In 2018, the cryptocurrency market has kept growing quickly as it did over the last year. A number of experts are in place and still too many unanswered questions exist.
Are you not sure whether it is right time to invest in Litecoin? Could not predict where the prices headed?
We have good news for you: We will answer all your questions here. We will address the essentials of Litecoin and share our most popular Litecoin predictions with you. Although it is not easy to anticipate the future of Litecoin, we are here to help you make informed decisions.
As the 5th largest cryptocurrency, Litecoin’s market cap is over $12 billion for now. Why is Litecoin so popular?
Litecoin was launched by Charlie Lee, an ex-Google employee. Litecoin is a digital currency like Bitcoin. It is used on the same blockchain and is available for making payments. Litecoin is advantageous than Bitcoin in terms of its speed. Why Litecoin is called “Lite” coin is its speed which is almost four times higher than Bitcoin.
Do you know how long you will wait if you try to pay for your drink with Bitcoin? Just about 10 minutes! The confirmation of a Bitcoin transaction takes at least 10 minutes.
If you try to pay with Litecoin instead, you will be suprised! Litecoin transactions takes only 2.5 minutes to be confirmed. In just 2.5 minutes, you are going to have your drink.
Before getting our prediction for Litecoin price, we would like to explain the differences between Bitcoin and Litecoin.
Litecoin is somehow analogous with Bitcoin. It is structured on the same code as Bitcoin. It is similar to update the operating system on your smartphone. These updates are intended for addressing some issues on your smartphone, and so, Litecoin targets the problems experienced with Bitcoin.
As you saw in the drink example, the technology of Litecoin allows processing transactions faster when comparing to Bitcoin.
Another essential difference is the total number of existing coins. The supply of cryptocurrency coins is limited as the world’s gold source. 21 million Bitcoins can be created at most. This value is 85 million for Litecoins.
When you pay with cryptocurrencies, you have to pay a transaction fee. Bitcoin’s transaction fees are higher when comparing to Litecoin. So to say, Litecoin allows faster and cheaper payments.
Think about our regular currency. When in need of supplying currencies, federal banks can print new notes. As the governments cannot “print” more coins, this is not valid for cryptocurrencies.
Are you aware of that new coins are to be “mined” for using? Similar to gold!
People discover new Litecoin, Bitcoin, and other coins with their computers, which is called mining. But these computers are not regular computers that you can find in stores, they have super special and powerful features to mine Bitcoin (or other cryptocurrencies).
On the other hand, with a few graphical processing units (GPU), you could mine line coin with your computer as well. You might want to mine Litecoin if you need to have it without buying.
Therefore, Litecoin is available to more people than Bitcoin. That is why Bitcoin is the gold of cryptocurrency market and Litecoin is the silver.
The technology of these two coins differs as such, substantially affecting their prices. As you know now how Litecoin’s technology differs from Bitcoin, you will more easily understand our Litecoin projections.
Litecoin Trends by History
In the last 12 months, one of the highest-volume cryptocurrencies has been Litecoin. At the very beginning of 2017, Litecoin was at $4.5, and if you bought Litecoin there, you would get a benefit of around 8000% by the end of the year! This is almost 80 times higher than your investment.
If you bought Litecoin with your $500 in January 2017, at its highest point in December 2017, you would make a gain of almost $45,000.
Below is indicated Litecoin’s price trend by history. It is evident that Litecoin has drastically grown in the last year, so it is one of the top ten crytocurrencies by growth percentage. Litecoin price table
We need you to know before presenting our Litecoin projections that Litecoin’s trading volume is high. Namely the number of people selling and buying Litecoin in the cryptocurrency market increases. Just after Ethereum, Litecoin’s trading volume is the fourth largest.
Predictions for Litecoin Price
The cryptocurrency market moves evidently very fast, so the investors have hard times when choosing the best investment options.
As it is, you have to do your homework if you want to understand the current trends in the market. As a matter of fact, before making any substantial investments, sure you have to consult a financial expert.
To comprehend the market better, you can use the top Litecoin predictions below as your starting point for your researches.
Technical Analysis for Predictions for Litecoin Price
To clearly comprehend the essentials of this prediction, you must first understand technical analysis.
The past and current price trends as well as trading volume trends are addressed in the technical analysis. Topics like the infrastructure of a specific cryptocurrency technology are not considered.
Technical analysts use the data for getting price predictions with mathematical functions. Fortunately there are a number of analysts running and sharing the analysis on the internet, so we do not need to think of the mathematical part.
According to walletinvestor.com, a technical analysis website, 1-year Litecoin price prediction is about $414. In the long haul, they think that Litecoin might be a good option with a 5-year Litecoin forecast of around $1175.
Their technical analysis indicates that if you are investing today, in 5 years, you will get about 425% benefit.
Another website, offering technical analysis, suggests that when Litecoin reaches $220, it will be headed upwards from this point. In the short haul, their Litecoin price prediction is $300.
Also “Monte Carlo” analysis has been conducted for Litecoin. Until November 2018, Litecoin’s price range is predicted as $6 to $507.
It is evident that this is a large price range for a prediction! Is it?
This analysis shows us that Litecoin’s price may hugely change in this year like all cryptocurrencies. Also we might think that this price will not exceed $507 during the year. This means the analysis is somehow useful.
Prediction for Litecoin Prices against Bitcoin
According to a number of predictions, Litecoin will grow more than Bitcoin. It is not possible to know what will happen, however these predictions have some reasonable grounds.
In the last year, Litecoin has grown more than Bitcoin.
Litecoin’s technology is a better version of Bitcoin (note that it is faster for 4 times!)
Currently, the recovery of Litecoin is head and shoulders above than Bitcoin.
Oracletime.com indicates that many new investors will be affected by the advantages of Litecoin. For the end of 2018, their prediction for Litecoin price is $1000, on the other hand, some predictions suggest that it may reach around $2000!
Investingpr.com has another projection, expecting Litecoin’s price to rise up to $1000. They think that investors will tend to invest in Litecoin when they seek for options, comparing to Bitcoin, and look for a lower risk profile.
Remember the analogy of gold and silver for Bitcoin and Litecoin, respectively. In real life, what is gold intended to? Keep it. Bitcoin is well for keeping values and Litecoin is better for transactions.
Although Litecoin has advantages over Bitcoin, mining- and cost-relating issues may compromise the situation to a degree.
After all, if you are interested to invest in Litecoin upon these projections, we highly recommend you to address other factors as well before deciding.
Litecoin Predictions by Experts such as John McAfee
Do you know who is John McAfee? You should know the name if you have a little tendency towards investing in cryptocurrencies. John McAfee is special crypto investor, actively promoting cryptocurrencies. His price projections can really affect the prices of all cryptocurrencies.
Then what does he think about the future of Litecoin.
John McAfee treats Litecoin as underrated. He believes that Litecoin can exceed the value of Bitcoin. If he is right abot Bitcoin, then how to say John McAfee’s Litecoin prediction is incorrect.
Another cryptocurrency analyst, George Tung, has his own saying on Litecoin price prediction. He suggested that in 2018, the value of Litecoin will reach up to $1500. There a number of experts and analysts believing the price of Litecoin will keep rising in 2018.
Until when? We cannot know it for now. However, now you are aware of what the experts do think of.
Also, the return of the founder of Litecoin, Charlie Lee, is one of the reasons why people believe that Litecoin will have a good performance. After leaving Litecoin, he joined Coinbase, but he cam back to Litecoin team as an active member.
Charlie Lee expects a good year for Litecoin considering 2018. On the other hand, he has not presented a cryptocurrency price projection.
What Does Wall Street Perspective Think for the Future of Litecoin
Wall Street traders and investors are also gradually interested in cryptocurrencies. Similar to us, they also think that cryptocurrencies may be beneficial.
Considering investing stocks and other assets, Wall Street is highly experienced. So to say, they should know what is and what isn’t a good investment.
A Wall Street trader, the head of BK Capital Management (LLC), Kelly, monitors the cryptocurrency market. This company focuses to invest in cryptocurrencies. Kelly’s Litecoin price prediction is $500 for 2018, and this might be taken into account.
Kelly is lean towards Litecoin as it is advantageous over Bitcoin. Allowing faster transactions and low fees, Litecoin is an attracting investment option for almost everyone.
Just think of Litecoin as iPhone X and Bitcoin as iPhone 8. The case differs only in terms of iPhone X being cheaper.
Litecoin Price Prediction 2020
If you are in-between long-term investmens in Litecoin, then you should take a look at Litecoin price predictions for 2020.
Longforecast.com is a website specialized in long-term financial predictions with technical analysis. Longforecast.com’s forecast for Litecoin’s price is in the range of $780 to $1374.
Another website, oracletimes.com, expects the Litecoin price to be $1000 by 2020.
The projection takes Litecoin’s 2017 performance, which exceeded Bitcoin’s 2017 performance. On the other hand, it does not rely on technical analysis or expert opinions. So, you probably need to focus more on other projections as well.
Another website, steemit.com, has another prediction for 2020. Below are the reasons for their Litecoin price prediction by 2020 being $3500:
- Litecoin’s extraordinary growth in 2017.
- Its technology which is better than Bitcoin
- Cryptocurrency market’s overall growth
- Other Factors Possibly Affecting the Future of Litecoin
- You might want to consider other factors possibly affecting Litecoin’s future.
Please note that the potential changes in Litecoin’s technology may be of importance. You know the situation called a “Hard Fork” in regard to bitcoin. Let’s take a look at this hard fork.
In layman’s terms, it halves the cryptocurrency in two. Litecoin, in this case, is one part of the split as the older version. And the other part, Litecoin Cash, is a new cryptocurrency. Litecoin Cash has evident advantages over Litecoin but this is not going to be addressed here.
What happened after the split? All of us expected something explicit but nothing has happened. Frankly speaking, following the hard fork, Litecoin has performed well but Litecoin Cash has somehow failed.
Also, Coindesk has its own Litecoin price prediction. They suggest that Litecoin standing above $240 for a short period of time may result in reaching $300 mark very soon. Coindesk think that Litecoin could benefit from the return of Charlie Lee and the new features launched.
Is a football game possible when there is no referee? Impossible? The cryptocurrency market works without any regulations in place.
This is expected to change soon. The world’s regulators are highly interested in cryptocurrencies. It is not possible to estimate how the regulations will affect the future of Litecoin or other cryptocurrencies.
But we know that these could generally slow the market. This might similarly affect the Litecoin prediction. In order to keep your investments safe from any harm, we highly recommend you to look new cryptocurrency regulations at least from the corner of your eye.
Litecoin, Worth Investing?
As you might have been aware, it is not easy to answer this question. It is highly difficult to predict the price of Litecoin even for 24 hours, and even more difficult for a whole year.
However, the Litecoin price predictions above indicate a move upwards. It may become more popular in the crypto world with its technological advantages.
Before investing, we highly recommend you to get a technical analysis and expert advice. We also believe that potential regulations can strongly affect Litecoin’s future. You should be aware of these regulations, particularly applicable in your country.
The future of cryptocurrency is hard to be predicted by even the biggest investors and cryptocurrency experts. Before any investment, do your homework and plan your investments to keep yourself safe even if the prices fall.
Investing all the money into a single cryptocurrency is definitely not recommended. You might think that the Litecoin price predictions above are inviting, but please do not invest without thinking about negative sides.
You are done with reading our guide, so now what do you think about Litecoin? Do you have your own Litecoin prediction? Share with us!
*Please not that this article is just a personal opinion. Consult a professional before investing.