The product comparison website Finder has published a report that polled 42 financial technology (fintech) specialists and found the average forecast from the group indicates they believe the crypto asset litecoin will be worth more than $200 by the end of 2021. The crypto asset launched by Charlie Lee in 2011, has been trading for prices between $175 and $187 over the last three days.
Average Prediction Among 42 Fintech Specialists Say Litecoin Will Tap $266 by the End of 2021
In recent times, Bitcoin.com News has reported on forecasts concerning the price of bitcoin (BTC), ethereum (ETH), and dogecoin (DOGE) via finder.com polls. For instance, Finder’s expert panels suggest DOGE prices will hit $1.21 by 2025 and $3.60 by 2030. Additionally, another panel report from finder.com shows experts believe ether’s value will reach $4.5K this year and $18K by 2025. The Finder panel with 42 fintech candidates that discussed litecoin (LTC) shows most panelists agree, LTC is predicted to be worth $266 by the end of the year.
However, since the rise of a number of different crypto assets, LTC has lost its place within the top ten market capitalization positions. The crypto asset was a top ten contender for at least a decade but in recent times it has been pushed down by competitors. Today, LTC rests in the 14th position in terms of market capitalization with a $12.53 billion market cap. Finder’s panelists don’t believe litecoin can make it back into the top ten and 76% of the fintech experts think that it won’t.
The Finder’s panel, that discussed litecoin (LTC) predictions, included Sagi Bakshi the CEO of Coinmama, Joseph Raczynksi the technologist from Thomson Reuters, and the University of East London Senior Lecturer, Dr. Iwa Salami. 81% of the finder.com panelists say litecoin is losing relevance. However, one individual was a lot more bullish toward LTC than the rest of the panel, and told Finder that his predictions for each year included “$900, $3,000 and $6,000.”
A Third of Panelist Think Charlie Lee’s Litecoin Sale Tarnished the Coin’s Image
John Hawkins, the senior lecturer at the University of Canberra, gave Finder the lowest price forecast for LTC and his prediction is around $80 per unit. “Litecoin now has little media profile and seems to offer no advantage over bitcoin,” Hawkins stressed. The CEO of Allnodes, Konstantin Boyko-Romanovsky, said that LTC will be $180 by the year’s end and worth more than $300 by 2025.
“The price of Litecoin does not always seem to correlate with the price of Bitcoin, which is very interesting to observe. However, it makes it even harder to predict LTC’s price 10 years down the road,” the Allnodes executive said.
15% of the Finder panelists think LTC can make the top ten again by the year’s end. A third of the whole group said that Charlie Lee’s LTC sale “tarnished litecoin’s reputation.” Still, some believe that LTC has brand recognition and the co-founder of Trade the Chain, Ryan Gorman’s outlook is on the bullish side.
“People new to the space will continue to trade Litecoin because it is always one of the first crypto assets added to new on-ramps like Paypal, Venmo, etc. That built-in support should help it continue to gain value despite being mostly irrelevant,” Gorman remarked. The report published on finder.com can be read in its entirety here.
What do you think about finder.com’s litecoin prediction panel? Let us know what you think about this subject in the comments section below.
via Jamie Redman
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