Short term price analysis:
Total market cap behaviour
After swift moves down, then up, market has entered a sideways action for almost a week. But this sideways trend seems to be tilting south as the total market cap keeps leaking value by day.
One note: below numbers for total market cap are from Tradingview and has a discrepancy of around $8 billion to CMC data.
The total market cap dropped to our predicted zone of $162 billion – it stooped all the way to this level on December 18th before bouncing back up (data by Tradingview). In the jolt up, market touched on the $195 billion zone and bounced down to another low at $191 billion before slowly losing ground and sliding to the current $185 billion.
Right now, it is sitting an inch below an important support level of $187 billion. This is a critical level – if we lose the battle for it, another drift to the $160 billion is in play.
You could call the drops to the $162-163 billion levels a double bottom and declare a trend reversal but I am still not confident we are in the clear and safe from bears. Getting above $205 billion (data by TView) would be a final confirmation that we are starting an uphill move.
I would argue that total market cap chart is the most important one to pay attention to as it is a leading force and direction leader for all coins, bitcoin included.
As you can see below, Fear & Greed Index is deep in the extreme fear zone even though it did move up a bit since it was below 20 last time we did our analysis. It is still very possible that we actually do drop another $25 billion of value before we can talk about an actual reversal.
LTC/USD Price Analysis
Below is our analysis from a month ago, which is still active in our eyes. LTC hasn’t moved much from the level it was back at the end of November.
It is a historical fact in crypto universe that no individual coin can do much on its own. Majority of cryptocurrencies, no matter their market cap size are just minnows of bitcoin that bend the way the wind blows.
Litecoin is right now sitting at its big support line at $47.60. This is a zone LTC has been levitating around for the last 10 days. Volume is dying and seems LTC is going another leg lower. Next support is at $42 and in case Litecoin fails to hold that one as well – a drop to $29 is very likely.
It is still far away from its safe zone which is $20 above – at Fib786 and $64 in value.
Here is our new chart that pretty much proves our previous analysis. LTC fell below the support at $42 and grazed the $35 before slowly climbing back up to the current $40. It is still far away from a trend reversal as it first need to recuperate the $42 before attacking $47 and higher resistance levels.
Below is a brief summary of top Litecoin news of the last month:
- there were no major news around LTC in the last 30 days.
Below is our long-term Litecoin price prediction for 2019 and beyond.
What is the Litecoin price prediction for 2019 to 2025? Will crypto silver prove to be a long-term investment and step out of Bitcoin’s shadow? An assessment of the current and future market situation for Litecoin (LTC).
In order to make a meaningful Litecoin prediction, the basic facts should be known. Litecoin was first introduced in October 2011 as a fork from Bitcoin on GitHub. A week later the network finally went online. The founder of Litecoin Charlie Lee, is a former Google employee who was fascinated by the idea of Bitcoin. As a fork, Litecoin has a lot in common with Bitcoin, but also differs in some important points:
- Block time is about 2.5 minutes
- Hashing algorithm Scrypt
- Modified, user-friendly GUI
With a total of 84 million litecoin coins (LTC), the upper limit is significantly higher.
Litecoin price prediction: the decisive factors for price development
There are many arguments that can influence the price of a crypto currency in the future. As a fork, Litecoin has to compete mainly with Bitcoin in terms of performance and growth potential. In the Litecoin forecast, the following points suggest that the price will rise in the long term:
- Litecoin has become one of the preferred crypto currencies of the dark web. An estimated 30% of all transactions on the dark web seem to be processed through Litecoin. LTC is thus denying Bitcoin a lucrative market. The reason why the Dark Web seems to be moving away from Bitcoin is mainly because Litecoin is not only faster but also cheaper. In this respect Litecoin is still superior to Bitcoin.
- Due to the Scrypt PoW algorithm Litecoin is easier to mine. The mining process can be easier in Litecoin than in Bitcoin (although this concept is controversial) because the new Proof of Work algorithm is used.
- As a former Google employee, Charlie Lee embodies for many the image of a reliable, competent person. The fact that he quit his job at Google to devote his full-time time to the Litecoin project made many investors confident in the past. Lee even retired from his position as Coinbase’s technical director in favor of Litecoin.
- Litecoin enjoys great prestige in China. This is very good for Litecoin’s forecast as the Chinese market is the largest potential user pool in the world.
- All hardware wallets support LTC. This is an important point when it comes to increasing broad acceptance and trade volume.
- In the past, Litecoin has been comparatively resistant to bear markets. This shows that the crypto currency stands on solid legs.
With all the positive points to be said about Litecoin, the potential risks should not be neglected either. Because there are some arguments why the Litecoin forecast could be unfavourable in the long run:
- Now that Bitcoin has also introduced SegWit, Litecoin lacks one of its crucial competitive advantages. Many Litecoin users have been waiting ever since for Litecoin to integrate a new technology or to distinguish itself from Bitcoin in some other way.
- Litecoin has a tough time as Altcoin and Bitcoin-Fork. With Bitcoin, it has an overpowering opponent that seems to overshadow the entire market. It may take some time until Litecoin can establish itself properly and finally step out of the Bitcoin shadow. There is also Bitcoin Cash that Litecoin also has to compete with.
- The LitePay scandal of 2018 caused the Litecoin hype to collapse temporarily. Litecoin announced on February 26, 2019 that it would introduce its own payment processing system, but had to backtrack a short time later and stopped all efforts in this direction. Many Litecoin investors were disappointed and LTC lost value. Although the price (LTC price) seems to be recovering, this event shows that a Litecoin forecast must take such unexpected events into account.
Litecoin price prediction 2019 – 2025: is a long-term investment worthwhile?
As shown above, there are many points in favour of an LTC price rise. But what does this mean for the long-term Litecoin price prediction? The following is an overview of some analysts’ assessments and forecast calculations:
- Cryptoground: Based on an internal deep learning algorithm, it is assumed that LTC will reach US$ 136.52 in one year. This corresponds to a price increase of almost 19%. This growth is expected to continue. In exactly five years, i.e. in June 2024, the price for 1 Litecoin will be 398.72 US$. This means that the value of an investment at today’s price would increase by around 247 %. The platform can even give an estimate for 2025. According to the algorithmic forecast, 1 LTC will cost US$437.92 by this time.
- CryptoInfobase: In contrast to Cryptoground analysis, the factors mentioned above are used as the basis for this forecast. However, the trend is similar here. However, the long-term growth potential is estimated to be significantly higher. It is assumed that Litecoin will experience two major price jumps in 2020 and 2025. While Litecoin will close the year 2019 with 60 US$, it will increase significantly in value in 2020. This year, LTC will rise to US$320. The Litecoin forecast for 2025 assumes a price of 950 US$ for 1 LTC.