[Updated September 15, 2019] Litecoin’s evolution lately makes 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 by the end of 2019.
At $70, Litecoin price has slowly faded 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 July, 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 35x what Litecoin’s is. However, this is set to change as the crypto market has shown bullish signals.
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?
Litecoin is the 5th largest digital currency in the market with a market cap of over $4 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.
Let’s look at the reasons why experts believe LTC will surge.
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. Lee also stated that 2019 would be a good year for the cryptocurrency.
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.
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.
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 of a recovery are here.
First of all, Litecoin’s price has fourfold since its December 2018 price – a huge growth on 7 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 9 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 happened 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 since February. Now? The current volume is $2.2 Billion and it seems that the volume is growing. Sitting at a few hundred dollars above BCH – Litecoin’s small but slowly increase could turn out to be the start of a bullish year.
Litecoin Technical Analysis Price Prediction
Here is a short chart on the possible movement of the price of LTC over the next few days
According to the analyst, here are a few reasons for the open position:
– The Price is in a rising channel
– The key level is at $61.15
– The Price is likely not to break the key level hence its likely to descend to the lower part of the channel.
Here is another short prediction of the price of LTC
The analyst says that he likes the fact that LTC is possibly forming a new high and investors need to hold just a little bit longer and there is a good chance the coin is going to break out on the upside. An Ideal entry would be to avg in once we are holding over $70 so you are not buying something that is going down but rather that has a confirmation of support.
Currently, the price of LTC is in a downward channel, and the analyst believes if the price breaks the channel up then after a little pullback, we can open long with the Key level set at $64.5.
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.
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.
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.
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.