Litecoin has been on a downward trend for a few years now. Last year, it failed to overcome the support level around $100 and $120. Then, it bounced back by over 100% and claimed $235. However, its decline has now stalled and it is likely to decline by 40% again. The good news is that the cryptocurrency has found a short-term support level at $140, and it could reach the $235 mark conservatively.
While Litecoin has recently seen a second halving, its long-term price prediction is not so optimistic. This year, the price of LTC will be at a low of $4 and rise to $50. Towards the end of 2020, it will start to climb and hit the high of $40. In July and August 2021, it will fall below $40 and will fall to around four dollars. Then, in December, it will make a nice jump to $25. But, in the next two years, the coin will continue to follow a downtrend, and the inverse will occur.
Litecoin price prediction 2020 is a conservative estimate, but you should do your own due diligence. Cryptocurrencies are volatile, and you should always exercise due diligence before investing. You should always invest your money responsibly. Even if a litecoin price prediction is accurate, never invest more than you can afford to lose. Keep in mind that there is no such thing as a safe investment, and there are no guarantees that a particular cryptocurrency will increase in value in the coming months.
If you are wondering whether Litecoin will see a similar rise in 2020, here is another option to consider: USD to LTC forecasts. While this is a conservative forecast, there are some trends that point to a possible bullish breakout in Litecoin. While the USD to LTC forecast isn’t an actual market prediction, it does indicate that a similar bullish pattern is forming and a subsequent rise.
Despite the bearish predictions, the Litecoin price has performed well compared to its peers. Its scalability has improved significantly, and Charlie Lee has introduced Confidential transactions to avoid privacy issues. Litecoin has also been seen in the media, including on a UFC mat. In addition to this, a new shopping center in Singapore has installed a Bitcoin and Litecoin ATM. The future for the Litecoin currency is bright, and this is only the beginning.
Litecoin has failed to break through the resistance level at $50 in recent months. This resulted in a rapid correction. Litecoin is also likely to experience more volatility in the near future. In the meantime, its price is expected to remain low for a few more months. Although it is impossible to accurately predict Litecoin’s price, it has been consistently successful in breaking the $70 barrier.
While it is difficult to predict the price of Litecoin, it has shown a strong sentiment. With more people entering the cryptocurrency space, Litecoin is expected to increase in price. With time, it is expected that more applications will be developed for a greater number of users. The future of the LT coin is bright, as it continues to gain momentum. It is a long-term, global currency, and its volatility will continue to be a defining factor for the entire cryptocurrency community.
The Litecoin price prediction 2020 is based on the market capitalization. This will be a key indicator in determining the price of Litecoin in the future. If Litecoin can continue to keep its momentum, it will continue to rise in the coming years. It is a strong asset for any investor. However, its low price may make it unattractive to some investors. Hence, if a good Litecoin price prediction has not included that number, it is not a good indicator for your investment.
The Litecoin price prediction 2020 is based on the growth patterns that a cryptocurrency has shown. While the historical patterns should not be overemphasized or minimized, they are still a major factor. Considering the historical patterns, Litecoin is predicted to hit $1000 by 2020. This is a huge amount of money and is a great investment. So, if you are looking to predict the future of Litecoin, follow these tips to make your cryptocurrency investment strategy profitable.