Based on market capitalization and supply analysis, Bitboy’s team predicts Litecoin (LTC) could surge to $500 to $540 in the upcoming bull market.
Yet again, the prominent crypto influencer Ben Armstrong, also known as Bitboy, and his market analysts have made price predictions for Litecoin (LTC) in the upcoming bull market.
Ajwritescrypto, a team member in the Bitboy Youtube channel, asserted that while Litecoin may not be the go-to choice for new crypto enthusiasts exploring meme coins and leverage trading, it still commands the attention of long-time 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 estimated that around 76.4 million Litecoins would be in circulation by November 2025.
The analyst used a simple equation of price equals market cap divided by circulating supply to predict Litecoin’s future price, presenting two scenarios. The first scenario projected a $48.28 billion market cap, resulting in a $631 Litecoin. This would mark an increase of 588% from the current price.
Analyzing price charts, Ajwritescrypto suggested a $517 for Litecoin in the second scenario, requiring a $39.5 billion market cap. This second forecast represents a less ambitious 464% rise from Litecoin’s current value.
While acknowledging the possibility of Litecoin reaching new highs, Ajwritescrypto also highlighted the coin’s gradual loss of momentum over time, indicating that LTC has not been making the news like other tokens.
Ultimately, the Bitboy crypto team expressed optimism that Litecoin could surpass its previous all-time high during the next bull run with a price range of $500 to $540 as a prediction for LTC’s peak value. This marks a 490% surge.
Notably, this is not the first time Bitboy and his team have released a detailed prediction about a coin. Last week, the crypto influencer envisioned three scenarios for Cardano (ADA)’s future price, which featured how many Cardano tokens an investor needed to hold to be an ADA millionaire.
Before that, Armstrong argued that crypto investors need to hold 150,000 XRP tokens to rake in $1 million on their XRP investments in the future. This put his XRP price prediction at $6.7 in the foreseeable future.
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