Litecoin forecast for 2020
Litecoin, which is considered by many as the “silver” of crypto industry is a currency that was designed as a cheaper and lighter Alternative to Bitcoin. It is not intended to compete with the leading digital currency, but as an Alternative for smaller and simpler transactions can be. It is one of the oldest crypto-currencies, which was developed in 2011 and is one of the most important. After the bear market of the season 2018, the Litecoin began-to show a course of strong signs of a recovery, and in the first half of the year 2019. In this article, we assess the medium – and long-term prospects of Litecoin. Don’t miss our technical and fundamental analysis, which will give you some ideas to Lite coins in the future forecasts for the year 2020 is.
Litecoins future for 2020
The history of the credibility of Litecoin goes back several years. It was one of the first projects in the cryptographic area, and is one of the few that has remained in the face of adversity strong. So Litecoin is like for years out of the Top 10 of CoinMarketCap and has kept its market capitalization to an adequate level. It is fully compatible with the Bitcoin API and has been tested as the first of several new technologies such as the Lightning Network, and the separate Token solution. In this way, Litecoin is in a way a pioneer in several technologies.
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His philosophy, the industrial added value to give, rather than to compete, has to the success of this project contributed. After we have started in 2019 on the right path and to become one of the most profitable Alternatives on the market (LTC won in the first few weeks of the year, more than 60%), the future of Litecoin always rosy. The managing Director is Charlie Lee, who had in the early days of Coinbase, the Board continues to be actively involved in the project and has explained in a series of Tweets that the developments in Litecoin are still on course. Despite the recovery, the Altmünzen suffered in the second half of the year, in 2019, a number of setbacks, as it will be in the year 2020?
The main reasons for the future growth of Litecoin in the year 2020
The Following are some of the arguments that might speak for a continuation of the upward trend of this crypto-currency in the year 2019. Keep in mind that other technical and external elements (e.g., legislation, macro-economic data, etc.) could weaken the upward trend, therefore, it is crucial that we pursue in our analysis, news, and technical indicators to keep an eye on.
- The development team behind Litecoin is one of the strongest in the industry. The LTC-Blockchain has been the implementation of several new technologies used today in the industry play a decisive role. Her Director, Charlie Lee, is one of the most influential people in the industry.
- The network of Litecoin is much more efficient than Bitcoin and thus the ideal Alternative for smaller operations. The blocking time is reduced to 1/4 of the BTC.
- Although there is no official timetable, has assured the Director of the LTC in several Interviews the last time, that he is working directly to make the LTC fungible. This Plan would include the future involvement of private transactions in the network.
- The halving of Bitcoin will reduce the rewards for the mine workers by 2020. These periods are often surrounded by positive movements of Bitcoin, which sometimes are in other similar Altmünzen such as the LTC to reflect.
- More and more payment processors to take LTC in its range of digital Assets.
- In emerging seasons, as of 2017, the performance of Litecoin was better than his counterpart.
Litecoin Technical analysis and possible scenarios (2019-2020)
First, it is important to clarify that the below technical analysis on the 20. December 2019, was executed. How Litecoin develop in the future cannot be predicted, but we can take a look at the most important indicators. One of the factors we use can, the earlier historical record, the maximum levels of up to 420 USD marked and several important support and resistance zones attracted. Our below technical analysis is used only as a guide for our readers and should not be taken as financial advice considered.
As both currency pairs in their behavior, we will investigate the price of Litecoin against the US Dollar (LTC/USD) to Bitcoin (LTC/BTC). Both pairs have a considerable volume of trade and are on multiple financial platforms available.
LTC/USD: Important observations and areas of interest
Technical analysis Litecoin against the Dollar (LTCUSD) for the 20. December 2019. Coinbase with the Trading View Tool analyzed.The graph shows some interesting elements, which should be carefully followed:
- It is important to mention that we have carried out a study with relatively large time intervals (1 day) in order to assess medium-term scenarios.
- The bullish market buy Litecoin since the beginning of 2019, what will the price increase in the first half of the year is clear. The bullish channel has been broken in July, and Litecoin entered a clear downward Trend, which is defined by the Fibonacci diagonal, and the decline in the guideline in the highs (red dotted line) well. This is exactly one of the references, if you are looking for an outbreak.
- In addition to the FIB Levels that we will discuss below, the LTC/USD chart very well, the moving averages (MA50, MA100, MA200) as a S/R Level. For the date of Analysis, all corresponding to the mean resistance level, before you touch the clearer areas.
- A look at the Fibonacci Retracements shows that the first level, which is to be recapitalized, corresponds to the Retracement of 23.6%. He is about 59 USD and is one of the most important factors when looking at the “overall picture” is considered.
- If the cops did not gain strength, could Litecoin the lows of 2019 ($22 USD) , where a large volatility was observed. There is a further medium S/R-level in the vicinity of $40 USD.
- The interest rates bullish Outlook smolder at $83 the average value of a quantity of interest bullish/bearish fights. This is before the psychological resistance of $ 100 is touched, the Fibonacci technically, with USD 102 referred to.
- If you have more strength, are the cops the 150-Dollar mark to reach, and then, in our study, the High-test: 182 USD.
- At the time of the publication of the Index the relative strength from oversold level is recovering. The bearish trade would be exhausted, but there are several elements of confirmation are required before the current Trend can be reversed.
LTC/BTC: Important observations and areas of interest
Technical analysis of Litecoin vs. Bitcoin (LTCBTC) for the 20. December 2019 Binance analyzed with a trading viewAnother Couple of great opportunities of the Litecoin vs BTC price is; however, he is acting even more volatile and more difficult, which is why we recommend adequate risk management.
- The intervals are also 1 day. It is clear that we are on the lowest level since December of 2017, in a for Litecoin crucial support area. Support levels below the current are lost in our graphics and in the history of the Binance from the field of view. If we use the data of Poloniex consult, we can see that the next important support level on 0,00444 BTC is.
- For the date of the analysis on which this article was written, it touches the RSI is important oversold levels. If the cops use the opportunity and purchase interest, you will be on a first resistance level, with a volatility to 0,00680 BTC moves. Then the bullish side would have to the downward trend line (pink dotted line) to break through.
- From then on, the levels are less accurate, and therefore, we have selected several areas of interest. The three rectangles in the graph represent significant resistance or S/R-values in the history of the LTC.
- One of the most obvious is about the psychological range of 0.01 BTC.
Other technical Considerations and projections for Litecoin
- LTC-Minima in the last year: This crypto-currency fell last December to about $ 22. His all-time lows in terms of Bitcoin will be recorded in the current days (December 2019).
- Historical highs for Litecoin: Litecoin was one of the highest earned crypto-currencies, during the financial boom in the 2017 season and has recorded highs of over 420 dollars. The BTC reached in February 2018 with the 0.025 BTC a peak. If there is a large interest bull starts of the rally, you should keep these levels in mind.
The analysis of the characteristics of the two diagrams shows that Litecoin is approaching critical areas for its future. Here, the bulls need to penetrate with force in order to reach a final reversal of the trend, which could determine the behavior of Litecoin in the year 2020. Therefore, it is important to monitor the price actions and the reaction to the in the preceding sections mentioned levels.
Expert forecasts about the future of Litecoin
In the Following you can find experts and enthusiasts to predict the future price of Litecoin (LTC), some of which are very different and all highly speculative. Do not let this LTC price predictions a Hype cause, or their prospects change dramatically. Remember that the market for crypto-currencies relentlessly volatile, prices may rise with large fluctuations and fall. You will therefore analyze this information and make their own perception and analysis.
The YouTube channel “Raiblocks Forecast” predicts that the price of Litecoin will be until the end of 2020 712 USD:
Longforecast.com is a site that specializes in the provision of long-term financial forecasts using technical analysis. According to this site, is the price forecast of Litecoin for the year 2020 between 17,43 and 33,02 dollars. On this Website, the balance sheet is corrected so down.
The Twitter Account of the uslifed group anticipates that the currency will reach by the end of 2020 910,84 USD:
Top 3 Possibility #Litecoin Price Prediction | #LTC Future Forecasthttps://t. co/BMzUio278h
— uslifed (@uslifed) June 5, 2018
Other predictions after the bear time
- The economy forecast Agency is more conservative. On her Website she explains that Litecoin, in the future, a bullish Performance would have sets but a maximum value of 129 dollars in the year 2020. This would be a more realistic perspective, if there is in the coming months, a lot of movement.
- In the meantime, the coins witch-Portal, a 400-Dollar-forecast for the year 2020 starts. But not everyone has a bullish Outlook; however, the automatic projection site wallet investor indicates that LTC could fall in the year 2020 to 5.3 dollars. None of the above-mentioned media, however, is highly reliable, or as a financial institution registered.
- One of the few serious studies that we lately have seen, was of the sati group carried out. According to the analysis, the estimate for LTC is bullish, but mild. It is expected that it will be 2020 about 65 USD and 2021 to rise again, where he would reach 165 USD. Over a period of 10 years (2028) estimates that Litecoin is traded for $ 225.
This is a good time to invest in Litecoin?
At the time of writing this article, it is very difficult to answer this question. The future of Litecoin will be determined by your current behavior, because it will test whether she is able to continue the support and to overcome Resistances, which are for a recovery key, which would change the current decline consistently. Litecoin (LTC), however, proved in the first half of the year 2019, as one of the most powerful cryptographic Token, the stabilized, and a very significant recovery achieved.
What these forecasts say about the future of Litecoin?
You have come to the conclusion that Litecoin is a serious project that should not be overlooked. Although they are overshadowed by the Hype of the new crypto-currencies, return of the leading digital currencies often go there, where they belong. Thus, LTC took over the 4. Position in the CoinMarketCap, back used the lost ground and returned to the spotlight. At the time of this writing, Litecoin is the market capitalization to 7th place.
The value brand also proved to be one of the fastest-recovering digital currencies in the first half of the year 2019. This strengthens the confidence of investors, initially set to the more traditional and solid crypto-currencies. However, LTC is now in a not-too-optimistic market with a new resistance faced. It is therefore crucial to monitor its price constantly, in order to find the best opportunities, and keep in mind that good risk management can improve the results of our investment significantly.