Litecoin Price Prediction: Expert Opinion On Litecoin Price Forecast
Litecoin price prediction is as arduous as any asset class or currency out there. This is because 2018 has been a roller-coaster ride unlike anything we’ve ever seen.
Before delving into the business of price prediction, let’s first go through a bit of all things Litecoin.
Like most cryptocurrencies, Litecoin is based on Bitcoin’s core technology-blockchain and as one of the first cryptocurrencies, the creator of Litecoin didn’t want to compete with Bitcoin but instead create this coin that would complement Bitcoin functionalities.
That is why we have the Silver Gold comparison and for simple reasons. Before major implementations on the Bitcoin core network, Litecoin network often test-drives those proposals. All major additions on Bitcoin as Segwit, Segwit 2X, Lightning Network and other BIPs were first tested on Litecoin because of its relatively small cap nature and level of adoption.
Supporting Fundamentals that Place Litecoin Ahead of the Pack
Pound to pound, Litecoin is one of the largest cryptocurrencies by market cap in the world with a current capitalization of $1.7 billion. Regardless, the value proposition and utility of the coin isn’t stopping cryptocurrency funds and institutional investors from sinking their monies into Litecoin. The results are high daily transactional volumes and inevitably, deep liquidity which traders are desirous of.
Additionally, Litecoin is an open source project. The creator cannot sway or influence the prices of Litecoin in any way. As a matter of fact, Charlie Lee sold his Litecoin holdings in the first quarter of the year. Additionally, going by the trends of the SEC, it’s likely that the regulator will place Litecoin in the same fold as Ethereum and Bitcoin which are by all angles utilities.
On-chain developments as implementation of Segwit and Lightning Network—a second layer scaling solution that increases speed of transaction and scale the network, will fast track adoption of Litecoin. Inherently, Litecoin is faster than Bitcoin thanks to their fast block creation and settlement time. So, with LN, there is boost of speed. Additionally, plans of atomic swaps (LTC/BTC) there will be more usability and fond user experiences.
Litecoin Price Prediction
2018 has been brutal for cryptocurrency in general. At the time of writing the price was $29.58 down from a high of about $300 in January. Price predictions from a year ago simply could not hold as the year went by.
What will Litecoin prices look like in the short and long-term? A bull market for one would be huge but can only slow the slide for now. Accordingly, this year will probably see minimal rise and the real action can happen in 2019.
In that regard, a strong run to end the year could see Litecoin in the $30-50 USD range. For 2019, the effects of the panic and bear market that saw Litecoin get oversold will likely fade. This means that a rise above $100 could be in the pipeline. This prediction is likely on the upper end and a price rise if any will be gradual.
YouTube Video Courtney of WeUseCoins.