Home / Litecoin Price Predictions / Litecoin Price Forecast and Analysis
Litecoin Price Forecast and Analysis

Litecoin Price Forecast and Analysis

By Gaurav S. Iyer, IFC Published : September 21, 2017

Will Litecoin prices fall below $50.00?

That’s probably the most important question for the short-term Litecoin price forecast, but it’s unlikely to matter over the long haul.

Long-term forecasts depend on underlying factors that investors are ignoring, such as Litecoin’s ability to popularize micropayments or its ability to affirm its role as the “silver to Bitcoin’s gold.”

That’s what the market should be focusing on.

Instead, investors will scramble over yesterday’s 1.81% downtick in the Litecoin to USD exchange rate, wondering what it means.

litecoin price chart

It means nothing, except that some Chinese investors are unwinding their positions before Litecon to yuan trading ceases for good. Does that mean Litecoin is still overpriced at around $51.63?

The answer to that question depends on your time horizon because it’s possible that LTC prices will swing lower over the next few weeks. However, increased trading volumes from South Korea suggest that Litecoin will find adequate support.


Exclusive Free Report: 

Click here to get free access of our exclusive report on Why Bitcoin is Headed to $10,000?

All this week, a Korean exchange called Bithumb was the most active exchange for trading Litecoin. It singlehandedly accounted for 22% of all LTC transactions.

However, overall trading volumes continued to fall, marking a September low at $160.3 million.

To see the last time fewer than $200.0 million worth of LTC coins changed hands, you’d have to go back to August 26.

On the upside, BTC dominance fell from 48.2% to 48.0%, suggesting that China’s impact is starting to fade (because crypto investors flock to Bitcoin during times of crisis like regular investors flock to gold).

Analyst Take: 

I like that BTC dominance is starting to fall, but don’t expect smooth sailing for Litecoin prices—it is going to be a bumpy ride.

My guess is that we’ll see a pattern of quick, fast rushes to the upside followed by a dramatic sell-off. There’s no mystery to it. As I said above, some Chinese traders want to exit the market, so they’ll try to squeeze an extra profit before they do.

Beyond the end of October, though, we could see a return to common sense. If we’re extremely lucky, the market might actually price LTC based on Litecoin news, rather than its current formula of investor expectations and panic.

Wouldn’t that be a novel idea?

Also Read

Litecoin Price Prediction 2018: Is Litecoin Potential Higher Than Current Counterparts?

Litecoin Price Prediction: LTC to End 2017 at $200

Source link

Check Also

Litecoin price (LTC/USD) surges past $200, as crypto recovery takes off

Litecoin price (LTC/USD) surges past $200, as crypto recovery takes off

The Litecoin price (LTC/USD) has seen vital positive factors on Friday, amid indicators that the …