LTC is currently trading in a downward channel and looking to test the support level at $69. If this holds, it may be the incentive for bulls to drive the price out of the descending channel. No member of the cryptocurrency market will forget the end of 2017 and the beginning of 2018. That's when all crypto projects saw their prices grow several-fold. Litecoin charts for its first 3 yearsA correction then occurred, and its price changed from $50 to $24 .
Long Forecast's LTC price predictions are not particularly rosy for this decade. They've predicted that the coming years will see LTC's price consolidate a lot within the $100-$160 price range. Their prediction suggests that 2023 may be the best in this decade as LTC may trade to $156 before crashing to $40 in 2026. They predict that LTC will not go higher than $133 and may close the year around $97. It doesn't get much better in 2023 but begins to pick up in 2024 when they expect Litecoin to trade as high as $202.
Sending You Timely Financial Stories That You Can Bank On
A hacker might be able to remain anonymous, but any stolen Litecoins have definite tracking through the blockchain. Once a hack is identified, Litecoin can then return stolen currency to its rightful owner. Litecoin began 2020 in an uptrend that lasted until late February.
Most of them changed their priorities from BTC to LTC and began to buy the 'silver crypto'. From the moment of its creation in 2011 through the end of November 2013, LTC's price changed from $2 to $52. Litecoin has a big user base and significant demand on exchanges. Moreover, it's one of the most popular cryptocurrencies on the darknet. Litecoin’s price is based purely on trading as there is no standard global Litecoin price, so no one knows what it is “supposed” to cost.
Litecoin Market Cap
In January, LTC was valued above $20, but from February on, a downward trend became apparent. By the summer, its price was above $10, but on 15 June 2014, it passed the psychological mark of $10 and, by the end of the year, the price again dropped to $2. The increased block size reduced the possibility of transaction freezes. The number of LTC mined per block will continue to drop by half, roughly every four years, until a total of 84 million LTC has been mined. The most recent halving occurred on 5 August 2019 and the next one is expected to happen on 5 August 2023, when the block reward will be reduced from 12.5 LTC per block to 6.25 LTC.
The exponential growth wasn't sustainable, of course, and the price has declined ever since. Like Bitcoin , Litecoin is also subject to halving events. Halving events happen at predetermined block heights and cause the amount of LTC awarded to miners for each block they mine to be cut in half.
Factors Influencing The Price Of Litecoin Ltc
The Scrypt algorithm simplified the mining process and increased the cryptocurrency's reliability. Before we delve into Litecoin predictions and answer questions such as why LTC may be successful or fail once again, let's quickly review its history, main features and future plans. A variety of different factors affect the price of Litecoin. It has a fixed max supply, so it is not subject to inflation and debasement like fiat currencies. Litecoin’s most recent big surge at the end of 2020 and into 2021 has been in line with larger crypto market and has gained momentum from Bitcoin’s latest bull run.
Increasingly more people prefer BTC as an alternative for fiat money. What's more, BTC is a superior store of value, while LTC is better for quick purchases. For ordinary users, Litecoin is one of the most recognised cryptocurrencies in the whole market.
Elon Musk is quite vocal about cryptocurrencies during events and especially on Twitter. Since he has invested heavily in crypto and is one of the wealthiest people alive, his views seem to drive the... However, there’s also a chance that Litecoin could be overtaken by one of the thousands of new cryptocurrencies trying to break into the market. A partnership with Lightning Network shows great potential, but investors question whether the company will actually live up to this potential.
Litecoin Price Prediction 2018
Nevertheless, the cryptocurrency community began to consider this asset for serious investments. The history of LTC price has had many different influences, including protocol upgrades, exchange listings, and movements in the wider crypto market. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes. It’s impossible to make completely, undeniably accurate price predictions with any kind of certainty – as a whole host of different things could impact future price movements. These include both Litecoin-related events such as updates and halvings and broader crypto occurrences like changes to regulation.
The price peaked in the first quarter of 2020 at $84.50, then declined by more than 65% to set a yearly low at $25. LTC picked up slowly after that but picked up the pace towards the end of the year. In November, it had grown to levels above the previous yearly high set in February and in December, Litecoin traded above $120.
In general, Litecoin has some chances for upward price movement. First, this cryptocurrency is one of the most successful Bitcoin forks. Second, it provides fast transactions, so https://xcritical.com/ many people will use it as a payment system. Third, mining Litecoin is easier than Bitcoin or Bitcoin Cash . If the price for BTC and BCH rises, LTC will be in better shape, too.
It is also known as the 'silver crypto', while Bitcoin is gold. Newbies to the cryptocurrency market may not know that LTC is a fork from Bitcoin and is one of the oldest digital currencies. For many years, LTC was one of Bitcoin's main competitors. Additionally, transfers via the Litecoin platform happen much faster than is usually possible at a traditional bank. Transferring money from your bank to another financial institution could take several business days.
Long Forecast Litecoin Price Prediction For 2022, 2023, 2025, 2030
It's not as easy to interpret the real factors for a coin's rise and fall in the crypto world. This might be due to decentralisation, the complete absence of any regulatory authority or more recognised growth-filled speculation. Its low exchange rate allowed people to buy the necessary number of coins in anticipation of a future price increase. The price of Litecoin has been on an exciting journey in its long crypto history, from being worth $0.30 in 2011 to reach an impressive $340 at the end of 2017. Though it hasn’t managed to reach that high of a price since Litecoin continues to innovate and expand its reach. The inherent volatility of the cryptocurrency market means that surges and crashes are just par for the course.
Litecoin price targets $300 as analyst paints bullish picture https://t.co/UhGMgKCWob
— DemocracyIn News (@DemocracyInn) April 18, 2022
Katy Hebebrand is a freelance writer with eight years of experience in the financial industry. She earned her BA from the University of West Florida and her MA how to accept ethereum payments from Full Sail University. Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial and up to date.
Litecoin Price Prediction 2019
Ethereum is the second-largest cryptocurrency after Bitcoin, with $20 billion in capital and $12 billion every day trading volume. Analysts relied on the information in the chart, so they concluded that a gradual rise in Litecoin's price might begin. They said that it would go slowly and that the price would either fall or rise again. The most positive forecasts showed that Litecoin's price could grow to $370. These benefits attracted the attention of the cryptocurrency community.
- Litecoin’s price at any given time is decided by the balance of supply and demand on exchanges.
- If you're ready to invest in some crypto, consider these affordable options.
- Every day, get fresh ideas on how to save and make money and achieve your financial goals.
- They've predicted that the coming years will see LTC's price consolidate a lot within the $100-$160 price range.
- Its price range is appealing to investors because it continues to prove it can compete in the market, and there is still a lot of room for growth.
Litecoin’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying Litecoin than selling it, the price goes up, and when more are selling than buying, the price goes down. Cryptocurrency is digital money that isn't managed by a central system, like a government. Instead, it's based on blockchain technology, with bitcoin being the most popular one. Litecoin cryptocurrency is set up as a decentralized network.
Find out which cryptocurrencies could be the next to explode in value in 2022. It shows consistency but doesn’t have the type of growth that wows investors. Doesn’t allow edits to transaction records, preventing hackers from accessing the system and stealing currency. Because there are simply so many new projects with better conditions. We'll tell you about our expectations, but let's first look at some forecasts.
This happens roughly every four years and means that the available supply of cryptocurrency becomes scarcer over time. As demand increases, Litecoin can be used as a hedge against currency inflation as its price is bound to go up and there is a maximum supply that can ever be mined. LTC technical analysisThat story is old now, and the price has declined greatly, and for a time, doom was whispered across the crypto market. Things began to look up for LTC when the price rejected a recognised support level around the $100 - $120 region. Since then, the price has tried, with little success, to climb higher.
Litecoin saw a small increase in the spring of 2018, but then it fell to $20. LTC is promoted by the not-for-profit organisation Litecoin Foundation. Today, there are only two full-time developers at this foundation.
The trading volume and liquidity are different for each exchange and those differences are what affects the price. After more than three years of mostly sideways and downwards movement, seeing prices dip as low as $1.30, Litecoin began to grow steadily in the spring of 2017. By December of that year, Litecoin had eclipsed its previous high by creeping up to $100, and then, over a couple of weeks, it shot up another 240% to set a new all-time high around $340. Litecoin has a lower market cap than other cryptocurrencies. It still maintains a strong lead above other cryptocurrency platforms. Bitcoin offers more basic abilities and has been the jumping-off point for other cryptocurrencies that try to improve on what Bitcoin had to offer.
Accordingly, a price pump was carried out on 10 July 2015, and LTC rose to $8 before rapidly dropping down to $3 and then to $2. Analysts say that, in the long term, LTC may see its price increase and reassume its previous rank. If you're looking for a good return in 5 or more years, pay attention to this cryptocurrency.
Renovating your home is a big project that you don't need to make bigger. To save money and stress, learn lessons from these remodeling horror stories. Every day, get fresh ideas on how to save and make money and achieve your financial goals.
Probably the most optimistic forecast yet, DigitalCoinPrice believes that LTC is a great option for long term investment. Consequent years will see a steady price increase for LTC, and $500 may be in view. This is great news for potential investors, and 2022 may be a fine time to get in on Litecoin.