What's Next For Litecoin in 2020?

Litecoin is a peer-to-peer cryptocurrency. It is an open-source software project released under the MIT/X11 license, which means that it places only very limited restrictions on its re-use. Litecoin is, in many ways, similar to Bitcoin, as it's also considered a digital currency and a digital payment system. Additionally, Litecoin encryption techniques are used for two critical features:

  1. To regulate the generation of Litecoin units
  2. To verify the transfer of funds and secure transactions


What's Next For Litecoin in 2020?

Litecoin offers faster confirmation: The Litecoin Network aims at processing a block every 2.5 minutes, rather than Bitcoin's 10 minutes rate, which its developers claim allows for faster transaction confirmation. A distinct drawback is the higher probability of orphaned blocks.
Litecoin uses a different hashtag algorithm: Litecoin uses scrypt in its proof-of-work algorithm - a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.
The Litecoin Network will create more coins: Litecoin will produce 84 million Litecoins or four times as many currency units in comparison with what will be issued by the Bitcoin Network.

The first half of 2019 has started off favorably for Litecoin investors with prices pushing back significantly above the psychologically relevant barrier at 100 USD. But over the second half of the year, the cryptocurrency gave back most of those gains, nevertheless still holding more than 60% above its yearly opening price as of November 2019.

Still, the sequence of falling highs and lows over the last months would continue with a sustainable break below 46.50 USD, darkening the technical outlook for the cryptocurrency further.

A sustainable break lower continues the sequence of falling highs and lows, leaving Litecoin vulnerable to as low as 22 USD, the region around the 2018 yearly lows, as a next target on the downside in 2020.

In fact, this bearish outlook is probably even more true with Litecoin being said to account for a huge chunk of transactions in the 'Dark Web', continuing to suffer at the hands especially of US regulators.