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Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230

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Fri, 02/22/2019 - 11:44
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  • Litecoin price forecast 2019: The coin has the chance to reach the value of $230. What are the factors contributing to LTC growth?

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Following Bitcoin’s path, Litecoin seems to be on the rise: it’s becoming quite popular among investors and is slowly gaining in price. There’s a very high probability that it will trade higher than $30 all year long, but what about its highest points?

Litecoin Price Forecast 2019: Set Sail to Break the $50 Iceberg and Swim as Far as $230

Focus on numbers: Litecoin’s future in 2019

Although the bearish period seems to be over, the crypto market is still highly volatile. That’s why making any short-term predictions is quite hard. However, it doesn’t discourage analytical websites and people from making their own forecasts.

Thus, according to publications on various crypto websites, Litecoin has enough potential to reach the $1,000 edge. Some articles mention the number $2,000 – it seems to be far from reality. What are these suggestions based on? It’s not clear.

However, these forecasts are on par with predictions from some experts. For example, George Tung, a cryptocurrency analyst, claims that Litecoin will reach $1,500 towards the end of 2019. Brian Kelly, the head of BK Capital Management (LLC), is sure we might witness an LTC price of $500 or even $600 by the end of this year. Though conservative, this approach seems to be close to reality.

In November 2017, Litecoin was traded at $100 and investors managed to enjoy 25x ROI. If the market is hit by the bullish wave again, the scenario can repeat: LTC might jump from its current $48 to $1,200. But what if that won’t happen?

Our guess is that Litecoin can reach the range of $150-$230 by the end of 2019. How can it crawl to such numbers? First, in August 2019, the block reward for miners will be cut by 50%, which might provoke the growth of demand for LTC.

What will kick-start Litecoin growth?

Here’s the whole gamut of factors that can make Litecoin soar separately or altogether:

  • The rate of accepting Litecoin on exchanges and online websites will gradually increase. One of the adoption examples is the Surf Air store that started accepting LTC payments.

  • Of course, Litecoin’s growth is partially defined by Bitcoin’s performance. At the moment, BTC is on the rise. However, Litecoin seems to recover from the bearish period much faster and better.

  • At the same time, while Bitcoin’s gaining in traffic, users start complaining about growing transaction fees and slow performance. That’s when their attention switches to Litecoin, with its lower commissions and better speed.

  • A big influx of traffic on Coinbase is expected – it backs three major crypto assets, including LTC.

Thus, Litecoin is getting more and more media attention, which only contributes to its growth. Some Internet users are sure that it has to reach the $50 mark to get back on track and start gaining in value. This event is definitely around the corner!

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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XRP & Ethereum Plunge 90% From Record Highs as It Risks Big Correction

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Sun, 03/29/2020 - 14:00
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  • Ethereum and XRP would have to rebound to at least $150 to see any possibility of a major recovery.

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Following the near 10 percent decline in the bitcoin price on Saturday, the altcoin market has sharply plunged once again. XRP and Ethereum, in particular, are now down by 94 percent and 91 percent respectively from record highs.

The underwhelming performance of altcoins have led the valuation of the entire cryptocurrency market to drop by more than $100 billion since early March.

The Ethereum price has to surge by 20% or more to kickstart recovery
Source: Twitter.com @CryptoDonAlt

XRP and Ethereum see gloomy short-term trends

In recent weeks, the price of XRP has declined to levels unseen since mid-2017 despite substantially lower institutional sales of XRP by Ripple.

Throughout the past year, small market cap altcoins have generally followed the near-term price trend of XRP; when the price of XRP slumps, low market cap cryptocurrencies also tend to underperform.

The lackluster momentum of XRP and three consecutive lower highs at a macro level indicate that there is low demand from buyers to lead a strong recovery for XRP in the short-term.

While Ethereum has performed better than XRP since early 2020, it is seeing a similarly stagnant trend, influenced by the inability of bitcoin to break out of key resistance levels.

Prominent cryptocurrency trader DonAlt said earlier this week that the price of Ethereum would have to rebound to at least $150 to see any possibility of a major recovery.

He said:

“The USD pair looks even worse. ETH dropped by 90%+ and is now ranging putting in lower highs and lower lows. I like being bullish as much as the next guy but as long as ETHUSD is trading & closing below $150 I see little reason to expect higher prices.”

Currently, the price of Ethereum is hovering at $128, and it would need to see a 20 percent upsurge in the near-term to kickstart an extended rally.

Does the crypto market have any catalyst?

Whether key catalysts exist to trigger a 20 percent increase in prices across the cryptocurrency market remains unclear; especially as the level of fear towards the coronavirus pandemic continues to intensify.

As financial analyst Koroush AK said:

“Most businesses and individuals still have 1/2 months runway. Assuming handling the virus lasts several months not several weeks. Let's see how many want to be holding, let alone buying, bitcoin when struggling to pay bills and put food on the table.”

Technical analysts generally believe that for the altcoin market to see revived momentum in the upcoming weeks, bitcoin would have to show strength as a result of the global equities market bottoming out.

With second quarter earnings in the U.S. stock market yet to be released, analysts remain negative about the near-term trend of the stock market as well.

About the author

Joseph Young is an analyst based in South Korea that has been covering finance, fintech, and cryptocurrency since 2013. He has worked with various recognized publications in both the finance and cryptocurrency industries.

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