Litecoin Price Prediction – Are Bullish or Bearish Times Ahead For LTC in 2019?

Built by an ex-Google employee Charlie Lee, Litecoin is known as the “silver” to Bitcoin’s “gold.” The coin was forked from the Bitcoin core to create a faster payments system for the users. It is currently the 7th largest cryptocurrency in the world with over $1.8 billion in market cap. It is priced at $30.98 with over 60 million coins in circulation.

Bitcoin and Litecoin are technically similar to each other, but Litecoin is 4x faster because of its faster block creation size. Also, there are 4x as many LTC in circulation as BTC (21 million BTC as against 84 million LTC). Just like Bitcoin, Litecoin’s price soared during the crypto frenzy of December 2017- January 2018. At its peak, one LTC was worth $366.15, and the price has crashed since them. The coin has shaved off over 90% of its valuation in a matter of one year only.

Transaction Volumes

Just days before reaching peak valuation in mid-December 2017, Litecoin’s transaction volume was $11.75 billion. On January 28, 2019, the volume has come down to $79.78 million, which shows a drastic drop. The transaction volumes of Bitcoin have also followed the same pattern, but Bitcoin’s numbers are still counting in billions of dollars ($3.05 billion as on January 28, 2019) while Litecoin is registering only a fraction of this number.

Interestingly, Bitcoin’s overall transaction count is following an upward trend while Litecoin is moving down. Bitcoin’s total active addresses are moving in a sideways trend while Litecoin’s number is falling down. The daily exchange volume of both coins has gone up in the past six months.

Price Action Disappointing

The price movement of the coin has been disappointing but considering that Litecoin is also a victim of the year-long crypto winter, it doesn’t seem to be a “bad option for most people who want to carry out transactions.

However, those who are looking for investments should be wary of Litecoin as it has a negative 1-year return potential.

By the end of March 2019, LTC is expected to lose over 2/3rd of its current value and sell for $9.893. It would continue trading sideways and reach $9.919 by June 30, 2019. The prices will start appreciating in the second half of the year, and LTC will end the year at $11.090. After falling further in the first quarter of the New Year, the coin will experience a few tumbles to trade at $9.313.

At the end of 2021, it could be worth $8.075, and at the end of 2022, it could be worth $7.971.

Overall, the state of affairs isn’t too promising, and if there are no changes in the current market trends, LTC will find itself consistently eroding in value and wiping millions of dollars off its market capitalization. If you are looking for significant gains, Litecoin shouldn’t be your coin of choice. It is a bad investment in both the short and long term. Even with a 5-year investment horizon in mind, LTC doesn’t seem to be making the cut. The currency is not a good buy.

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