Litecoin is one of the decentralized cryptocurrencies. It appeared in 2011 as an attempt to make transactions faster. Since LTC is a very popular crypto, a lot of people are keeping an eye on how the Litecoin price is changing. It is a well-known fact that the cryptocurrency price is hard to predict. However, we would like to share some analytics with you to help foresee some possible moves.

According to TradingBeasts, we can see the following information about the Litecoin price  (as of 16/06/2020):

Minimum LTC price for 2020: $30.895
Maximum LTC price for 2020: $50.133
Average LTC price for 2020: $38.422

Mid-year LTC price prediction
Minimum LTC price expected: $34.091
Maximum LTC price expected: $50.133
Average LTC price expected: $40.107

Year-end LTC price prediction
Minimum expected: $30.895
Maximum expected: $45.433
Average expected: $36.347

TradingBeasts, 16/06/2020

Here is what Litecoin price prediction we get based on the WalletInvestor (as of 16/06/2020):

Average LTC price for 2020: $126.322

Mid-year LTC price prediction
Maximum LTC price expected: $68.825
Average LTC price expected: $22.911

Year-end LTC price prediction
Maximum expected: $77.549
Average expected: $32.215

WalletInvestor, 16/06/2020

According to DigitalCoin, we see the following picture (as of 16/06/2020):

Minimum LTC price for 2020: $57.1
Maximum LTC price for 2020: $69.81
Average Litecoin price for 2020: $62.98

Average mid-year Litecoin price prediction: $61.4
Average year-end Litecoin price prediction: $58.8

DigitalCoin, 16/06/2020

The next resource making LTC price prediction we would like to check is Longforecast (as of 16/06/2020):

Minimum LTC price for 2020: $29.27
Maximum LTC price for 2020: $49.94
Average LTC price for 2020: $39.12

Mid-year LTC price prediction
Minimum LTC price expected: $35.74
Maximum LTC price expected: $49.22
Average LTC price expected: $42.48

Year-end LTC price prediction
Minimum expected: $31.47
Maximum expected: $39.07
Average expected: $35.27

Longforecast, 16/06/2020

The algorithm of Crypto-Rating predicts that the Litecoin USD price will be (as of 16/06/2020):

In 6 months: $60.61
by January 1, 2021: $53.29

Crypto-Rating, 16/06/2020

According to the experts from Cryptoinfobase, Litecoin should be seen as an addition to Bitcoin. Thus, when BTC grows, LTC grows too. Since the Bitcoin price is expected to grow in the near future, we may say that the LTC price will follow.
Since Litecoin does not make its purpose to attract users with innovative solutions, the popularity of LTC does not depend on new product development. In 2020 LTC is expected to have a good pump, similar to the one it had in 2017.

CoinInfoBase, 16/06/2020

The next Litecoin price prediction is from Coinpriceforecast (as of 16/06/2020).
From the beginning of the year, the LTC price showed a 7% growth. 
The middle of the year: $48.05
The end of the year: $58.01 (increase by 32%)

Coinpriceforecast, 16/06/2020

Also we would like to share Charlie Lee’s opinions on LTC price development.


Charlie Lee

The founder of Litecoin, Charlie Lee, seems to be very relaxed about the future of LTC. In Off The Chain Podcast with Anthony Pompliano, he says: 
“People always ask me if I think the price will go up or go down. If anyone tells you they know, they’re lying, right. No one knows if the price will go up or down. So the bear market … I’ve seen a few bull and bear markets … I’ve seen it where you think the bear market is over and it drops even further. And also sometimes it recovers and it actually doesn’t come back down. Who knows. I think it’s good we’ve seen some recovery, but don’t go, like, all in. I tell people never to go all in.”

We can see that unlike some other cryptocurrencies the price of Litecoin depends on fewer factors. The reason is Litecoin does not provide any additional services, it is not a platform, it is only a means of payment. On the other hand, we see a strong correlation between the LTC price and the BTC price. Thus, if BTC is expected to grow, we also can expect an increase in the LTC price.

Thank you for your attention to this topic. SimpleSwap would like to remind you that this article has informational purposes only and does not provide advice on investment. You are the only one responsible for making investment decisions.