Litecoin (LTC)
As most of our audience is likely aware, the year 2018 brought an overwhelming amount of bearish sentiment to the crypto marketplace, culminating in a decline in the value of numerous leading digital currencies by over 80%. In this context, it is essential to note that last year BTC plummeted to a relative low of $3,000 after reaching its all-time high (ATH) of around $20,000 just a few months earlier.
Given all this information, this piece will primarily center on Litecoin, a top-10 cryptocurrency that presently boasts a total market capitalization exceeding $3.5 billion. The initiative was created by Charlie Lee, a former Google employee, to enable crypto enthusiasts to carry out their everyday transactions using a decentralized digital currency. Moreover, the foundational structure of Litecoin has been constructed on the same blockchain technology utilized by BTC. Nonetheless, it is important to highlight that in terms of transaction capabilities, the processing speeds provided by LTC are significantly faster than those offered by Bitcoin. For context, a typical BTC transaction takes about 5-12 minutes to process. Conversely, it takes Bitcoin transactions approximately 150 seconds to complete on average.
Key Features of Litecoin That Deserve Attention
Speed: As stated earlier, one of the key features of Litecoin that distinguishes it from other leading altcoins is its transaction speeds and capabilities.
Total Supply: When contrasted with Bitcoin, LTC’s total token supply is notably larger. To elaborate, while there can only ever be a maximum of 21 million BTC, Litecoin’s total supply can reach an impressive 85 million tokens.
Low Transaction Fees: While well-established cryptocurrencies like BCH, BTC, and ETH have relatively high fees (for each individual transaction), LTC’s transaction costs are considerably lower.
Moreover, in addition to the aforementioned features, it is noteworthy that throughout 2018, Litecoin emerged as one of the top-performing crypto assets in the market. For instance, if an investor had acquired LTC at the beginning of 2017, they would have realized gains exceeding 8000% by the year’s conclusion.
Leading Predictions for Litecoin’s Price:
We will now examine forecasts from various crypto analysts, experts, and finance teams that have been engaged in this field for some time. It is important to note, however, that these views represent their own opinions and potential investors should conduct their own thorough research before investing significantly in any cryptocurrency.
(i) John McAfee — Very Optimistic About Middle-Term Future
McAfee’s standing within the global crypto community has grown to almost legendary status (especially in recent years). Since 2017, the digital security innovator has made numerous bold predictions regarding the value of Bitcoin (many of which have proven accurate). Recently, in an interview with a well-regarded media outlet, he stated that Litecoin too has a promising future ahead and that the top-10 altcoin has yet to reach its financial peak. In McAfee’s view, Litecoin could experience a remarkable upswing and attain new heights within the next 12-16 months.
(ii) George Tung — $1,500 by the End of 2019
Reputable crypto analyst/investor George Tung recently made a statement indicating that by the end of 2019, Litecoin’s price might rise to as high as $1500. Nevertheless, given that the digital asset is currently trading near the $58 mark, it seems improbable that Tung’s predictions will materialize unless there is a dramatic turnaround in the market within the next few months.
(iii) Charlie Lee — Price Will Surge During 2019/2020
Lee’s recent return to Litecoin was seen by many as a potential catalyst that could drive the price of the digital currency upward. Even though Lee has vested interests when predicting Litecoin’s price, he genuinely believes his creation will experience an unprecedented rise by the end of this year or early next year.
(iv) Brian Kelly — $500 Within the Next 3-5 Months
CNBC’s Brian Kelly opines that Litecoin could reach a valuation close to $500 soon. Kelly, who is also the founder of BK Capital Management (LLC), has been closely monitoring the digital currency market for a considerable time and is regarded by many investors as an expert in this area. His optimism is rooted in the fact that LTC provides users with several benefits over Bitcoin— particularly regarding its faster transaction speeds and reduced processing fees.
(v) Edith Muthoni — $200 by the End of 2019
Edith Muthoni is a professional investment writer, stock trader, and personal finance coach. She is currently the chief editor at LearnBonds.com, a personal investment site and community boasting over 100,000 monthly readers. In a recent discussion with Master The Crypto, she expressed that Litecoin’s future appears quite promising for several reasons, including:
The coin has shown bullish behavior for most of the year and in the last nine months, its value has more than doubled. This leads Edith to believe that this upward trend will persist into 2020.
A brief examination of Litecoin’s price trends before and after its recent halving process indicates that the premier digital currency has significantly stabilized. In Muthoni’s view, this is a clear indication that Litecoin’s price is poised for growth both in the short and medium term.
Finally, she asserts that the push towards fungibility and privacy in Litecoin transactions (initiated by Litecoin’s creator Charlie Lee) will significantly influence the steady increase in Litecoin’s value.
“I expect the price of Litecoin to reach $200 by the end of 2019.”
(vi) Oracletimes — $1,000 by the End of Next Year
The research team at crypto prediction platform OracleTimes anticipates that the price of Litecoin will rise to around $1,000 sometime in 2020. This prediction is largely based on LTC’s performance during 2017—a period when Litecoin yielded better financial returns compared to Bitcoin. Nonetheless, many of the circumstances surrounding this emerging sector have changed quite a bit since then, making it intriguing to observe how thefuture of LTC unfolds from this point onward.
(vii) Steemit — $3,500 by 2020
Steemit’s financial team appears to anticipate that in the coming 14-16 months, the value of Litecoin will soar by nearly 6000% and reach a price target of around $3,500. Nonetheless, this forecast was made over a year ago, during a period when Litecoin was valued near the $150 range.
(viii) WalletInvestor — Worthless in the Long Run
For those among our readers unfamiliar with WalletInvestor, it is primarily a technical analysis platform that offers users value assessments related to various digital assets. These forecasts are formulated based on numerous factors including past historical patterns, presence of market stimuli, among others.
Ultimately, WalletInvestor’s research team opines that Litecoin is a disappointing long-term investment and that the asset may very likely become worthless within the next 5-10 years.
(ix) AtoZForex — Positive Short-Term Outlook
The AtoZForex team strongly believes that if Litecoin manages to surpass the $220 milestone in the near future, it would not be unexpected to see the cryptocurrency climb beyond the $300 mark.
(x) MonteCarlo Simulator
Monte Carlo simulations indicate that significant developments may be on the horizon for Litecoin soon. According to calculations presented by the technical analysis tool, there exists a possibility that Litecoin could surpass the $500 mark within the next couple of years.
(xi) Longforecast — Between $780-$1350 by the End of Next Year
As its name implies, LongForecast is a platform that supplies investors with specialized long-term predictions concerning numerous leading digital assets. Concerning Litecoin, the firm believes that by the conclusion of 2020, the leading currency will trade anywhere from $780 to $1374.
(xii) Sean Keefe
Keefe serves as a Managing Partner at Straight Up Capital — a prominent crypto investment fund focused on decentralized technology, blockchain protocols, & digital and crypto assets. Regarding LTC’s financial future, he shared with Master The Crypto:
“I believe that Litecoin is just mediocre. I think that Charlie Lee perceives Litecoin similarly. Not every emerging product (or asset) will disrupt the entire market. Litecoin will trail Bitcoin and coexist with Bitcoin and other cryptocurrencies within a broader crypto ecosystem. However, Litecoin will not revolutionize anything. I think the value of Litecoin will mirror the value of Bitcoin.”
(xiii) Moiseiev Yurii — Positive short-to-mid term outlook
Yurii may not be a widely recognized name like McAfee or Lee, but serious crypto enthusiasts understand that he is among the most esteemed independent altcoin analysts active today. According to his TradingView portal, Yurii believes that Litecoin is presently experiencing a positive price trajectory which might lead the currency to reach around $70 soon. However, LTC’s primary resistance level stands at $64.15 while its current trading value hovers just below the $58 marker.
(xiv) AlexWinkler — Hopeful about LTC’s Future
Winkler is also a prominent crypto analyst whose insights are highly regarded within the global crypto community. In his view, once Litecoin manages to overcome the $70 barrier, investors will once again begin to channel their funds into the leading digital asset.
(xv) Jeffrey Liu Xun — Will Depend Largely on Bitcoin’s Performance
In a recent discussion, Jeffery Xun — CEO of XanPool, a peer-to-peer fiat gateway that operates instantly without requiring clients to assume any custody risks — informed MasterTheCrypto.com that Litecoin is performing significantly better compared to just a month ago. In this regard, he further emphasized:
“With the LTC halving not having “destroyed” LTC, I believe the concept that LTC is silver compared to Bitcoin’s Gold remains valid. However, LTC will rise faster than BTC while also dropping more sharply. This is solely because exchange order books are so thin. I believe that the significant drop in LTC value was primarily due to substantial LTC OGs liquidating the asset for more Bitcoin. Now the speculation is that most of the LTC OGs have already offloaded their holdings, so I anticipate some stability in LTC relative to BTC.”
Expanding on his thoughts regarding Litecoin’s future valuation, Xun mentioned:
“Regarding a specific USD price. If Bitcoin declines, LTC will likely fall even further. If Bitcoin dips below $6K, I expect to see new lows for LTC (potentially beneath $25, perhaps even in single-digit levels). If BTC increases, LTC will be buoyed by Bitcoin’s upward momentum.”
(xvi) Coindesk
The Coindesk research team published an article last year stating that it would not be unexpected for Litecoin to remain above the $240 mark by 2020. Nonetheless, the reality is that the top-10 altcoin is currently trading just under $60, making it highly unlikely for the cryptocurrency to surge beyond the $200 threshold in the near term.
Some Noteworthy Partnerships Worth Highlighting
Glory: Earlier this year, the Litecoin Foundation revealed its collaboration with the international kickboxing promotion company Glory. The organization is well-established and has hosted numerous major fighting events since 2012. Under the terms of the agreement, kickboxing fans will now have the option to purchase tickets using Glory’s online merchandise platform.
C&U Entertainment: As one of the leading K-Pop promotion agencies, C&U recently inked a deal with the Litecoin Foundation which will see LTC being promoted/advertised throughout the multinational’s ongoing tour program. Additionally, this agreement provides crypto aficionados with the chance to buy select tickets using their LTC assets.
Miami Dolphins: The NFL franchise has recently issued a declaration announcing its decision to permit Litecoin fans (attending ‘Hard Rock Stadium’ for the team’s upcoming matches) to acquire tickets for its 50/50 raffle using either Litecoin or Bitcoin.
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