2019-12-30 00:46 |
In this price prediction, we will put out our own and market’s opinion (both from popular algorithms and experts) on Litecoin future while discussing Litecoin price forecast for 2020 and beyond.
Since this year is almost done, Litecoin price prediction 2020 is way more interesting, so we made sure to include that section as well, just make sure to scroll all the way to the end.
Now, let’s get straight to it.
Before we delve deep into the Litecoin price prediction and answer questions if Litecoin is a good investment or not, why will Litecoin succeed or fail or while will Litecoin price rise or drop, let’s quickly do a review on Litecoin and its to date history.
Litecoin introLitecoin was created back on 7th Oct 2011 by Charlie Lee, an ex-Google employee, who quit working in order to focus on Litecoin full time. Charlie is very active on Twitter. You can read his blog here. Litecoin was designed to complement Bitcoin by solving issues like transaction timings and concentrated mining pools.
Litecoin has a different way of transaction and mining as the crypto king, but its price and growth still depend on its bigger brother.
Price of Litecoin has suffered heavily in 2018 and this year as Litecoin occupies fourth place in the top 10 cryptocurrencies in the world, ranked by market capitalization or market cap. Cryptocurrency market is yet in a search for a better metric than market cap to express the value of a coin project as market capitalization shows serious flaws and is unreliable tool for assessing a crypto project.
Will Litecoin Survive Beyond 2020Litecoin [LTC] is one of the coins that suffered biggest hit by the bear market. The overall market cap has dropped below $2.5 billion and seems the shedding is not over yet.
It is a well known fact that Charlie Lee sold at the peak of LTC price and tweeted a very good advice to the rest of the holders: On December 12th, 2017, Charlie Lee sent out a tweet telling people not to get too excited with the unsustainable bull run. Charlie warned about the pending multi-year bear market and that anyone who could not handle Litecoin (LTC) dropping to $20 should not buy it. While many attacked him as a FUD instigator, his reasons for making these assertions were rock solid and since LTC is now hovering just aboe $30. Charlie explained that every time the crypto market rises up too fast, it overshoots its real value, which leads to a huge correction, and a price consolidation. Charlie’s predictions have come true.
Charlie is not active in LTC for quite some time – it has been years since he contributed to the development of the once second largest cryptocurrency, that is now ranked at number 7 on CMC rankings.
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Being dubbed the silver to Bitcoin’s gold, Litecoin was introduced in 2011 as a quick fix that was supposed to solve some problems typical of the leading cryptocoin. With new projects flooding the market in the recent years, Litecoin’s role seems to be thing of a past – LTC is the odd man out and nobody can bring about a solid argumentation for Litecoin’s purpose in the future. And the reason I think Litecoin is dead is not because of price of litecoin – it dropped together with the whole market and not by its own fault. The reason is lack of unique value proposition – it is just blunt copy of bitcoin with couple of parameters changed.
Litecoin’s lack of vision hampers the price of LitecoinIt was that back in 2011 and it is that still in 2018. This lack of vision and will for separation from bitcoin and creation of your own niche will cost Litecoin its existence.
Litecoin can do everything Bitcoin can and it is often called a testnet for bitcoin. But who needs a multi-billion testnet – who needs two identical projects as one is enough and this is a winner takes all battle.
Litecoin depends on the bellwether coin. This is not just a hypothesis, this was Charlie’s vision from the project’s inception.
LTC enjoyed the treatment as a bitcoin’s little brother – technology was similar so exchanges and wallets could easily integrate it where ever they integrated bitcoin. This gave it exposure and liquidity which drove price of litecoin up especially as many would use it for faster transactions between exchanges or wallets as it had faster transaction time than bitcoin. In the meantime, there are many other coins that can be used for this purpose that are even faster and cheaper, almost free (Nano for example).
With Coinbase and other exchanges adding new projects, the top 10 market caps being dominated by some very diverse and colorful coins and a general lack of media attention and focus on Litecoin unless it makes some significant price movement, I’m not sure what would motivate new comers do the research necessary to learn about Litecoin’s potential.
Lack of clear use case also depresses the priceSo if Litecoin’s utility as a micro-payment solution is now in question, where does it stand? I suppose it could be the “silver” to Bitcoin’s “gold”, but if Bitcoins are (basically) infinitely divisible and act as a good store of value, then what does Litecoin do?
As Bitcoin network keeps being optimized and upgraded with new innovations like Lightning Network, use cases of Litecoin will disappear and so will its reason to exist.
Litecoin doesn’t have the name recognition that Bitcoin has. It does have a fantastic advantage to make improvements to itself much faster than Bitcoin does, but with the rise of so many other projects that have base codes that are already more fit for micro-transactions and scaling, has Litecoin missed the train? I would say yes.
LTC will continue to drop as investors move towards projects that are more realistic in their goals. If anyone replaces fiat, it is going to be bitcoin and not litecoin. Litecoin’s boon and curse has been its mirroring of bitcoin – they enjoyed the ride in the past but with every market contraction, we will lose projects that have no reason to exist, like Litecoin.
Our Litecoin Price Prediction 2020LTC, as the rest of the market, is tightly coupled and dependent on bitcoin’s price action. If bitcoin embarks on another bull run, LTC can hope for one as well. Since that is very unlikely, this litecoin price prediction guide in summary tells you to not expect much to change for LTC price-wise in this year. So 2020 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
Litecoin is troubled by the lack of interest of developer community as well, which is a further obstacle for Litecoin price rise.
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All of this summed up means one thing: LTC might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Litecoin price prediction will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect LTC will do them either. This litecoin forecast tells you that the price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Litecoin is an original gangster coin, bitcoin’s copy from the old days, one of the strongest brands in crypto space. Let’s check what are the market experts or crypto editorials saying.
Trading Beasts Litecoin forecastA crypto forecast website called trading beasts predicted in their litecoin forecast based on technical analysis that by the end of 2020, LTC expected price will be around $47, and only a bit higher in 2021 – predicted to rise up to $71.
Crypto Ground Litecoin predictionHere comes a more optimistic prediction of cryptoground also formed thanks to technical analysis, where they say in their litecoin price prediction that by 2020 end, LTC might reach $88, and in five years litecoin might reach $347.
CoinFan Litecoin predictionCoinFan is a website that offers Litecoin price prediction and predictions for every relevant cryptocurrency via their proprietary algo that computes price forecasts on the basis of technical analysis. Their algorithm is awfully bullish as they predict that Litcoin might reach $472 by 2020 end, and might reach $1687 by 2020 end.
Wallet Investor Litecoin forecastWallet Investor is known for their pragmatic cryptocurrency prediction. They believe in their Litecoin price prediction that LTC might drop $27 by December 2020, where the year high price might be around $45.
The post Litecoin Price Prediction 2020 – 2025 – 2030 | Future Forecast For LTC Price appeared first on CaptainAltcoin.
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