Crypto

Litecoin Price Prediction: Is It Time To Buy?

Middle eastern woman tracking and trading stocks using laptop and desktop computer.

FatCamera / Getty Images/iStockphoto

Litecoin (LTC) is a cryptocurrency that was launched shortly after Bitcoin. The “gold standard” of cryptocurrencies, Bitcoin, was revealed to the world in 2009, with Litecoin following in its footsteps in 2011. Litecoin is often called the “silver” of Bitcoin gold and is accepted as a form of payment. in more places than many other altcoins.

Litecoin is one of four cryptocurrencies that users can buy and sell on the Venmo payment platform, along with Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. To trade most cryptocurrencies, users must open an account with a cryptocurrency exchange such as Coinbase, Gemini, eToro, or Kraken, which were rated by GOBankingRates.com among the top 8 cryptocurrency apps. You can also trade Litecoin on any of these exchanges.

CRYPTO OFFER: Buy Bitcoin and cryptocurrencies instantly! Sign up to Gemini Crypto Exchange and start investing with as little as $100 today.

Just like other cryptocurrencies, you can invest in Litecoin. You can also mine Litecoin, which means you’re verifying transactions to help the blockchain work quickly and efficiently, earning coins in return for the computer processing power you’re providing.

Litecoin processes transactions faster than Bitcoin, making it ultimately viable as a common medium for everyday transactions. It also has a larger circulating supply, which helps in its widespread adoption, but also keeps its value below that of Bitcoin, according to NerdWallet.com. The more coins there are in circulation for any currency, the lower the value as there are more to go around.

The maximum circulating supply of Litecoin is 84 million coins, while Bitcoin has only 21 million coins.

What makes Litecoin so special? And, most importantly, what is the Litecoin price prediction? How much will Litecoin be worth in 2022 and beyond?

A brief history of Litecoin

Litecoin was developed from a fork in the Bitcoin blockchain, making it very similar to the world’s largest cryptocurrency by market capitalization. Since the cryptocurrency was originally developed as an alternative payment method, the developers of Litecoin hoped to further democratize crypto mining, taking it out of the hands of the largest companies to disburse the wealth.

However, Litecoin failed to keep corporate miners away, but managed to become a widely recognized and respected alternative currency. Founder Charlie Lee, a former Google engineer, first released 150 pre-mined Litecoins to the world in 2011. As of April 2022, only 14 million of the 84 million Litecoin coins remain to be mined.

The blockchain was designed so that as supply decreases, new coins are created more slowly to preserve the value of Litecoin. 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 the halving and supply of the coin still leaves unanswered questions. For starters, how much will Litecoin be worth in 2022?

How much will Litecoin be worth in 2022?

On June 13, 2022, Litecoin is worth $43.89 USD per coin. The value of the coin fell almost $4, more than 8%, on June 13, which is in line with the general crypto market downturn. In the last month, it’s down more than 35%, or almost $24.

Bitcoin fell more than 12% on June 13, losing $3,355. In the last month, from mid-May to mid-June, Bitcoin fell more than 20%.

Litecoin started life worth around $3 per coin and eventually gained 140% of its value by 2020. At the end of 2021, LTC closed at $146.51, more than triple the value it had in June 2022. But this can hardly be considered a drop for Litecoin as the entire crypto market is down in 2022.

Overall, the widespread acceptance of Litecoin, particularly for small peer-to-peer transactions, along with the expected integrations and partnerships, bodes well for the coin. Developer Charlie Lee recently introduced confidential transactions, making Litecoin even more attractive to consumers and, as a result, investors.

In early June, the Changelly blog predicted that Litecoin will go up for the rest of 2022. The site pegs its year-end minimum cost at $80.43, with a possible maximum of $94.71. And Changelly is just one of the sites optimistic about the future of Litecoin.

CoinPriceForecast.com believes that Litecoin will reach $50 in the middle of this year, which is close. The June 13 price isn’t too far off $50. However, the site is not as bullish as Changelly and believes that LTC will peak at $55.32 by the end of 2022.

Tradingbeasts.com is similarly bullish on Litecoin for 2022, estimating a low price of $46.52 by the end of the year, with a high of $68.41, which would represent 26.68% growth.

On the other hand, Longforecast.com does not have such a good short-term forecast for Litecoin. The site’s Litecoin price prediction is that it will fall rapidly, losing up to 77% of its value by December 2022. That would take the coin to a range of $14.45 to $18.50.

How much will Litecoin be worth in 2025?

Jumping to 2025, Litecoin seems to have a bright future. Changelly predicted that Litecoin could hit $295, with a low of $250.15.

CoinPriceForecast.com is also bullish, stating that the value of the coin will rise steadily through 2025, peaking at $98.71 by the end of the year.

Tradingbeasts.com believes that Litecoin will rise by about 57%, reaching a high of about $85 and hitting a low of $57.79 in January. It will break $100 per coin in October 2025 and end the year up 93%, with a maximum price of $104.35.

LongForecast.com, on the other hand, predicts that LTC could lose as much as 66.6% by the end of 2025, eventually settling at $22.82.

Where will Litecoin be in 5 years?

Leading forecasters show LTC following a positive trajectory for the next five years. It could reach $115.79 by the end of 2027, according to CoinPriceForecast.com.

Changelly takes a very optimistic view and predicts that Litecoin will reach an average of $527.48 within five years, with a possible high of $642.78.

Again, Longforecast.com is bearish on the coin, thinking it could drop as low as $8.48 in 2026, the last year for which the site published a Litecoin price prediction.

What is the Litecoin price prediction in 10 years?

It’s hard to look 10 years from now with any cryptocurrency prediction. It is important to note that Litecoin is a highly volatile speculative investment, just like any altcoin and even Bitcoin. LongForecast.com, seeing Litecoin finally crash, might be right.

But most expert analysts see Litecoin climbing steadily over the next decade.

Again, Changelly has the most aggressive bullish predictions. The blog predicts that Litecoin will reach a maximum price of $2,723.71 by 2031. That means that if you invested just $100 in LTC in mid-June 2022 at the price of $43, you would have $6,353.74 by 2031.

Trading-education.com is even more bullish on Litecoin, predicting a jump to $4,028 by the end of 2030.

CoinPriceForecast.com predicts that LTC will see gains of 206% by 2032, reaching $130.71.

Does Litecoin have a good future?

If you trust most experts, Litecoin indeed has a good future in the cryptocurrency market. Although it is not among the top 10 most popular or most traded cryptocurrencies, it is widely accepted, easy to trade and still lucrative for mine.

It has a market cap of approximately $2.9 billion as of mid-June 2022 and is ranked #20 in volume based on market cap compared to all cryptocurrencies traded today.

But is Litecoin the next Bitcoin? The answer is probably no. Not even altcoins have been able to come close to Bitcoin’s influence in the world of cryptocurrencies. At its highest point, Litecoin was trading at $412.96 in May 2021. This is not even close to Bitcoin’s all-time high of $69,000 in December 2021.

And, as the crypto market has slumped of late, with Bitcoin down 65% from its all-time high, LTC is also falling. However, that doesn’t mean it’s a bad long-term investment. The company running the blockchain has strong fundamentals, a strong 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 that most experts believe that Litecoin will only rise over the next decade, you will want to enter while Litecoin is several hundred dollars away from its all-time high. GOBankingRates.com highlights Litecoin’s relative stability compared to other cryptocurrencies as a huge benefit.

On the other hand, now is a good time to mention that you should never invest more than you can afford to lose in any trade, whether you are investing in cryptocurrencies or meme stocks.

If you are prepared to buy and hold Litecoin for the long term, you could make a lot of money with a small investment. But keep in mind that the crypto market has lost more than 50% of its value in recent months and Litecoin is among the coins that lose value.

Market downturns are usually the perfect time to invest, when you can buy crypto or stocks you believe in at a lower price. But you have to be willing to put up with the dark times for potential profits in the end. And then, of course, it’s a trick to measure the highest point, or at least a point that’s high enough for you, to get a bang for your buck.

If you want 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 entry point for investing in cryptocurrencies.

conclusion

If you are looking to buy Litecoin, you can easily do so using your Venmo balance or with your bank account balance linked to Venmo. You can also buy Litecoin through one of the best crypto exchanges including Coinbase or Kraken.

Remember, do not invest more than you are willing to lose, as the future of cryptocurrencies, like that of any investment, is uncertain.

Information is accurate as of June 14, 2022.

Our in-house research team and on-site financial experts work together to create accurate, unbiased, and up-to-date content. We verify every stat, quote, and fact using trusted primary sources to make sure the information we provide is correct. You can learn more about GOBankingRates processes and standards in our editorial policy.

About the Author

Dawn Allcot is a full-time freelance writer and content marketer with an interest in finance, e-commerce, technology, and real estate. Her long list of publishing credits includes Bankrate, Lending Tree and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology, and entertainment website. She lives on Long Island, New York with a veritable menagerie of wildlife that includes 2 cats, a naughty kitten, and three lizards of varying sizes and personalities, as well as her two sons and her husband. She finds her on Twitter, @DawnAllcot.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button