Litecoin Price Analysis and Prediction: LTC Over $70 By August End?

Litecoin Price Analysis and Prediction: LTC Over $70 By August End?

Read our in-depth analysis on Litecoin Price Analysis and Prediction

The price of Litecoin has been surging in the last 24 hours. Even on the last 7 days chart, there was a big surge in the price of Litecoin which took the value of LTC to over $64. However, after trading close to $65, the price of LTC retreated and it went below $60. The trading volume of Litecoin crashed and the overall recommendation for LTC was Sell.

The last 24 hours have been fruitful for Litecoin. There has been a surge in the price of Litecoin and currently, it is once again trading close to $60. Here are the few things that have been working in favor of Litecoin and have contributed to the rise in the price of Litecoin:

  1. The social media sentiment for Litecoin in the last 24 hours has been positive. The social media buzz is higher.
  2. The Google search volume for Litecoin is higher indicating more people are interested in Litecoin.
  3. The overall market cap of Litecoin has surged in the last 24 hours.
  4. The technical indicator for Litecoin is favorable and it has now changed to BUY from SELL.
  5. However, one concern for Litecoin would be the declining trading volume. If the trade volume remains lower, the price of LTC may crash again.

Litecoin Price Analysis and Prediction: Market Cap

Value
Market Cap$ 4.18 B
Trading Volume$ 458 M

Litecoin Price Analysis and Prediction: Some Calculations

Current Price of Litecoin (August 4th)$59.04
Market Cap of Litecoin (August 4th)$4.18 B
If Litecoin Rises 5% Monthly, then the Price of LTC at end of 2022?$75.35
If Litecoin Rises 10% Monthly, then the Price of LTC at end of 2022?$95.08

Litecoin has a very positive outlook for the rest part of 2022 provided the market remains positive. Even if Litecoin rises 5% a month, it will be over $75 by the end of 2022 and it LTC manages to rise around 10% a month, the price of LTC could be around $100.

Litecoin Price Analysis and Prediction: Some Predictions

Litecoin Price Prediction 2022

Max Prediction
Average Litecoin Price Prediction 2022$77.02

Litecoin Price Prediction 2025

Max Prediction
Average Litecoin Price Prediction 2025$70.14

Litecoin Price Analysis and Prediction: Latest Twitter Discussion

TA Godson on Twitter: “$ltc future plan can be like this!! #ltcusdt 🚨Join our discord group(link in bio) for more 🚨 pic.twitter.com/4PvUNXiJ9j / Twitter”

ltc future plan can be like this!! #ltcusdt 🚨Join our discord group(link in bio) for more 🚨 pic.twitter.com/4PvUNXiJ9j

Litecoin A Video Analysis

YouTube video

What is Litecoin?

Litecoin is a P2P (Peer-to-Peer) cryptocurrency that can be used for payments to anyone from anywhere in the world. Litecoin is said to be the lite version of Bitcoin and was designed to make fast transactions in contrast to BTC’s goal, which was to make secure transactions. LTC is currently accepted by more than 2000 merchants. The primary benefit or feature of using LTC is effectiveness and efficiency, in terms of cost and time.

Litecoin YTD Chart

Pumps and Dumps in LTC in the last 2 months

  1. Dump: May 23 to May 27 – Price falls from $73.29 to $61.55
  2. Dump: June 8 to June 14 – Price falls from $65.04 to $40.94
  3. Pump: June 19 to June 20 – Price rises from $42.14 to $55.15
  4. Dump: June 26 to July 5 – Price falls from $60 to $48.37
  5. Pump: July 13 to July 20 – Price rises from $47 to $58

Reasons for the Pumps and Dumps

  • The development and upgrade of the Litecoin platform with the implementation of the MWEB system which is supposed to make Litecoin transactions more secure may have pumped the price of LTC
  • When the news of LTC losing more than $1 Billion in market cap started making the rounds, the investors started to panic and rushed to sell their tokens (Near June 14)
  • The rise near June 20 was due to the overall rise in the cryptocurrency market when BTC rose 6% and ETH rose 11% and so on.

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