Litecoin price predictions 2020
It’s safe to say that Litecoin has had a turbulent history. What the price developments of regular shares do in ten years, litecoin may do in just a single year. But what will the year 2020 bring for litecoin?
Litecoin in a nutshell
Litecoin has existed since 2011 already. Next to Bitcoin it’s one of the oldest cryptocurrencies out there. Together with ether (ETH) and ripple (XRP), litecoin (LTC) has been steadily positioned in the top ten biggest cryptocurrencies.
Litecoin resembles Bitcoin in many ways, from its protocol to its price movements. The coin is therefore often referred to as Bitcoin’s younger sibling. How cute!
What can we expect from the litecoin price?
The honest answer is: we don’t know. No one knows exactly how the litecoin price will develop. But we can look at past developments and other indicators, in order to formulate some expectations.
At the start of 2017, LTC was worth just 3.77 euros. Just one year later, almost a hundred times as much: 306 euros. Another twelve months later, 2019, and the price is divided by ten: approximately 34 euros. At press time the price is around 50 euros. Check out our litecoin price page for a more detailed overview of the price developments over the years.
You’ll see the price seems to be all over the place. But still, you can recognize some kind of pattern. This takes us back to big brother Bitcoin.
Remember when your younger sibling wanted to do everything you did? Thats kind of how the litecoin price moves. Is bitcoin in an increasing trend? Then litecoin usually follows. Does bitcoin’s price go off the deep end? Litecoin’s price jumps right after it. They seem to be inextricably connected.
Many analysts expect 2020 to be a good year for bitcoin. If litecoin keeps following in its footsteps, 2020 should be a good year for litecoin as well. The all-time high for litecoin lies around 300 euros. Will it be surpassed in 2020?
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What can we expect from Litecoin’s technology?
There’s more to a cryptocurrency then just its price. With regards to the underlying technical aspects, Litecoin takes after Bitcoin as well. But that might be about to change in 2020, when we look at the plans for the project. Will the little sibling grow up and go its own way after all?
Charlie Lee, Litecoin’s creator, has stated he wants to focus more on privacy and fungibility in 2020.
Funga-what, you say? Fungibility refers to interchangeability. When you put two litecoins next to each other, there should be no difference between the two coins. In other words, they should be interchangeable, or fungible.
Crypto coins often seem like they’re already completely interchangeable, but actually, this is not always the case. Picture this: you’ve bought LTC, but these were once stolen from an exchange before they came in your possession. Since all transactions can be traced on the blockchain, your coins may be labeled as contaminated. Even if you have nothing to do with, or know nothing about, the coins’ whereabouts in the past.
That’s a problem Charlie Lee wants to tackle for litecoin. So who knows, your LTC may already be more fungible in 2020.
Lee wants to achieve this by adding so-called Confidential Transactions to litecoin. With confidential transactions it’s possible to hide the value of a transaction. This new function gives you more privacy. The blockchain no longer shows how much you have received on a certain address.
Would you like to know more about the technology behind cryptocurrencies? We recommend you to read our article about the blockchain. There you will find out everything that happens below the surface of coins like bitcoin and litecoin.
2020 will be a great year for litecoin
Exciting things are going to happen for Litecoin, both in terms of price and technology. Don't want to miss out on any of the action? Download the all-in-one crypto app BLOX. Buy, sell, and store your coins, all in one app.
Buying litecoin in four easy steps
BLOX is free to download for your iPhone and Android smartphone. Use the App Store or Google Play and look for ‘BLOX crypto trading’. Or simply click one of the buttons below. Once you’ve downloaded the app, you’re already one step closer to buying litecoin.
Creating an account is really easy; within a minute you’re registered. You can use your personal email address, but it’s also possible to log in with one of your social media accounts.
Fill out your name and email address, and don’t forget to set up a strong password. Read the terms and conditions , and click ‘Accept’. We’ll send you an email as verification, with a link that’s valid for 30 minutes.
Clicked all the clicks? Then you’re ready for the next step!
BLOX is super easy: you top up your credit in your account and pay for it with a bank transfer or your credit card, just like you’re used to. You can buy litecoin directly, using your freshly added credit.
So open BLOX, select the Euro icon, and let the games begin. May the odds be ever in your favor...
BLOX is installed, your account is created, and your credit is charged. Now it’s all up to you: are you going to buy a nice mix of different cryptos, or are you going all-in on litecoin? Whatever you choose, you can do it for as little as 1 EUR.
Select ‘Litecoin (LTC)’ in the Markets section on the bottom left, and check out the price developments from the past day, week, or month. Chosen the right moment for your trade? Click ‘Buy’ and enter your preferred amount.
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The information in this article is not intended as investment advice. Cryptocurrencies are still very volatile, so we urge you to always do your own research before investing. Keep your head cool, and never invest more than you are willing to lose.