Nordstrom Rack, a fashion retailer, based in the United States, accepts Litecoin as payment. Interestingly, Nordstrom and has both online and offline stores. So Litecoin holders got a new way to spend their chips. And this will help the foundation in extending its market grip too.
Current Statistics of Litecoin:
- Litecoin (LTC) vs. US dollar is trading at 87.111 USD.
- Against Bitcoin, the crypto is valued around 0.0076588BTC per chip.
- With a return on investment of 1,925.74%, the market rank of Litecoin is 5th in the crypto market at present.
- Additionally, the market capitalization of the digital coin is 5,489,267,952 USD.
- On top of that, the last 24-hour trading volume of the altcoin is 2,854,377,506 USD.
- Again, the total LTC chips circulating in the market, at the time of writing, was 63,020,293 LTC.
LTC to USD Price Comparison:
On July 18, Litecoin (LTC) was trading at 101.633 USD. However, today after 25-days, the altcoin has shown a substantial decline by 14.28%. Similarly, in a week of trading, Litecoin has gone down by 10.94% from the level of 97.853 USD on August 06. Nevertheless, the coin has shown a bit of strengthening in yesterday’s trading where it opened at 85.45 USD and closed the intraday trading at 89.75 USD with a slight bounce-back of 5.03%.
Litecoin Price Prediction:
When compared to other altcoins, the bounce-back in Litecoin is relatively lower, but it has a lot of potentials. Litecoin has been in top 5 cryptocurrencies for a long time. And this can only be achieved by crypto with strong fundamentals. As per our prediction, Litecoin might trade around 150 USD to 200 USD by the end of the year. For now, the immediate support is at 86.46 USD. Additionally, the resistance for the altcoin is at 92.037 USD.
Nordstrom Rack is one of the popular retailers in the fashion industry which sells branded clothes at discounted prices. In that case, the new payment option of LTC at the store will surely result in increased trading volume of the crypto.
Litecoin Forecast and Analysis December 9 — 13, 2019
Litecoin LTC/USD ends the trading week at 44.44 and continues to move as part of the decline and the downward channel. Moving averages indicate a bearish trend, which remains quite strong, prices will continue to push from the area between the signal lines. This indicates continued pressure from sellers. At the moment, we should expect an attempt to continue to decline and test the support area near the level of 39.55. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above the level of 95.05.
Litecoin Forecast and Analysis December 9 — 13, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week December 9 — 13, 2019 will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Wedge» model. Cancellation of the growth option Litecoin will be a fall and a breakdown of the area of 25.05. This will indicate a breakdown of the support area and a continuation of the fall in the LTC/USD rate and a fall below the level of 15.05. Confirmation of the growth of cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 60.65.
Litecoin Forecast and Analysis December 9 — 13, 2019 implies an attempt to test the support area near the level of 39.55. Then, continued growth to the area above the level of 95.05. An additional signal in favor of Litecoin growth will be an uptrend test on the relative strength index (RSI). Cancellation of the rise option will be a fall and a breakdown of the area of 25.05. This will indicate a continued fall in cryptocurrency with a target below the level of 15.05.
Crypto Merchant Processor Pushing to Boost Momentum for Litecoin Payments
The CEO of crypto payment processor Aliant says the company is actively talking to additional professional sports teams about the possibility of supporting LTC.
In a new interview with FOS, Eric Brown says Aliant is pushing to build momentum for crypto adoption in the world of sports.
“We’re talking to a couple of other teams. We figured if we got one team in place, others would follow. We do feel it will be successful in rolling that out.”
LTC was named the official cryptocurrency of the Miami Dolphins in July. Through Aliant, fans can buy raffle tickets using LTC and BTC.
The partnership also grants LTC in-game branding and advertising at the team’s stadium and across its online properties and digital content.
Litecoin creator Charlie Lee says the deal with the Dolphins is part of the Litecoin Foundation’s efforts to bring mainstream attention to the nascent cryptocurrency market.
“This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real-world use cases in ways previously not possible.”
The Litecoin Foundation has also partnered with the mixed martial arts promotion company UFC, the pro sports league GLORY and the K-Pop concert production company, C&U Entertainment Global.
Litecoin (LTC) Price Prediction 2020 | 2025 | 2030 (Update Dec 7th)
Short term price analysis:
Total market cap behaviour
After swift moves down, then up, market has entered a boring sideways action for almost a week.
It all begun as market started losing its ground and tumbling way below $200 billion market cap, it bounced back up to $210 and finally settled at the $200 billion level.
One note: below numbers for total market cap are from Tradingview and has a discrepancy of around $8 billion to CMC data.
The total market cap almost dropped to our predicted zone of $162 billion – it stooped all the way to $170B before bouncing back up (data by Tradingview). In the jolt up, market touched on the $205 billion zone and bounced off it to another low at $191 billion before getting comfortable at the current $198 billion.
Right now, it is heading to its resistance of $205 billion, a Fib382 zone that already proved to be sturdy level as the price tried to crack it on November 28th and 29th.
I would argue that total market cap chart is the most important one to pay attention to as it is a leading force and direction picker for all coins, bitcoin included.
As you can see below, Fear & Greed Index is back in the fear zone, nearing the extreme fear area. It is still very possible that we actually do drop another $30 billion of value before we can talk about an actual reversal.
LTC/USD Price Analysis
Below is our analysis from 10 days ago, which is still active in our eyes. LTC hasn’t moved much from the level it was back at the end of November.
It is a historical fact in crypto universe that no individual coin can do much on its own. Majority of cryptocurrencies, no matter their market cap size are just minnows of bitcoin that bend the way the wind blows.
Litecoin is right now sitting at its big support line at $47.60. This is a zone LTC has been levitating around for the last 10 days.
It is still far away from its safe zone which is $20 above – at Fib786 and $64 in value.
- major support: $42.20
- major resistance: $64.50
- sideways actions most likely scenario for the upcoming days
Below is a brief summary of top Litecoin news of the last month:
- there were no major news around LTC in the last 30 days.
Below is our long-term Litecoin price prediction for 2019 and beyond.
What is the Litecoin price prediction for 2019 to 2025? Will crypto silver prove to be a long-term investment and step out of Bitcoin’s shadow? An assessment of the current and future market situation for Litecoin (LTC).
In order to make a meaningful Litecoin prediction, the basic facts should be known. Litecoin was first introduced in October 2011 as a fork from Bitcoin on GitHub. A week later the network finally went online. The founder of Litecoin Charlie Lee, is a former Google employee who was fascinated by the idea of Bitcoin. As a fork, Litecoin has a lot in common with Bitcoin, but also differs in some important points:
- Block time is about 2.5 minutes
- Hashing algorithm Scrypt
- Modified, user-friendly GUI
With a total of 84 million litecoin coins (LTC), the upper limit is significantly higher.
Litecoin price prediction: the decisive factors for price development
There are many arguments that can influence the price of a crypto currency in the future. As a fork, Litecoin has to compete mainly with Bitcoin in terms of performance and growth potential. In the Litecoin forecast, the following points suggest that the price will rise in the long term:
- Litecoin has become one of the preferred crypto currencies of the dark web. An estimated 30% of all transactions on the dark web seem to be processed through Litecoin. LTC is thus denying Bitcoin a lucrative market. The reason why the Dark Web seems to be moving away from Bitcoin is mainly because Litecoin is not only faster but also cheaper. In this respect Litecoin is still superior to Bitcoin.
- Due to the Scrypt PoW algorithm Litecoin is easier to mine. The mining process can be easier in Litecoin than in Bitcoin (although this concept is controversial) because the new Proof of Work algorithm is used.
- As a former Google employee, Charlie Lee embodies for many the image of a reliable, competent person. The fact that he quit his job at Google to devote his full-time time to the Litecoin project made many investors confident in the past. Lee even retired from his position as Coinbase’s technical director in favor of Litecoin.
- Litecoin enjoys great prestige in China. This is very good for Litecoin’s forecast as the Chinese market is the largest potential user pool in the world.
- All hardware wallets support LTC. This is an important point when it comes to increasing broad acceptance and trade volume.
- In the past, Litecoin has been comparatively resistant to bear markets. This shows that the crypto currency stands on solid legs.
With all the positive points to be said about Litecoin, the potential risks should not be neglected either. Because there are some arguments why the Litecoin forecast could be unfavourable in the long run:
- Now that Bitcoin has also introduced SegWit, Litecoin lacks one of its crucial competitive advantages. Many Litecoin users have been waiting ever since for Litecoin to integrate a new technology or to distinguish itself from Bitcoin in some other way.
- Litecoin has a tough time as Altcoin and Bitcoin-Fork. With Bitcoin, it has an overpowering opponent that seems to overshadow the entire market. It may take some time until Litecoin can establish itself properly and finally step out of the Bitcoin shadow. There is also Bitcoin Cash that Litecoin also has to compete with.
- The LitePay scandal of 2018 caused the Litecoin hype to collapse temporarily. Litecoin announced on February 26, 2019 that it would introduce its own payment processing system, but had to backtrack a short time later and stopped all efforts in this direction. Many Litecoin investors were disappointed and LTC lost value. Although the price (LTC price) seems to be recovering, this event shows that a Litecoin forecast must take such unexpected events into account.
Litecoin price prediction 2019 – 2025: is a long-term investment worthwhile?
As shown above, there are many points in favour of an LTC price rise. But what does this mean for the long-term Litecoin price prediction? The following is an overview of some analysts’ assessments and forecast calculations:
- Cryptoground: Based on an internal deep learning algorithm, it is assumed that LTC will reach US$ 136.52 in one year. This corresponds to a price increase of almost 19%. This growth is expected to continue. In exactly five years, i.e. in June 2024, the price for 1 Litecoin will be 398.72 US$. This means that the value of an investment at today’s price would increase by around 247 %. The platform can even give an estimate for 2025. According to the algorithmic forecast, 1 LTC will cost US$437.92 by this time.
- CryptoInfobase: In contrast to Cryptoground analysis, the factors mentioned above are used as the basis for this forecast. However, the trend is similar here. However, the long-term growth potential is estimated to be significantly higher. It is assumed that Litecoin will experience two major price jumps in 2020 and 2025. While Litecoin will close the year 2019 with 60 US$, it will increase significantly in value in 2020. This year, LTC will rise to US$320. The Litecoin forecast for 2025 assumes a price of 950 US$ for 1 LTC.