According to a report published by the product comparison website Finder, which polled 42 financial technology (fintech) specialists, the average forecast from the group indicates that the crypto asset litecoin will be worth more than $200 by the end of 2021. Over the last three days, the crypto asset launched by Charlie Lee in 2011 has traded for prices ranging from $175 to $187.
According to the average prediction of 42 Fintech Specialists, Litecoin will reach $266 by the end of 2021.
finder.com polls has recently reported on forecasts for the prices of bitcoin (BTC), ethereum (ETH), and dogecoin (DOGE). For example, according to Finder’s expert panels, DOGE prices will reach $1.21 by 2025 and $3.60 by 2030. In addition, according to another finder.com panel report, 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) found that the majority of panelists agreed that LTC will be worth $266 by the end of the year.
However, due to the rise of a variety of different crypto assets, LTC has fallen out of the top ten market capitalization positions. For at least a decade, the crypto asset was a top ten contender, but it has recently been pushed down by competitors. LTC is currently ranked 14th in terms of market capitalization, with a market cap of $12.53 billion. Finder’s panelists do not believe Litecoin will return to the top ten, and 76 percent of fintech experts do not believe it will.
The Finder’s panel, which discussed litecoin (LTC) predictions, included Sagi Bakshi, CEO of Coinmama, Joseph Raczynksi, a Thomson Reuters technologist, and Dr. Iwa Salami, Senior Lecturer at the University of East London. Litecoin is losing relevance, according to 81 percent of finder.com panelists. However, one person was far more optimistic about LTC than the rest of the panel, telling Finder that his predictions for each year included “$900, $3,000, and $6,000.”
A third of panelists believe Charlie Lee’s Litecoin sale has harmed the coin’s reputation.
Finder received the lowest price forecast for LTC from John Hawkins, a senior lecturer at the University of Canberra, who predicted a price of around $80 per unit. “Litecoin now has little media coverage and appears to offer no advantage over bitcoin,” Hawkins emphasized. Konstantin Boyko-Romanovsky, CEO of Allnodes, predicted that LTC will be worth more than $300 by the end of the year.
“It is very interesting to note that the price of Litecoin does not always appear to correlate with the price of Bitcoin. However, it makes predicting the price of LTC ten years in advance even more difficult,” the Allnodes executive explained.
15% of Finder panelists believe LTC will be in the top ten again by the end of the year. Charlie Lee’s LTC sale, according to one-third of the group, “tarnished litecoin’s reputation.” Nonetheless, some believe that LTC has brand recognition, and Ryan Gorman, co-founder of Trade the Chain, has a bullish outlook.
“Newcomers to the space will continue to trade Litecoin because it is always one of the first crypto assets added to new on-ramps such as Paypal, Venmo, and so on. That built-in support should help it retain value despite being mostly irrelevant,” Gorman observed. The full report, which was published on finder.com, can be found here.