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.
Today’s Litecoin price is $58.15 USD with a 24- $564,987,728.Litecoin is down 5.11% in the last 24 hours.The current CoinMarketCap ranking is #20, with a live market cap of $4,098,549,513.
It has a circulating supply of 70,477,156 LTC coins and a max.supply of 84,000,000 LTC coins.
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.
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.
[6 Litecoin Price Prediction (Update)]
[6.2 Litecoin Price Predictions 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 $1,868.50 per troy ounce, after the U.S.Labor Department reported an increase in the consumer price index (CPI) by 6.2% year-over-year.
That marked the fifth-straight month of inflation above 5%.
Litecoin has been one of the beneficiaries of the Bitcoin rally in past months, with its one-year correlation efficiency with Bitcoin standing at 0.71 above zero.
Dubbed a bull pennant, the bullish continuation pattern appears when the price consolidates sideways inside a triangular structure after a strong rally upward.Traders confirm a bullish breakout when the price breaks above the triangle’s upper trendline with strong volumes.
Litecoin Founder
Charlie Lee developed Litecoin in 2011 as a lightweight alternative for Bitcoin.His vision was to create an altcoin with lightning transaction speeds and one favorable for miners.
Lee, an ex-Google engineer, announced the launch of the coin via the Bitcoin Forum.
He and other developers claimed their main intention was to build the Silver for Bitcoin.Both BTC and LTC coins share the underlying concept of Proof of Work.
Note: The proof of work ecosystem means that a digital coin is mined for creation, authentication, and verification.Upon which the coin is added into a blockchain or a decentralized public ledger.
Both Litecoin and Bitcoin share a few similarities.
These include how the coin is created, stored, and mined.All the processes are similar but differ on the grounds of efficiency.Litecoin was created from a soft fork; rather than a hard fork.
So what’s the difference between a hard fork and a soft fork?
A hard fork is a complete transformation of a blockchain’s protocols and rules, making old rules invalid and unworthy.
A soft fork upgrades with new protocols that make software robust and backward compatible.
Litecoin Overview
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|LTC||$ 48.61||$ 3.44 B||4.50%||70.70 M||$ 332.88 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 Price Prediction (Update)
LTC Technical Analysis
Litecoin has been on a downward trend this year and had its best performance this year in January and April.The William alligator trend line has been on a downward trend since April.Short term, the MACD shows price momentum decreasing to the upside.There is no imminent sign of reversal from the 14-day relative strength index.
Litecoin Price Predictions 2022 – 2030
Walletinvestor
Wallet investor uses machine learning to predict the prices of digital currencies.It rates Litecoin’s historical performance ‘B+’.The AI suggest Litecoin is an ‘Outstanding’ long term investment.
Litecoin will trade at $94.661 in one year after going up by about 53.8% from its current price.Litecoin’s price will range from $59.199 to $62.755 in the coming two weeks.Litecoin will have grown in value by 102.1% in 2024, 155% in 2025, 192.7% in 2026 and 234.5% in 2027.Based on trading data for the last 30 days, the AI suggests Litecoin’s current price is extremely bearish.
TradingBeasts
Trading Beasts analyze Litecoin’s past performance using polynomial and linear regressions.
The coin will trade at an average price of $67.204 in July.
It will then drop every month for the remaining bit of the year.
In December LTC price will be $64.522.In 2023 Litecoin will trade in bear markets.The LTC price will fall from $63.686 in January to $46.799 in December.
In 2024, Litecoin will trade in bull markets.Its price in January will be $49.883 and $78890 in December.The price growth will extend into 2025, ranging from $80.940 in January to $99.552 in December in the crypto market.
Digital coin price
Litecoin will trade at an average price of $91.46 in July according to the Digital coin price.Its price in crypto exchanges will then range between $91.54 to $2.66 in the remaining half of the year.In 2023, Litecoin will trade at an average price of $90.86.It will reach a maximum price of $99.54 and a minimum price of $81.72.In 2025, Litecoin will trade at an average price of $113.24.It will reach a maximum price of $127.99 and a minimum price of $105.86.
In 2030, Litecoin will trade at an average price of $281.75.It will reach a maximum price of $290.64 and a minimum price of $271.76.
Cryptopolitan
Litecoin Price Prediction 2022
The Litecoin price prediction for 2022 is $83.05.
Litecoin recently updated its ‘Mimble wimble’ privacy update.The move has been welcomed by the blockchain community.However, Litecoin is facing backlash from regulators.Bithumb and Upbit exchanges from South Korea will be delisting Litecoin as a result of the update.
Litecoin Price Prediction 2023
Litecoin LTC price prediction for 2023 is $125.45.In 2023, the Litecoin halving event will be happening.
Halving means that the block reward is going to be halved.
Miners will have to work twice as hard to get the same reward.This will reduce the number of Litecoin being supplied.Litecoin will reach a maximum value of $138.87 and a minimum value of $122.19.
Litecoin Price Prediction 2024
Litecoin LTC price prediction for 2024 is $177.03.The use of crypto payments is set to grow in the future.This has been witnessed in the Ukraine Russian war where millions of funds have been made through crypto.The privacy feature will enable people to make anonymous payments.Litecoin will likely become popular with bad actors.Litecoin’s average trading price will range between $209.25 and $170.76.
Litecoin Price Prediction 2025
Litecoin LTC price prediction for 2025 is $257.23.
New advances in technology and IT will bring more efficient digital coins into the market.These will feature near-zero cost payments and smart contract utilisation.To keep up we expect innovations from the Litecoin foundation.Litecoin will trade between $295 and $250.15 for the year.
Litecoin Price Prediction 2026
Litecoin LTC price prediction for 2026 is $377.40.At this momentum, Litecoin cryptocurrency will reach its all-time high (ATH) in 2026.Its previous ATH is $412.96 set on 10th May 2021.It will pass the price and set new resistance and support levels.Litecoin price movement for the year will range between $435.18 and $367.11.
Litecoin Price Prediction 2027
Litecoin cryptocurrency price prediction for 2027 is $527.48.
The transition into Web 3.0 will accompany the mass adoption of digital assets.This will affect the market capitalization of Litecoin.Early adopters will be the highest gainers.
Litecoin’s market cap will grow and its trading price will be between $512.39 and $642.78.
Litecoin Price Prediction 2028
Litecoin cryptocurrency price prediction for 2028 is $759.08.Bitcoin is expected to invest more into web 3.0 to increase its utility to its users.Litecoin in the future will feature in the metaverse, non-fungible tokens (NFTs) and play to earn gaming.Litecoin’s trading price will hover between $893.75 and $737.98 for the year.
Litecoin Price Prediction 2029
The Litecoin price prediction for 2029 is $1135.41.
Bitcoin will eventually cross the $1000 mark in 2029.This milestone will increase market sentiment and probably push prices higher.At this market cap, Litecoin will be trading alongside top tier cryptos on trading platforms.Litecoin will trade between $1293.48 and $1097.46 for the year.
Litecoin Price Prediction 2030
The Litecoin price prediction for 2030 is $1617.92.The LTC network will continue to experience unprecedented growth with positive future results.However, you should note that negative news and market crashes could derail the performance of Litecoin.The crypto market is highly speculative.
It will trade between $1572.50 and $1933.41 for the year.
Litecoin Price Predictions by Industry Influencers
Bitcoin Bros Youtube channel goes through Litecoin price predictions and technical analysis.
Conclusion
Litecoin has been on a downward trend for the better part of this year.This sentiment has been shared by the entire crypto market.The crash of Luna in May affected the value of Litecoin.Litecoin lost over 40% of its value falling from $106.2 to $62 by the end of the month.
The Litecoin market should start recovering in July.
Litecoin predictions show the coin will be on an upward trend from 2023 to 2030.It will cross $1000 in 2029 and average at $1572.50 in 2030.
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 ?.
