Like Bitcoin, Litecoin is a cryptocurrency with enormous long-term projected growth. This helpful Litecoin Price Prediction guide will help investors understand if LTC will rise like Bitcoin and reach prices of $1,000 or more in 2020 and what it will reach beyond 2025.
Bitcoin was the first-ever cryptocurrency, sparking an entire industry of altcoins created in hopes of improving upon what Bitcoin sought out to achieve. Among the most common improvements altcoins attempt to make over Bitcoin, is improved transaction speeds. Litecoin is the first crypto asset to do so successfully, and it has cemented Litecoin’s place in the crypto market and as a financial asset with long-term growth potential.
This Litecoin price prediction guide will help investors make an informed decision if Litecoin is right for them, help them understand if Litecoin will rise as Bitcoin has in the long term, and provide an all-around Litecoin forecast that will help to determine what could Litecoin be worth in 10 years.
What is Litecoin?
Litecoin is a cryptocurrency designed by former Google and engineer for a crypto exchange, Charlie “Satoshi Lite” Lee. Lee is a controversial figure in the cryptocurrency space, known for selling off his Litecoin holdings at the peak of the last crypto bubble. However, Lee cited the move was done to alleviate a potential conflict of interest.
Lee is still heavily involved in the project, and is the Managing Director of the Litecoin Foundation, a team dedicated to pushing Litecoin adoption, increasing its value proposition in the market, and establishing Litecoin growth in the long term.
Litecoin’s code is a work of the Bitcoin Core client, and technically similar to Bitcoin. The main difference is a decreased block generation time of just 2.5 minutes, compared to Bitcoin’s ten minutes. This speeds up transaction times and its lightweight design is where the name “Lite Coin” came from.
Litecoin is among the top ten cryptocurrencies by market cap, giving it additional value and long term value, and is part of the reason why LTC price predictions can go so high – the assets listed in the top ten are often the most promising projects in terms of estimated growth and projected value, making them sound investments in what is otherwise a risky market.
Litecoin gets additional value from being so closely tied to Bitcoin, and is commonly referred to as digital silver to Bitcoin’s digital gold narrative. Both assets have a hard-capped supply that gives the assets a scarcity aspect that is similar to precious metals.
According to recent LTC news, Litecoin has been regularly used as a testbed for upcoming second-layer applications that will eventually be applied to Bitcoin, such as Segregated Witness and the Lightning Network.
Litecoin in 2020 and the History of LTC
Litecoin was among the top 3 performing crypto asset of last year in 2019, even beating out Bitcoin itself. However, Litecoin’s halving – a pre-programmed reduction in the block reward LTC miners receive – caused the LTC price to skyrocket, reaching over 600% returns before it began to correct.
At the start of 2020, the cryptocurrency began to lead the market once again, causing many began to wonder “why is Litecoin going up” when the rest of the market is stagnant.
After another 140% rally to kick off the new year, once again crypto investors and traders interested in LTC are asking the questions “will Litecoin go up in value,” “how high will Litecoin go,” and “will Litecoin ever reach 1000 dollars per LTC.”
However, given how strong Litecoin has historically performed, Litecoin will rise once again, and this LTC price forecast guide will reveal how much projected value and estimated growth in Litecoin’s market price will occur in the future.
Litecoin Experts Weigh in On Litecoin Projected Growth
The Litecoin forecast is bright, especially considering all of the support the crypto asset has earned from industry experts and big-name investors alike.
Dan Gambardello, Youtuber and Founder of Crypto Capital Venture
Crypto Capital Venture founder Dan Gambardello us exceptionally bullish on cryptocurrencies, but especially Bitcoin and Litecoin. Gambardello launched his own crypto-focused venture capital firm and looks to fund projects throughout the cryptocurrency industry. Not only is the nod of support from Gambardello significant, but he also has compared current price action in Litecoin to 2016’s price action, when Litecoin rallied to $300 after consolidating around $4 for some time. This time around, Gambardello believes Litecoin “Litecoin consolidates at around $70 before [a] massive run to $1,000+”.
Kim Rometo, Miami Dolphins Vice President & Chief Information Officer
In addition to Litecoin being named the official cryptocurrency of the UFC, it was also named the official cryptocurrency of the Miami Dolphins NFL football franchise. When the partnership was announced, Kim Rometo, Miami Dolphins Vice President & Chief Information Officer said that the “Miami Dolphins are always looking for ways to enhance the fan experience, and this partnership with Litecoin provides the ability for guests to enjoy our 50/50 raffle while donating to a great cause,” giving Litecoin its official stamp of approval.
Weiss Ratings, US-Based Investment Data Provider
Weiss Ratings is among the most respected investment data analysis firms in the financial market, providing investors with advice on which assets are expected to perform the best in the long term, but don’t offer any LTC price predictions. However, they do rate Litecoin as “excellent” in their ratings system, which is the highest remark any asset can receive.
Litecoin Historical Price Data
Litecoin’s supply is hard-capped at 84,000,000 LTC, with 63,240,704 LTC in circulation. In 2017 Litecoin reached its all-time high of $360.66 before falling back down to roughly $20 before bouncing back higher ahead of the halving in 2019.
Prior to the halving, Litecoin was trading at $140 per LTC coin, nearly half of its all-time high and an over 600% gain from its bottom price.
Another pullback caused Litecoin to reach $35 in late 2019, but after a higher low, Litecoin future price is only expected to increase from here.
Already in 2020, Litecoin has rallied over 140%, despite a current retracement cutting the asset back down to roughly $50 per LTC.
Despite the fall, Litecoin price has come a long way since it first launched many years ago. It started its price at around $3 per LTC, and has gone through a number of bubble cycles or “alt seasons” that have helped drive up the price significantly before a small correction occurs. Despite the corrections, Litecoin has a strong long-term price trajectory and outlook that suggest that Litecoin potential is extremely high.
Litecoin Price Technical Analysis and Price Potential
Technical analysis can be used to help investors and traders come up with a short-term and long-term price prediction for Litecoin, beyond just speculation. Here’s a breakdown of LTC price predictions broken down by year from some of the best industry analysts.
Litecoin Price Prediction 2020
Litecoin has spent the last two years trading within a large symmetrical triangle. Symmetrical triangles are neutral chart patterns, suggesting they could break up or down after many peaks and troughs in between.
However, because the multi-month structure was formed with a massive flagpole, it could be a bull pennant and not a triangle at all. Bull pennants lean bullish, and typically break upward in a powerful move that takes bearish traders by surprise.
Regardless of how the structure is defined, it could push Litecoin to revisit former resistance at $310 as a short term target for the triangle.
A breakdown of the structure would cause Litecoin to revisit prices between $5 and $7, however, this is unlikely given the asset’s recent growth and trajectory. Still, it is a possible scenario and target based on the formation being a symmetrical triangle.
An alternative look at Litecoin comes from Dalin Anderson on TradingView, who has a short-term target of $500 per LTC, and bases it on the asset following an early Bitcoin pattern. The same move would put Litecoin at a new all-time high.
Litecoin Price Prediction 2021 – 2022
Heading into the years of 2021 and 2022, the outlook for Litecoin and the rest of the crypto mareket is even more bullish.
If the structure is indeed a bull pennant, a longer-term target would be measured from the base of the pole to the top, similarly to a bull flag.
The next Litecoin and crypto bull market peak has the highest probability of occurring during these two years, before the asset class falls back into a bear market and the cycle will restart.
Litecoin’s projected bull pennant target would put the price of Litecoin over $4,600 per LTC between 2021 and 2022. This is nearly a 10,000% gain from current levels – a similar projection from the last major bull trend, proving how this same sort of price action could develop in the years to come.
Trader Turco, an analyst on TradingView provides a different take and sees Litecoin reaching price predictions as high as $5,000 per LTC coin win in the year 2022 and beyond.
Litecoin Price Prediction 2023 – 2025
Following the peak in either 2021 or 2022, Litecoin will fall back into another bear market, before the cycle then starts yet another time. Markets are cyclical and history repeats itself.
Litecoin should not at this point ever fall below roughly $700, according to the bottom of Litecoin’s growth corridor, giving today’s investors confidence in their long-term ROI.
In terms of a high, Litecoin could reach highs of over $90,000 between 2023 and 2025 or beyond. While most people assume only Bitcoin could ever reach such highs, Litecoin is yet another digitally scarce asset with powerful potential, hence the high price predictions for the cyrpto asset.
Conclusion: Is Litecoin a Good Investment and How Much Will LTC Be Worth?
Using the analysis from some of the industry’s best analysts and traders, LTC projected growth could reach a profitable projection as high as $80,000 in the long-term outlook, which would make it among the best performing assets of all-time, next to Bitcoin.
Litecoin has been struggling to reclaim its previous all-time high, and according to analysis lower prices could be met before some of the biggest price predictions are ever reached. On the lowest end of the scale, analysts see $31 as the absolute bottom for Litecoin in the days ahead.
The below table can be used as a quick reference for the minimum and maximum projections that can be expected for Litecoin from 2019 to 2025. Beyond that, anything is possible depending on how widely cryptocurrencies are adopted and if they begin to replace fiat currencies like the Euro or USD.
|Year||Potential High||Potential Low|
|2023 – 2025||$90,000||$8,721|
Due to how far Litecoin has come, growing from low prices around $3 to as much as $360 at its all-time high peak price, it’s clear that Litecoin is a strong performing investment. With the asset’s price rising and falling to such extremes, Litecoin is a trader’s dream as they can profit from both long and short positions as LTC bounces between peak and trough.
Traders can take advantage of similar tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on either the LTC/USD pair, or the LTC/BTC pair.
PrimeXBT offers Litecoin alongside other popular cryptocurrencies Bitcoin, Ethereum, Ripple, and EOS, as well as traditional assets such as the most popular forex currencies, commodities, stock indices, and spot contracts for gold and silver.
Litecoin has garnered the attention from the likes of many sports leagues, and is the official cryptocurrency sponsor of the UFC, the MMA brand also known as Ultimate Fighting Championship.
Litecoin also has strong support in the development community, and is often used as a testbed for other digital currency projects, due to how much developer activity the crypto asset has, and due to how simple it is to work with.
Litecoin has also consistently stayed in the crypto market top ten by market cap, a feat that not many other altcoins can claim. Litecoin is supported by most countries regulatory entities, as it is among the earliest cryptocurrencies to hit the market. It is also extremely popular with retail investors, traders, and more.
Litecoin’s strength in the market shows frequently, as it is the altcoin asset that most commonly leads rallies, and its recent halving helped pull Litecoin, Bitcoin, and the rest of the crypto market out of a bear market and into a bull market.
With so much going on in Litecoin’s favor, it is easy to see why analysts and industry experts have made such strong Litecoin price predictions. Using the facts and predictions found in this guide, investors can determine if investing in or trading Litecoin is right for them.
The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities and similar products. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs (Contracts for Difference), Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. PrimeXBT recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued.