Litecoin is the 3rd most traded cryptocurrency in the world. After Bitcoin and Ethereum, LTC has attracted the attention of many traders.
In 2016, thanks to the cryptocurrency boom in the world, LTC saw its price rising too. However, recent market fluctuations have strongly affected the trend, which saw a decrease.
During the beginning of 2020, with the event of Coronavirus, Litecoin suffers a strong instability.
Does this mean it is a good investing opportunity? Or is it better to invest in something else because the cryptocurrency is going to die?
Let’s see our prediction for Litecoin Price in 2020, 2025, and 2030.
What is Litecoin?
Litecoin is one of the main cryptocurrencies in the world. A cryptocurrency is a virtual currency which could be used to complete online purchases.
It was developed by Charlie Lee and first presented as an open-source code via GitHub back in 2011.
LTC was created as alternative to Bitcoin. Its function was supposed to be the same as Bitcoin, just faster and lighter.
This means that differently to Bitcoin, Litecoin has a sequence of code which improves its speed, keeping untouched the encrypted fundamentals.
Some of the main changes to Bitcoin are:
- Lower block generation time
- More Coin available
- Different graphic user interface
- Different Icon and colour to Bitcoin
Litecoin Price Analysis
After the LTC was launched, its price remained stable below 3$ from 2011 to 2017. The real movement happened at the beginning of 2017 when all the cryptocurrencies started to grow their value.
Following the positive trend of Bitcoin, the Litecoin price grew from 3$ to 50$ in less than 1 year.
This can be explained with the fact that after their creation, cryptocurrencies has been such a futuristic concept for the society, that nobody thought to really invest in them.
In 2011 Facebook had just boomed and social media had the focus around the world. The possibility to pay with a virtual currency was still something too far in the future.
But at the end of 2017 something really changed. Let’s see what.
Litecoin (LTC) Price Analysis 2017 – 2018
After reaching its pick in December 2017 touching the price of $320, the trend started to decrease.
Despite its establishment in the industry, an overall descending trend affected the whole cryptocurrency world.
This has affected LTC too, bringing the price to a low of $32 by the end of 2018.
Something to mentioned is that 2017 and 2018 has been 2 incredibly volatile years for the cryptocurrency market.
Rarely in the history there has been assets changing so fast their price in such a short period.
For many cryptocurrencies have just been a bubble perfect for speculation. For others it will be a solid asset to trade and the use of crypto will become part of our reality.
Litecoin (LTC) Price Analysis 2019
2019 has been a very positive year for cryptocurrencies, and especially for Litecoin too.
In January 2019 the price was at $32. At the end of June 2019 it grew up to $138.
Let’s see what is the reason behind it.
The reason for this price increase was the upcoming halving, which took place on August 5.
People believed that investing in Litecoin could have been a good idea, and just invested themselves in it. This helped the price to really grow up to $138.
After the pick, and after many sold the currency, the price dropped again to $47 by the end of the year.
Litecoin (LTC) Price Prediction for 2020, 2025, 2030
Litecoin is still a good investment. Its price could stabilize at around $200. Cryptocurrencies will become slowly an important part of our reality. A strong belief is that they will be used every year more in the day to day life.
For instance, in 2020 Facebook will officially launch their official cryptocurrency Libra, which could be a game changer in the cryptocurrency world.
Litecoin Price Prediction 2020
At the beginning of 2020 the Litecoin price was at $48. Now all the world is dealing with the Coronavirus pandemic, which made the market very volatile. LTC value went up to $75 dollar by the end of February, to a low point of $38 by the end of March 2020.
The prediction for this year is that with the end of the pandemic and more trust on the virtual world, the Litecoin price could grow back above $100 by the end of 2020.
Litecoin Price Prediction for 2025
Litecoin price will increase according to DigitalCoinPrice.
In 2025, so in 5 years time, the price will have negative changes and it will drop again. In the long run, Litecoin is gaining momentum again. This is because probably cryptocurrencies, as mentioned before, will become an important asset in the day to day life, which will make their price more stable and durable for the future.
It could reach the price of $300 by the end of 2025.
Litecoin Price Prediction for 2030
Following the same theory, it could be predictable that the Litecoin price would rise from $300 to $600, which is +60%. Again it won’t ever reach the value of Bitcoin and Ethereum.
For instance, by the end of 2030, the price of Litecoin could be around $600.