In continuing our analysis of the Cryptocurrency Predictions for June 2018 report by Finder, we turn to the team’s predictions for Litecoin.
We have recently reported that by Finders calculations, Bitcoin will only just breach $14,000.00 by the end of the year, a similar depressive sentiment also rings true for the teams Litecoin projection.
The team is made up of 10 experts, all of whom have well cemented jobs within the Fintech and blockchain industry. Therefore, these predictions come with good authority. Of course, we aren’t saying these findings are conclusive, of course, the team could be wrong, and they know that, but, when such prolific figures make such bold statements, I think it’s pretty important that we take the time to consider what they are saying, especially when they outline an outlook as gloomy as this one.
You can see the full report for yourself, here-
According to Finder, Litecoin is expected to move up to a value of $130.17 by the 1st of July 2018. This is an increase of 8% from Litecoin’s recorded price on the 30th of May 2018. By the 31st of December 2018, the team believe Litecoin will be valued at $149.00, up 23% from the May figure.
$149.00 is not an impressive figure for Litecoin, given that it has a far more impressive all time high of $371.03, as recorded at the end of December 2017. It does seem that a lot of investors have bought into Litecoin when it’s value slipped between $200.00 and $300.00, therefore this current projection for the end of 2018 sits as a depressive finding at best.
We should also consider that at the time of writing, Litecoin is valued at $93.86, down 11.23%, slipping past $100.00 for the first time since the cryptocurrency boom at carried Litecoin up to over $300.00 last December.
Here’s what some of the experts had to say, according to the Finder report:
"Litecoin has taken a beating over May, but I expect it to make a small recovery by 1 July. The team behind Litecoin is solid, and I'm excited to see how it will handle future competitors."Joseph Raczynski:
"People still have some faith it LTC. I'm watching it, but I'm not as sold on it in the short term as some of the others in the Top 10."Craig Cobb:
"LTC has been sitting in a range between US$100 and US$166 (roughly) for most of the year. I see no reason at this point in time for that to change on the charts."
Of course, these experts don’t think that all hope is lost for Litecoin, instead, it just seems that historically, Litecoin has been very undervalued and that the low prices we see today, will eventually become the norm for Litecoin. This isn’t a bad thing as actually, in terms of adoption, proving an air of stability will take Litecoin a long way. For investors though and those who bought in late, it’s really important you analyse this report and draw your own conclusions from it.