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In this essay, we aim to provide Litecoin price prediction in 5 years for traders who may have an interest in yet with not much knowledge about the coin.
Over the past decade, Litecoin has managed to obtain a foothold in the financial market. As one of the top-ranked cryptocurrencies, Litecoin draws more and more attention, because its features and potential value are proved to earn traders high profits. How valuable will Litecoin be in the future? Traders may ask. Let’s anticipate Litecoin’s value via predicting its price in long term.
What is Litecoin (LTC)
Charles, a former Google employee who later became Engineering Director at Coinbase, created Litecoin in 2011. It shares many features with Bitcoin, such as Segwit, Lightning Network, because it is a fork of Bitcoin. Thus on the basis of an open-source global payment network, Litecoin does not subject to any central entity.
However, there are some aspects distinguishing Litecoin from Bitcoin. On confirming transaction speed, Litecoin is four times faster than Bitcoin in producing blocks with 2.5 minutes, while Bitcoin takes 10 minutes in the same process. Additionally, rather than Bitcoin’s algorithm with SHA-256, Litecoin adopts Scrypt as an algorithm based on the use of mining hardware such as ASIC miners or a GPU mining rig. With its advantages over Bitcoin in technology, Litecoin can serve as a testing ground to improve Bitcoin.
Generally speaking, Litecoin is secure in the transaction, fast in payment, and low-cost and effective in LTC mining.
As of now, Litecoin has a market cap of about $11 billions and a fully diluted market cap about $13.4 billion, and trading at $160.71 on Novewber 7th, 2021. Like other dominant cryptos, LTC is available to be traded both on mainstream exchanges such as Binance, Coinbase, OKEx, etc. and on promising exchanges like Bexplus. Nowadays, Litecoin is distracting traders’ attention and is increasingly wide-accepted around the world with its rising value and profit.
Though Bitcoin is the largest coin in the market, attracting more than half of crypto traders to put money in it, its juicy profit is much more competitive to earn and is dangerous along with huge loss. If for you Bitcoin bears risks too large to lose a huge amount of money for its high value (about $45,000 at the writing time), Litecoin called the silver to Bitcoin’s gold, can be a choice to lessen investment damage and diversify your portfolio.
Litecoin’s History Price 2017-2020
Before doing the Litecoin price prediction, We should learn more about Litecoin’s history.
LTC Price History of 2017 and Previous
Open price:$4.364 Close price:$225.40
From its beginning in 2011, Litecoin’s development was as quiet as dead water.
Staying at a low of few dollars for 6 years, except for a small bump attempting to reach 50$ in 2013, its price made no movements. Eventually, it skyrocketed at a startling pace in 2017. What drove the rally? Reasons are various behind the rise. Looking back on history from today’s stance, the basic one was the dramatic increase of people’s interest in Litecoin. Charlie Lee posted on Twitter a chart of the volume of various cryptocurrencies, showing that Litecoin’s trading volume was 20% more than Bitcoin’s on December 12th,2017. Also the same year, Litecoin was listed on Coinbase, which is one of the largest crypto exchanges.
But there were detailed events that directly affected Litecoin’s price.
In March, Litecoin saw a boost attributed to the introduction of Segregated Witness (SegWit), which helped it reach 16$.
In May, Litecoin obtained a small surge to reach $30 for the launch of the protocol, which attracted more interest from traders.
From November to December, Litecoin took advantage of the crypto market’s boom to hit a record high at around $371 on December 19th. The crazy rise gained it a 500% increase in 2 months.
Open price: $225.68 Close price: $30.961
2018 did not treat Litecoin well. It almost lost all it earned in 2017. In fact, the whole crypto market loomed over a downtrend.
In January, Litecoin started the new year with a 12% drop to $244, which was the sign of the bear trend.
From March to April, Litecoin was unable to get rid of the bearish control and further slid to trade between $110 to $60.
In late December, Bitcoin crashed overnight without any catalyst, dragging down all the cryptocurrencies. Litecoin dropped more than 30% to around $20. It is time that “fear, uncertainty, and doubt” gripped the market.
Open price: $30.995 Close price: $41.415
A halving took place in summer this year, which resulted in the mining reward splitting twice from 25 LTC to 12.5 LTC. To harvest maximum profit, miners did not sell as much amount of LTC as usual, thus causing a shock supply. Eventually, Litecoin made the price swing upwards for the first half of the year.
In early January, the slight bullish sentiment took Litecoin up to roughly $30. Two months later, Litecoin furthered its uptrend to climb $58.
In June, Litecoin was trending forward an optimistic direction to make a 13-month high to flip $150. But after this bullish period, a bear market dominated the second half of the year, taking almost 50% of Litecoin’s price and leaving it back to $50.
In December, after the long dark cold winter, Litecoin’s price finally reached 3 figures to be around $103, which was its highest since Aug, 5th.
Open price: $41.368 Close price: $124.20.
Overall, Litecoin price movements in 2020 were quiet or stagnant.
January to February, the first month started at about $40. But the second month saw a double increase to $80.
Dark March, the breakout of Covid 19 smothered the bullish sentiment.
In late October, things started to change after the rampant crash by covid 19. Litecoin followed other soaring cryptocurrencies to move forward, finally breaking the $50 resistance level which kept about 10 months to daunt traders.
For the last two months, Litecoin managed to go up 60% and reach a 52-week high at $123. It took advantage of the uptrend to close the year at $128.
Litecoin History Price Summary
Based on the detailed past prices of Litecoin, we can learn about its history price trajectory.
The chart below is the detailed history price of Litecoin from 2027-2021.
|Year||Maximum price||Minimum price|
|Jan-Aug 15th 2021||$413.46||$104.0|
Litecoin(LTC) Price Prediction
Overall, we can see the great potentiality in Litecoin’s value from the unstoppable marching pace of the whole crypto market. On the other hand, volatility is an inherent part deep in cryptocurrency, so it’s not easy to predict their detailed future movements. But there are some rules for the price trajectory and the events in the future would help us make a rough prediction about where Litecoin will go in five years.
Litecoin(LTC) Price Prediction in 2021
Open price: $124.26
The first part of 2021 witnessed the most bullish moments for the whole crypto market. During this period, almost all cryptocurrencies surged with Bitcoin, the biggest cryptocurrency, which hit an all-time high at $65,000 in April to push the crypto market cap to surpass $2 trillion.
Keeping the upward momentum from late 2020, Litecoin escalated stably from January at $130 to February at $200. On March 30th, Paypal, the globally largest payment giant announced to accept several leading cryptocurrencies as payment, with Litecoin among them. The news slightly boomed it to generate a lot of interest.
On May 12th, Litecoin surprisingly hit an all-time high at $377, a history record since 2017.
However, it tumbled more than half of the price to $120 in July. The bearish sentiments dominated the whole market till the end of July. Litecoin slowly and steadily moved up and trading at $170 on 13th August.
In recent days, the central concern about the prediction is what hinders Litecoin to flip $200. The 100-day moving average at $174.42 is quite tough to overcome for Litecoin and 200 DMA at $191.87 adds to the obstacles in the path to $200. Experts analyzed that where Litecoin will go next is closely related to Bitcoin’s performance. In one way or another, Bitcoin has a significant impact on the whole crypto market.
In the near future, Litecoin will surrender the $200 level to take $250 as support if Bitcoin strengthens its momentum, but if not, it will fall back to $150 as a support level.
For the rest part of 2021, a positive future is waiting ahead. Two convincing pieces of data will prove this. Firstly, the increasing trade volume indicated trades’ turn back to buy Litecoin, being a typical bull sign.
Secondly, the Litecoin addresses are very active according to David Schwartz, who is a co-founder of Hedge, a platform selling cryptocurrencies. He posted Litecoin’s address chart to show the active address of Litecoin doubled from July 31st to August 6th.
In a word, most analysts make an optimistic prediction that Litecoin will hit a new high at around $400 by the end of 2021.
Litecoin(LTC) Price Prediction in 2022
The financial analysts of Bexplus pointed that the ASI (accumulative swing index) shows that Lietecoin was not as volatile as Bitcoin since 2018. That is to say, its relatively steady feature will be something that contributes to future rise. Litecoin is expected to start at $310 for the strong bull momentum that lasts from late 2021. After the bull, a new bear market will ensue and Litecoin will take $330 as a support level. In mid-2022, Litecoin will smoothly rise to $387, attempting to test $400. Of course, it will not keep going up all the way, but the direction will definitely be upward. By the end of 2022, Litecoin will probably close the year at around $600.
Litecoin(LTC) Price Prediction in 2023
In essence, the adoption decides the value of the currency itself. With the wide acceptance of cryptocurrencies as payments by platforms such as Visa and Paypal, they will eventually become as mainstream as dollars. As one of the top-ranked cryptocurrencies, Litecoin is not ignorable. Despite Litecoin’s price will overwhelm its rival cryptocurrencies at this moment, it has advantages on payment. Furthermore, another halving of Litecoin will happen in 2023 cutting the block reward to 6.25 LTC. The halving will probably promote investments in expectations of a higher value. By the end of 2023, Litecoin’s price is predicted to be $900.
Litecoin(LTC) Price Prediction in 2024-2025
The development of cryptocurrencies especially Bitcoin is compared to Gold’s in the 1970S. From the below picture, we can see that Bitcoin in 2024-2026 corresponds to Gold in 1976-1978. During this timeframe, cryptocurrency will most likely perform as Gold did. So, Litecoin is expected to be stagnant in 2024-2025. But in this year, Litecoin may stay ahead of most of its rivals and be a more competitive cryptocurrency. However, the popular use of cryptocurrency will also ensue increasing financial attacks which are even serious in 2021. At the same time, regulatory rules from countries around the world would also exert both positive and reverse impacts on Litecoin. For the whole 2024, Litecoin will swing around $1000. By 2025, Litecoin may not take a big leap but slightly move to $1200.
Litecoin Market Prediction
Coin Price Forcast
According to Coin Price Forecast, Litecoin’s price will raise16% to reach $210 by the end of 2021. In the first half of 2022, the price will climb to $235; by the second half of this year, the price would add $71 and close the year at $306, adding +69% to the current price. Furthermore, In 2023 Litecoin will start at $306 and witness a soar to $375 by June. The year is going to end at $443. That means +145% from today.
Analysts predicted that Litecoin’s price will be in the range from $260 to $285 when 2021is end. According to Ripple News, Litecoin has the hope to cross the $500 mark by the end of 2025 based on the wide adoption. But for the volatility of the market, it may stay in the range between $380 and $489 in the next five years.
From the data about price prediction on Trading Beast, Litecoin will not continue the bullish trend from August, but it will not pump either. The price will dance between $160–$200 in October and November. By December, things will not change, the price to close the year will be $161.724.
The first half of 2022 will continue the price set in late 2021, with the minimum price at $130 and the maximum price at $170. However, a bear market will take control in the second half of the year, and Litecoin will take $150 as support to finish 2022. 2023-2024, Litecoin will keep going up at a slow pace and its average price will break $200 by the later part of 2024.
Litecoin Price Predicted Summary
According to the forecast about Litecoin’s price in 5 years, it is expected to keep the uptrend. The predicted price may not be the exact price of the future, but a closed price, serving as a guide for traders’ investment.
The chart below is the exact predicted prices of Litecoin from 2021-2025 based on our prediction.
|Year||Maximum Price||Minimum Price||Average Price|
|Second half of 2021||$400||$130||$219|
How To Mine Litecoin?
In general, cryptocurrency mining depends on something like hardware, software, operating system, and pool. To mine Litecoin, you’ll need a Litecoin miner – a powerful GPU or CPU. In addition, there are three ways for you to mine Litecoin.
Solo mining: It means not sharing both the rewards and costs generated in the mining process.
Joining a ming pool: It means all miners in a pool have to pay an entry fee. Meanwhile, they can benefit from each other’s mining power to earn higher profits.
Cloud Mining: If you don’t have ming hardware, you can still mine Litecoin by paying a cloud mining company. What you need to do is to carefully choose a mining package and mining pool. Furthermore, you may read more article on how to mine Litecoin.
How To Buy Litecoin?
First of all, you need to open an account on a crypto exchange such as Binance, Coinbase, and Bexplus. Then you need a wallet to hold your LTC. This can be a cold wallet or a wallet linked to the exchange. Lastly, you can buy LTC with fiat money.
Litecoin vs Bitcoin: Which is more potential In The Future?
At the time of writing, Litecoin’s market cap is $11,812,571,411, while Bitcoin’s market cap is $870,573,224,574. It is clear that the probability is small for Litecoin to surpass Bitcoin by market cap for the short run. But as the mentioned advantage of Litecoin over Bitcoin in technology, the former will be more advanced to be used as a common payment currency. Therefore, if Bitcoin can not overcome its mining mechanism, it will possibly be taken place by Litecoin. In addition, with the halving in 2013, Litecoin may have a surprise surge to battle Bitcoin.
Since they are very different in various aspects, you should know more about the differences between Bitcoin and Litecoin before making an investment.
How High Will Litecoin Go?
Piles of data show a strong bullish future for the crypto market. The huge demand for leading cryptocurrencies such as Bitcoin, Ethereum, and Litecoin will most likely trigger Litecoin to rise to more than $10,0000.
Is Litecoin a Good Investment?
Compared with its rivals, Litecoin is steady and has a larger room for growth. Apparently, investing in Litecoin will be more and more appealing for its skyrocketing monetary value. Even by the end of 2021, it will be much higher than now. Before its price increase several times, you can accumulate it when the price is low.
So there you have it, Litecoin has strong potentiality as a trading currency. If you would like to trade Litecoin, a credible exchange is necessary. Bexplus is a recommendation for its reputation among traders.
How To Trade On Bexplus
Trading crypto futures on Bexplus is easy. Once registered, you will have a 10 BTC demo account to get familiar with the platform, a trading account to earn your real profit, and a wallet account to get up to 21% annual interest.
No KYC. Just simply click sign up to enter an email address, the verification code you received, and set up a password. Then you can start your journey on Bexplus. After making a deposit, you can apply for a 100% deposit bonus.
After becoming a Bexplus user, you can trade BTC/USDT, EHT/USDT, LTC/USDT, DOGE/USDT, and XRP/USDT with 100x leverage. Bexplus also offers market analysis, notification of the market changes to keep you updated.