Bitcoin Forum

Will the LTC price hit $3 this summer?

We'll use altcoin wide market indices to try to predict LTC price.
 
Let's compare daily charts of LTC/USD (Litecoin, btc-e) and ALT100 index (BTC value).
ALT100 Index is a wide market index (based on value of 100 coins, being traded on Cryptsy).

There are three evident divergences, and all three successfully have predicted LTC price earlier.

http://alt19.com/altcoin_indices_Litecoin_chart.jpg

Now LTC long term trend is still down, but wide market index ALT100 trend is already up.
In 3 previous similar cases of 2015, LTC has followed ALT100 (a chart).

Let's predict that LTC will hit $3 this summer.

Note: there may be another divergence later which would signal to sell LTC.
But now strong BUY (BUY signal has appeared in May when LTC price was flat $1.5, see a chart).

Depends on the price of btc. If its dropping again, ltc will follow. If it found its support and rise, we can also see 5 or 10$ for LTC this year...

Evident idea... But this idea may have many variants, btc price can drop to 200 and find its support there, can rise to 300 and start dropping from that level, etc...

LTC depends on BTC in general, like the whole crypto world, but Litecoin also depends on altcoin investors' sentiment. Litecoin is an altcoin, after all, and altcoins' prices often don't follow BTC (if we don't target very long term period).

I guess LTC will find a new base level compared to BTC and start following again after that. Probably around 0.01-0.012.

The price of bitcoin and litecoin isn't "pink" right now. Bitcoin (and litecoin) is a long term investment, so don't worry, im pretty sure that the price will rise up to 20€ in some time.

Kind of the same thought. LTC will hit $3 on it's way to $5, etc until its value in terms of USD's is irrelevant.

But the OP wants to know if the LTC price will hit $3 this summer, and the by the summer he probably means in a month or two. I think it all depends on what Bitcoin does over the next few months, if it rises then Litecoin might hit $3 and if it falls then so will Litecoin.

Not necessarily. When Gavin jumped ship, Bitcoin dropped in price, but Litecoin rallied because some were worried about the fate of BTC and see LTC as its logical replacement.

It will rise.

when bitcoin was trading at $1000 + Litcoin hit $50 a coin.

why would it not rise?  in the eyes of crypto LTC is silver to btc is gold.

I've always hated that analogy. Bitcoin may be gold, but Litecoin is in the process of losing its status as the #2 coin. Soon it will be Bitcoin is gold and Litecoin is zinc or something like that.

Bitcoin will go through the process of increased block size. Some ppl always like to spread the rumors and dump bitcoin. Never mind bitcoin will reach the consensus and move up again. So is the litecoin.

Are you considering the litecoin reward halving? That makes it worth more after.

losing its status to which coin ? let me guess a low volume ipo/premine coin you hold...

I will sell my LTC only @$100  8)

That is true that LTC rewards halving will matter, and not less - speculations about BTC fork.
That is a good fundamental background this summer.
Still the most important thing I consider altercoin investors' sentiment.
If there is an idea that all coins but BTC are useless, then rewards halving and concerns about BTC will not help to rise.
If there is an idea that all coins but BTC AND LTC are useless, it will not help LTC, either, as a lot of people are buying LTC (and BTC) just to invest them in other coins. Trade volumes of many other coins are pretty large, it shouldn't be underestimated.
It doesn't mean that LTC is just common coin, of course not. But probably words "silver" or "BTC little brother" don't disclosure its nature completely. Litecoin has its own entity, which is closer to altcoins rather than to Bitcoin. Litecoin is an etalon of altcoins (despite of lack of development and lack of modern features), Litecoin is forever, it's classic.

Altcoin indices of wide market and LTC price correlate pretty good over long term.
BTC is above altcoins, of course, its price is more stable and more self-sufficient.

Difficult...its possible, but the question is...when will LTC reach $100

I think 10-15$ is a good realistic price for LTC this year.

I would wait for that moment  :D

If litecoin rises to $3 independent of bitcoin price, then that would be very significant.

Ltc rise to $50 was piggybacked on the $1200 btc rise on that last go around, as was every other alt coins sharp rise.

This time around might be different....their might be some factors at play like the reward halving, btc xt, and the high volume chinese ltc exchanges.

I think buying a few hundred shares of ltc with a wait and see approach might be warranted.

LTC market is very small ........... it can reach $3 again but in 2016.

Man, LTC can be over $3 in a day!  :D

It can happen only if it break 3$ will go over 5 but not more then 10$. Think that is 3 is big obstacle to break right now.

when ltc halves?

If concern increases about a Bitcoin hard fork, you could see a bigger rotation into LTC.

I am not sure who is pumping LTC but it is going to 0.01 soon which is a huge increase over a few months ago.

So, when in your opinion LTC will hit $3?

I think it'll hit this week. huge PUMP !!!

LTC on btc-e is $3.02 now (> +100% since May).

Congrats!

LTC again, for the fourth time, has followed wide altcoin market/altcoin investor's general sentiment (see a chart at the beginning of topic).

There may be some correction to 0.01 LTC/BTC level but there is no sell signal yet.

LTC is just a PUMP n DUMP coin. BTC is the only one true crypto currency

Thank you at least that you haven't said it was me who has pumped LTC :)
$ 14,004,800 volume last 24h

The price of Ltc had a considerable increase in the last days, I will not sell the small amount of money I have right now. I will wait a little longer, maybe one day it exceeds US $ 5

Why would it, LTC does in no way solve the blocksize issue etc, the only coins who do are CN based (Monero, bbr, bcn....) as they have a dynamic blocksizing.
Nor does it fix fungability issues etc, all problems BTC has are 1:1 in LTC, even asics.

I keep getting mixed information about that.

This on reddit claims that LTC max block size is 1Mb, same as BTC:

http://www.reddit.com/r/litecoin/comments/2pwjh6/question_about_block_size_if_litecoin_had_as_many/

This question is asked in github, but not answered directly here:

https://github.com/litecoin-project/litecoin/issues/194

Yet the ltc info isite says it's 250kb, and implies that it yields the same 1mb/10 min that btc would:

https://litecoin.info/Transaction_fees

So .. which is it  ???

TY, I was looking for where max block size was defined while waiting. Pretty sure it's here:

https://github.com/litecoin-project/litecoin/blob/master-0.10/src/primitives/block.h

Seems .info is pretty confused, thanks.

Again Litecoin has followed a wide altercoin market in its correction, a divergence on 1 hour charts...
100 coins index has started to decline earlier and has signaled to sell LTC near its local maximum.

http://alt19.com/alt100btc_1h.png

LTC will hit even 5. We have to just wait for another BTC rally.

Timing is important, too. Better to buy when it is correction.
Probably it is a good idea to put buy orders near 0.0100 LTC/BTC.

I think that this year we will see a price no more than $ 5 for LTC   ::)

Growth for 300-500% is more real then a 3000% one)
Fingers crossed) hope we will see the rise of LTC soon

i think the main reason that litecoin went up in price was that many people paniced because of the Gavin's proposal for bitcoin and feared the future of bitcoin.
as these people cash out their profit from litecoin and come back to bitcoin, litecoin price will go down again.

As always, Manfred puts things as simply as possible. I like my books with pictures!

So when is the next wave and how high should it go? I dont think I fully understand that picture.

Is it the next wave up that we have been seeing the past few days?

It's on a log scale so use your imagination. ;D

My prediction was almost true. The price crossed this mark, but has not been able to keep it  :D

Well i see that the ltc price has become $4.63265243    
and the market cap is $190,244,782.6    

Litecoin blockhalving day is only a month away (08-25-2015) so I think we will have some movements with LTC price soon.

i see some movement in the litecoin market.

what do you guys think is happening and how much can the price go up?

It will go to 10$+ this year  ;)

It will start moving again soon I guess. Will be interesting the coming 2 weeks! :) I think we will see 0.03 again, maybe come close to 0.05.

0.03 would be great, and 0.05 would make me very happy.  :)

Will the rise be depending on a similar BTC rise? Will LTC move up even if BTC doesn't manage to break 300?

Until the halving I think LTC price movements will remain independent of BTC somewhat. After the halving I think LTCs price will find its stability point with respect to BTC and begin following the price of bitcoin more closely as it has in the past.

Halving will only make price stable for now i dont think it will go up for

Most of litecoin holders will be happy if the price will not go down from current level back to 1,6USD.
But if the BTC will fall back to 220-240 or grow above 300 LCT price will be influenced for sure.

Would the current price keep mining profitable for most miners after the halving? Should mining profitability be considered a good indicator of price?

Well people were still mining it when it was ~$2.00, so I would think mining at $4.00 would be profitable after the halving takes place.

think for price to bee around 10$ after halving + or - 1-2$ in range i might be mistaking but that is the price that i see for now