Litecoin has been in the spotlight recently when founder Charlie Lee talked about crypto mass adoption, addressing the missing piece for the achievement of this colossal goal.
During a brand new interview with the Wharton School of the University of Pennsylvania, Lee said that practical utility would be the factor that delivers digital currencies to the masses.
There have been more predictions this year about the price of BTC, and the other digital assets and more of them have been bullish.
LTC surged above $90 during the April bull run
The price of Litecoin (LTC) managed to rise above $90 during the first week of April when the bulls took over the crypto market after many months of a bearish trend.
There has been an LTC price prediction coming from UToday which said that LTC might drop as low as $50 before the bulls gather enough momentum for a surge.
Now, Smartereum addresses the issue as well, analyzing whether after such a fall LTC would be able to recover.
The online publication writes that months before LTC halving, the price of the coin has been bullish against the USD.
“One of our Litecoin price predictions 2019 placed the price of Litecoin as high as $650 by the end of May. Because we are now in the last week of April and the price of Litecoin is not even above $100, the chances of the $650 Litecoin price prediction happening are low,” Smartereum says.
The Kondratiev wave
The online magazine says that Litecoin usually follows the Kondratiev wave.
This reportedly means that there will be a price surge, but the price of the digital asset would have to drop significantly before it’s able to surge again.
So, they assume that if this is a correct prediction, then the price of LTC will need a strong correction to the $50 level in order to gather enough momentum to surge significantly against the USD.
They continue the assumption saying that the good news is the fact that the coin will definitely surge higher after it hits a low of $50.
Smartereum says that high-risk traders can wait until then to buy LTC.