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.
Now, one more thing 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 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 for the most part of 2019. 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 2020
Litecoin [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.
Captain Altcoin’s Litecoin Price Prediction 2020
LTC, 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.
With the latest development in the world and the impending worldwide economic crash, bitcoin failed to decouple itself from traditional markets and lost 40% in one day.
The rest of the market slumped in an even harsher fashion, losing 50%+ in one day. Since this is a black swan event, an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences, there is no one who can legitimately claim that he or his algorithm can predict short-term price developments for anything, let alone cryptocurrencies.
Many experts agree that it will get worse before it gets better, both in terms of human health and economic situation.
We can only speak in very general terms and make a forecast that cryptocurrencies will probably drop below even the 2018 lows (many of the altcoins will most probably dip to unprecedented depths and record new all time lows).
Once this tough situation passes, a crazy bull run is what we all hope for and probability for such development is pretty high.
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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Market and Experts Litecoin price predictions 2020
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 forecast
A 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 prediction
Here 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 prediction
CoinFan 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 forecast
Wallet 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.
As long as the project is listed on major exchanges, it will have some value. Most of it will come from pure speculation and remnants of its past strong brand and this can be strong enough of a market force to pull it back up again. However, all of this is short-to-mid term bound – Litecoin hasn’t found its unique angle and value proposition and once the market is mature enough to recognize this, LTC will lose all of its value in a slow, steady and, for its holders, painful process.
Very low probability for that. Litecoin’s all time high value was tick above $300 per coin and even that is out of reach for LTC in the foreseeable future because Litecoin has no competitive advantages over other coins with the same use case and has come this far solely as a bitcoin trailer.
For the reasons we listed above, no – Litecoin is not a good investment for the long term (but can lead to some nice gains thanks to its short-term speculative potential). In short – it offers no value over other payment coins; it has far weaker brand than Bitcoin to be store of value, it is too slow in comparison to Nano, XRP, XLM; it has no privacy in contrast to Monero, Dash or ZCash.
Yes, if the whole crypto market recovers. Which is likely to happen in the second part of 2020.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com