24 January 2020, 22:01
2 min reading
Litecoin is one of the biggest cryptocurrencies by market capitalization. Its low price, high speed and affordable fees have made it a go-to choice for cross-border money transfers. In this article, you’ll learn more about this unique cryptocurrency and discover the Best Litecoin Price Predictions 2020, 2021, 2023, 2025 and 2030. The digital currency was
Litecoin is one of the biggest cryptocurrencies by market capitalization. Its low price, high speed and affordable fees have made it a go-to choice for cross-border money transfers. In this article, you’ll learn more about this unique cryptocurrency and discover the Best Litecoin Price Predictions 2020, 2021, 2023, 2025 and 2030.
The digital currency was created by Charlie Lee and implemented important technologies that were later used in prominent cryptocurrencies like Bitcoin, among others. Litecoin, as most cryptocurrencies, has been lately suffering from an ongoing bearish trend.
Over the course of 2018, LTC’s price decreased almost five times. This price movement made investors question what factors can boost Litecoin price and where it will be standing in the years to come.
In 2019, Litecoin underwent its second halving, where the block reward halved to 12.5 LTC from 25 LTC. Investors and crypto enthusiasts were quite vocal about the Litecoin halving event and the effect it had on the digital currency. According to blockchain experts, some investors rapidly ended their LTC trading process after the halving took place.
A few months back, LTC introduced Confidential Transactions for tackling fungibility issues. Experts stated that this is a huge step towards the growth of Litecoin, and it will no longer be known as Bitcoin’s sister.
So, what is in it for the investors? What the future holds for Litecoin? To answer these questions, we’ve compiled the latest expert opinions to determine the long term benefits of investing in this currency. Without further ado, let’s get to Litecoin price predictions and finally answer the question we all ask ourselves: will Litecoin go back up?
If you are new to the realm of cryptocurrency, you must have come across names like Bitcoin, Litecoin, Ethereum, etc. There are about 1,658 recognized digital currencies in circulation.
Because Bitcoin was the first cryptocurrency to launch, it has got all the publicity and attention for media outlets. However, it contests with lots of promising alternatives, one of which is Litecoin.
Cryptocurrencies are measured by their market cap. Simply put, market capitalization is the amount of digital currency on the market. Taking this factor into consideration, Litecoin has established itself among the top 10 largest cryptocurrencies in the market.
Litecoin LTC is a decentralized peer-to-peer cryptocurrency that functions as an online payment system. Like a bank’s online network or PayPal, users can use LTC to transfer currency to one another.
However, there’s a catch! Instead of using US dollars for transactions, Litecoin uses the LTC coin for value transfers. This is where its similarity to most traditional cryptocurrencies ends. Litecoin is designed as a more scalable and reliable payment-focused alternative to Bitcoin.
As you can imagine, there are many reasons to invest in Litecoin (LTC). Yet, there are also some downsides that you must take into account before using it. That said, let’s find out the pros and cons of Litecoin.
Litecoin is open sourced, which means it can easily implement changes and software updates to respond to the changing dynamics of the market. For example, it can easily embrace and adopt new systems like Lightning Network (LN) technology as well as the new SegWit system.
Compared to other cryptocurrencies, Litecoin is extremely fast. The LTC blockchain processes a block within 2.5 minutes, whereas Bitcoin takes 10 minutes to process each block.
The transaction fee for Litecoin is rather low, which makes it a great digital currency to transfer value. This is one of the major benefits that Litecoin offers against other cryptocurrencies out there.
When we compare it with Bitcoin, Litecoin has a high upper limit in terms of the number of total coins. That is as compared to Bitcoin’s 21 million limit, Litecoin has 84 million, which is quite high.
The speed of LTC transactions makes the system less vulnerable to getting hacked or used by attackers for malicious activities. There’s only a small time-window for hackers to attempt any attack.
Litecoin is known for adopting the latest technologies and that’s what makes it unique. However, some voices in the industry believe its uniqueness is fading away as other cryptocurrencies, such as Bitcoin, are also leveraging technologies for enhanced speed and efficiency.
The credibility of Litecoin is in question after Charlie Lee sold all his LTC holdings last year in December. With that, his faith and interest in Litecoin were called to question.
The closure of LitePay has also affected Litecoin. LitePay was touted as a potential merchant solution for the investors that would work the same as Bitcoin’s Bitpay.
This 2020 is going to be a significant year for Litecoin LTC. Or so experts say. However, with the market fluctuating continuously, making a Litecoin price prediction is one of the most challenging tasks.
We have accumulated insights from leading publications and entities dealing in the crypto market. Based on these insights, you will get a fair idea of what to expect from the price of Litecoin for 2020.
According to DigitalCoinPrice, a cryptocurrency prediction website, the Litecoin price might reach $106 for Litecoin by the end of 2020.
Coin Price, another cryptocurrency prediction website, predicts that the Litecoin price might grow as high as $124 by the end of the year. This is another very positive prediction.
Long Forecast says that based on their research, Litecoin price might reach $55 as the year ends. This site takes a more cautious bullish approach than the above mentioned. In fact, Litecoin has already touched this level in January 2020.
Wallet Investor in known for projecting conservative price Litecoin predictions. This site’s analysts believe the coin might reach a value of $22.95. Following this scenario, the Litecoin price will eventually turn downside and trim nearly 50% of its value.
Based on the technical analysis performed by Trading Beasts, the price forecast 2020 of Litecoin LTC is around $47 by the end of 2020.
They also said that Litecoin is going to be good for investment in the long run. Overall, there are high possibilities of Litecoin LTC succeeding in 2020.
Many believe that following the halving, the Litecoin price will soar in the coming years. Experts say that the future looks bright for LTC with all the partnerships and integrations.
Based on the enthusiasm of the Litecoin community with upcoming updates, this currency will rise and give a tough competition to other cryptocurrencies.
As far as the Litecoin price prediction 2021 concerns, cryptocurrency analysts see the price aiming at a whopping $600 by the end of that year.
Litecoin is slowly but steadily gaining more traction among cryptocurrency enthusiasts for one good reason: it’s a reliable payment method. It offers outstanding speed at very affordable fees, making a great choice for processing payments all over the world.
Logically, the Litecoin price prediction 2023 will depend on the level of adoption this currency has achieved by that time.
The experts consensus points at a $900 price level. However this doesn’t mean it will be a consistent growth. Volatility is expected to remain high, potentially creating several bearish cycles until LTC reaches the aforementioned level.
Since Litecoin LTC will be halving in 2023, the block reward will be cut to 6.25 LTC. The halving will most likely promote investments in expectations of a higher value. According to industry experts, LTC might shine ahead of its peers to become one of the most traded cryptocurrencies. By the end of 2025, the value of the coin is seen at $1200.
Predicting the price of Litecoin for years ahead isn’t an easy task. The Litecoin price prediction 2030 is based on adoption, but also on the 4th halving event. Following the reward reduction, Litecoin is expected to extend gains up to $1500. If this price analysis is right, Litecoin could also make its way up to the top 3 cryptocurrencies by market capitalization.
Our LTC price prediction is primarily bullish. We believe that LTC will not lose its popularity. If there are any difficulties in the Bitcoin network, Litecoin could become a go-to entity for investors and enthusiasts.
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