Predicting the future is a tough proposition, especially when it comes to the value of cryptocurrencies.
While wild swings in valuation might be sexy for news headlines, it makes for queasy stomachs when it comes to investing. That’s why Litecoin presents a more sensible alternative to the often wildly fluctuating cryptos out there.
Again, truly predicting the future is a tough thing to do – and if we could, we’d be out cornering the market ourselves. That said, a trader’s best weapons is information.
In this article we will present what Litecoin (LTC) has going for it and what it has working against it in terms of its future price. This information might help you make better predictions as to the value of the currency and, hopefully, make a tidy profit from your activities.
Litecoin Price Forecasts: Factors working in the favor of Litecoin
1 Advantages over Bitcoin for everyday use
Litecoin’s relatively low value and high volume make it a lot more likely to be used in commerce than Bitcoin which, even at its lows, is still wildly expensive and limited in circulation. When people talk about cryptocurrencies replacing fiat money, they are typically talking about the things that Litecoin can do. In terms of presenting the lowest barrier to entry and the most prepared platform for handling commerce right out of the gates, Litecoin is poised to become a substantial player in the market when it comes to business to consumer and consumer to consumer transactions.
2 Supply of LTC
There’s a lot of Litecoin in the marketplace, and this makes it accessible and affordable - as well as a market opportunity for investors. Of the 84 million outstanding coins, 55 million are estimated to have been mined and put into circulation. This means that scarcity will become an ever more present issue for Litecoin mining which will, in turn, drive up the price of the individual Litecoin.
3 Litecoin Foundation
Similar to the team behind the popular Mozilla Firefox browser, Litecoin is supported by a dedicated cadre of programmers and evangelists that push the cryptocurrency out for widespread use in society. Not only that, but also this group helps other explore new applications for Litecoin as well as helps them deploy new initiatives that take advantage of the currency.
4 Featured on Tons of Exchanges
Like Ethereum and Bitcoin, Litecoin enjoys a mainstream popularity that makes it particularly attractive to traders. This is because it is easy to convert, whether to another cryptocurrency or even back into a fiat currency. And this isn’t an advantage that should be overlooked. Many ICOs rely upon the more prominent cryptocurrencies to launch the initial coin offering, and this accessibility has a tendency to spike prices due to increasing numbers of people buying into the platform.
5 Supported by Coinbase
Even though Litecoin isn’t not as attractive in terms of immediate valuation as Bitcoin and Ethereum, it is nonetheless one of the pillars of Coinbase, one of the world’s largest cryptocurrency exchanges. This support insures that Litecoin has a huge, captive audience and that is a good sign for people just getting into the market that might worry about access and usage restrictions.
Litecoin Price Forecast: Factors working against Litecoin:
This could be listed for a lot of the most popular cryptocurrencies on the market but it is something that is worth keeping in mind. Intense competition among major and minor players on cryptocurrency exchanges can sometimes lead to wildly fluctuating values for coins. Litecoin is not immune to this and, as one of the lower-valued cryptocurrencies, it is especially susceptible to something “new” coming onto the market and taking its share away.
2 Lack of Sex Appeal
Some would say that this is a lack of widespread adoption, and this is true, but this is mainly because the cryptocurrency lacks sex appeal like Ethereum and Bitcoin. Those two, commanding huge sums of money at their heights, regularly feature in the popular press and this has a upward effect on their price. Litecoin might be easy to buy and use, but if no one wants to use it, the platform will go nowhere really quickly. As you can imagine, this will not have a positive impact on its price.
3 Increased Government Regulation
This is another warning that could be applied to most cryptocurrencies but is especially true with the majors like Bitcoin, Litecoin, and Ethereum. The more prominent you are, the more you have to lose when the regulatory environment surrounding your product changes. If governments around the world start subjecting cryptocurrencies to increased scrutiny, you can expect this will have a negative impact on the price of the currency.
4 General Volatility
Litecoin’s price highs and lows are wild and varying, even more so than some of the other cryptocurrencies on the market right now. It is tough to use past behavior to model future behavior when the data is so limited and so volatile but, using what we have, the price of Litecoin could go anywhere - and that’s not the most comforting feeling for the wary investor.
5 Litecoin Variants
While the various “forks” of Litecoin are one of the platform’s strengths, this is also a potential area of scandal for the cryptocurrencies. Those that have hit the market have had a positive impact, but there is no reason to believe that one won’t be released that dilutes the value of Litecoin.
Litecoin Price Prediction 2018, 2019 and 2020
The above highlights the key characteristics of Litecoin which denotes situations on how the coin could potentially react favourably or likewise, unfavourably to any movement in agendas and stakeholders’ commitment in the cryptocurrency market. We’d like to see it as a case study, but it’s really not as complicated as it seems.
Here’re three rules of thumb to predict the price of Litecoin. To make this easy to remember and understand, let’s picture Litecoin as a person.
Firstly, identify the similarities between Bitcoin, Ethereum and Litecoin. This would give you a good idea on when Litecoin would be riding the same wave as the two giants. We’ll call this the ‘Buddy’.
Secondly, take note on factors that doesn’t work for Litecoin so you will know when to temporarily “park” your investment elsewhere whenever an announcement arises. This would be the ‘Rival’.
Last but not least, be reminded that everyone has a unique ‘Winning Card’ which gives a competitive edge to the holder. In this case, the Litecoin aims to correct all that went wrong with Bitcoin, a move which could potentially lead to fans migration from Bitcoin giant to Litecoin.
With all the above being said, one crucial question remains. When will Litecoin resurface from the dive? P.S. Litecoin grew by more than 8000% in 2017 alone.
Large majority of experts were aligned in the crypto-stars, that Litecoin has all the key foundations to propel to greater heights in 2018. Is it really true that Litecoin’s price would skyrocket between USD500 to USD600, hovering above its fellow competitors, Bitcoin, Ethereum, Ripple, Dash and Monero, before 2018 comes to an end?
Here’s everything you need to know about Litecoin price forecast for 2018 and possible price in 2019, by some of our favourite experts of the field:
To recap, Litecoin is a fork of Bitcoin and so both shares great similarities in terms of the use of codebase and work mining proof, with an exception that Litecoin is an improved version of what Bitcoin is not capable of. For example, Litecoin far excels Bitcoin in terms of transaction speed with a bolt speed record of up to 2.5 seconds to complete an operation in comparison to its predecessor of 10 minutes. Not only Litecoin was widely used to fulfil all generic blockchain procedures, it also has the capability to be used as a fiat currency. On top of having super speed, Litecoin’s platform ensures secure transaction at a much lower fee than Bitcoin. On the setback, the usage of scrypt in Litecoin’s proof-of-work has made the coin more difficult to be mined. Is Litecoin is the better version of Bitcoin? Possibly.
This gives you a better understanding on why Forbes was optimistic on Litcoin’s price predictions in 2018. The global media company has highlighted five key supporting factors:
(i) Litecoin as the Beneficiary of Bitcoin’s Futures Trading and Growth
Over the years, we’ve observed that whenever a positive development arises in the Bitcoin community, there is a simultaneous flow in traffic from Bitcoin to Litecoin followed by other projects. Saturated traffic within the Bitcoin network resulted in a congested platform while elevating the transaction fee at the same time.
(ii) Litecoin joins the Cryptocurrency Ivy League
Coinbase joins the marketplace league alongside Bitfinex and Binance, capturing over 100 thousand new users daily, featuring well-known coins and Litecoin is one of them. The exchange has given Litecoin additional exposure to a larger community. Litecoin now ranks highly as one of the most actively traded currency in the exchange.
(iii) Litecoin as the Better Version of Bitcoin
And yes, the community begun to appreciate whatever that makes the coin a better alternative than its predecessor.
(iv) Litecoin Works at Lightning Speed
Clearly, having cheaper transaction fees and faster operations has given Litecoin a competitive edge over others. The coin attracted a large following of investors who desire instant and efficient blockchain solutions, a key feature that most coins are struggling to achieve.
(iv) Litecoin as the Rising Star
Litecoin has gained massive coverage from reputable spokepersons, celebrities, entrepreneurs, athletes and even medical experts which constantly places the coin at the spotlight.
2 Brian Kelly
Founder and CEO of BK Capital Management (LLC) Brian Kelly predicts that Litecoin price in 2018 may be USD500. Kelly suggests that Litecoin is an attractive investment project with good prospect being that the project enables transaction to be carried out quickly and coupled with considerably low transaction fees. BK Capital Management (LLC) is a digital currency investment management firm based in Wall Street.
3 Charlie Lee
When Lee left Litecoin to join Coinbase, it sent a false alarm to the market. However, Lee has been observed to be taking gradual steps to take part in the management team of his brainchild and is now back on the project team again. When interviewed for price projection of Litecoin, Lee refused to give a figure but make a remark that “2018 will be a good year for Litecoin”.
The price of Litecoin will rise to USD2,000 rather soon if the coin continue to remain stable above USD240, says the team from Coindesk. Just like the other coins, the pricing of Litecoin is greatly interconnected with any news or tweets from Charlie Lee on top of new launch of interesting features, so that’s really something we should look out for.
5 George Tung
Tung, founder of CryptosRus.com and Cryptos R Us Insider predicts that price of Litecoin could escalate to a figure as high as USD1500 by end 2018.
Litecoin price may be up to USD1,000 in 2018. That’s not surprising at all as Litecoin demonstrates a significantly larger growth and speed of recovery in 2017 in comparison to Bitcoin.
7 John McAfee
Avid cryptocurrency critic, whale investor, technology entreprenuer and renowned public figure of the crypto niche industry, McAfee opines that Litecoin’s valuation has yet to reach its full potential and could be well on track to grow way beyond Bitcoin.
Oracletimes.com predicts that in 2018, Litecoin price may fluctuate between USD1,000 to USD2,000. The numbers was made based on the assumption that more investors will come to a realisation that Litecoin is the next best alternative to Bitcoin to maximise ROI and lower risk.
Analysts of Walletinvestor.com made two price prediction on Litecoin for short term and long term basis. Litecoin could potentially achieve a mark of USD414 in a year time and peaks to USD1175 on the fifth year which translates to approximately 425%. The forecasts was derived by using the generic Graph Technical Analysis, a technique fully based on historical price, current price and trade volume trends, without taking into account of the ideation or technology behind the project.
The same technique was adopted by Atozmarket.com, a similar website revealing that should Litecoin breaks the resistance level of USD220, it could easily sky rocket to USD300 in the short term.
Alternatively, Monte Carlo algorithm analysis were utilized and unveils Litecoin’s price in 2019 would range between USD6 to USD507. You might realize by now that the variation between one technical analysis from one or the other is significantly huge, which is absolutely normal due to the volatility of the market. The key takeaway is that USD507 should be the highest price that Litecoin in 2019 could go before seeing a fall.
Longforecast.com is another website that aims to provide long-term financial forecasts using technical analysis, which is particularly useful if you are not an active investor. According to Longforecast, Litecoin price prediction in 2020 may be in the range of USD780 to USD1374 which seems to be rather decent.
Is Litecoin Worth Investing In?
Making predicting of the future performance of any cryptocurrency is not an easy task as the market is highly unregulated and constantly open for speculation. However, risk could be minimised if research are done well and the safest way is only invest in something that you truly believe in.
Since launch, Litecoin is constantly presented with a series of opportunities and challenges that could impact the coin’s value in the future that’s worth noting:
1. Litecoin as the “Bluechip” Coin. Literally.
Litecoin has all the key characteristics on what makes it a great cryptocurrency to HODL. It is among one of the longest and well-established fiat currency in the market. The coin is highly recognised by savvy investors for its credibility and is widely traded on large exchanges. This makes Litecoin a relatively lower risk investment particularly in a volatile and complex industry, yet possess huge scalability.
In comparison to other altcoins, Litecoin may ultimately the best, most secure, and surprisingly, the one with the most untapped potential.
2. Charlie Lee’s Zero Stake in Litecoin.
Last December, Charlie Lee, founder of Litecoin announced that he has sold all of his stakes in Litecoin and the proceeds were donated to charity. The reason? He felt that having strong influence on LTC may result in a conflict of interest as well as his remarks on Twitter would significantly impact the coin’s market position. Lee hopes to focus on building a Litecoin for the better.
However, this move was highly scrutinised by analysts claiming that the selloff was made when Litecoin was trading at a price that’s five folds above prior month’s record and his action has resulted in a blurry outlook of the coin. On the other hand, some commentators believe it’s a wise move for the best of Litecoin.
3. Please Bring Litepay Back
Litepay is a type of Litecoin payment system that uses LitePay debit card, which makes accepting, storing, spending and converting Litecoin into USD super easy. The launch of Litepay would be a strong catalyst of growth and mass adoption of Litecoin as THE next currency. However, last that we know of was the project has been dropped due to a mismatch in expectations versus ability of the team and tough defence from retail banks, which eventually led to Litepay’s cessation in operations for good. This may not be the last that we’ll hear of the project and so keep an eye out for possible restoration.
4. Litecoin-Abra. A Classic Example of Going Back to Square One.
To recall, Abra sealed a collaboration with Litecoin to create a payment network based on Litecoin’s smart contracts of peer-to-peer cryptocurrency to strengthen Abra’s e-wallet and exchange platform. The news sent Litecoin’s price soaring by 20% to USD136 with the prospect that Litecoin may become Abra’s primary asset class in the near future.
Shortly after the news broke on the separation of Litepay and Litecoin, Litecoin’s lost close to all of the initial earnings made from the alliance with Abra. Nevertheless, the collaboration is still ongoing, so we may expect some good news soon.
P.S.: We’ll constantly update this article to remain relevant, according to any changes in the marketplace. So why not, do yourself a favor by bookmarking this page for future reference? 😉
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