Ben Armstrong is a renowned crypto influencer popularly known as Bitboy. In a new development, Bitboy and his team came up with another market price prediction for Litecoin (LTC ) in the upcoming market rally for most crypto assets. The new forecast suggested an incredible 490% increase in the price of LTC.
Presently on CoinGecko, Litecoin sells for $91.35 and is down 1.2% in the last 24 hours. A 490% increase in LTC price tokens based on the prediction from Bitboy and his team mathematically implies that LTC tokens could skyrocket up to an estimated $540 price mark.
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Ajwritescrypto, one of the team members on the Bitboy YouTube channel, noted that for new crypto investors, Litecoin might not be an option, but still a reasonable option for long-term investments.
Furthermore, Ajwritescrypto ascertained that LTC’s current 72,987,970 circulating supply from a total and maximum supply of 84,000,000 could ascend to a 76,400,000 circulating tokens supply by November 2025.
What’s the Basis of the Analyst’s Litecoin (LTC) Bullish Prediction?
To deduce his prediction for Litecoin (LTC), the analyst used an equation of price equals market cap divided by circulating supply. In his claim, he presented two vital scenarios. In the first scenario, he projected a $48.28 billion market cap, which could see LTC trading at around $630. This also represents a relatively 588% increase from current prices.
In the second scenario, Ajwritescrypto suggested a $517 Litecoin (LTC) price, which requires a $39.5 billion market capitalization.
The team thereby concludes that LTC could surpass its previous all-time high in the next bull run with a price between $500 to $540, representing a 490% surge in price.
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
Read Also: Litecoin (LTC) To Breakout Soon After Years of Accumulation, Expert Analysts Forecast
Litecoin (LTC) Lethargic Growth in Price
Ajwritescrypto mentioned that Litecoin does not seem to be considered an investment option for new crypto traders; this could be because LTC tokens so far remain one of the worst-hit crypto assets in the present bearish market rampage.
Despite a 12% decline already experienced in early May, there is a possibility that Litecoin could drop below the $70 price mark if the bearish pattern persists.
Bitboy’s Previous Assertions
In previous news, Bitboy claimed that one must hold at least 159,000 tokens to become an XRP millionaire. Also, Bitboy predicted a price retracement for Ben coins after a 1000% rally. Bitboy is known widely for many of his predictions. Although some of his predictions come with backlashes from the crypto community members, this hasn’t deterred him from hearing his opinion regarding crypto assets.
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