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On October 13, 2011, the cryptocurrency known as Litecoin (LTC) burst on to the altcoin scene.
Founded by a former Google employee by the name of Charlie Lee, Litecoin is a hardfork of the Bitcoin Core client and has features similar to that of the original Bitcoin.
However, Litecoin also differs, in that it offers a decreased block generation time, which the developer’s claim makes for faster transaction confirmation. It also uses a scrypt in its proof-of-work algorithm, thus making it more expensive to both create and mine.
To learn more about Litecoin, and get resources on the project, check out our Litecoin Guide.
From a price standpoint, Litecoin reached its all-time high of roughly $371 (USD) in mid-December of 2017. At present time, one can expect to pay about $130 for a single Litecoin.
While the price has decreased considerably since late 2017, there are still many who are optimistic regarding Litecoin’s long-term growth going forward. Here are just 3 Litecoin price predictions for 2018 and beyond!
Note: “This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.”
Having graduated summa cum laude with a degree in Economics and Finance, Research Analyst Palwasha Saaim knows a thing or two about currency.
She has recently published articles both discussing and analyzing Litecoin’s price. In her own words,
“Litecoin is gaining traction because of its scalability and low transaction fees—which make a good use-case against Bitcoin. This is an area where most peer altcoins have failed to prove themselves.”
She also points to other factors, such as Litecoin becoming a part of traditional investment portfolios and it’s availability on America’s largest exchange, Coinbase, in her analysis.
All things considered, Saaim believes that LTC will hit $400 in 2018.
Young is a former 6th–grade spelling bee runner-up and founder of the digital currency data site Spreadstreet.io. He recently published an article forecasting the price of several popular altcoins for 2018.
Young uses a method he calls a “Monte Carlo simulation using the geometric Brownian motion model,” to predict future crypto price points. The method would require its own article to explain adequately, but he essentially gets historical daily prices, calculates daily return, and simulates the year many times over to come up with his numbers.
Using this formula, John Young believes that for 2018,
“We can be 95% certain that Litecoin prices will fall between $30, and $7,636 with a median of $472.”
An author on the website Steemkr.com, the man simply known as Cryptones is extremely optimistic when accessing Litecoin’s future.
While little information about his background is provided, Cryptones still offers some interesting analysis. Moreover, while most predictors don’t go beyond 2018, the blogger forecasts LTC’s price as far forward as 2020.
In fact, Cryptones believes that a single Litecoin could be worth as much as $3,500 by the year 2020.
LTC founder Charlie Lee has previously stated that Litecoin is the Silver to Bitcoin’s Gold. Along the lines of this premise, The Steemkr author states the following,
“Litecoin is somewhat of a hybrid between currency and a quarter Gold. Given the market capitalization of global fiat currencies is approximately $5 Trillion and the Gold market is around $7 Trillion. It seems perfectly feasible that Litecoin could attain 2.5% of this asset pool, which would equate to a market cap of around $0.3 Trillion. If this were to be achieved, the value of 1 LTC would equal…. 0.3 Trillion / 84 Million = Roughly $3500.”
What are your price predictions for Litecoin (LTC) in the coming years? Let us know on Facebook or Twitter!
For other price prediction articles we’ve published, check out our Ether Price Predictions, Bitcoin Price Predictions, and Ripple Price Prediction articles. And if you want to learn more about Litecoin, check out our guide and resource page on the blockchain project!