One of the popular analysts, Ben Armstrong, recently drew attention to the altcoin Litecoin (LTC). In particular, Armstrong’s team, known in the cryptocurrency space as Bitboy, sets a price of $500-540 in LTC. Here are the details…
Analyst expects bullish for popular altcoin LTC
Ben Armstrong and market analysts made price predictions for Litecoin (LTC) in the upcoming bull market. Based on market cap and supply analysis, the Bitboy Crypto team predicts that Litecoin (LTC) could rise to $500 to $540 in the upcoming bull market. Ajwritescrypto, a team member on the Bitboy Youtube channel, was the one talking about Litecoin. He claimed that while Litecoin is not favored by meme coins and new crypto enthusiasts exploring leveraged trading, it has long attracted the attention of investors.
Welcome to the weekly Price Prediction Department with @Ajwritescrypto! We're going to be exploring Litecoin. And at the end of this video, I'm going to give you my exact price prediction for Litecoin at the top of the next bull run! ☎️ https://t.co/fCb5ZopqbK pic.twitter.com/CUzTzGMVRl
— Ben Armstrong (@Bitboy_Crypto) May 23, 2023
Considering Litecoin’s current price of $91 and a circulating supply of 72.9 million out of a total of 84 million tokens, Ajwritescrypto made a calculation. He estimated that around 76.4 million Litecoins will be in circulation by November 2025. The analyst used a simple “price=market cap/circulating supply” equation to predict the future price of Litecoin. He then presented two scenarios. In the first scenario, a market value of $48.28 billion is envisaged. The result is a Litecoin of $631. This marks a 588 percent increase from the current price.
Analyzing the price charts, Ajwritescrypto suggested the $517 level for Litecoin in the second scenario. This requires a market cap of $39.5 billion for LTC. This second estimate represents a 464 percent increase from Litecoin’s current value. Ajwritescrypto acknowledged the possibility of Litecoin reaching new highs. On the other hand, he emphasized that the coin gradually lost momentum over time. He stated that LTC is not on the agenda like other tokens.
Will Litecoin break records?
Ultimately, the Bitboy crypto team expressed optimism that Litecoin could surpass its previous all-time high during its next bull run. He set a price range of $500 to $540 as an estimate for LTC’s peak value. This marks an average increase of 490 percent. It is remarkable that Bitboy and his team have made a detailed prediction about a coin for the first time.
Last week, as we reported on Kriptokoin.com, crypto analyst announced that Cardano (ADA) predicted three scenarios for its future price. He stated how many Cardano tokens an investor must have to become an ADA millionaire. Prior to this, Armstrong argued that crypto investors should own 150,000 XRP to become millionaires in the future. This set the XRP price prediction at $6.7 in the future.
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