In this article, we will look at the latest litecoin price prediction for and beyond — and examine whether any of the previous forecasts for the coin turned out to be right. We will also tell you a bit about litecoin itself, as well as examining its recent price history.
Litecoin was founded in by former Google programmer Charlie Lee. Lee thought that one of the problems with bitcoin was that transactions could take longer than they should have done. Lee created a hard fork of bitcoin and installed a new consensus mechanism, called scrypt proof-of-work, which at least in theory is significantly faster and means it uses less energy, and, perhaps as importantly for potential investors, is theoretically cheaper to use.
The way it works is that Litecoin splits every transaction into two parts, removing the signature from the original data. This, theoretically speaking, reduces the time to confirm payment from 10 minutes to around two-and-a-half minutes. Litecoin is an open-source, global payment network that is fully decentralised without any central authorities.
With substantial industry support, trade volume and liquidity, litecoin is a proven medium of commerce complementary to bitcoin. While past performance is no indicator of future results, knowing what LTC has done in the not-so-distant past can give us some useful information if we want to either interpret or make a litecoin price prediction.
Things started to change in late October This had long served as a psychological barrier for traders, but the bull run was far from over. The first few months of were even more encouraging for LTC. There was still time and space for litecoin to grow, though. On 30 March , litecoin started to be accepted on PayPal. This was the real coming out party for the cryptocurrency, and its value started to rise. Since then, things have got worse.
On 17 January , crypto intelligence platform Santiment reported that, in bullish on-chain metrics, whales have been quietly accumulating litecoin in the longest streak since You voted bearish. You voted bullish. At around the same time, Litecoin upgraded its privacy-based decentralised protocol Mimblewimble, named after a a tongue-tying spell in the Harry Potter books, to the protocol, by way of the Mimblewimble Extension Block, or MWEB.
Going forward, investors can expect LTC to climb higher as the crypto markets flip bullish. Whatever plans LTC crypto whales may have had, they did not seem to have much success in pushing the price up. There was then something of a return to form. At that point, there were about We do need to point out here that cryptocurrency forecasts are often wrong, especially in the longer-term.
Always remember, a litecoin price prediction is no subsitute for doing your own research. The positive forecasts above, coupled with the fact that there is some way to go before it reaches an all-time high, suggest that LTC has some potential for growth, even if there is every possibility that things will get worse before they get better.
However, there is also the potential for stagnation or, worse, a crash. Remember that cryptocurrencies are highly volatile, and that prices can go down as well as up. Long Forecast. Coin Price Forecast. Digital Coin Price. The linear and polynomial regressions model is used for Litecoin prediction.
Trading Beasts. As per the technical analysis, the resistance and support levels are affected by other factors in the crypto market. Pandemic had done no discrimination when it comes to currencies. Most fiat currencies, as well as other investment avenues, had met with the same unfortunate fate. Many investors are still apprehending the clash of the remaining titans, considering whether it is really worth investing in Litecoin.
Even though the price of Litecoin has shown tremendous sustaining performance in the last year, many gurus feel the bull run could be distant as per the Litecoin price prediction and the technical analysis. After reaching the All-time high on May 10, , the coin has been unable to cross that level or even come close to it.
The current price is quite close to the immediate support level, it is very important for LTC to sustain that level. With that being said, here are some Litecoin price predictions for the long and short term:. However, the beginning of has not been much profitable. Somewhere between the past year to , a fall in Litecoin price could be seen.
For the first half of , it has been trading sideways with no major ups and downs. Currently, the Bollinger bands are squeezed and the volatility is quite less. RSI is also moving in the downward direction towards the oversold zone. The current scenario is not suitable for a short-term investment. However, the current prices are quite suitable for long-term investment. Given the acceptance of Litecoin and other cryptocurrencies by more and more people in recent times.
Investing in the pool can turn out to be a good investment in the long run. There could be some significant changes in industry scenarios, market positions, economic overruns, policy restructuring, or any other political reason for the coin to host its performance on exchange. LTC, however, is known to be resilient and consistent. Global economics may too have its own effect on Litecoin price movement, but so far, the one-year litecoin prediction seems to be optimistic.
Region-specific changes too affect the price of LTC and its market cap. Hence reaching toward its futuristic goals, one thing that can be guaranteed about LTC is that the stars are bright for this asset. Having revolutionized the entire global page of transactions, LTC embarks on the voyage of leaving a remarkable footprint on this ecosystem. Litecoin seems to be racing to set a record affirming its position showing stability.
A larger part of this cryptocurrency is coming from technological rapid-fire transaction processes backed by robust technological innovations, sure aiding Litecoin price prediction towards a positive end. For the past two decades, Litecoin has single-mindedly focussed on being the paradigm asset that has positioned itself as a trusted brand for investors and traders alike.
Across the markets, it has gained a reputation for which it has constantly strived hard and non-stop. This allows high-net-worth investors and institutional accounts to gain access to Litecoin. This has acted as a morale booster for the entire retail and institutional investor community to use LTC. Hence the long-term horizon for Litecoin price prediction definitely looks bright as it is eager to adopt privacy protocol seeking partners like Mimblewimble.
If all goes fine, the world may offer massive gains on the leading network, a development that would act as a catalyst for the progress of Litecoin LTC. It is expected to grow in the next five years as per market price predictions. Yes, according to future price forecasts, the Litecoin price is going to increase.
Based on the data, it can be predicted that it is profitable to invest in Litecoin from the long-term price perspective. Many trading web platforms and crypto exchanges such as atomic wallet, Litecoin wallet , CEX. Register yourself with your KYC credentials and transact via any of your Master or Visa credit cards. Post verification, your altcoins are transferred to your LTC wallet.
All in just 30 minutes! Your passkeys to reach the cryptocurrency wallet stay saved on your smartphone. Furthermore, you can quickly control all of your Litecoins. Being listed on major exchanges, the best part about LTC is that it can be traded on a variety of noted crypto and fiat exchanges. Remember, cryptocurrencies are subject to volatility in markets, so bonding sentiment plays a pivotal role here.
Investors are advised to do their own due before investing in any currency. Both coins have unique features and come with their own merits and demerits. Both have their ruling realms of their own, where they are the doyens of their territory. Bitcoin has lost 9. The optimistic forecast correlates to the positive outlook of the long-term earning potential of Litecoin cryptocurrency.
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Yes, according to future price forecasts. Experts expect the Litecoin future to be bright in due to all integrations and partnerships. In addition, the Litecoin community is very active. Like Bitcoin, Litecoin is a cryptocurrency with enormous long-term projected growth. This helpful Litecoin Price Prediction guide will help investors.