changelly.com
Litecoin In 2020 and the History of LTC
The coin was fast to get the attention of the small but growing cryptocurrency community of the time. However, after its launch on October 8, 2011, its price remained to be relatively low, with an average value of around $3.
The first price peak in the LTC price history happened in November 2013, when its value almost doubled within one day and ultimately reached 50 USD per coin on November 28. However, shortly after the peak, the LTC price dropped to 10 USD per coin in April 2014 and further to a little over 1 USD in February 2015.
During 2018, Litecoin’s price graph has been demonstrating a descending trend. Despite its established position in the industry, the coin was affected by the overall descending dynamic of the market. The downward LTC price trend only changed a couple of times – in February and April.
However, it looks like the coin managed to find a stable position. Since the start of the fall, there was only one significant LTC price drop and for the most part, the coin’s price evaded the overall market’s volatility. LTC price even increased during the period from December 8 to January 30.
In the first half of the year, Litecoin has a bullish trend. From January to June, LTC price increased four times from $31.02 to $138.4. The reason for this price increase was the upcoming halving, which took place on August 5.
People believed that the price should go up after halving, so they bought a lot of LTC coins, thereby raising the price themselves. It was quite predictable that the price would go down by almost 50% after the halving. That is what happened.
During 2020, Litecoin was in a downtrend. The year started at $41. Then LTC managed to double and reached the $80 level in February, but the holiday quickly ended when Litecoin was unable to withstand market pressure in mid-March and fell up to $27. Since then, the asset began to recover and rose 57% from the minimum, and then reached the price of $43 at the time of writing. Thus, the growth was minimal relative to the quotes of January 2020.
Litecoin Experts Weigh in On Litecoin Projected Growth
There are many experts and influencers who are inspired by Litecoin cryptocurrency. Let’s take a look at the brightest future predictions.
John Kim from Litecoin Foundation
John Kin calls himself a Litecoin evangelist. In Litecoin, he is one of the key figures of the development team. When Litecoin reached $50, the developer set a new goal of $60.
Technical analysis is used primarily as a tool for predicting price movement and market behavior. Technical analysis is more popular for the short term analysis. Let’s look at Litecoin in terms of technical analysis for the short term prediction. We’ll use the fundamental analysis to determine the long-term prospects of the LTC coin.
Litecoin Price Prediction 2021 – 2022
According to the TradingView user TopTradingSignals, it’s time to sell Litecoin by the end of 2020. The coin may be pushed down by the overall market situation. However, this opinion is not the only one.
Amatiash user sees the big triangle on the current Litecoin graph. We can see the definite downward trend that can bounce the coin price right by the end of 2020 — absolutely the opposite opinion from the previous speaker.
Over the past 12 months, there have been some events that have raised concerns about the long-term outlook for this cryptocurrency and affected Litecoin’s outlook. Last August, the reward for a new block was cut in half, and it did not generate as much hype as it did with BTC in May. This led to a drop in the LTC hash rate by more than 70%.
According to the Swiss cryptocurrency bank SEBA, miners are skeptical about the upside potential for Litecoin. If we consider Bitcoin, Ethereum and Litecoin, then the first two coins demonstrate a healthy commitment of the team to developing their projects. Litecoin cannot boast of an equally large development team and does not so often please the fans with updates than other coins. As a result, this undermines the confidence of miners in the fundamental prospects of LTC.
Litecoin Price Prediction 2023 – 2025
We can’t say that we are sure with these long-term predictions that we’ll talk about down below. We’ve accumulated all the AI services’ forecasts like Wallet Investor, Digital Coin Price, and more in the tables below so you can see the possible figures in the next five years.
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
| Gov.capital | $106 | $92 | $244 | $270 | $410 | $545 |
| Wallet Investor | $80 | $50 | $33 | $17 | $8 | $2 |
| Digital Coin Price | $83 | $94 | $103 | $92 | $95 | $101 |
Charlie Lee About Litecoin Future
Charlie Lee, the head of the Litecoin Foundation and creator of Litecoin cryptocurrency, believes that Bitcoin’s price will rise to $20,000 in the next three years. The expert stated this in the project’s Telegram channel on Monday, February 4, a screenshot of the message was published by The Daily Hodl.
By the way, the creator of Litecoin sold all of his tokens at their peak when their price approached the all-time high of $370. He explained that he wanted to get away from conflicts of interest and accusations of manipulating the cryptocurrency value for his benefit.
Conclusion: Is Litecoin a Good Investment and How Much Will LTC Be Worth?
Charlie Lee once spoke about price predicting and said it was impossible to predict any coin’s price. This is understandable since the price of a coin depends not only on existing factors but also on those that appear in market development. These factors constitute the fundamental analysis of the coin.
You can always do your own research based on the project roadmap, the implementation of the declared milestones, the developers and the top managers’ reputation. Social media activity and feedback from users and token holders can also help you make the right choice. The cryptocurrency market is so volatile that it is impossible to predict the exact value of the currency, but only the direction of the development of the common market.
Keep in mind that Litecoin is a pretty established coin in the cryptocurrency world. We’ve all known Litecoin and its team for a long time, so investing in this cryptocurrency is quite safe. Always keep an eye on market changes, especially Bitcoin, which is most often reflected in all altcoins.
As you’ve already understood, investing in Litecoin is safe and possibly profitable. Our service can help you with this. For many years now, we have been assisting users in exchanging and buying coins in the blink of an eye. We offer a range of rates so that you can choose the best ones for buying or swapping Litecoin in the widget below.
Recently we’ve launched a trading platform named Changelly PRO, which can help you to trade Litecoin cryptocurrency in any possible pair.