FXCM group, a leading international company in online foreign exchange, recently announced that it has extended its cryptocurrency offering by adding Litecoin, their third crypto CFD. Recently, Charlie Lee announced that Litecoin introduces Confidential Transactions to wear off the fungibility problem. This is a huge step towards Litecoin’s growth as it will no longer be known as Bitcoin’s sister. It will be having its own identity. MibleWimble Protocol will be looping in to make Litecoin fungible, private and scalable. Litecoin Confidential Transaction will help mitigate the issues like knowing the history of what the good or commodity has been put to use which has been inherent in public blockchains.
Currently, Litecoin (LTC) is trading at $45.49 with LTC price 0.98% up today. The market cap of Litecoin is USD 2,766,453,344 with 60,641,736 LTC circulating currently. The 24-hour price movement chart indicates that $1,132,538,728 worth of LTC was trading. The price peaked to $46.5821 in the last 24 hours while the lowest price was $44.0431.
There is a possible increase in the value of LTC coin price, which is predicted to increase to at least $230 by the end of this year. The Litecoin price prediction is made on the basis of the fact that it is the fifth largest cryptocurrency in the world.
Litecoin is created by Charlie Lee, an ex-Google employee, to had the vision to create something which is lighter and cheaper than Bitcoin, hence the name. On October 7, 2011, Litecoin was released by an open source client on GitHub. Litecoin is formed from Bitcoin, with similar features and characteristics. So, it is the fork of the Bitcoin. Litecoin is an improved version of Bitcoin will lesser brand awareness.
Litecoin is one of the most under-valued and grounded cryptocurrencies in the world, being in existence for seven years since 2011. Litecoin is more accessible to the people than Bitcoin, hence known as “silver” of crypto world and Bitcoin referred to as “gold” of the crypto world.
With the market being so volatile, predicting the price of the cryptocurrencies is really one of the most difficult tasks.
Let’s consider the publications and personalities, and their statement regarding the LTC price prediction, which will give us a fairer idea:
According to the technical analysis presented by Finder.com, they predicted that by the end of 2019, LTC might reach around $40 and that it is good for investment in the long run. It is around 18% increase if taken from today’s rate, which is $32.
#2 Oracle times
According to Oracle times, Litecoin’s advantages over Bitcoin makes it investment-worthy and it might reach to around $1000 by the end of 2019. They even stated there are other predictions, which says it might reach even $2000 mark.
#3 investing PR
According to investingpr.com, the price of Litecoin might reach $1000 by the end of the year.
#4 George Tung
George Tung, a cryptocurrency analyst predicted that the price of Litecoin might rise as high as $1500 towards the end of the next year.
Kelly, the head of BK Capital Management (LLC) states that Litecoin price might reach $500 by this year end. That’s a conservative approach by the wall street trader. He says it might reach even $600.
Although this is not a bullish time for the crypto space, Litecoin is performing fairly good as compared to its peers. Obviously, most of the credit goes to Charlie Lee, as he finally introduced Confidential transactions (CT) like privacy coins like ZCash and Monero, which will ward off fungibility, scalability and privacy problems. Even the adoption rate is fairly high as very recently Litecoin logo was advertised on the mat of UFC, a famous fight and that helped in grabbing eyeballs. Even a new shopping center in Singapore has installed an atm which accepts Bitcoin and Litecoin.
LTC will maintain its rate at between $150 to $250. November will experience the maximum price for this year, it being $250, after which again it will decrease to $230. Even Litecoin halving is going to take place in August 2019, wherein the block rewards to the miners are going to drop by almost 50%, which might increase Litecoin’s demand exponentially. The rate of getting added to exchanges and merchant adoption is also going to surge drastically upward. Other popular adoptions include Surf Air, operating on the West Coast of US has started accepting payments in Litecoins. Even a supermarket called Oasis in Rio De Janeiro in Brazil has started accepting LTC.
Read more: Get the top and best Litecoin wallets.
As 2020 is expected to turn out to be the most prominent year for cryptocurrencies, LTC also might experience an upward surge. It might start around 250$ where it can reach the 400$ mark in the first quarter. In the month of June, LTC might be $500, after which it might stay onto the 500 dollar mark. By the end of the year, i.e, in December, it decreases a bit and might go to $470.
The Litecoin price prediction is done based on the fact that it is the 7th most valuable cryptocurrency in the world. Litecoin, with its low transaction costs and quick confirmation times, is becoming “the new global payments standard for consumers and businesses worldwide.” It also reassures merchants that costs are likely lower than they thought. The payment processing fees are far less than those incurred by credit cards and other forms of payment and even the integration is free.
As the currency is gaining more popularity, the acceptance ratio might also increase. It is already high as compared to the other newcomers. The price is going to soar pretty high in the year 2022 and 2023, where it can reach the 900 dollar mark. You can convert LTC to BTC from CoinSwitch at best rates.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like KuCoin, IDEX, Changelly, Bittrex, Cryptopia, ChangeNow and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!