BTC
Bitcoin
ETH
Ethereum
BCH
Bitcoin Cash
USDT
Tether
XLM
Stellar
ADA
Cardano
LINK
Chainlink
XRP
XRP
LTC
Litecoin
CRO
Crypto.com
Litecoin Flappening LTC

Litecoin Price Prediction for 2022 – Expert Predictions And Technical Analysis

· in Analysis
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi
Register for UTB Token Exclusive Presale Access

(Updated May 21, 2022) A few years ago, we saw Litecoin go through halving where its block reward reduced from 25 LTC to 12.5 LTC. Before the highly anticipated event, the price of LTC managed to stage a rally of sorts as investors bought in since they expected the price to rise once the halving event took place.

However, the opposite happened. Litecoin managed to peak at around $140 in June 2019 and since then has been in a steady decline.

What is Litecoin?

Litecoin (LTC) is one of the largest cryptocurrencies in the world. It was launched back in 2011 and it was one of the first atcoins to be released to the market. It was created by Charlie Lee, an ex programmer at Google that wanted to offer a cheaper and faster way to send and receive virtual currencies.

Litecoin is considered to be the silver to Bitcoin’s gold. The main reason behind this nickname is related to the fact that LTC transfers are fast and cheap compared to those of BTC. Additionally, LTC is very similar to Bitcoin but easier to use. 

This virtual currency network works as a testing chain or Bitcoin. In the past, Litecoin has implemented several upgrades that later were tested on Bitcoin. In this way, it is possible for LTC to provide a better idea to Bitcoin developers which could be the effects of some of the implementations or improvements they are trying to work on. 

In the future, Litecoin could have privacy features. This could be achieved thanks to the implementation of MimbleWible. This could be released in the near future and transform Litecoin into the largest privacy-focused virtual currency in the world. We will talk more about this implementation in the next sections.

Finally, Litecoin has a large market penetration. It is accepted in most of the exchanges around the world, it can be traded against different virtual currencies and it is also accepted in thousands of shops and stores around the world. Indeed, Litecoin is the second-most popular digital asset in cryptocurrency ATMs around the world after Bitcoin.

More about Litecoin

But lately, LTC has been working on several initiatives that are bound to push its price higher in 2020. These include the introduction of confidential transactions that will help wear off the fungibility problem. It’s a move that will help LTC step out of the shadow of BTC by creating its own identity.

Also, recently the platform stepped into philanthropy, and by teaming up with UNICEF kid power, a program that shows children they have the potential to make a difference. We know it’s not price-related, but it’s positive for the image of LTC.

In this piece, we are going to review a few expert predictions, news events, and analysis of the charts to see why 2020 seems promising for LTC.

Want to buy Litecoin (LTC)? You can buy directly on Binance and save 20% on all trading fees using this exclusive UTB link!

Litecoin Price Prediction – What Experts Believe About the Litecoin Price? 

Litecoin is the 7th largest digital currency in the market with a market cap of over $4.9 billion. The coin was created in 2011 and was built on the same blockchain as BTC. Additionally, LTC can be used to make payments.

The biggest advantage of LTC over BTC is speed. It is referred to as “Lite” because it’s four times faster than BTC.

Crypto price prediction isn’t that easy, given the volatile nature of the market. However, this doesn’t stop people from trying to predict what the price will be using different metrics.

According to the technical analysis done by TradingBeasts, they see the coin in two or three years, as a good investment that will bear handsome returns.

Crypto prediction website Coin Price believes 2020 will be a bull market for all cryptocurrencies, and based on this, they see the price of LTC going to the $124 level.

The positive prediction is supported by DigitalCoinPrice, which sees LTC trading at around $106 by the end of this year.

Not everyone is very optimistic about the price of LTC as Wallet Investor sees a reverse in fortunes for LTC. They predict the coin would end the year at $22, which would mean a loss of more than 50% on its current price. But we believe this is highly unlikely given that Litecoin is working on several initiatives that are likely to boost its price.

George Tung, LTC prediction of $1500 by the end of the year was backed by John McAfee, who stated that the coin could rise just as much, if not more, than BTC.

After Charlie Lee, the CEO of Litecoin platform left LTC for Coinbase, then went back to LTC again, many believe that the digital currency’s price has a bright future.

Additionally, 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.

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.

Buy & Trade Litecoin (LTC) for yourself, it’s easy using Binance and you can even save 20% on all trading fees by signing up here. There is also another crypto exchange where LTC is tradeable and easy to buy, Kucoin. 

Litecoin Partnerships in 2020

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, it is 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 Technology

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.

A reason why Litecoin’s price increased in 2019 was because of Litecoin’s cooperation with Beam. As they stated in the article:

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 a useful cryptocurrency, combining Litecoin with mimblewimble’s privacy protocol could easily improve Litecoin’s value, adoption and usefulness. Litecoin is showing increased usage alongside with Ethereum that is experiencing the DeFi expansion. Just a few days ago, the Litecoin MimbleWimble implementation has been re-launched in order for new users to test the platform.

Buy Litecoin on Binance today!

Confidential Transactions and Fungibility On Litecoin

Litecoin is also going to be introducing Confidential Transactions during this year. At least this is what the team behind Litecoin wants to do. With this implementation, the Litecoin community will have the possibility to protect its privacy and have a fungible digital asset to make transactions. 

The announcement was made by Charlie Lee, the Founder of Litecoin, earlier this year on Twitter. He said that fungibility is the only property of sound money that is missing from Bitcoin and Litecoin. 

https://twitter.com/SatoshiLite/status/1089935081337085952?s=20

It is possible to exchange fiat currencies with different individuals without having to be worried about whether the funds will be accepted or not. However, this is something that is currently not possible in different digital assets because all the transactions are registered on the blockchain. If there are digital assets that were used by money launderers or drug dealers, these would not be accepted by many exchanges and other users. 

When the announcement was made official by Charlie Lee, a few days after, Litecoin skyrocketed from $32 to $45 in just a few hours. Since then, the virtual currency surged to $140 before declining again.

Litecoin price has many times behaved strangely. Indeed, it has broken all analysts’ price predictions and moved higher. Thus, we can expect this as well for LTC in the future once fungibility is deployed.

It is worth mentioning that Charlie Lee, the creator of Litecoin is also now an advisor of HTC Exodus. This could be very bullish for the virtual currency and its involvement in highly visible projects.  In addition to it, Litecoin is now hosting one of the best role-play blockchain games on its blockchain.

Litecoin Price Between 2019 and 2022

Unfortunately for a large number of investors, Litecoin has lost its position as one of the top 10 cryptocurrencies in the market. Indeed, Litecoin is now outside the top 20. This happened due to a large number of reasons, including due to the fact that Litecoin was not able to offer new solutions and services to individuals in recent years. 

It is also worth mentioning that Litecoin could not yet release a version of Confidential Transactions, even when it was announced several years ago and the community donated thousands of dollars to make it happen. 

If we analyse Litecoin price over the last years, we see that Litecoin was in an accumulation period throughout 2019 and started a bull trend at the end of 2020. This bull trend was of course related to Bitcoin that reached new highs in 2021 and pushed the entire crypto market to make large gains the year after COVID-19 started. 

Litecoin was able to surpass its all-time high by hitting $385 per coin (in some exchanges the price was higher for this virtual currency. However, it fastly came down to $130 and it was traded between this level and $200. During short periods of time, Litecoin left this trading range. 

However, when it comes to Litecoin’s price against Bitcoin, we see that the virtual currency has been in a bear trend since 2017 with a short break in mid-2019 (exactly before the halving event on the Litecoin network). Hence from 2019 and until now, Litecoin has never been cheaper in BTC terms. At the moment LTC has a price of 0.00313 BTC per coin. 

It will be very important to follow what could happen with Litecoin in the coming years as this virtual currency could definitely move higher or become one of the many digital currencies that simply disappear among other digital assets. This happened, for example, to Vertcoin (VTC) or Namecoin (NMC). 

However, there is also a big possibility for Litecoin to also move higher and break a multi-year bear trend against Bitcoin. Let’s not forget that Liteocin is expected to halve again in a year and a half from now. This could push Litecoin’s price higher and create a new bull run for this virtual currency as it happened in 2019.

Litecoin Price Prediction

Litecoin (LTC) Price Prediction TradingView Analysis Updated May 21, 2022

 

LTC/USDT 3D DAY UPDATE by CRYPTOMOJO_TA on TradingView.com

Litecoin is currently being traded in a falling wedge shown by the analyst and that has been in place since mid-2021. There has been a moment in recent days in which Litecoin broke down before bouncing inside the wedge. This comes after a few weeks in which volatility has been growing in the cryptocurrency market for Litecoin and for other virtual currencies. 

The situation that took place with LUNA in recent weeks has pushed Bitcoin (BTC) and Litecoin (LTC), and other digital currencies, lower. Therefore, this analyst now sees that there could be a possibility for Litecoin to recover this year and get closer to 210 USDT per coin. However, this would only happen if the market turns bullish. 

This expert explains that the stop-loss is at 55 USDT in order to avoid possible losses if LTC starts moving lower.

#LTC/USDT 1HOUR UPDATE BY SANDERS! by CryptoSanders9563 on TradingView.com

This analyst shows that there is an ascending triangle in which Litecoin has been traded since the last days of April. We see that virtual currency has been moving higher despite the recent price drop experienced by Bitcoin (BTC) below $38,000. 

The analyst shows that Litecoin is currently at a very important support level that should help LTC stay above 100 USDT in the coming hours and days. Furthermore, this expert believes that Litecoin could continue to move higher. Litecoin could break upwards and leave the triangle. The target that the analyst shows in the chart are currently 105 USDT. This could only happen if the entire market moves higher in the coming days. 

It would be difficult for LTC to decouple from other digital currencies. Indeed, Litecoin has been usually traded with the market rather than decoupling from it. Therefore, it is highly important to follow the entire crypto market.

Litecoin Move Imminent… by Pulkanatir on TradingView.com

This analyst shows that Litecoin has been rejected from a downtrend that started many weeks ago. The coin has moved from 115 USDT per coin to 105 USDT at the time of writing. The analyst says that the support/resistance line has been key in the past and it is now acting as resistance again. The trendline worked as resistance at the end of 2021, in early 2022 and in February 2022 again. 

Now, we are seeing the coin moving downwards and it could move towards 100 USDT, where there is also a very important support level for Litecoin. This would be key in the future as it would give us a clear idea of what could happen with Litecoin in the coming days. Another thing that we should take into consideration is that the RSI is also ramping up hitting a breakout.

Litecoin LTCUSDT – Massive falling wedge+ Bull pennant breakout! by Tolberti on TradingView.com

For the LTC/USDT trading pair, this analyst shows that there could be a possibility for the coin to move higher in the near future and hit previous resistance levels. As the expert says, Litecoin is currently breaking out of the bullish blue pennant on the daily chart, which could be a bullish sign for this virtual currency. Moreover, he wrote in the analysis that the retest is done and we can continue to the upside in the near future. 

Another thing that the analyst said is that there is a huge falling wedge on the weekly timeframe and bulls have to confirm their bias. If Litecoin is able to break this falling wedge in the near future, then we could see the price of the virtual currency hitting a price per coin of 411 USDT in the future. This will be highly important to follow and see what happens to LTC.

LTCUSDT – 8H by peymandolatkhah on TradingView.com

This expert shows that there is a possibility for Litecoin to start moving higher in the near future. LTC has bounced from a long-term trendline that was already tested in the past in 2019, 2020 and 2021. Now in 2022, this trendline has been tested once again. This could push Litecoin towards 191.20 USDT and then towards 268 USDT per coin. The final target shown by the analyst is currently at 454 USDT per coin. 

Now, it might also be possible for Litecoin to start moving lower in the near future, especially if the market turns bearish. The coin could then hit 101 USDT per coin and eventually continue with its move downwards and hit 84 USDT, 80 USDT and 62.5 USDT. It would be very important to follow how Bitcoin behaves in the coming weeks and how it leads in the market.

Buy LTC on Binance & save 20% on lifetime trading fees using this exclusive link!

Frequently Asked Questions (FAQ)

Who Created Litecoin?

Former Google engineer Charlie Lee created Litecoin. However, he sold and donated all his holding in 2017 to avoid conflict of interest as he led the platform.  

When Was Litecoin Launched?

Litecoin was launched in October 2011 under the MIT/X11 license serving as an early Bitcoin spinoff. However, it decreased the block generation time to 2.5 minutes and increased the number of coins on the network to 84,000,000. It also uses a different hashing algorithm know as scrypt, whereas Bitcoin uses SHA-256.

Is Litecoin Decentralized?

Just like Bitcoin, Litecoin is fully decentralized with no single point of authority.

Is Litecoin Proof of Stake? 

Litecoin uses Scrypt, a proof of work algorithm. 

Is Litecoin a Good Investment?

We believe LTC is still a good investment, and in the short term, we don’t see the token losing its value. We can expect to see its price rise with time as cryptocurrencies gain popularity among masses. 

Will Litecoin go up? 

Our analysis shows that the price of LTC will go up soon based on technical fundamentals and the many positive developments going around the Litecoin platform.

Where to buy Litecoin?

Buy Litecoin using a credit card or debit card on Coinbase, BitPanda, Coinmama, and CEX.io. You can also buy LTC using a bank account or bank transfer on Coinbase, BitPanda, and CEX.io. 

On Coinbase, Americans can use ACH transfer with 5-7 days wait while Europeans can use SEPA with 1-3 days wait.

There is no easy way to buy LTC using cash or PayPal, and one has first to buy a currency like Bitcoin and then exchange it for Litecoin. This can be done on Binance, Changelly, Poloniex, and many more.

Also, you can buy LTC using Skrill as BitPanda accepts Skrill payments.

It’s important to note that fees vary depending on the option you choose, so you might want to check that before you embark on buying Litecoin. Also, most importantly, have a wallet where you can store your coins after purchasing them since it’s not advisable to store coins on exchanges. Some of the best available wallets include Ledger Nano S and Trezor.

Is Litecoin Dead?

No, Litecoin is very alive and kicking. As we have seen in this article, the project is busy signing new partnerships and working on further improvements. However, there are many projects that have been stopped in recent years. Litecoin should focus on new developments and solutions if it wants to remain an active project.

Is Litecoin Better Than Bitcoin? 

Litecoin is known as the silver with Bitcoin being the Gold due to the many similarities and the fact that it’s a fork of Bitcoin. What Litecoin improved was the transaction time reducing it from ten minutes to around two and a half minutes.

Will Litecoin fail? 

Litecoin has been around for a long time being one of the earliest cryptocurrencies, and over time has managed to maintain its status as one of the top ten cryptocurrencies by market cap. Given that its founder and the Litecoin Foundation is always hard at work to maintain the network and improve it, the likely hood of Litecoin failing is highly improbable.