- Bitboy’s team is forecasting a potential surge of up to 490% for Litecoin (LTC) in the upcoming bull market, predicting a value between $500 to $540.
- Crypto analytics firm Santiment expects Litecoin (LTC) whale activity to drive LTC’s price upward before the impending LTC halving.
Bitboy Predicts Bull Market Surge for Litecoin
Renowned crypto influencer Ben Armstrong, better known as Bitboy, and his team of market analysts are predicting a substantial surge in the value of Litecoin (LTC) in the forthcoming bull market. Team member Ajwritescrypto emphasized the enduring appeal of Litecoin for long-term investors, even as newer crypto enthusiasts gravitate toward meme coins and leverage trading.
Considering Litecoin’s current price of $91 and a circulating supply of 72.9 million out of a total of 84 million tokens, Ajwritescrypto estimated that around 76.4 million Litecoins would be in circulation by November 2025. Utilizing a formula where the price equals market cap divided by circulating supply, the analyst predicted two potential scenarios for Litecoin’s future value. The first scenario envisioned a market cap of $48.28 billion, equating to a Litecoin value of $631, or a 588% increase.
A second, more conservative scenario proposed a Litecoin value of $517, necessitating a $39.5 billion market cap and representing a 464% increase.
However, Ajwritescrypto noted Litecoin’s dwindling momentum, citing that the coin hasn’t made headlines like other tokens. Despite this, the Bitboy team remains optimistic about Litecoin achieving new highs in the next bull run, predicting a peak value of $500 to $540, marking a surge of 490%.
Anticipated Litecoin Whales’ Activity Before LTC Halving
Crypto analytics firm Santiment is predicting a surge in Litecoin’s price driven by whale activity ahead of the impending LTC halving, which will reduce the number of new coins issued to miners by half. The firm notes a rapidly ascending trend in Litecoin’s on-chain volume, which they believe will favorably impact the price if it continues.
Santiment suggests that the growing number of unique addresses interacting with the Litecoin network is a positive sign of big players investing in anticipation of the halving. The firm also hinted at a possible price hike above $100 before the occurrence of one final dip. The report further implies that trading volumes may slow in the near term but are likely to pick up again around mid-June, as traders anticipate the upcoming event.
The LTC halving is scheduled for approximately August 10, 2023. At the time of writing, LTC is trading for $91.48.