Litecoin Price Setup Still Bullish

Litecoin price, just like other leading cryptocurrencies, had a rough time this week. Ethereum price dropped as low as 287 USD, Bitcoin traded above 5800 USD to shed almost a 1000 USD in less than 48 hours. The question remains the same, for Litecoin and for other leading Cryptocurrencies: Is it a Bubble? Will Cryptocurrencies survive the wave of regulatory concerns? and if they do, which ones are likely to survive?

The answer to this question was shared in our first Ethereum forecast, and again in our initial Litecoin forecast: As long as they have an intrinsic value, Cryptocurrencies will survive. Below are some excerpts from both forecasts:

From our Ethereum price forecast, this remains our answer to the Cryptocurrency Bubble:

The price of Ethereum is not moving ‘accidentally’ higher. There are several coins in cryptocurrencies universe, not all though, that are moving strongly higher. That is really a result of supply/demand dynamics. And here is the biggest news: this trend only got started. Are we saying that a bubble could develop over time? Yes that’s what we are saying, but not anytime soon yet.  Ethereum price forecast.

The exact same thing can be said about the price of Ethereum or Litecoin not moving ‘accidentally’ lower. In fact:

In other words, cryptocurrencies are being bought and sold in this world, transactions take place, so they are on their way to become mainstream. Ethereum price forecast.

When we forecasted Litecoin price reaching 60 USD target, we said the following

For now, we foresee Litecoin hitting $60 in 2017 early 2018 with the possibility of a retrace that could happen either before or after the target is met. How Litecoin delivers value and solidifies its intrinsic value will be key to exceeding that target and that’s what our research Team will be watching closely.

We also mentioned

Hence why we think that even with a good vision and solid code, Litecoin needs to differentiate themselves for more upside. As of now, Bitcoin is the authority, Ethereum has the Technology and Litecoin needs to find its “Niche”.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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