technical analysis and price prediction of litecoin

Litecoin Price Forecast: Expert Analysis and Predictions

Litecoin is an altcoin or cryptocurrency developed by Charlie Lee in 2011. It is an open-source code similar to Bitcoin. It is used as a text for improvements later implemented on Bitcoin. It is a silver coin to Bitcoin’s gold. It is a digital currency that can be traded peer-to-peer without any intermediaries. The transactions are secure, fast, and affordable. Most of the development of Litecoins comes from Bitcoin, and thus, it requires minor efforts. A Litecoin network generates a new block every 2.5 minutes; however, Bitcoin takes 10 minutes. 

History of Litecoin (LTC)

It is the first altcoin derived from the original open-source code of Bitcoin. It once strongly competed with Bitcoin. Due to saturation in the crypto market, Litcoin lost popularity among investors and traders.

During the launch announcement, the token was even called the “lite version of Bitcoin”; hence, it has many features similar to those of Bitcoin. The circulation of Litecoin is fixed at 84 million tokens.

Due to its predictable and finite supply, Litecoin is considered a scarce asset. This scarcity makes the coin more valuable and is responsible for its value. 
It is traded on every major exchange.

  1. In the crypto bull run of 2017, the price of Litecoin rose from $5 to $350.
  2. In the crash of 2018, the price fell 93%, stabilizing the token at $30.
  3. In the bull market of 2020, the price increased by 170%, stabilizing the coin at $350. 

Litecoin Price Prediction for the Year 2024 

As traders and investors are taking more interest in cryptocurrency and continuously looking for the best investment options, Litecoin can be a good option. 

  • Litecoin can reach a high of $76.36 by the end of 2024.
  • The coin, on the other side, can downgrade to $46.23.

What will Litecoin be worth in 2025?

  • If the token successfully maintains its momentum, it could reach a high of $271.92.
  • On the downside, the coin can even reach a low of $53.50.

How high will Litecoin go in 2030?

  • The coin could reach $785.52 on the high end in the coming seven years.
  • The coin can drop to $739.98 on the lower side in 2030.
  • The average price of a coin is $763.25. 

Litecoin price forecast for the year 2040

  • Based on a long-term price forecast, by 2040, Litecoin can significantly prove itself by making an all-time high of around $2,327.93. 
  • The average price of a coin could hover around $2,280.
  • On the bearish side, the coin could fall to $2,219.95. 

Litecoin Technical Analysis Overview

Since Litecoin is carved out of Bitcoin, its fluctuation pattern heavily depends on it. In 2015, the coin was at its all-time low with a value of $1.11, and in 2021, the coin even touched its all-time high at $359.26. The price of Litecoin is currently stable. The current market cap as of October 2023 is $4.53 billion. It will be the 15th largest crypto in October 2023.

Read Also:

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  5. Hex Coin Price Prediction

Olivia Johnson 16 Oct, 2023

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