Just like finance is not limited to gold, the crypto market does not revolve exclusively around Bitcoin. There is a whole world of altcoins out there, many of which are worthwhile and often long-standing projects. With an almost decade-long history, Litecoin is definitely one of the most prominent among such altcoins. This time ChangeHero is going to give an overview of Litecoin price prediction for 2020 and further down the road.
About Litecoin (LTC)
Litecoin is a code fork of Bitcoin (meaning it shares its source code, but no blocks). It was explicitly designed to mimic the original while improving it at the same time. Litecoin features faster block times (2.5 minutes) and larger total coin cap (84 million), in proportion to Bitcoin. You can find more on the specifics in our guide on Litecoin.
At the moment of writing, LTC has a market capitalization of $2,836,418,429 USD (7th rank), and with the circulating supply of 64,783,931 LTC, a single Litecoin is worth $43.78 USD.
Litecoin Price History
The initial price for Litecoin soon after launch in 2011 was only about 30 cents. By 2013, it had established presence in the market and risen to $3.
LTC price from 2013–2015
In late 2013, the first bull rally for Litecoin began, taking its price over $30 by the start of 2014. As is almost always the case, such a sharp increase was followed by the correction, which was further accelerated by the Mt. Gox hack. By late 2014, Litecoin’s price had returned to $2. After two short periods of recovery in January and spring of 2015, Litecoin entered the consolidation period.
Litecoin price performance between 2016–2019
This period, when the Litecoin price stabilized at the $3 level, lasted for almost two years. The second bull run began in March of 2017, the price reached $80 in September. But that was not the end of the bull market, which culminated in the all-time high for Litecoin — $375.29 on December 19, 2017. And again, a sudden rise was, as expected, followed by a market-wide correction. For Litecoin it lasted for the entire 2018, and the closing price for that year was $30.47. The good news was that the end of that year would become the lowest point for LTC’s price for a while, and it is still about ten times more worth than the Litecoin price before 2017.
Another bull market was in store for Litecoin in 2019. By June, the price had climbed up to $146.43. One of the possible reasons for this might have been anticipation of the reward halving in August. For Bitcoin, halvings have proven to be bullish events so far, but the same has not happened for Litecoin. In the end of the year, it was back at $40, which became a starting point in 2020.
Litecoin Price in 2020
Having started the year at $40, Litecoin was steadily accumulating value again, doubling in price in February. Who knows how far this rally would have gone if not the global economic crisis and the March crash, which brought Litecoin’s price below the last two years’ minimum to as low as $25.57 USD. From there on, however, we can see a slow but steady recovery. At the time of writing, 1 Litecoin is worth $43.78 USD.
What influences the LTC price
In addition to a large list of already existing partners and sponsorships, in recent news, Litecoin has partnered with Atari, a pioneer American entertainment enterprise. It entails more marketing opportunities for both of these companies. Users can buy Atari Tokens for use in the Atari ecosystem, as well as upcoming PC-console hybrid Atari VCS at a discounted price with Litecoin.
MimbleWimble protocol upgrade will make Litecoin more embraced by crypto users that need privacy for whatever reason. The optional nature of privacy feature alleviates the risks of being delisted from the exchanges that are strictly compliant, like Coinbase. Besides, the extension blocks solution that is proposed as a way to integrate this protocol can also be used to introduce other protocols as well.
Developer activity is relatively high in this project, so the technology is constantly moving forward. Litecoin is sometimes treated as a testing ground for Bitcoin because it implemented features like SegWit, Lightning Network and atomic swaps, which proved to be successful, ahead of it. By helping Bitcoin advance, Litecoin inadvertently assists the whole market.
As large and long-standing crypto projects often do, Litecoin has a foundation on its own. Litecoin Foundation’s primary goal is to increase awareness and adoption of the currency. Litecoin’s Foundation strategy is unique for this space, since they strive to reach not only partnerships with other crypto of financial enterprises but also take a more cultural approach by sponsoring UFC, San Diego International Film Festival and the aforementioned collaboration with Atari.
You can watch a recent interview with Charlie Lee, Litecoin creator, now managing director at Litecoin Foundation, for his insight into how each of these factors can influence the future of this currency.
Thoughts from Influencers
Litecoin is quite actively discussed on Twitter with the hashtag #litecoin, both in the context of recent news and generally.
Dan Gambardello, YouTuber and Crypto Capital Venture founder, in addition to being a self-proclaimed “Bitcoin connoisseur” is also known for being bullish on Litecoin. In January he predicted that after the Bitcoin halving, the Litecoin price can increase tenfold if the patterns with the previous halvings repeat this time around.
David Schwartz is commenting on the news about Litecoin’s partnership with Atari, saying that it is beneficial not only for LTC but for the whole sphere as well.
John Kim is one of the most popular influencers that is heavily engaged with the Litecoin community. No wonder his stance on the coin is bullish but beyond that he is convinced that both “digital gold” and “digital silver” can be safe haven investments.
A different opinion is expressed by Jason Mack of Coinflip: he sees LTC as both a means of value transfer and a means of payment. As expected from a person involved in an adoption initiative!
Litecoin Price Predictions for 2020
PrimeXBT LTC Price Prediction
PrimeXBT gives a positive prediction for the future of Litecoin. It has proven its worth over the years, being one of the longest standing projects in the sphere and staying in the top ten. Its technology lets it serve as a testing ground for Bitcoin innovations, so one could say this fact also contributes to Litecoin’s value. Moreover, in 2019 and 2020 so far it has been among the best performing assets as well.
All these facts let them conclude that a positive trend can be expected in the future. LTC’s price can test the resistance at $310 USD, bringing it near to a previous ATH of 2018. In a less likely pessimistic scenario, they predict a return to $5–$7 level.
Previsioni Bitcoin LTC Price Prediction
This forecast resource gives an incredibly bullish prediction for Litecoin price in 2020. Their reasoning? The whole market is expected to rally and stabilize in the light of the Bitcoin halving. In addition to that, national digital currencies will pave the way for mainstream adoption of crypto. In a word, they expect the Litecoin price to move in sync with the market.
According to this forecast, in the end of 2020, a single Litecoin is going to be worth $149 USD.
Captain Altcoin Litecoin Price Prediction
CA’s team chooses not to make any definitive statements on the LTC price ahead in 2020 themselves. Nevertheless, their Litecoin price prediction state that LTC prices might revisit their lows from 2018, given how harsh the March stock crash was on the crypto market as well but once this situation passes, we can expect a “crazy bull run” with a high degree of probability. Litecoin will recover in the second half of 2020, following suit, and we can already see this happening. According to the predictions they cite, experts expect Litecoin price to stay within the range of $47 to $472 at the end of 2020.
Litecoin Price Prediction from 2021 to 2024
Gov.capital’s LTC Price Prediction for 2021
Gov.capital’s algorithmic projections suggest that 2020 might become a repetition of 2018 for Litecoin. Just before the year ends, a huge pump will occur, taking the LTC price up to a $90–120 range. In 2021, the price will be corrected and drop back down to a $50–70 range, which is still a 25–30% increase from the current level.
2020 will close with the Litecoin price within the $60–80 range, reach $140 in May 2021, return to $100 in fall and stay within $90–120 price range until the end of the year.
TradingBeasts’s Litecoin Price Predictions for 2021–2023
Based on the forecast for 2020, in January 2021 Litecoin will have a head start into the year, with a positive change of 11% that brings the price range up to $40–60 USD. Of course, there will be a correction afterwards, and for the next few months the range will get back to $30–50. In the second half of 2021 the Litecoin price range will recover to the start of the year levels.
2022 will be a very bullish year for Litecoin. Average monthly trading price will exceed $60 in March and $70 in October.
The rally will continue well into 2023, when average monthly trading LTC price will exceed 80 in May 2023 and approach $90 by December.
LongForecast on LTC Price Prediction for the years 2021–mid-2024
LongForecast’s Litecoin price prediction gives a detailed breakdown of LTC prices for the next few years by month.
2021: the opening price for this year is $31.78 USD. From February through May bear market prevails, Litecoin recovers only by August, 2021. Highest average price for 2021 is recorded in September at $35. From there on, another downtrend starts.
2022: The bear market that started in September, 2021 lasts for an entire year. For the most of 2022, the Litecoin price does not exceed $20 USD. The year closes with 1 LTC worth $18.77.
In 2023 bears give way to bulls. The price doubles by August, 2023, and Litecoin is traded at $34.35. With a slight setback in September, the bull run continues. Litecoin in 2023 closes at $35.50.
Finally, for the first half of 2024, the rally goes on, albeit with more fluctuation. January sees positive change of 6.5%, which is then overridden by descent to $33.31 average price in March, but by June, 2024 Litecoin’s price rises up to $50 USD.
Litecoin Price Predictions for 2025 and 2030
DigitalCoinPrice: $78 in 2025
Based on historical data, DigitalCoinPrice predicts that Litecoin will be worth around $70 USD in 2025. The maximum price will be reached in December, when it will be traded at $78.59 on average. There is a possibility that this forecast includes the influence of the next Litecoin halving in 2024, since it is a cyclical predictable event.
StormGain: $150–$160 in 2025
StormGain gives a positive forecast for Litecoin five years from now, since it has a large user base, as well as great outreach and awareness campaigns, carried out by the Litecoin Foundation. However, they are not as bullish for LTC price predictions as some other experts, just because in Litecoin’s lifespan other altcoins emerged and gained attention and traction, which is bound to continue in the future. And so, they expect LTC to be worth about $150–160 in 2025.
Crypterium: $1200 in 2025, $1500 in 2030
The next Litecoin mining reward halving to 6.25 LTC is expected to happen sometime in 2023. Halvings promote asset scarcity to investors, so Crypterium predicts that this might take the price of LTC up to $1200 five years from now and to $1500 in ten years.
Both teams back their opinion by gathering the experts’ predictions and forecasts, as well as weighing in on the technical characteristics and planned improvements to Litecoin code. However, while the level of $150–160 is somewhat feasible, $1200 is four times higher than the current ATH price for Litecoin, and to achieve that, the market cap has to multiply by more than 30 times of the current pool, and that is not taking the increase in coin supply in account.
TradingOnlineGuide.com: $600 by 2030
Marco Sbalchiero gives a simple reason for his litecoin prediction: in the following decade, cryptocurrencies will become more widely used, their price will stabilise and value will accumulate with more investors owning the currency. When the whole cryptocurrency market matures, the Litecoin will go up to $600 USD, in his opinion.
ChangeHero’s Litecoin Price Prediction
As far as altcoins go, Litecoin is in a unique position. It is in a closer relation to Bitcoin than any other currency and at the same time its almost decade-long history proves that it can stand on its own.
If we define Litecoin’s use case as being a faster and cheaper Bitcoin — like in the relationship of silver to gold — it stays unique. There is no doubt that there are altcoins that provide better options for fast and cheap transacting or privacy and fungibility, but the developers seem to be tackling the competition. At this point, it is entirely up to the dev team to keep Litecoin relevant and the Foundation to help it find the coveted crypto adoption.
Our conclusion and Litecoin price prediction is, as long as these conditions are met, it will attract new investors, though as a scarce asset it may find a limited degree of adoption in the mainstream.
Bitcoin is expected to take the whole market on the rally, and Litecoin is a solid choice if you want to hop on the altcoin train. You can exchange Litecoin on ChangeHero like it was intended: for a small and fair fee and extra fast.
This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.