Litecoin Price Prediction
Litecoin (LTC) is a cryptocurrency that launched shortly after bitcoin. The “gold standard” of crypto — bitcoin — was revealed to the world in 2009, while litecoin followed on its heels in 2011. Litecoin is often called the “silver” to bitcoin’s gold and is accepted as a form of payment in more places than many other alt-coins.
Litecoin is one of just four cryptocurrencies that users can buy and sell on the payment platform Venmo, along with bitcoin, ethereum and bitcoin cash. To trade most cryptocurrencies, users must open an account on a crypto exchange like Coinbase, Gemini, eToro or Kraken, which were all rated by GOBankingRates in the top 8 of cryptocurrency apps. You can also trade litecoin on any of these exchanges.
Like other cryptocurrencies, you can invest in litecoin. You can also mine litecoin, which means that you verify transactions to help the blockchain run quickly and efficiently, earning coins in exchange for the computer processing power you provide.
Litecoin processes transactions faster than bitcoin, which makes it viable as a common medium for daily transactions. It also has a larger circulating supply, which is helping in its widespread adoption but also keeping its value lower than bitcoin’s. The more coins that are in circulation for any currency, the lower the value, since there are more to go around.
The maximum circulating supply of litecoin is 84 million coins, while bitcoin has just 21 million coins.
What makes litecoin so special? And, most importantly, what is litecoin’s price prediction? What will litecoin be worth in 2022 and beyond?
A Brief History of Litecoin
Litecoin was developed off a fork in the Bitcoin blockchain. Since cryptocurrency was originally developed as an alternate payment method, litecoin developers were hoping to further democratize crypto mining, taking it out of the hands of larger enterprises to disburse the wealth.
Litecoin failed at keeping away enterprise miners, but it succeeded in becoming a widely recognized and respected alt-coin. Founder Charlie Lee, a former Google engineer, first released 150 pre-mined litecoins to the world in 2011. In July 2022, fewer than 14 million of Litecoin’s 84 million coin supply are left to mine.
The blockchain was designed so that as the supply diminishes, new coins will be created more slowly to preserve litecoin’s value. The rewards for creating new blocks are halved as time goes on. By 2023, miners will earn just 6.25 LTC per verified transaction, compared to 50 LTC when Litecoin launched and 12.5 LTC in 2022.
This knowledge of halving and the coin’s supply still leaves questions unanswered. For starters, what will Litecoin be worth by the end of 2022?
What Will Litecoin Be Worth in 2022?
On July 13, litecoin is worth $47.15 per coin. The coin, like many cryptocurrencies, has been affected by the overall crypto market downturn and is down over 64% in the past year and 68% year to date.
In comparison, bitcoin is down about 41% over the past year and 59% year to date.
Litecoin started its life worth about $3 per coin and eventually gained 140% of its value by 2020. At the end of 2021, LTC closed at $146.51, more than three times the value it holds in July 2022. But this can hardly be considered a downtick specific to litecoin, since the entire crypto market has fallen in 2022.
Predictions for 2022
Overall, litecoin’s widespread acceptance — particularly for small, peer-to-peer transactions — along with expected integrations and partnerships, bode well for the coin. Developer Charlie Lee recently introduced confidential transactions, making litecoin even more enticing to consumers and, as a result, investors.
Changelly predicts that litecoin is set to rise for the remainder of 2022. The site pegs its minimum cost by the end of the year at $80.43, with a maximum of $94.71 possible. And Changelly is just one of the sites bullish about Litecoin’s future.
Coin Price Forecast predicts litecoin will reach $53.73 by mid-year and $76.08 by the end of the year.
TradingBeasts estimates a minimum price of $44.58 by the end of the year and a maximum of $65.57, which would represent almost 39% growth.
On the other hand, LongForecast.com doesn’t have such a good short-term forecast for litecoin. The site’s litecoin price prediction is that it will drop rapidly, losing over 56% of its value by December 2022. That would bring the coin to a range of $18.79 to $23.33.
What Will Litecoin Be Worth in 2025?
Skipping ahead to 2025, most analysts predict that litecoin will have a bright future. Changelly predicts that litecoin could go as high as $138.38, with a minimum of $122.13.
Coin Price Forecast is also bullish, indicating that the coin’s value will rise steadily through 2025, hitting a peak of $142.87 by the end of the year.
TradingBeasts believes litecoin will drop 1.07% January 2025, increase 17.11% above its current price by October 2025 and hit $57.25, a 20.28% increase, by the end of the year.
LongForecast.com, on the other hand, predicts that LTC could lose nearly 60% by the end of 2025, eventually settling in at $21.80.
Where Will Litecoin Be in 5 Years?
The major forecasters show LTC following a positive trajectory over the next five years. It could reach $177.21 by the end of 2027, according to Coin Price Forecast.
Changelly has a highly optimistic view, predicting litecoin to reach an average of $527.48 five years from now, with a possible high of $642.78.
Again, LongForecast.com is bearish on the coin, thinking it could drop as low as $13.49 in August 2026, the last month and year for which the site has published a litecoin price prediction.
What Is the Litecoin Price Prediction for 10 Years From Now?
It is difficult to look 10 years out with any cryptocurrency predictions. It’s important to note that litecoin is a highly volatile, speculative investment just like any alt-coin and even bitcoin. LongForecast.com, which sees litecoin ultimately crashing, could be right.
But the majority of expert analysts see litecoin steadily climbing over the next decade.
Again, Changelly has the most aggressively optimistic predictions. The blog forecasts litecoin hitting a maximum price of $2,373.71 by 2031. That means if you invested just $100 in LTC mid-July 2022 at the price of $43, you would have $5,056 by 2031.
Trading Eduction is also bullish on litecoin, predicting a jump to $543 by the end of 2030.
Coin Price Forecast predicts that LTC will reach $296.18.
Does Litecoin Have a Good Future?
If you trust most of the experts, litecoin does, indeed, have a good future in the crypto market. Although it is not within the top 10 most popular or most-traded cryptocurrencies, it is widely accepted and easy to trade.
It has a market cap of roughly $3.38 billion in mid-July 2022, and ranks No. 20 in volume based on the market cap compared to all cryptocurrencies traded today.
But is litecoin the next bitcoin? The answer is probably not. No alt-coins have approached bitcoin’s influence in the crypto world. At its highest, litecoin was trading at $414 in May 2021. This doesn’t even come close to bitcoin’s all-time high of nearly $69,000 in December 2021.
And, as the crypto market plummets of late, with bitcoin down 71% from its all-time high, LTC is falling, too.
That doesn’t mean it’s a bad long-term investment, though. The company that runs the blockchain has strong fundamentals, a solid reputation and a useful offering with a network that provides security, accessibility for smaller miners and fast transaction speeds.
Should You Buy Litecoin Now?
If you believe most of the experts that litecoin is set to rise over the next decade, you’ll want to get in while it’s several hundred dollars away from its historic high. However, future gains aren’t guaranteed, and you should never invest more than you can afford to lose in any deal, whether you are investing in cryptocurrency or meme stocks.
If you are prepared to buy and hold litecoin for the long haul, you could stand to gain a lot of money from a small investment. But keep in mind that the crypto market has lost much of its value in recent months, and litecoin is among the coins dropping in value.
Market downturns are often the perfect time to invest, when you can buy crypto or stocks you believe in at a lower price. But you must be willing to hold through the dark times to realize potential profits in the end. And then, of course, it’s a risky trick to try to gauge the high point — or at least a point that’s high enough for you — to cash out on your investment.
If you’d like to invest in bitcoin but don’t have enough cash to make a difference considering the price of the coin, litecoin can be a good alternative for investing in cryptocurrency.
If you’re looking to buy litecoin, you can do so easily using your Venmo balance or with the balance in your bank account tied to Venmo. You can also purchase litecoin through one of the crypto exchanges like Coinbase or Kraken.
Remember, don’t invest more than you are willing to lose, since the future of crypto — as with any investments — is uncertain.
Daria Uhlig contributed to the reporting for this article.
Information is accurate as of July 13, 2022.
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