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It was a rough year for Litecoin fans, with the price of LTC dropping 85% from Jan. 1, 2018, to Nov. 29, 2018. But just like with any bear market, we could see Litecoin prices rebound in the next year.
That's why we had to make sure you saw the latest Litecoin price predictions for 2019.
The lowest price target on Finder.com for Litecoin in 2019 is $40. From today's (Nov. 29) price of $33.68, that's a potential gain of just 18.76%.
However, there's one LTC price prediction for 2019 that is so bold, you won't believe it until you see it.
We're going to share that prediction in just a minute.
But first, we're going to answer some of the most common questions we've received about Litecoin heading into 2019…
Why Did Litecoin Prices Drop in 2018?
As we mentioned earlier, the cryptocurrency market is bearish right now.
Litecoin prices have dropped right along with Bitcoin, Ethereum, Bitcoin Cash, and XRP.
One of the reasons for the bearish sentiment is Bitcoin ETFs were rejected by the U.S. Securities and Exchange Commission (SEC). Crypto investors were hoping an ETF would lure new money into the market, according to Money Morning Cryptocurrency Expert David Zeiler.
"A Bitcoin ETF would help bridge the gap by allowing these large investors to gain exposure to Bitcoin without the hassle of owning it outright. At the same time, it will open the door to a class of investors whose presence will help fortify and stabilize the Bitcoin markets," Zeiler said on Sept. 17, 2018.
Stunning: New innovation will be like "adding twin turbos to the Bitcoin engine" – and could send its price to $100,000. Learn more…
But the SEC isn't ready for a Bitcoin ETF, which means cryptocurrency investors still have to wait for new money to hit the market.
Also, high-profile hacks of cryptocurrency exchanges in the past year have undoubtedly made investors fearful of using exchanges and storing crypto.
As of July 4, 2018, $731 million worth of cryptocurrencies were stolen from crypto exchanges in the first half of 2018, according to CCN.com.
The Japanese cryptocurrency exchange Zaif was hacked on Sept. 19, 2018, and $59 million worth of crypto was taken.
Finally, the massive run-up of crypto prices in 2018 was so astounding that the market needed a cooldown.
BTC prices traded for $963.66 on Jan. 1, 2017, and climbed 1,364% to $14,112.20 by Jan. 1, 2018. LTC prices climbed even higher, trading for $4.33 on Jan. 1, 2017, and reaching $231.67 on Jan 1, 2018.
That's an astonishing gain of 5,250%.
Early crypto adopters cashed out their profits and became multi-millionaires.
But now that prices have plummeted back to earth, we're getting a lot of questions about whether Litecoin is a good investment to make in 2019…
Tags: cryptocurrencies