Litecoin (LTC) Price Prediction 2020
July 05, 2020
What is Litecoin (LTC)?
Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. He wanted to create the coin, which will be cheaper than Bitcoin. Litecoin was released on October 7, 2011. This cryptocurrency is the fork of the Bitcoin. So, it has some similar features.
Litecoin is an improved version of Bitcoin with lesser brand awareness.
Litecoin is one of the most traded cryptocurrencies in the world market, being in existence for seven years since 2011. Litecoin is more accessible to the people than Bitcoin, hence known as “silver” of the crypto world and Bitcoin referred to as “gold” of the crypto world.
Litecoin (LTC) Price Chart
Litecoin (LTC) Price Analysis
Litecoin prices are falling and now the LTC current price is around 58 USD. It is worth noting that in the middle of a 2019 Litecoin price was about $141. It follows that the Litecoin price lost around 60% of the maximum price for now.
Market Prediction for Litecoin (LTC) Price 2020
Predicting cryptocurrencies is one of the most difficult and popular tasks. Authoritative analysts trying to make some predictions? in this regard. There are some opinions:
TradingBeasts LTC Price Prediction
This crypto prediction portal doesn’t see LTC as a good asset for 2020. It believes that Litecoin will decrease to $47 mark.
LongForecast LTC Price Prediction
Experts from LongForecast believe that Litecoin will be falling to 55$ by the end of 2020.
CoinPrice LTC Price Prediction
According to their analysis, LTC will grow in price and will achieve great results. The Litecoin might reach a $124 mark by 2020.
ORACLETIMES LTC Price Prediction
This famous crypto prediction portal expects the LTC price will rise to $1000 during the next year. This prediction based on the last years’ Litecoin performance, when this cryptocurrency had better financial performance than Bitcoin.
DigitalCoinPrice LTC Price Prediction
This firm believes that by the end of the next year the LTC currency will trade on a $106 mark.
Litecoin Price Prediction 2020
This cryptocurrency went through the rise from December 2017 till January 2018. Moreover, it was a painful fall in the Summer of 2018. Nevertheless, unlike most other altos, the current Litecoin exchange rate looks significantly underestimated. This cryptocurrency has a ratio that is significantly higher than its main competitors. It indicates a high level of coin acceptance.
Litecoin will continue to conquer the market due to the technological superiority over Bitcoin. BTC is not as a global payment network nowadays, while the LTC is ready to share this network load. Thanks to the Lightning Network, Litecoin can replace Bitcoin in many transactions.
According to the last forecasts, the LTC price may become double and reach $80 by 2020. Some stock traders are confident that Litecoin will grow to reach $234 in mid-2020.
Besides, there is the Wallet Investor Prediction. Its projections look very stereotyped — from the growth by the 2020 beginning, following the falling in the mid-2020, to the new growth in the last months. Recent historical patterns are taken as a basis. Nevertheless, the Wallet Investor Prediction believes that the coin will overcome the $300 mark in 2020. Peak values may be higher. The WI computer also talks about this, although there is likely to be a usual coincidence.
Litecoin Price Forecast
The forecast for Litecoin price depends on some important trading developments. February 2019 was marked by an SEC endorsement decision on the Bitcoin ETF. Also, this winter there was many significant events on the adoption of the crypto from the leading world democracies governments. The expansion of institutional investors in the market will begin. CBOE Litecoin futures are a matter of time.
Litecoin Price Prediction Verdict
Litecoin is one of the most undervalued cryptocurrencies. It is not someones’ invention. Earlier some researchers at the Etoro investment company already expressed a similar position. LTC transactions are fast and cheap, but this did not stop the coin from falling along with other cryptocurrencies. This is an unfair state of things. However, it opens up a good runway for future acceleration and upward price flight. Such oversold during a trend reversal will save the Litecoin from near resistance.
Let us look at the balance of positive and negative factors that Litecoin price expects in 2020.
- Litecoin futures;
- general trend reversal;
- halving (block reward reduction by 2 times);
- popularization of blockchain technology and crypto payments;
- institutional investors’ entry into the market.
- the slowdown in LTC blockchain technology;
- market competition;
- the fight against speculation, which will lead to more measured market development.
In many ways, growth factors will exclude falling factors and vice versa. It is interesting that the institutional intervention simultaneously spurs the market to conquer new heights and limits its flexibility. It is rather good than bad. The market will develop in an upward direction, preventing unnatural pumping. On the other hand, we do not believe that it may lose speculation. The manipulation is where trade is.
Litecoin News: ‘Digital Silver’ is stronger than BTC
According to Keith Wareing from Cointelegraph, there are reasons to focus on LTC. The last analysis shows stronger positioning on Litecoin.
At the time of writing the ticker price is $57. Moreover, Litecoin would represent a growth of 42%, which looks ripe to rise to $82.
Besides, Litecoin’s weekly RSI is around 38.96. Typically, traders would be looking for a reading below the mark of 30, but it is a much better signal than BTC’s current positioning in the high 50’s.
Therefore, LTC has greater potential than BTC for the week ahead.
Is there is a consensus about ticker price?
There is no general agreement about coin price prediction. Some experts are skeptical about the first LTC generation of coins, which is not focused on specific tasks. These stock traders consider them a relic of the past without any market prospects. They predict early positions weakening of these assets. In the future, it will lead to a gradual decrease in demand. Skeptics believe that everything will be relatively stable for the first couple of years, but it will not work for a longer period.
In contrast to skeptics, more optimistic analysts voiced an alternative scenario. They believe that soon Bitcoin will be strengthened as a payment unit and investment asset. It will entail a rise in LTC price. The impetus for this trend will be the partnership agreements with many companies, retailers, various online services, etc. The wider will the LTC spread in the consumer sector, the more likely it will be to increase its value.
How To Choose Litecoin Wallet
Your passkeys remain encrypted in your smartphone. You can be sure that money yours only. Moreover, you can easily and quickly manage all of your crypto assets. Secure, manage and exchange tokens in one place!
How To Buy Litecoin (LTC)
You can buy LTC with a credit card in Atomic Wallet. It is the fastest and legal way to buy Litecoin with VISA or Mastercard. You’ll get LTC approximately in 30 minutes. The whole process depends on the KYC procedure that is required. Although, usually, it doesn’t take a lot of time to proceed with the transaction.
How To Exchange Litecoin (LTC)
Whatever you choose, whether it is buying LTC or selling LTC, you can do that in the Atomic Wallet interface. Atomic is a universal non-custodial wallet for 300+ cryptocurrency assets with a built-in exchange service. Instant exchange over 60 trading pairs with the market rate.
Within our service, you can exchange one token to another. It’s easy, fast and safe. You don’t need to leave the wallet.
Moreover, we teamed up with two crypto exchange services — Changelly and ChangeNow. Both of them operate only with crypto-to-crypto exchanges. They offer to exchange tokens using 2 mechanisms: the floating rate and the fixed rate. Every time you get into trouble, the customer support will help you 24/7.
These services don’t hold tokens. They just send funds to a user crypto wallet.