETH have relatively high processing fees (on each individual tx) associated with them, LTC’s processing charges are substantially lower.
In addition to the features that have been highlighted above, it is also worth pointing out that throughout 2018, Litecoin was one of the best performing crypto assets in the market. For example, if an investor had purchased LTC at the start of 2017, he/she would have incurred profits of over 8000% by the end of the year.
Top Litecoin Price Predictions:
We will now look at the predictions of various crypto analysts, experts and other finance teams that have been active within this space for quite some time. However, these opinions are solely their own and potential investors should carry out their due diligence before investing heavily in any crypto asset.
(i) John McAfee — Highly Optimistic about Mid-Term Future
McAfee’s reputation within the global crypto ecosystem has reached almost mythic proportions (especially over the past couple of years). Since 2017, the digital security pioneer has made several bold claims in regards to the price of Bitcoin (many of whom have come true). However, in a recent interview with a respected media outlet, he added that Litecoin too has a bright future ahead of itself and that the top-10 altcoin had still not reached its financial apex. In McAfee’s opinion, Litecoin has the potential to surge and reach new heights within the next 12-16 months.
(ii) George Tung — $1,500 by the End of 2019
Respected crypto analyst/investor George Tung recently went on record earlier to say that by the end of 2019, Litecoin’s value could go up to as much as $1500. However, because the digital asset is currently trading close to the $58 mark, it is unlikely that Tung’s predictions will come true unless the market takes a complete 180-degree turn in the coming few months.
(iii) Charlie Lee — Price Will Surge During 2019/2020
Lee’s recent return to Litecoin was viewed by many as being a catalyst that would help spur the price of the digital currency in an upward direction. And even though Lee has vested interests when making price predictions regarding Litecoin, he firmly believes that his brainchild will witness an unprecedented surge by the end of this year or early next year.
(iv) Brian Kelly — $500 Within the Next 3-5 Months
CNBC’s Brian Kelly believes that Litecoin has the potential to scale up to a price point of around $500 soon. Kelly, who is also the head of BK Capital Management (LLC), has been following the digital currency market for quite some time now and is viewed by many investors as being an expert in this field. His optimism stems from the fact that LTC offers users with a host of advantages over Bitcoin — especially in regards to its quicker transaction capabilities and lower processing costs.
(v) Edith Muthoni — $200 by the End of 2019
Edith is a professional investment writer, stock trader, and a personal finance coach. She is currently working as the chief editor of LearnBonds.com, a personal investment site and community with more than 100,000 monthly readers. In a recent interview with Master The Crypto, she told us that the future of Litecoin looks quite good for several reasons. These include:
The coin has been bullish for the better part of the year and over the last nine months, the coin has more than doubled in value. As a result of this, Edith is lead to believe that this bullish trend will continue well into 2020.
A quick look at the price of Litecoin before and after its recent halving process shows us that the premier digital currency has more than stabilized. This, in Muthoni’s opinion, is a clear sign that that the price of Litecoin is all set to scale up both in the short and medium-term.
Lastly, she believes that the move towards fungibility and confidentiality of Litecoin transactions (pioneered by Litecoin founder Charlie lee) will have the biggest impact on the steady rise in the value of Litecoin.
“I expect the price of Litecoin to reach $200 by the end of 2019.”
(vi) Oracletimes — $1,000 by the End of Next Year
The research team over at crypto prediction portal OracleTimes expects the price of Litecoin to scale up to around $1000 sometime during 2020. This projection is based largely on LTCs performance over 2017 — a period during which Litecoin was able to yield better financial returns than Bitcoin. With that being said, many of the conditions surrounding this nascent domain have changed quite considerably since then, so it will be interesting to see how the future of LTC plays out from here on end.
(vii) Steemit — $3,500 by 2020
Steemit’s finance team seems to believe that within the next 14-16 months, the price of Litecoin will surge by nearly 6000% and scale up to a price point of around $3,500. However, this prediction was made over a year ago, a time when Litecoin was trading close to the $150 range.
(viii) WalletInvestor — Worthless in the Long Run
For those of our readers who may not be aware of what WalletInvestor is, it is essentially a technical analysis website that provides its users with value projects related to a host of different digital assets. These predictions are based on many different factors including prior historical trends, presence of market catalysts, etc.
Lastly, WalletInvestors’ research team believes that Litecoin is a pathetic long term investment and that the currency could very well become worthless in the next 5-10 years.
(ix) AtoZForex — Positive Short-Term Outlook
The team at AtoZForex firmly believes that if Litecoin is somehow able to break past the $220 mark in the near future, it would not be surprising to see the currency scale up beyond the $300 threshold.
(x) MonteCarlo Simulator
Monte Carlo simulations show that big things might be in store for Litecoin soon. As per calculations exhibited by the technical analysis tool, there is a chance that Litecoin might surge past beyond the $500 mark over the next couple of years.
(xi) Longforecast — Between $780-$1350 by the End of Next Year
As the name suggests, LongForecast is a website that provides investors with specialized long-term forecasts in relation to many premier digital assets. In regards to Litecoin, the firm believes that by the end of 2020, the premier currency will trade anywhere between $780 and $1374.
(xii) Sean Keefe
Keefe is a Managing Partner at Straight Up Capital — a leading crypto investment fund, investing in decentralized tech, blockchain protocols, & digital and crypto assets. On the subject of LTCs financial future, he told Master The Crypto:
“I think that Litecoin is just okay. I think that Charlie Lee thinks that Litecoin is just okay. Not every new product (or asset) will break the whole market. Litecoin will follow Bitcoin and exist together with Bitcoin and other cryptocurrencies in a larger crypto ecosystem. But Litecoin will never reinvent the wheel. I think the price of Litecoin will correlate with the price of Bitcoin.”
(xiii) Moiseiev Yurii — Positive short-to-mid term outlook
Yurii might not be a household name like McAfee or Lee, but people who are serious about crypto know that he is one of the most well respected independent altcoin analysts in the market today. As per his TradingView portal, Yurii believes that Litecoin is currently experiencing an upward price movement which might see the currency scale up to around the $70 in the near future. However, LTCs key resistance level is at $64.15 while its current trade value lies just under the $58 mark.
(xiv) AlexWinkler — Hopeful about LTCs Future
Winkler is also a popular crypto analyst whose opinions are widely respected by members of the global crypto community. In his estimation, once Litecoin can thrust past the $70 barrier, investors will once again start putting their money into the premier digital asset.
(xv) Jeffrey Liu Xun — Will Depend Largely on Bitcoin’s Performance
During a recent interview, Jeffery Xun — CEO of XanPool, a P2P fiat gateway that is instant and does not require customers to take any custody risks — told MasterTheCrypto.com that Litecoin was doing a lot better than it was just a month back. In regards to the matter, he further highlighted:
“With the LTC halving not having “killed off” LTC, I believe the narrative that LTC is silver to Bitcoin’s Gold is still intact. That said, LTC will pump harder than BTC but will also dump harder. That is purely based on exchange order books being so thin. I believe that the price of LTC dropping so much was primarily due to the large LTC OGs dumping the asset for more Bitcoin. Now the speculation is that most of the OGs of LTC have already liquidated their stack, so I expect some stability in LTC relative to BTC. “
Elaborating his thoughts on the future valuation of Litecoin, Xun added:
“As for an absolute USD price. If Bitcoin dumps, LTC will dump even more. If Bitcoin goes below 6K, I believe we can see new lows in LTC (below 25 USD, perhaps even single-digit levels). If BTC pumps, LTC will be lifted by Bitcoins rising tide.”
Coindesk’s research team published an article last year in which they claimed that it would not be surprising to see Litecoin hover above the $240 mark by 2020. However, the fact remains that the top-10 altcoin is currently trading for just under $60 and thus it would be extremely surprising to see the currency surge past the $200 barrier anytime soon.
Some Notable Partnerships Worth Highlighting
Glory: Earlier this year, the Litecoin Foundation announced its partnership with international kickboxing promotion company Glory. The firm is well known and has hosted several premier fighting events since 2012. As per the agreement, kickboxing enthusiasts will now be able to pay for their tickets via Glory’s online merchandising platform.
C&U Entertainment: As one of K-Pop’s biggest promotion agencies, C&U recently signed an agreement with the Litecoin Foundation which will see LTC being promoted/advertised during the multinational’s ongoing tour program. Not only that, the deal also provides crypto enthusiasts with an opportunity to purchase certain tickets using their LTC holdings.
Miami Dolphins: The NFL franchise recently released a statement through which it announced its decision to allow Litecoin enthusiasts (who will be visiting ‘Hard Rock Stadium’ for the teams upcoming games) to purchase tickets for its 50/50 raffle with either Litecoin or Bitcoin.
I’m Aziz, a seasoned cryptocurrency trader who’s really passionate about 2 things; #1) the awesome-revolutionary blockchain technology underlying crypto and #2) helping make bitcoin great ‘again’!
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