Litecoin is one of the major parts of the cryptocurrency industry. The coin is active for over 7 years now and managed to be successful for the most part of this period. However, recent market fluctuations strongly damaged the price of Litecoin. The coin’s price decreased almost 5 times over the course of 2018. Still, it looks like the recent drops of the price made the coin a perfect asset to invest in and gain profit from in the following year.
What is Litecoin?
Litecoin is one of the first Bitcoin forks. It was developed by Charlie Lee and initially presented as an open-source code via GitHub on October 7, 2011. The coin was designed as a more fast and scalable alternative to Bitcoin. The coin is very similar to its predecessor but has a number of significant differences. Due to the fact of the coin being constructed as a “lighter” alternative to Bitcoin, it got through some changes to improve its speed and availability.
Some of the differences between Litecoin and Bitcoin are:
- Decreased block generation time (from Bitcoin’s 10 minutes to 2.5 for Litecoin)
- Increased total supply of coins
- Different hashing algorithm (Scrypt instead of Bitcoin’s Sha-256)
- Modified graphic user interface
- Litecoin is often mentioned as a “silver” cryptocurrency with a reference to the “golden” status of Bitcoin. At the time of writing this article, Litecoin is placed 5th in terms of market capitalization with more than 4.8 billion USD of market cap.
You can find more info on Litecoin on BitcoinWiki.
|Curr. Supply / Total Supply||63,668,633 LTC / 84,000,000 LTC|
|ROI since launch||1,327.91%|
Litecoin Price Latest News
More than half of all Litecoin coins issued so far have not moved over the past year, developer Franklin Richards noted.
Richards said no transactions were made with 40 million of the 64 million in circulation over the past 12 months.
Most of these coins, according to Richards, were blocked during the fall of the market from November to December 2018. He also noted that a minimum of 12 million LTC is held by Coinbase.
We are not aware of any other addresses belonging to other major exchanges or services, although it is very likely that they exist. The main conclusion that can be drawn from these data is that there are currently a significant number of coins held in “strong hands” and by long-term bulls that accumulate and thus eliminate potential downward pressure on the market.Franklin Richards
Litecoin Price History and Analysis Since 2013
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 quite low with an average value of around 3 USD.
The first price peak in the LTC price history happened in November 2013, when its value almost doubled within one day and ultimately reached the price of 50 USD per coin on November 28. However, shortly after the peak, the LTC price dropped to the value of 10 USD per coin in April 2014 and further to a little over 1 USD in February 2015.
Litecoin (LTC) Price Analysis 2018
For the most part of 2018, the 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 Autumn, 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.
Litecoin (LTC) Price Analysis 2019
The first half of the year Litecoin has a bullish trend. During the period 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 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. Today the price of Litecoin (LTC) is $75.96.
Litecoin Technical Analysis
Well, there is not actually any technical analysis expertise of Litecoin cryptocurrency. However, here is the aggregate rating for LTC from several traders & analysts on TradingView.
Litecoin (LTC) Price Prediction for 2020, 2025, 2030.
Litecoin is still a good investment. Litecoin will not lose its relevance over the next 4-5 years, and its value next year can grow from 60-70 dollars to 300-400 dollars. Such a forecast promises a good profit for those who have already invested in LTC cryptocurrency or plan to buy cryptocurrency in the near future before the rate has not yet begun to grow actively. Now, let’s take a look at Litecoin price forecasts from leading prediction resources.
#1. WalletIvestor Bullish Price Prediction for 2020 & 2025
According to the WalletInvestor source, Litecoin coin price may drop by 20% to $59.9. In the nearest future, Litecoin won’t surpass Bitcoin. In 2020, LTC price can reach $169.8. In 2025, this price will increase 10 times, the coin will worth $1693.7.
#2. Longforecast Litecoin Price Prediction for 2020 and 2022
This year, the average price for LTC will be $81.1. In two years, the rate can increase by 25%.
#3. DigitalCoinPrice LTC Price Prediction for 2020 & 2025
Litecoin price will increase according to DigitalCoinPrice. In 2020, the price will have negative changes, it will drop to $103.444. In the long run, Litecoin is gaining momentum again, but it is unlikely to catch up with Bitcoin.
#4. TradingBeasts Litecoin Price Prediction for 2020 & 2022
During 2020, the rate will gain momentum and the average price will be $78.4. According to the TradingBeasts source, the coin will repeat the success of this year and go over the mark of one hundred dollars only in 2022.
#5. CoinPriceForecast Litecoin Price Prediction for 2030
The Litecoin price would rise from $374.59 to $617.41, which is +60%. Litecoin will start 2026 at $385.39, then soar to $410.17 within the first half of the year, and finish 2030 at $434.78.
What will eventually happen to the LTC Price?
Our forecast for Litecoin price is primary bullish. The coin definitely will not lose its popularity and will not leave the first lines of the cryptocurrency rating.
If the Bitcoin network encounters further difficulties, because the existing problem of scaling has not yet been completely resolved, a Litecoin may well expect even more rapid growth. Even despite the high level of Ethereum security and the convenience of using XRP, it is Litecoin that is often perceived as the main Bitcoin’s successor.
All of the exact numbers can be quite controversial, as Charlie Lee, the founder of Litecoin once said:
Buy Litecoin (LTC) at Best Rate
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.