- LTC May Revisit its Yearly Lows, Long-Term Analysis
- The overall digital asset market has struggled in recent weeks and lost billions.
- The chances of the price of Litecoin moving upwards are almost 0%.
It is no secret that the digital asset market has had a tough past few weeks having lost billions of USD in short spells. As of when this Litecoin news was gotten, the overall market cap of the digital asset space is firmly below the $200 billion mark. This means the market is hovering around lows that haven’t been seen since May this year when the overall market cap reached $189 billion. Currently, the total market cap is standing on a thread with no firm support. Litecoin isn’t an exception. It wouldn’t be a surprise if the market capitalization drops to $162 billion. The price of Litecoin is currently only a thread on top its February lows at $45.82. This means that the coin has erased 9 month worth of gains. The price of LTC is now looking to touch the key support it gained at the beginning of this year at $42.44. If this support point fails to materialize, LTC can drop to $29 which will confirm a repeat of the multi-year bottom from December of 2018.
Chances of Litecoin Price Moving Up in the Near-Term Slim
There’s very little hope for LTC to enjoy a move upwards. However, if LTC price goes unlikely north, the first barrier would be at the $64.50 area. Following the Litecoin price prediction given for the long and short term, LTC price is expected to reach $136.52 in one year. This Litecoin price prediction corresponds to an increase of 19%. The predicted growth will likely continue. Five years on, especially in June of 2024, the price of LTC will be $398.72 if everything plays out as expected.
Litecoin (LTC) Price Today – LTC / USD
Name Price $52.20 -8.56%
Meaning, the value of LTC in today’s rate would increase by 247 %. By 2025, LTC could cost $437.92. In contrast to the above Litecoin price prediction, the parameters mentioned above are cited as a source. However, the trend is similar. LTC’s long-term growth potential will be significantly higher going by this prediction. It is predicted that Litecoin will go through two price bumps in 2020 and 2025. Litecoin may close 2019 at $60, it is expected to increase in value next year. The price of LTC will reach to $320 soon and by the year 2025, it could cross the $950 barrier.