Litecoin’s course could follow Bitcoin’s course and its momentum again in the coming weeks.
Litecoin remains one of the best-known and most respected cryptocurrencies twelve years after its creation. It is considered Bitcoin’s “little brother”, and tends to grow very parallel to Bitcoin.
The Litecoin course has seen a moderate increase in 2023 so far. At the end of the year 2022/2023, the price of Litecoin was $70. Litecoin has lost more than 80% since its all-time high of $412. Especially in the first weeks of 2023, the LTC price was able to rise considerably. By mid-February, the rate had risen back to $100.
In the weeks that followed, the price fell more sharply again. In March, the price of Litecoin rose again more strongly after the banking crisis. In recent weeks, however, the price has fallen towards the turn of the year. Due to the last bearish days, the rate fell back to $77. Therefore, the Litecoin forecast for the end of 2023 is somewhat uncertain at this time.
Why Was the Rise of Litecoin Only Moderate?
The Litecoin price usually follows the Bitcoin price movement very closely. There may be phases where Litecoin rises faster than Bitcoin. In other phases, the Litecoin rate falls much lower.
In a bear market like the current one, Litecoin falling more sharply than Bitcoin is typical. This also explains why the Litecoin price was only able to rise by around 10%, while the Bitcoin price is still up 80% in 2023.
What is the Litecoin Forecast for the End of 2023?
The Litecoin forecast for the end of the year should look quite positive despite the losses of the last few days. Litecoin’s course could follow Bitcoin’s course and its momentum again in the coming weeks. The Bitcoin course should see a bull run again in the next few weeks.
If the Bitcoin price experiences a bullish summer, the Litecoin price could see an equally strong rise as well. A bull run like the one in January and mid-February then seems likely.
How High Can the Litecoin Price Go?
If the Litecoin forecast for the end of the year is basically bullish, the question arises as to how much the price can go up by December. A bullish summer should push the price of Litecoin well above the $100 mark.
In the second half of 2023, it depends a lot on whether the uptrend continues towards the end of the year or if there is a downtrend again towards the end of the year. In the comparison year of 2019, there was a bullish summer, but a bearish end of the year. At first, a price of $200 for Litecoin seems possible, but this price is not seen in the forecast yet.
The Litecoin forecast points to a range between $120 and $170 by the end of 2023.
According to CryptoPredictions, Litecoin started in May 2023 at $88,724 and is expected to end the month at $67,340. During May, the expected maximum price of LTC is $99,283 and the minimum is $67,340.
Additionally, the LTC price for today (09.05.2023) is forecast to be in the price range of $69,430 – $102,103. Litecoin price is forecast to end today at $81,682.
By Audy Castaneda
