A Look at Historical Prices for Litecoin
To better understand the Litecoin predictions – forecast 2018-2020, you need to have a better idea of where it currently stands, as well as its all-time high. At the time of writing, CoinMarketCap listed LTC as having a value of $99.75.
With some digging around the internet, you can find that on Aug. 21, 2012, the first listing for LTC with USD, it was at just $0.03726 USD. CoinMarketCap first lists Litecoin’s value on April 28, 2013, when it opened at $4.30 USD and closed at $4.18 USD. By Jan. 1, 2014, Litecoin had already risen significantly, opening at $24.35. By Jan. 1, 2015, it was back down to an opening of $2.72 USD, which went up to $3.48 by the first day of 2016.
- 2017 was an interesting year for Litecoin, as the currency started at $4.33 USD but ended at $216.98. Litecoin broke $100 USD in early December and quickly got multiple new all-time highs, including $155.63 on Dec. 10 at opening, $212.46 on the 12th, and $315.36 on the 13th. The peak was Dec. 19, 2017, when it opened at $359.13. The top recorded figure was $375.29, also that day.
- However, Litecoin then plunged back down relatively quickly. Just a month later, Litecoin was worth half of its all-time high, $188.09 USD. Since then, Litecoin has mostly stayed around or below $200, rarely going above $150 between late March and May.
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Litecoin Creator Charlie Lee’s Predictions
With the historical pricing of Litecoin firmly in your mind, examine what Litecoin founder Charlie Lee has had to say about the future of Litecoin. Back in December 2017 during the peak of the cryptocurrency, he issued a strong warning, accurately predicting that the high price was not sustainable.
In a now-famous tweet, Charlie Lee reminded investors that “buying LTC is extremely risky.” He went on to say that he expected a “multi-year bull market like the one we just had where LTC dropped 90% in value.” He ended the tweet by cautioning traders not to invest if they could not handle a drop down to $20.
While Lee was certainly extreme in his caution, as Litecoin has not gotten anywhere close to $20 since its dramatic rise, he brings up a particularly good point and his warning should be taken seriously. After all, he knows Litecoin better than anyone else. The takeaway from Lee’s insights is that while Litecoin may rise overall over time, you should expect fluctuations as part of any reliable predictions for 2018-2020 and beyond. Predictions tend to look at the overall trends, without accounting for those fluctuations. Yet they are a very real part of any investment, even with the best crypto broker.
Understanding Types of Predictions
It is worth noting that there are several different types of predictions for Litecoin, as well as other cryptocurrencies. A common type of prediction, and the type that delivers actual estimated figures, is technical analysis. Using technical analysis to predict Litecoin value looks just as present and past price trends, as well as trends for trading volume. It will not consider anything behind the coin, such as the technology. Technical analysis relies on mathematical functions, which is why platforms that use it, such as WalletInvestor, are able to constantly update their predictions. Their experts developed the algorithms and computers execute the mathematical function.
- Other prediction methods account for other factors, such as the technology behind Litecoin, the fact that it has a dedicated team, and how it compares to other cryptocurrencies. Many predictions look at Litecoin in comparison to Bitcoin. Some only use Bitcoin as a basis of comparison, while others actually predict that Litecoin will surpass Bitcoin.
- Yet others will look at predictions from the perspective of traditional Wall Street investments. For example, a Wall Street trader who tracks cryptocurrency markets predicted that Litecoin will reach $500 in 2018. This might not come true, but the prediction is based on Wall Street experience.
Smartereum Predicts Good Things for Litecoin
Every set of Litecoin predictions – forecast 2018-2020 will slightly differ, but most follow a similar idea to Smartereum’s calculations. In its targeted predictions for Litecoin, Smartereum calls it a network that is solidly built and has a great deal of potential this year. Litecoin’s decentralization means that it does not have a central governance agency or authority. Instead, it allows for an open-source cryptographic protocol.
Part of the predictions behind a strong 2018 for Litecoin is due to the fact that it is regularly updated. The most recent version, 0.15.1, was released in March 2018, relatively recently. The numbering of this version shows that Litecoin has already undergone numerous enhancements, indicating a potential to keep up with the changing cryptocurrency market. This particular prediction also points out that the C++ code language for Litecoin makes it compatible with Android, Windows, OS X, and Linux.
Smartereum also points out that Litecoin has experienced significant growth already, showing even more potential. It points out LTC’s spot among the preferred altcoins for investors worldwide as well as the fact that it was the first major cryptocurrency to adopt the SegWit system, which increases the blockchain’s block size limit. For further proof of the potential increase in value, the prediction notes that Litecoin was the host platform for the Lightning Network transaction that sent 0.00000001 LTC between Zurich and San Francisco in under a second. This shows the great potential for Litecoin, in terms of adoptability and value.
WalletInvestor Predicts Rewards for Long-Term Investments
WalletInvestor, another website made up of cryptocurrency experts known for making educated predictions, also sees potential growth for Litecoin, including specific estimates. This website uses its own forecast system to create its Litecoin predictions – forecast 2018-2020. Based on that system, the team feels that LTC is an “awesome” long-term investment, with long term indicating at least a year.
Because WalletInvestor has its own forecast system, it is able to regularly update its price predictions for Litecoin and other cryptocurrencies, something it claims to do every three minutes. At the time of writing, it listed the Litecoin price at $99.497 USD with a one-year forecasted price of $261.839 and a five-year forecast of $905.118. In other words, WalletInvestor predicts that buying Litecoin now and holding onto it until 2023 would give you a return of about 809.69 percent.
In the immediate future, however, WalletInvestor predicts a continued small decrease in Litecoin for the next few days, indicating that you may want to wait for a little while to purchase this cryptocurrency. Yet the predictions for the next months and throughout 2019 indicate an increase in value of Litecoin. Specifically, the forecasts in the long-term price predictions for Litecoin indicate a sharp increase up to about $175 or so by late in 2018, followed by a quick spike up to over $250, possibly $260 right around New Year’s. This is possibly inspired by last year’s spike at the same time.
Can Litecoin Surpass Bitcoin in Value?
A key point when discussing a crypto broker comparison between Litecoin and Bitcoin is whether LTC has the potential to go above and beyond Bitcoin’s value. It is impossible to know for sure, but some experts do see a few signs pointing toward the potential for Litecoin to overcome Bitcoin. After all, the two cryptocurrencies are remarkably similar, with Litecoin representing a handful of improvements. On the other hand, Bitcoin is currently priced at multiple times the value of Litecoin, with 1 BTC equal to 65.48893119 LTC at the time of writing. It would take a significant increase to overcome such a large difference.
Those who think Litecoin may eventually overcome Bitcoin do have a few points backing up their hunches. They point to the fact that Litecoin has recently shown more growth than Bitcoin, specifically within the last year or so. They also point out that Litecoin improves upon Bitcoin technology, citing the fact that it is four times faster. Experts also feel that Litecoin currently shows a better ability to recover than Bitcoin.
As far as the significant price spike for Litecoin to match or overcome Bitcoin, OracleTime predicts that Litecoin will reach $1,000 by the end of 2018, as does InvestingPR. Of course, these are just a handful of sites, and many others have much more conservative figures. LongForecast, for example, predicts a high of $257 in September 2020 or 419 in July 2021, much lower than those $1,000 predictions.
What Will Impact Litecoin Forecasts?
As with anything else, the Litecoin predictions do not sit within a vacuum. There are numerous external circumstances that can impact them and Litecoin’s future. Changes to technology can play a role, such as the recent Litecoin Cash fork. This was a hard fork, and experts thought it may lead to an increase in value of Litecoin, although the effects were minimal. At the very least, Litecoin has continued to perform well, although Litecoin Cash has not necessarily matched that. Another example of technology would be the adoption of Litecoin as a payment method for more merchants and at more cryptocurrency ATMs. As LTC becomes more useful, its popularity and, therefore, price will increase.
Regulations around the world will also have a strong impact on Litecoin and other cryptocurrencies. The thing to remember is that the cryptocurrency world is not regulated in most jurisdictions at the moment. Countries are still trying to figure out what restrictions to impose on cryptocurrencies. Depending on the regulations various countries settle on, cryptocurrencies may explode and become even more popular or decrease in popularity, either of which would impact the price of Litecoin.
Of course, there is a long list of other factors that can impact the Litecoin forecasts, such as if any weaknesses of its blockchain are exposed, the involvement of the team, and new cryptocurrencies that arrive. Even predictions themselves can affect the future price of Litecoin by influencing whether people buy or sell Litecoin.
Litecoin Predictions Forecast Rewards
No matter the source you choose to look at, the Litecoin predictions – forecast 2018-2020 must be taken with a grain of salt. There is no way to predict the future with guaranteed accuracy, but those in the industry have been making predictions for years and have industry insights that improve their chances of accuracy. Overall, most authorities expect Litecoin to rise in price in the next few years, although they predict ups and downs along the way. More importantly, there are vast differences in predicted values among various experts, showing the importance of doing your research before making an investment and reading numerous forecasts. Even those who agree that you are likely to make money by buying Litecoin and holding onto it for the long term will admit that there are numerous factors at play, most of which are out of our control. Despite this, it helps to gain insight from experts familiar with this and other cryptocurrencies, so you can better predict where your Litecoin investments will take you.