What Is Litecoin?
Litecoin, or the digital silver is a cryptocurrency that fulfills the purpose of being a very convenient and easily accessible and tradeable digital currency as it functions as a peer-to-peer and is completely open to anyone who wants to trade or invest in Litecoin. Litecoin does not require any mediums like Ethereum. We will see Litecoin Price Prediction in detail.
One can simply join the Litecoin network by downloading the software code. Litecoin is known to trade with the LTC symbol and has a lifetime maximum limit of 84 million Litecoin.
Who created Litecoin
Litecoin was released in late 2011 by Charlie Lee, a former employee at Google who went on to become the Engineering director at Coinbase.
Litecoin Historical Price analysis
Most investors are interested in the future price predictions of Litecoin but very few are keen to find out more on the historical price analysis. However, historical analysis is key to making the right investment decisions.
Litecoin has been one of the most popular and commonly used digital currencies since its initial launch in 2011. Litecoin is the third largest cryptocurrency in terms of market capitalization after Bitcoin and XRP.
Currently, the price of a Litecoin stands at $209.64 and around 67,065,288 Litecoins are being traded as we speak. Litecoins currently has a trade volume of $6, 657,793,728 over the last 24 hours and a market capitalization value of $14,791,088,201.
Litecoin is available in many exchanges and tops the list of cryptocurrencies traded in the top 5 exchanges too such as Coinbase, Binance, Bitfinex and Okex to name a few.
Litecoin has proved to be one of the most lucrative and promising cryptocurrencies in the past and has been the secret to success for most modern-day cryptocurrency billionaires such as the Winklevoss brothers and Erik Fineman.
LTC Market Cap
Litecoin has steadily increased over 2020 and government policies combined with the market situation is likely to have a significant influence over the Litecoin prices. Also, the launch of the game Litebringer has affected the Litecoin price.
In 2020, Litecoin yielded a return of 2.72 times which was amazing given the Pandemic situation and the panic which led to a bearish outlook on investment and stock markets in general. Litecoin looks bullish and consistently features in the top ten crypto by market cap.
Litecoin is indeed an investment worth considering because you never know when the Litecoin will reach its peak and let its investors make the most of it. It is quite interesting to note that LTC hit its peak at $375.29 in December 2017.
Over the years, LTC has recorded an all-time high price of $360.66 and an all-time low price of $1.15.
LTC Circulating supply and total supply
Similar to most other cryptocurrencies, Litecoin too undergoes halving every four years which is necessary in order to regulate the supply and maintain its purchasing power. However, this will lead to an inevitable drop on the reward.
The initial launch of Litecoins was capped at 84 million and as of now 79.84% of these Litecoins have been mined which leaves us with a remaining supply of around 6.4 million Litecoins to be mined until the next block half.
On average 7200 Litecoins are generated per day with around 576 blocks being created daily at every 2.5-minute intervals of time.
Litecoin Price Today – Current Price
At the time of this writing, 1 Litecoin is equal to $204.77.
Litecoin (LTC) Future Price Forecast Prediction
Litecoin has been one of the pioneers in the cryptocurrency industry and it has shown promising trends over time, where the growth rates, users and yields are expected to steadily grow over time.
Let us take a quick tour of the LTC Price predictions posed by some of the industry experts regarding the expected highest and lowest prices of the LTC from the years 2021 to 2025.
Litecoin Price prediction 2021
While Litecoin has proved to be a highly successful and intelligent choice of investment in the past, it is important to understand what trends does Litecoin hold for the future. It is never too early to start analyzing the movement and trends of Litecoin and a great place to start would be the expected Litecoin price predictions for 2021.
According to the Walletinvestor report, the Litecoins price predictions for the rise in prices early 2021 is fairly modest with a steep rise expected in later 2021 around the months of September to December with the expectation of reaching its highest price at $ 180-200 during the last quarter of 2021.
By the end of 2021, the Walletinvestor expects Litecoins to maintain an average price of $146.522 with the expected maximum price ceiling of $194.364 and minimum price floor of $99.427.
However, post 2021 the bluish trend in the graph below does not look too promising where a falling trend is observed. However, these are simply predictions and chances do exist for the actual price and yield of the Litecoin to turn out to be quite the opposite.
Litecoin Long term prediction
What do the experts say about Litecoin for 2022-2025?
Different experts hold controversial opinions on the expected price and growth rates of Litecoin over the years. Prime XBT has forecasted the price of Litecoins to reach a staggering $10,000 by 2025! However, according to a forecast by the Digitalcoin Price, the litecoin price is expected to gradually increase over the years by around $50-$100 rise annually over the 4 years.
While the opinions and predictions of the price and growth of Litecoin may differ, it is certainly a great venue to invest in because the crypto market as a whole has bright prospects for the future and where’s the fun without a bit of risk involved after all!
Litecoin Price Prediction 2023
According to the forecast published by Digitalcoinprice the litecoin prices are expected to remain quite modest and stable over the year. It is also expected that the price of a litecoin may face a drop in early 2023 and pick up eventually.
In 2023, the litecoin is expected to reach $269.24 on average.
Another key point to note Is that in August 2023, Litecoin would undergo halving and the litecoin is expected to reach 6.25 LTC which may lead to greater investments and higher growth in future years. However, this is expected to reduce the Litecoin price in the third quarter of 2023.
Litecoin Price Prediction 2025
The litecoin prices in 2025 looks positive with a sharp increase during the first few months of 2025 perhaps, owing to the digital halving in 2023 combined with greater popularity and higher yields of the Litecoin. The Digitalcoinprice predicts a $391.43 price for Litecoins in 2025 but other sources indicate different predictions as follows;
- Walletinvestor expects an average price of $ 910
- Cryptoground expects an average price of $ 2,990
The litecoin similar to other cryptocurrencies cannot be predicted easily and it may hit the peak or the rock bottom when we least expect it due to the inherent nature of the price volatility of digital currencies.
Litecoin Price Prediction 2030
Most sources and experts forecast a highly optimistic outlook for the Litecoin price in 2030. According to Coinswitch by 2030, litecoin would have completed its fourth halving process combined with its ability to integrate as a commonly accepted means of payment and keep in touch with the evolving technological trends, the average Litecoin price in 2030 is expected to hit the peak of $1500.
By 2030, the price of the litecoin is expected to stabilize with less fluctuations so the golden opportunity to make massive gains or losses will be long gone. Also, with PayPal recognizing Litecoin as an accepted mode of payment, it is highly likely that the price of a litecoin will stabilize and remain at a fairly reasonable rate in par with the list of other accepted cryptocurrencies.
Having observed the long-term price predictions of the Litecoin, it is quite clear that the Litecoin makes a lucrative investment in the longer term and is definitely a crypto worth investing in. Going by these litecoin price predictions, Litecoin is expected to reach $234 in 2022 and increase by a good 65% to $391 in 2025. By ten years’ time, the litecoin is expected to reach great heights and top the list of the most popular cryptocurrencies out there.
Is Litecoin a good investment?
Despite the price volatility, litecoin makes a great choice of an investment due to its relatively faster processing speeds, lower transaction costs and long-term growth prospects. The Safety and security of your investment is never contested with litecoin as it has been recognized as one of the most safe and secure cryptocurrencies out there.
Is Litecoin safe to buy?
Litecoin has been deemed as one of the safest cryptocurrencies out there. However, it does have the inherent limitations surrounding the safety and security concerns of any cryptocurrency. Is it up to you to decide how safe of an investment the Litecoin would be after having a look at this article and all that it entails.
How To Buy Litecoin? Step By Step Guide
If you’re interested in purchasing Litecoins, here’s a step by step guide on how to buy Litecoins. Follow these simple and easy steps and purchase litecoin in no time.
- Obtain a digital Litecoin wallet
- Find a digital currency platform that sells Litecoin
- Make the initial deposit and start trading
- Withdraw the Litecoins to your digital wallet
Best Crypto Exchanges to Buy Litecoin
The litecoin is the third most commonly used type of cryptocurrency and is available for trading in a variety of crypto exchanges including the following more popular crypto exchanges as listed below
- Coinbase cryptocurrency exchange
- Gemini Exchange
- Binance Global Exchange
- Binance US cryptocurrency exchange
- BlockFi – Buy and Lend Crypto
- Coinmama cryptocurrency exchange
- BitFinex cryptocurrency exchange
- Bittrex Crypto Exchange
How High Will Litecoin Go?
According to the Coin price forecast the Litecoin is expected to do well in the long term where it has been forecasted that the Litecoin will hit a $500 by 2021, $1000 by mid-2024 and then the peak of $2000 in 2030.
Will Litecoin Go Up Tomorrow?
As of now, Litecoin operates in a highly volatile environment and despite the many forecasts and Litecoin price predictions, the actual price of the Litecoin tomorrow can never be stated accurately due to the inherent limitations involved.
However, the Litecoin does have a promising future and if you invest in Litecoin today, you will certainly be able to enjoy the benefits tomorrow.
Will Litecoin Reach $1000?
Litecoin has indeed reached great heights by launching the LitePay and LitePal options which has increased its popularity and demand for a convenient and affordable gateway.
Litecoin has also made it to the third place in the highly competitive cryptocurrency market and most Litecoin price prediction sources expect LTC coin to reach $1000 in the next 3 to 5 years if all goes well.
Is Litecoin better than Bitcoin?
Litecoin has been a better choice compared to the traditional bitcoin as it offers faster block times, increased maximum coin supply and the use of a unique and highly functional Scrypt hashing algorithm.
The litecoin network also generates new blocks every 2.5 minutes which surpasses the Bitcoin block generation by almost 4 times. Litecoin is indeed better than Bitcoin in most aspects especially as far as convenience, speed and ease of access is concerned.
Make sure your system is free from Bitcoin miner virus which cryptojacks many computers and affects its performance.
Takeaways-LTC Litecoin Prediction
- The Litecoin is a popular cryptocurrency launched in 2011 by Charlie Lee as a project fork of Bitcoin.
- Litecoin is the third largest cryptocurrency that has a market capitalization of $14,791,088,201.44.
- Litecoin is the safest and best investment option for any long-term investor seeking high returns on investment.
- Litecoin is a cryptocurrency that trades by the symbol LTC.
- Walletinvestor expects to see the price of a litecoin at $219.377 in one year’s time in 2021.
- Ripple News continues to have a positive outlook regarding the expected performance of the litecoin price prediction in 2021 where it is expected to be within the high-low range of $230-$150.
- Prime XBT seems to be overly optimistic on the performance of the litecoin between the years 2022-2025 where it is expected to reach $10,000.
- Litecoin price prediction 2030 shows LTC to be a much more stable and mature currency that is well accepted as a means of payment.
- Though Charlie Lee has sold all his litecoin, people still believe in the coin to do well in the long term
- Litecoin is driving its growth through various crypto partnerships lately
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates