With the crypto market being invaded with numerous new currencies, even more attention goes to the assets with already imposing history. One of those coins is Litecoin, a crypto created on Bitcoin-based protocol. But unlike the king of crypto, Litecoin offers faster transactions and lower fees, thus becoming more suitable for micro-transactions and point-of-sale payments. Read our Litecoin price prediction to see how will LTC price change in the future.
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Litecoin Fundamental Analysis
Litecoin (LTC) is an early fork of Bitcoin and one of the first altcoins, launched in 2011 by Charlie Lee — an early Bitcoin adopter and Google employee. Litecoin was intended to be a “lighter” version of Bitcoin and is very similar to the pioneer crypto otherwise.
Litecoin is primarily used as a currency, namely a payment method, as it came into existence before the advent of smart contracts and more complicated use cases. It’s a mineable coin, using Proof-of-Work consensus protocol to release the supply into circulation. The most convenient way to describe Litecoin is by comparing and contrasting it with Bitcoin.
- Litecoin has a hard cap of 84 million coins, while Bitcoin is scarcer — only 21 million of those will ever exist;
- Litecoin’s block confirmation times are much shorter — 2.5 minutes as opposed to BTC’s 10 minutes, making it easier to use in everyday transactions;
- Litecoin uses Scrypt cryptographic algorithm in its Proof-of-Work protocol instead of SHA-256, which is utilized by Bitcoin. Scrypt is less suitable for mining with specialized equipment like ASICs, which, in theory, makes it more accessible for the “ordinary” miner.
Those features make Litecoin nimbler than Bitcoin while keeping pretty much the same level of security and decentralization; note that the rest of the code is mostly unchanged from the original. Overall, Litecoin is one of the most trusted and frequently used cryptocurrencies on the market, ranking in the top-20 by market cap.
Litecoin Live Price Chart
From the beginning of 2021, LTC started to rally, initially trading for $135 and rising to $171 in a week. It kept growing for the next 3 months. The first significant milestone was achieved on February 19, when the asset hit $236. By the end of the month, though, the token slipped back to $165.
After the market correction, LTC crypto started to climb new heights. At the same time, on March 30 the asset started being accepted on PayPal and it boosted the token’s price. In just a little more than 2 weeks, Litecoin grew 63% with its price reaching $311 on April 30. The following slump pulled the asset’s price down to $233 but didn’t disturb the uptrend.
From April 25 LTC began to gain the value back and on May 20 managed to break the $400 price barrier, reaching the all-time high of $412. It was corrected to $385 right after, but couldn’t stabilize the position even at this level. LTC coin continues to steadily lose its value.
With the sudden turn of the crypto market towards bearish tendencies, the LTC price also crashed to $156 in May 2021. During the upcoming summer months, the coin was in a downtrend, falling as low as $107 in July. The situation started to get better for the coin in August, but even with the LTC price chart going up, the asset couldn’t reach even half of its highest price.
In October the token finally broke the resistance level of $180 and started to go up. For three weeks it was showing bullish signals and traded around $170. On November 18 it hit $278 and shortly after continued to decline.
By the end of the year, the asset lost in value even more and was traded between $142 and $165. As the crypto market wasn’t stable at the beginning of 2022, LTC also didn’t perform very well and continued to fall. In mid-Jan, LTC managed to recover to $151 and then crashed to $112 and has been bearish ever after.
Currently, Litecoin's price is around $100-$103 and stays bearish. Though analysts expect to see the effect of the recent Mimblewimble protocol update. Many market analysts think that the token won’t dip anymore and might go bullish again when the market tendencies flip once again. At the same time, as Litecoin's price is rather stable and its team is not planning a new big announcement coming, we can’t expect the price to skyrocket in the nearby future.
Litecoin Technical Analysis
From late July until mid-August 2021, Litecoin has been trading inside the ascending channel, indicating pressure from both bulls and bears. In August, there was a small correction, when the LTC price went from ~$185 to ~$165.
From the technical analysis standpoint, this dip may turn out to be the first part of a double bottom pattern. This is a possibility because Litecoin’s price went up after that to test the resistance line and failed. As of late August 2021, LTC's price has been going back down. If the trend line reverses after touching the same ~$165 level, this double bottom may mean considerable growth in Litecoin price's future.
Litecoin Price Prediction
Litecoin Price Prediction for 2022
Litecoin Price Prediction for 2023
Litecoin Price Prediction for 2024
Litecoin Price Prediction for 2025
Litecoin Price Prediction for 2030
As it can be clear from the analysis cited above, Litecoin (LTC) projections are rather contradictory. There is no universal consensus either about positive or negative future LTC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Litecoin projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
What is the future of Litecoin?
The future of Litecoin is bright, according to most Litecoin future predictions. Since Litecoin has proved itself to be a reliable investment that has high growth potential, there’s no reason for it to fall out of use any time soon.
What is the long-term forecast for Litecoin?
The long-term forecasts for Litecoin mostly agree in their high Litecoin value projections. For example, there are several Litecoin price predictions for 2025 putting the coin above $2000 at that point. Even the conservative estimates predict Litecoin hitting at least $1000 in the next decade.
What happened with Litecoin (LTC)? Will it rise again?
Litecoin (LTC) crashed together with the crypto market in May 2021. It has been rising again since July this year, albeit slowly. Most Litecoin projections agree that it’s going to rise much more in the foreseeable future, so to answer the question, Litecoin is alive and well.
Will Litecoin go up in 2021?
Yes, Litecoin will probably go up in 2021 — or, rather, it has been going up for some time already. Several 2021 price predictions for Litecoin put it at $200–$300 by the year’s end; compare this to the lows close to $100 in the middle of 2021.
What are Ethereum and Litecoin predictions 2021-2022?
Most Ethereum and Litecoin predictions for 2021–2022 expect both of them to grow by the end of 2022. In the short-term those coins’ prices may go through some volatility. However, even those Litecoin price forecasts that predict a decline in 2021 are positive overall — same as the Ethereum ones.
Will Litecoin survive in the long run?
Yes, Litecoin will probably survive in the long run — it’s one of the most well-known coins out there, with strong fundamentals. It might not necessarily be a rocket to the moon, but none of the Litecoin value projections suggest that it won’t live long.
Is Litecoin a good investment for 2021?
Yes, Litecoin is a good investment for 2021, according to numerous Litecoin future price predictions. In the long-term, the coin is expected to grow quite a lot. For example, some Litecoin predictions for 2025 estimate it will grow as much as 10x in the next five years. This would mean fantastic returns for those who decide to invest in Litecoin.