The world is going through a paradigm shift as cryptocurrencies stand at a decisive phase that will define their future.The same holds for Litecoin, which has been tumultuous as world politics are transforming the markets.Litecoin’s blockchain system came to the market as the facilitator of payments via the internet.Others like Bitcoin served the same purpose, but this one had some additional pros.It reduced the confirmation time, increased the transaction speed, and brought other additional features to make the transactions easier to handle.
Also Read:
• Litecoin Mining: A Complete Guide
• Litecoin Mining Software: All You Need To Know
Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, also known as MWEB, which allows the network’s users to opt-in to confidential transactions.MWEB lead developer David Burkett, who has been sponsored by the Litecoin Foundation, said the upgrade improves Litecoin’s viability as a fungible currency that can be used for everyday transactions, pay employee salaries and even purchase real estate.
How will MWEB affect Litecoin’s price? Let’s observe as this scenario develops.
Today’s Litecoin price is $72.15 with a 24-hour trading volume of $444,681,405.Litecoin is up 4.21% in the last 24 hours.
The current CoinMarketCap ranking is #18, with a live market cap of $5,075,051,519 USD.It has a circulating supply of 70,336,819 LTC coins and a max.supply of 84,000,000 LTC coins.
Is Litecoin silver to Bitcoin’s gold? There are many sides to this controversy so let’s take a look at the whole tapestry of Litecoin developments and its potential for inclusion in your crypto portfolio.
[7 Litecoin Price Prediction 2022 – 2030]
What is Litecoin?
Dubbed “the cryptocurrency for payments,” Litecoin is a virtual currency that seeks to facilitate payments over the internet.Forked from the bitcoin blockchain in 2011, Litecoin was born to enable instant payments, something that Bitcoin was unable to do due to its slow transaction confirmation times.
Litecoin has been through considerable fluctuations that impacted its market.2018 to 2022 shows that it went through several challenging phases.
This time, as the issue of the Ukraine-Russia conflict, is at its peak, the future of crypto seems to be a question.If there are no restrictions on the crypto market and its transactions, crypto will grow faster than expected.In contrast, if the opposite happens, it will affect the market because the main motive of this market is decentralization.
Litecoin’s bearish reversal pattern is emerging when inflation in the United States has surged to a three-decade high, prompting investors to seek a hedge across various financial instruments.
For instance, the most actively traded gold futures lately posted to its best week in six months, jumping 2.9% to $1,868.50 per troy ounce, after the U.S.Labor Department reported an increase in the consumer price index (CPI) by 6.2% year-over-year.
That marked the fifth-straight month of inflation above 5%.
Litecoin has been one of the beneficiaries of the Bitcoin rally in past months, with its one-year correlation efficiency with Bitcoin standing at 0.71 above zero.
Dubbed a bull pennant, the bullish continuation pattern appears when the price consolidates sideways inside a triangular structure after a strong rally upward.Traders confirm a bullish breakout when the price breaks above the triangle’s upper trendline with strong volumes.
Litecoin Founder
Charlie Lee developed Litecoin in 2011 as a lightweight alternative for Bitcoin.His vision was to create an altcoin with lightning transaction speeds and one favorable for miners.
Lee, an ex-Google engineer, announced the launch of the coin via the Bitcoin Forum.
He and other developers claimed their main intention was to build the Silver for Bitcoin.Both BTC and LTC coins share the underlying concept of Proof of Work.
Note: The proof of work ecosystem means that a digital coin is mined for creation, authentication, and verification.
Upon which the coin is added into a blockchain or a decentralized public ledger.
Both Litecoin and Bitcoin share a few similarities.These include how the coin is created, stored, and mined.All the processes are similar but differ on the grounds of efficiency.Litecoin was created from a soft fork; rather than a hard fork.
So what’s the difference between a hard fork and a soft fork?
A hard fork is a complete transformation of a blockchain’s protocols and rules, making old rules invalid and unworthy.A soft fork upgrades with new protocols that make software robust and backward compatible.
Litecoin Overview
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|LTC||$ 72.04||$ 5.07 B||3.47%||70.34 M||$ 340.52 M|
Benefits of Litecoin
– Solve scalability – Charlie Lee and his team of developers thought BTC would face long-term performance problems if its blockchain technology would grow in traffic.And as a result, it introduces a plague of scalability issues, bottlenecks, and increased network fees.Litecoin is focused on delivering a highly sophisticated and scalable blockchain.
– Boost performance speed – Litecoin is designed to be lightweight and fast.
Its development was a challenge to Bitcoin’s block size and the 10 minute block confirmation time.The developers wanted to change how performance is affected by scalability and solve such problems.
– Relatively low transaction fees – we’ve seen the scalability issues affect both Bitcoin and Ethereum.Lately, both blockchains have been bleeding users as a result of high transaction fees.The high fees result from network congestion caused by increasing traffic.
One of Litecoin’s core visions was to introduce lightning-fast transactions that were also cheap.The cost of transactions on the Litecoin network depends on block size as well as the size of the transaction.
– Confidential transaction to boost network privacy – Litecoin’s developers are betting on building core privacy features to strengthen anonymity.The developers are planning to implement MimbleWimble to create single-chain transactions that are entirely obfuscated from third parties.
– Cross-industry integration – Litecoin aims to increase its network and native coin adoption through the open software concept.
Various merchants have already implemented the blockchainVarious merchants have already implemented the blockchain, accepting the currency for payment, gambling, or art.
Litecoin Technical Analysis and Price History
Let’s go down in history and look at what entails the coin’s history to make a reasonable litecoin price forecast.
Litecoin price 2013 – 2016
Litecoin was trading at a daily price of $4.34 against the USD on its launch date.The price change was a downward correction towards $1.50 and remained within that price level until the wake of the initial Bitcoin bull run.
More and more people began to join the cryptocurrency market.The price of Litecoin and other altcoins followed in the bull run and spiked upwards.In 2014, Litecoin managed to hit a market price of $44 per piece.
Their stay above $40 was short-lived, and the coin came crashing downwards by 50% to $20 within a month.Throughout 2014, the cash crushed further and began trading within the single dollar range.
The coin created a lower bottom at $1.28 and then corrected to $4.
A price range that it traded until Q1 of 2017.
Litecoin price 2017 and the bull cycle
There was newfound energy all around the cryptocurrency market at the beginning of 2017.Significant Price surges and BTC hit an all-time high of $20,000.
Litecoin, on the other hand, started from $4 and skyrocketed to $375 by the end of 2017.
The key driving factors for crypto markets were injections by retail investors and congestion of newbies driven by FOMO during the bull market.
The price surge was spectacular.And most LTC price prediction analyses indicated all green.
In December of that year, Charlie Lee Twitter his decision to leave Litecoin.He said he would continue making network improvements and that his exit would not affect the market.
In the tweet, he explained he need not tie Litecoin to financial success.
From hence, LTC was going to survive on its own.
Litecoin price 2018 – 2022
The bull run began to fade through the start of 2018.It wasn’t a good year for Litecoin, BTC, or other altcoins.The cryptocurrency platform became saturated with hacks, then ICO scams, and Litecoin (LTC) price drop below $200 was inevitable.
It hit $74 by the end of June.
In December, Litecoin declined further and hit $23.After which, it ushered 2019 with a gradual uptrend that lasted until mid-July where LTC was trading at $141.
The first half of 2019 saw a positive bullish performance for Litecoin.But heading into the third and fourth quarter, the altcoin slumped into a descending channel that formed lows between $35 – $42.
Finalizing 2019, Litecoin began an upward trend between October and November.This uptrend hit $59 by the 1st of 2020.
In the wake of the Covid-19 pandemic, the cryptocurrency market was trading sideways, and there were heavy plummets across all coins.
Litecoin traded below $70 for the better part of 2020 since March, until around December where it ended at a maximum price of $136.
So far, the number of Litecoin addresses has grown by a 6-8X rate since 2020.
This number of Litecoin addresses might keep growing in the future due to the cheap transaction fees of the network.Also, the numbers indicate the likelihood of a growing trading volume.
Litecoin Use Cases
– PayPal and other large institutions might adopt Litecoin as the infrastructure for payment processing/transactions.
– In the long run, the dollar is going to the trash.Stores won’t accept cash.
Soon banks won’t either.Your bank balance will be based on crypto in the back-end while it will say it’s in USD.There is a lot of noise [here] .
– Litecoin moves into these main supports established and initially bounced a little within as we go to press.Now, these levels are critical to holding and, if they have, will determine the further destiny of Litecoin.
– In this case, when Litecoin manages to hold the supports and stabilize above to build up with bullishness, further stabilizations with the proper continuations can be expected above the descending-resistance-line marked in my chart in black.
– Litecoin will close in the bullish stabilization zone and continue with further bullishness when it approaches above this line.
Grayscale currently holds over 1.44 million Litecoin ($248.33 million), making it the firm’s third-largest crypto holding after Bitcoin and Ethereum .The firm is one of few services in the US that allows accredited and institutional investors to purchase cryptocurrencies.
Where and how to buy Litecoin (LTC)
– The first step is signing up on a cryptocurrency exchange.There are three types of cryptocurrencies exchanges, significant exchanges, decentralized exchanges, and peer-to-peer exchanges.
– So many trading exchanges exist in the crypto market.
Examples of significant exchanges are Binance, Coinbase, Kraken, among others.These exchanges allow you to purchase cryptocurrencies using either fiat or other cryptocurrencies.
– Standard payment methods include PayPal, debit/credit cards, etc.Sign up at either of these and purchase your first Litecoin (s).
– Decentralized exchanges allow users to purchase and trade digital tokens.We wouldn’t recommend a DEX when buying Litecoin.
– You can trade digital coins with other traders within the Peer Peer cryptocurrency exchanges platform using respective local payment methods.An excellent P2P exchange that supports Litecoin is LocalCrypto.com.
– The platform, like most P2P exchanges, supports only a few types of coins.
Local crypto supports Litecoin, Dash, BTC, and Ethereum.You can exchange your coins with other platform users such as BCH, BTC, ETH, or XRP holders.
Litecoin Technical Analysis
Litecoin has been experiencing little price action in the last few days, this comes after prices came tumbling down from the beginning of the month.The 14 day RSI is at 49, MACD trend line and signal lines at 0, and William alligator crisscrossing.These indicators suggest a rather slow market with no likelihood of price reversals to either position.At this position, it is wise to wait and see how the market plays out.
Note that this is not investment advice always carry out due diligence before purchasing cryptocurrencies.
Litecoin Price Prediction 2022 – 2030
Walletinvestor
Litecoin’s historical data index ranks ‘B+’ according to Wallet investor analysis ai.
Litecoin is an ‘outstanding’ one-year investment for crypto investors with an estimated growth of 49.2% by May 2023.Litecoin prices will be bearish in the coming two weeks falling from their current price to $45.715.It’s therefore not a profitable short term investment.Litecoin forecast suggests a bullish trend every year for the entire period.Return on investment in 2024 will be 95.7%, 2025 at 125%, 2026 at 197.7% and 2027 at 251.4%.Trading Litecoin in a bull market is profitable.Litecoin cryptocurrency has a positive outlook in the cryptocurrency market.
TradingBeasts
Litecoin has been in a bear market since the beginning of the year losing money rapidly and had its worst performance this month trading below $70.
LTC’s price is forecast to average at $75.121 in June.The bear market will continue to the end of the year with the average price falling as low as 71.677 in December.In the year 2023, the cryptocurrency market will not be any better with the drop continuing until November when the prices will be 53.995.
Litecoin’s moment to shine will begin in December and prices will continue rising for the entire forecast period.Litecoin will cross the $100 mark in March 2025
Digital coin price
Litecoin’s long term price prediction by Digital Coin price is bullish, with the average price in 2022 at 90.36.According to their LTC price chart, May will register the lowest prices for 2022.This will then rise to 99.70 in June and later $100 as we head towards the end of the year.
Litecoin’s average price for 2023 will be $102.46 and for 2024 it will be $104.86.The trend will continue crossing the $200 mark in 2028 to average at $223.22.By 2030 Litecoin will be trading at $317.73 with prices ranging between $306.46 and $327.75.
Cryptopolitan
Litecoin Price Prediction 2022
LTC price prediction for 2022 is $83.05.The entire crypto market has been bleeding in the last few months, and trading Litecoin this month has not been profitable for day traders.
The market will reverse in the coming months and we expect LTC cryptocurrency to trade higher.Litecoin cryptocurrency price will hover between $94.71 and $80.43.
Litecoin Price Prediction 2023
LTC price prediction for 2023 is $125.45.The Litecoin halving event is set to happen in 2023.This refers to a period when the block reward is halved usually after 840,000 blocks.
This will reduce supply and increase the value of Litecoin cryptocurrency.Litecoin will trade between a maximum price of $138.87 and a minimum price of $122.13.
Litecoin Price Prediction 2024
LTC price prediction for 2024 is $177.03.The popularity of crypto payments is rising due to their high efficiency when compared to mainstream finances.This has been evident in the war between Ukraine and Russia where millions of funds have been raised in crypto.
This popularity will help LTC grow and prices for the year will be between $209.25 and $170.76.
Litecoin Price Prediction 2025
Litecoin’s price prediction for 2025 is $257.23.Litecoin’s trading price will continue rising into 2025.Crypto payments will continue to have stiff competition with new blockchains bringing in higher efficiency with a fast settlement, the competition will attract more users and updates on the systems themselves to keep up.LTC prices will range between $295 and $250.15.
Litecoin Price Prediction 2026
Litecoin’s price prediction for 2026 is $377.40.
At the rate, Litecoin price forecasts suggest it will reach and pass its all-time high of $412.96 to reach a maximum price of $435.18.This will however depend on fair competition, political stability and crypto regulation.The minimum price for the year will be $367.11.
Litecoin Price Prediction 2027
Litecoin’s price prediction for 2027 is $527.48.Litecoin has a positive future and is a good investment.Litecoin prices will rise as digital assets adoption grows mainstream.
The transition into WEB3 will be a big win for early entrants into the cryptocurrency space.Litecoin’s cryptocurrency price will trade at a high of $642.78 and a low of $512.39.
Litecoin Price Prediction 2028
Litecoin’s price prediction for 2028 is $759.08.As web 3 grows so will the use cases of blockchain systems and smart contracts.
There is a huge probability that Litecoin will invest itself into Non-fungible tokens, play to earn games and metaverse.This will bring it on par with its competitors.
LTC price will range between $893.75 and $737.98.
Litecoin Price Prediction 2029
Litecoin’s price prediction for 2029 is 1,135.41$.LTC coin price forecast shows it will cross $1,000 in 2029.
At this point, Litecoin’s support level will rise to $980.This is possible due to the utility of the coin and its user-friendliness to both developers and users.LTC prices for 2029 will likely hover between $1,293 and $1,097.
Litecoin Price Prediction 2030
Litecoin’s price prediction for 2030 is $1617.92.As a result of recent price surges, Litecoin will shoot over 50% of its price in 2029.This will be partly driven by market speculation as Litecoin finds its position above $1000.Its market capitalization will have grown immensely from 2022.Litecoin’s future price will range between $1,572 and $1,933.
Litecoin Price Predictions by Industry Influencers
Litecoin may not spring in the short term according to a report shared by Thinkmoon on Twitter, this follows analysis from technical indicators such as Stochastic indicators and SMA indicators.
Litecoin industry analysts are continuously sharing updates to streamline its processes.
Always conduct your own research and price prognosis before purchasing a digital coin financial instrument.
Conclusion
Litecoin has had a bad start this year but this has been the outlook on the entire cryptocurrency market.Litecoin operates in a highly competitive space with new blockchains emerging with near-zero cost payments.
To make it in this space there is a need for innovation and scaling of the Litecoin foundation.
Going forward, Litecoins price forecasts show it will outperform its past performance.Gradual growth will see Litecoin reach its ATH in 2026 and cross $1000 in 2029.Litecoin potential will explode in the future despite high volatility.
Litecoin has been trading since 2011 and is an established top 10 coin.Meaning that it is a popular choice for investors.If a cryptocurrency has a high trading volume, it means you will have no problems finding buyers to sell to.If there are low trading volumes, it means you could find it difficult to find a buyer!
Litecoin is one of the most established cryptocurrencies, with more than 7 years of trading.In fact, it was the first-ever alt-coin! This makes Litecoin investing less of a risk compared to some of the newer coins.As always, do your own diligence in studying the crypto market and look for ways how to get in and get out with a profit.
However, if you like the project, why don’t you try other ways of earning like staking ?
FAQS about Litecoin
Where can I buy Litecoin?
You can buy LTC on Binance , By bit and Huobi Global.
Which is the best wallet to store Litecoin?
The lite wallet is the best for Litecoin.
Will the price of Litecoin reach $1000?
Yes, the LTC price will reach $1000 in 2029.
Is Litecoin better than Bitcoin?
Litecoin has better technology than Bitcoin.Litecoin’s blockchain is 4X faster than Bitcoin’s.BTC takes an average minimum of 10 minutes to verify a block of transactions thoroughly.Litecoin takes 2.5 minutes.The mining process of Litecoin is more straightforward than BTC.
The former uses the Scrypt algorithm, which is considered less complicated than Bitcoin’s SHA-256.
Will the price of Litecoin go up?
The price of Litegoin (LTC) will go up.As the market capitalization and volume of the coins keeps rising, the cost of Litecoin will also keep increasing.Most Litecoin forecasts indicate the price will increase.And as of now, the price movement of the coin suggests a bullish trendline.
Is Litecoin the future?
Charlie Lee intended to create a lightweight alternative for Bitcoin.
Much in the same way that Silver is a cheaper alternative for GoldGold.He achieved this through a soft fork on the original bitcoin blockchain and created even better rules for the coin.
This means the blockchain and technology upon Litecoin are efficient, fast, and scalable compared to Bitcoin.
How do I mine Litecoin (LTC)?
Purchase mining equipment – Purchase ASIC mining hardware for Litecoin.Litecoin mining did not demand much power in the past, and people using average CPUs/GPUs had chances of winning block rewards.See the full Litecoin mining discussion here.
How do you sell Litecoin?
You can sell your Litecoins through a trading exchange or peer-to-peer exchange.Just enroll into either Coinbase or https://www.cryptopolitan.com/news/binance-bnb/ and sell your cryptocurrencies to other traders on the platform.
Other Litecoin owners on the network can also sell you the digital currency at your convenience.You can also trade the coin for other currencies such as Bitcoin, bitcoin cash , and so forth.
Is Litecoin a good investment?
Yes, Litecoin is a good investment.In terms of the potential to be adopted and the volume of supply of the coins.The coin is fated to bring more people into the cryptocurrency industry, increasing its market cap and skyrocketing the price of the digital currency.
Apart from the risks involved, Litecoin being established crypto, having a full-time head, and making small investments make LTC a good investment in 2022.
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We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions..