Several predictions are circulating regarding the price that Litecoin (LTC) could reach during 2021.
These are often optimistic forecasts, imagining a higher price than the current one.
The point is that the all time high price reached by LTC is still that of December 2017, when it briefly exceeded $360. Given that all major cryptocurrencies have now made new all-time highs above those reached during the great speculative bubble of late 2017, there are many who believe that sooner or later Litecoin might do so too.
Currently, the price is hovering around the $250 mark, which is well below its 2017 high.
However, in the last 12 months, it has grown by 465%, although this is less than other cryptocurrencies, such as Bitcoin (+600%) or Ethereum (+1,300%).
So it is not so strange that several analysts have predicted the price of LTC to grow further from current levels.
Litecoin price predictions
One can more or less sum up the various forecasts in a range between $300 and $600 by the end of 2021, and in all cases at a price above the all-time high of the end of 2017.
Obviously, there is no certainty that this will happen, but given that various predictions point in this direction, the bullish scenario is the one considered most likely by many analysts.
Among the bullish forecasts, the most conservative is that of Trading Beasts, according to whom, by the end of 2021, the price could reach close to $300 again, but then aim for close to $500 by the end of 2024.
Another similar forecast is by DigitalCoinPrice, according to whom the price could rise to around $378 by the end of 2021, but could reach $466 by 2022.
Other forecasts see $600 as the next mark.
LongForecast, for example, envisages a range between $565 and $724 by the end of the year but followed by a decline in 2022. Primexbt, CoinPedia and CoinQuora also envisage $600 as the price of LTC by the end of 2021.
While many analysts believe that the price of Litecoin could rise in the medium term, some believe that it could fall in the short term. In other words, there is more consensus about growth in the medium term than there is about the next few days or weeks, during which, according to several analysts, the price may not enjoy a particular upward thrust.
Finally, it should be noted that even the most optimistic average predictions do not give a price higher than double the current all-time high by the end of the year.
The post Litecoin price prediction: between $300 and $600 by year-end appeared first on The Cryptonomist.