Litecoin Price Prediction as LTC Consolidates at $80 Level – $1,000

Joel Frank

Last updated:

April 19, 2024 at 20:06 GMT+3

| 4 min read

Litecoin Price Prediction as LTC Consolidates at $80 Level – $1,000 LTC Possible? / Source: Cryptonews

As the Litecoin (LTC) price consolidates at the $80 level, some are asking whether 10x gains, or even a rally to $1,000 might be possible this crypto bull market.

Bitcoin (BTC) rallied to record levels near $74,000 last month. At the same time, Litecoin was only able to rally to highs just above $110 this month.

That left it still down around 73% versus its December 2017 record highs at $420. But in light of the latest market dip, the Litecoin price is closer to 80% down from all-time highs.

Compare that to Bitcoin, which was last down by only around 14% since last month’s record peaks. BTC was last changing hands in the mid-$63,000s.

To be fair to Litecoin, it’s not the only major altcoin that remains a long way below record levels.

Solana (SOL) is still down 45% versus its 2021 record peaks. And XRP (XRP) and Cardano (ADA) are down around 85%.

Bitcoin has been able to recover back to record levels ahead of other coins given bullish narratives such as the approval of spot Bitcoin ETFs, the fact that it faces a favorable regulatory environment worldwide, and the growing idea that it is “digital gold” and therefore a great safe-haven asset and hedge against currency debasement.

Litecoin’s Narrative Problem.

Litecoin, by comparison, is suffering from a significant narrative problem. That is to say, while Litecoin has a lot going for it, it lacks narrative momentum.

Litecoin is attempting to position itself as the “digital silver” to complement Bitcoin as “digital gold”. Thanks to its fair launch (a Bitcoin fork) and high level of decentralization, Litecoin is one of the only cryptocurrencies besides Bitcoin that global regulators widely agree is not a security, meaning it also faces a friendly regulatory environment worldwide.

And its blockchain is much faster and cheaper than Bitcoin and able to bare a much higher load.

Despite only ranking as the 19th largest crypto by market cap, LTC is the leader in crypto payments.

But the cryptocurrency’s continued adoption as a medium of payment, its intended use case, is failing to lift its price.

Indeed, on-chain data this week revealed that a record-high 62.5% of Litecoin investors now qualify as...

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