[June 10th, 2019] Litecoin’s evolution lately make us believe a potential bull run will come. In our Litecoin price prediction for 2019, we’ll present why we believe LTC’s price will be above $200 in 2019.
At $56.97, Litecoin price is more than slowly fading away from its glory. Investors seem to be shying away from what was once considered the “silver” to Bitcoin’s “new gold”. However, there does seem to be potential for Litecoin price to recover.
Of course, Litecoin’s price, and the ability for Charlie Lee and company to help the coin revisit the kind of price it recorded during its peak days depends on the entire market recovering. However, there is little doubt that Litecoin cannot break away from both Bitcoin and the market at large. Its price is dependent on it.
As such, we can predict price in relative terms to the market. For instance, as of mid-October, Litecoin is sitting at less than 1/100th of the price of Bitcoin. Though LTC has 4 times as many coins as BTC, so a ratio is more appropriate looking at “market cap”. Bitcoin’s market cap is now 36x what Litecoin’s is. This will likely not change much in 2018, as any market movement starts and ends with Bitcoin.
Still, there is an opportunity within that number. Litecoin can start to create momentum on the adoption front before Bitcoin (or Bitcoin Cash). If, and as, it starts to be accepted by commercial enterprises, demand for LTC could grow, pushing Litecoin price back toward the $70 mark and eventually up to $100 again.
Below, we’ll share three reasons why Litecoin could be on its way up in the coming months. Also, we will share some technical analysis supporting a price increase of that magnitude.
Bullish Litecoin Price Prediction – What Experts Believe About the Litecoin Price?
Technical analysis has captured several opportunities wherein Litecoin price could be among the top gainers by the end of 2019. Other charts show LTC price gains expected to spread over to 2020 and beyond.
Oracle Times analysis on Litecoin shows that LTC could have a value of $1000 by the end of 2019. Quite bullish – if you ask us. Their opinion is based on investing experts which believe that Litecoin could have a value of $1000 or $2000 in the future. $1000 or $2000 seems a bit too much without an increased adoption and some great news, so we believe that this price prediction is unreachable for 2019 – but could definitely turn out to be true in the future three to five years.
Geroge Tung, a write for International Business Times, wrote an article a long time ago about Litecoin’s future price. He claimed that a $1,500 price was possible for Litecoin. And yes, it is. But it will take some more time. Two partnerships that doesn’t increase the real adoption of Litecoin cannot influence the price so much.
Profit Confidential & Kelly
A while ago, there was a litecoin price prediction that caught our eyes. The price prediction was from Kelly, a manager of BK Capital Management LLC, which claimed Litecoin could hit $500. The price prediction was posted in 2017 in December, but we’re still on track to reach that amount. However, we need to do it step by step with a steady growth. This is a good litecoin price prediction for 2025, but not for this year.
Some of the leading platforms that concentrate on price predictions based on technical analysis, like Walletinvestor.com, have taken the price of Litecoin on a one-year road test. The findings? In one year, Litecoin will be trading at around $400. Also, their five-year forecast puts the price of Litecoin just above $1000. Quite bullish, of course, but interesting.
Also, Monte Carlo, a type of technical analysis, has recorded that Litecoin will be worth slightly more than $507 by the end of November this year. Its another positive litecoin price prediction. We’re not 100% sure if the price will reach $200 or even $500 – but everything’s possible in crypto.
Finder’s technical analysis on litecoin surprised us because they recently predicted a price of $40 per LTC – when the cryptocurrency was around $32. And they’re more than right even now, as the price broke even the $55 mark.
While these are on the extreme side, there is evidence in the charts of Litecoin support below where it’s at now and room to rise, especially if the macro market can help push Litecoin price upward.
Litecoin Price Prediction in 2019
We did a bit of analysis ourselves and we saw that Litecoin can easily increase to $200 or more in 2019. Litecoin’s evolution in 2019 was strong and show a few signs of a recovery after the massive drop. Litecoin dropped from $330+ in December 2017 to $24 in December 2018. But now, the signs or a recovery are here.
First of all, Litecoin’s price is almost double since its December 2018 price – a slow growth on a 3 months period. With its February rally, Litecoin took back the #4 spot on CoinMarketCap. Litecoin passed EOS and Bitcoin Cash and sits way behind Ripple (XRP) right now. But the situation could change in the future.
Our Litecoin price prediction is based on the positive moment that the market has received lately but also on the fact that Litecoin’s halving is coming this August. According to LitecoinBlockHalf, there are 151 days until the halving. The halving will reduce the amount of Litecoin mined per block, reducing inflation. Right now, there’s a 9% inflation for Litecoin per year. The halving is supposed to reduce this amount to 4.26%. This means that the current 14,400 Litecoins mined per day will reduce to 7,700 per day. And usually halvings have a massive impact over the price.
How hard could the halving affect the price? Let’s take a look at what happen in 2015 – at the last Litecoin halving:
This is what happen before the August 2015 Litecoin halving. A massive increase in price as less and less Litecoin would have been available daily. This makes us believe that in August or prior to that, Litecoin’s price will increase massively. At the time of the halving, litecoin’s top value was $7.76. Two months prior to the halving the price was only $1.45. This is an important factor in our Litecoin price prediction.
Including the fact that Litecoin made a cooperation with Beam to work on a mimblewimble protocol for Litecoin – this could increase Litecoin’s usefulness worlwide. Mimblewimble is a protocol made for privacy – one of the things that matters and one of the things that Satoshi cared about. If Bitcoin’s little brother could adopt a privacy protocol – we could also see a movement in the price as it would probably be among the fastest privacy cryptocurrencies worldwide – and one of the most used ones.
Another thing that matters in our litecoin price prediction is the volume per day. Litecoin’s volume doubled over the last month. In February, we could see $1.2 – $1.4 billions of dollars transacted daily trough Litecoin’s blockchain. Now? The current volume is $2.2 Billion and it seems that the volume is growing.
Litecoin managed to have a bigger marketcap right now than BCH & BSV combined. This is another bullish thing for Litecoin as its slowly advancing to the #3 spot on CMC. Sitting at a few hundred dollars above EOS – Litecoin’s small but slowly increase could turn out to be the start of a bullish year.
Litecoin Technical Analysis Price Prediction – June 2019
IgorPorokh believes that Litecoin is on a continuous rally. Price rallied with 3.8 %, 46.3%, 31.15% and 22% in January, February, March and April. Therefore, an increase in price before the August halving is almost imminent as more and more traders started accumulating the cryptocurrency. An argument that confirms this is the fact that on August 25, 2016 – litecoin had 7 months of growth before its reward halving.
Litecoin is getting close to the golden ratio of growth. A trader on TradingView called EuroMotif noticed this a while ago. He actually saw that each time that Litecoin grow since the December last year value was a 1.618 times compared to the previous one. With this being said, the graph looks amazing for another comeback for Litecoin.
Another trader that has a plan to profit from Litecoin’s growth or increase is Sherem. He explains it perfectly. If you’re a long time hodler, put down a sell order a bit below $150. If that price will be reached, its definitely a good trade and you can purchase in the future cheaper. If not, put a buy order around $63 area and hodl it until it pass the $100 price. The technical analysis for litecoin shows a few signs that the price will definitely go up in the future – as long as the $60 region is maintained. In case of a massive Bitcoin drop and a decline under $60 in price, there will be a need for another one.
But the overall sentiment is bullish and the weekly MACD for LTC looks good. All that it needs from now is a bit of upwards movement.
Another used called HenryChinaskilTA believe that Litecoin will have a retrace to $63 and then it will continue its bullish course for 2019. The massive support for Litecoin is at $65 and a drop below could lead to the retrace that Henry mentioned. However, the course explained by him would probably take a month more – as the halving is expected in August 2019. Let’s take a look at his graph & projection for the litecoin price in 2019:
Litecoin Partnerships in 2019
In a bid to boost the adoption of Litecoin as a payment method around the world, the fifth largest cryptocurrency has partnered with two influential organizations. The partnerships were announced on February 27 within 24 hours leading to excitement within the LTC community. The first partnership was with Glory, an international kickboxing promotion company which was founded in 2012. While this may not affect our litecoin price prediction too much, its nice to see that LTC is gaining more and more visibility.
The collaboration will see Litecoin become the first official cryptocurrency of the premier stand-up combat league. According to the agreement, fans of Glory kickboxing will now have access to Litecoin as a payment option on the company’s online merchandising platform GLORYshop.com
The other partnership was with C&U Entertainment a K-Pop production company. The collaboration will see LTC promoted in the upcoming “Feel the K-Pop Concert” which is scheduled to take place on April 6 at the George Manson University.
According to the announcement, there will be ULTRA VIP tickets that will be purchased in LTC. The tickets will offer the best seating and experience. The Litecoin Foundation will also have a team on site that will be educating concertgoers on the power of LTC.
Both partnerships are enormous and are set to influence the price of LTC positively over the next few months.
Litecoin is designed to solve problems that hinder the Bitcoin Network. Therefore, it’s made to not inherit the scalability issues of Bitcoin. Litecoin is said to be four times faster than Bitcoin during transactions based on block design.
Such qualities make it the envy of merchants who are keen on adding a crypto payment option for their customers. Eventually, this advantage will lead to massive adoption that will push the price of Litecoin even higher.
Being an open-source project, Litecoin has enough room to introduce fresh ideas into the platform allowing it to occupy a higher position as the coin of choice.
Litecoin uses an improved Proof-of-Work (PoW) algorithm which in turn simplifies the mining operation.
Additionally, its technology has also seen Litecoin charge meager transaction fees compared to its rival, bitcoin. It endears Litecoin to more people looking to save on transaction fees.
We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.
Litecoin is already an useful cryptocurrency, combining Litecoin with mimblewimble’s privacy protocol could easily improve Litecoin’s value, adoption and usefulness.
Conclusion About Litecoin’s Price Prediction
Litecoin has a long way to go and the analysis here is only with positive momentum infused through the investors and trading channels interested in Litecoin. The sentiment is bullish and we could soon expect an increase above $100 fueled by the halving. Its not clear if Litecoin’s going to touch its target this year, but the current evolution for 2019 is a great one and we could probably agree that the price predictions made in the article are not impossible. Even more, the target price could be touched even before 2019 – but its depending a lot on the market and the evolution of Bitcoin.