Litecoin was the third cryptocurrency by market capitalization for a long time. Litecoin crypto coin has been active for over nine years now and has managed to be successful for most of this period.
However, recent market fluctuations and the defi market hype strongly damaged the price of Litecoin. We, at Changelly, respect one of the first cryptocurrencies no matter the rate. The coin’s price decreased almost five times throughout 2018. Still, it looks like the recent drops of the price made the currency a perfect asset to invest in and gain profit from in the following year.
This article will explain the fundamentals of Litecoin cryptocurrency, whether it is going to grow or fall. We’ll find out the basics of the LTC coin and its future. Read our Litecoin price prediction for 2020 to 2025 and decide whether LTC is worth investing in or not.
LTC coin is very similar to its predecessor but has some significant differences. In 2017, Litecoin became the first cryptocurrency to implement SegWit to solve the scalability problem.
Since the LTC coin was constructed as a lighter alternative to Bitcoin, it got through some changes to improve its speed and availability.
Bitcoin vs. Litecoin
Some of the differences between Litecoin and Bitcoin are:
Decreased block generation time (from Bitcoin’s 10 minutes to 2.5 min for Litecoin)
Increased total supply of coins
Different hashing algorithm (Scrypt instead of Bitcoin’s Sha-256)
Modified graphic user interface
Litecoin used to be mentioned as a silver cryptocurrency regarding the golden status of Bitcoin. Litecoin is placed 8th in terms of market capitalization with more than 2 billion USD of market cap, at the time of writing.
Litecoin (LTC) Live Price
Litecoin In 2020 and the History of LTC
The coin was fast to get the attention of the small but growing cryptocurrency community of the time. However, after its launch on October 8, 2011, its price remained to be relatively low, with an average value of around $3.
The first price peak in the LTC price history happened in November 2013, when its value almost doubled within one day and ultimately reached 50 USD per coin on November 28. However, shortly after the peak, the LTC price dropped to 10 USD per coin in April 2014 and further to a little over 1 USD in February 2015.
During 2018, Litecoin’s price graph has been demonstrating a descending trend. Despite its established position in the industry, the coin was affected by the overall descending dynamic of the market. The downward LTC price trend only changed a couple of times – in February and April.
However, it looks like the coin managed to find a stable position. Since the start of the fall, there was only one significant LTC price drop and for the most part, the coin’s price evaded the overall market’s volatility. LTC price even increased during the period from December 8 to January 30.
In the first half of the year, Litecoin has a bullish trend. From January to June, LTC price increased four times from $31.02 to $138.4. The reason for this price increase was the upcoming halving, which took place on August 5.
People believed that the price should go up after halving, so they bought a lot of LTC coins, thereby raising the price themselves. It was quite predictable that the price would go down by almost 50% after the halving. That is what happened.
During 2020, Litecoin was in a downtrend. The year started at $41. Then LTC managed to double and reached the $80 level in February, but the holiday quickly ended when Litecoin was unable to withstand market pressure in mid-March and fell up to $27. Since then, the asset began to recover and rose 57% from the minimum, and then reached the price of $43 at the time of writing. Thus, the growth was minimal relative to the quotes of January 2020.
Litecoin Experts Weigh in On Litecoin Projected Growth
There are many experts and influencers who are inspired by Litecoin cryptocurrency. Let’s take a look at the brightest future predictions.
John Kim from Litecoin Foundation
John Kin calls himself a Litecoin evangelist. In Litecoin, he is one of the key figures of the development team. When Litecoin reached $50, the developer set a new goal of $60.
Dan Gambardello, Youtuber and Founder of Crypto Capital Venture
Dan Gambardello always is quite bullish on cryptocurrencies, especially Bitcoin and Litecoin. In 2016, the Litecoin price reached $300! Gambardello predicted this at a time when Litecoin was worth $4. Now the expert is talking about a rise in prices. According to him, Litecoin can reach $1,000.
Crypto Research Report Group
According to the Crypto Research Report Group, Litecoin is headed to the following points in the future: $83 in 2020, $1,200 in 2025, and $2,250 in 2030. Quite bullish.
Past Litecoin and LTC Price Predictions That Got It Right
As in any sphere that can be predicted, there are people who are either wrong or right. Obviously, the latter group is smaller. The most exciting thing is that Charlie Lee, the main developer of Litecoin cryptocurrency, participated in those right-men. It can only be a firm belief in his project. Now, let’s look at the details.
Profit Confidential Analysts, Financial Research Firm
In 2017, the Profit Confidential company predicted that Litecoin would hit over $200. At that moment, the story seemed impossible, because the LTC coin was traded on exchanges for $60. Surprisingly, a little later in the same year the value of the asset reached $300 per coin.
Charlie Lee, Litecoin Creator
Of course, the creator always believes in his creation as much as Charlie Lee believes in Litecoin. However, he did not predict the growth of his coin, but the fall. So he predicted a drop from $300 to $20. As we have already said, in 2017, the LTC coin reached incredible heights of $300, but by December 2018, it had dropped to $20. Unfortunately for Charlie Lee, he was right.
Litecoin Price Technical Analysis and Price Potential
Technical analysis is the study of the history of prices and trading volumes in order to identify patterns on the basis of which price dynamics are predicted. The technical analysis applies to any asset with a history of price changes, including cryptocurrencies, fiat money, commodities, and stocks.
Technical analysis is used primarily as a tool for predicting price movement and market behavior. Technical analysis is more popular for the short term analysis. Let’s look at Litecoin in terms of technical analysis for the short term prediction. We’ll use the fundamental analysis to determine the long-term prospects of the LTC coin.
Litecoin Price Prediction 2021 – 2022
According to the TradingView user TopTradingSignals, it’s time to sell Litecoin by the end of 2020. The coin may be pushed down by the overall market situation. However, this opinion is not the only one.
Amatiash user sees the big triangle on the current Litecoin graph. We can see the definite downward trend that can bounce the coin price right by the end of 2020 — absolutely the opposite opinion from the previous speaker.
Over the past 12 months, there have been some events that have raised concerns about the long-term outlook for this cryptocurrency and affected Litecoin’s outlook. Last August, the reward for a new block was cut in half, and it did not generate as much hype as it did with BTC in May. This led to a drop in the LTC hash rate by more than 70%.
According to the Swiss cryptocurrency bank SEBA, miners are skeptical about the upside potential for Litecoin. If we consider Bitcoin, Ethereum and Litecoin, then the first two coins demonstrate a healthy commitment of the team to developing their projects. Litecoin cannot boast of an equally large development team and does not so often please the fans with updates than other coins. As a result, this undermines the confidence of miners in the fundamental prospects of LTC.
Litecoin Price Prediction 2023 – 2025
We can’t say that we are sure with these long-term predictions that we’ll talk about down below. We’ve accumulated all the AI services’ forecasts like Wallet Investor, Digital Coin Price, and more in the tables below so you can see the possible figures in the next five years.
Digital Coin Price
Charlie Lee About Litecoin Future
Charlie Lee, the head of the Litecoin Foundation and creator of Litecoin cryptocurrency, believes that Bitcoin’s price will rise to $20,000 in the next three years. The expert stated this in the project’s Telegram channel on Monday, February 4, a screenshot of the message was published by The Daily Hodl.
By the way, the creator of Litecoin sold all of his tokens at their peak when their price approached the all-time high of $370. He explained that he wanted to get away from conflicts of interest and accusations of manipulating the cryptocurrency value for his benefit.
Conclusion: Is Litecoin a Good Investment and How Much Will LTC Be Worth?
Charlie Lee once spoke about price predicting and said it was impossible to predict any coin’s price. This is understandable since the price of a coin depends not only on existing factors but also on those that appear in market development. These factors constitute the fundamental analysis of the coin.
You can always do your own research based on the project roadmap, the implementation of the declared milestones, the developers and the top managers’ reputation. Social media activity and feedback from users and token holders can also help you make the right choice. The cryptocurrency market is so volatile that it is impossible to predict the exact value of the currency, but only the direction of the development of the common market.
Keep in mind that Litecoin is a pretty established coin in the cryptocurrency world. We’ve all known Litecoin and its team for a long time, so investing in this cryptocurrency is quite safe. Always keep an eye on market changes, especially Bitcoin, which is most often reflected in all altcoins.
As you’ve already understood, investing in Litecoin is safe and possibly profitable. Our service can help you with this. For many years now, we have been assisting users in exchanging and buying coins in the blink of an eye. We offer a range of rates so that you can choose the best ones for buying or swapping Litecoin in the widget below.
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