Bitcoin is the one of the world’s first and well-known cryptocurrency in the world. However, it is not the only one. Litecoin is a less well-known cryptocurrency that was created in 2011 as a Bitcoin fork. Litecoin, which is also a peer-to-peer digital currency, uses a different algorithm than Bitcoin, which allows for faster transaction confirmation times and improved storage efficiency.
Litecoin is a cryptocurrency introduced as open-source software in October 2011 by a group of employees from Google. The price leaped from $4.32 to $48.44 in the course of six months from August 2017 and had reached $57.09 by September 1, 2017. Then just a couple of weeks later, it hit its highest trading price of $72.69 on November 12, 2017, before ending the year around the $400 mark.
Litecoin is one of the most popular cryptocurrencies on the market, often referred to as a more direct competitor to Bitcoin. Having started out as a fork of Bitcoin, Litecoin shares many of its characteristics but also has some major differences.
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Why is Litecoin better and different than other coins?
Bitcoin was the first cryptocurrency to gain widespread acceptance, sparking an industry of altcoins eager to improve upon its original design. However, most of the big crypto coins like Bitcoin, Altcoin could not become people’s first choice after being released. Litecoin was the first and the best coin to do so. It successfully gained its root from the initial boost, making it different from Bitcoin and a better financial asset for long-term growth.
Further, this guide will help investors make a better understanding of Litecoin’s long-term potential. It will also give them a more accurate long-term price forecast.
What is Litecoin?
Charlie Lee is a former Google engineer who created Litecoin. He sold off his shares in the last bubble of cryptocurrencies to avoid a potential conflict of interests. Despite being designed by Lee, Litecoin has many differences from Bitcoin (specifically the first cryptocurrency), including that it is the first coin to adopt Segregated Witness and was the first to implement Lightning Network capabilities.
Litecoin was designed to offer a cheap and simple alternative to Bitcoin, a much more expensive and complicated cryptocurrency. Litecoin has since grown to become a leader in the cryptocurrency space, with leading trade volumes, transaction counts, and market capitalization. Its unique selling points are low fees, fast transaction rates, and secure ownership, which underpins its value as a store of value and means of exchange.
Litecoin Price in 2021
Price analysis reveals that Litecoin is gaining favor as a digital currency choice, and the current trend suggests that this trend will continue. With a total network value of $1.3 Million as well as a total volume traded daily of $12 Million, this currency is in high demand.
Considering the gold: silver ratio of 6:1, it could easily reach $60 per LTC by 2021 if not higher, before another 6x growth to 1000$ per LTC in 2028 on its path to becoming the global payment method for peer-to-peer transactions, once Bitcoin becomes too expensive to spend in a regular day.
Litecoin is a small-cap coin in the cryptocurrency world, so it’s subject to wild price swings. If you’re looking for a good risk vs. reward investment opportunity and you have a long-term investment philosophy, Litecoin might be worth a look.
Finder predicts that the worth of a litecoin will grow to $266.43 by 2021 end. This is significantly more than the digital currency was worth back in March when it cost less than $50 per coin to buy.
Litecoin Price Prediction 2023
What do you think will happen to the price of litecoin in 2023?
The Litecoin price is expected to reach $271.04 by 2023. This will be the culmination of a process that started with the previous bull market that peaked in December 2017. In early December, when a new all-time high was set at $375, Litecoin entered a bear market.
As with previous peaks throughout the history of Litecoin, there are Fibonacci ratios between major historical levels and how much they decline during this bear market.
Litecoin Price Prediction 2025
The Litecoin halving will take place in August 2023, a technical change that can be tracked by the litecoin mining reward schedule. For example, if it is currently taking 10 Litecoin to create one Litecoin block, once the litecoin halving has occurred, it will then take only 5 Litecoins to create the next block (other cryptocurrencies have different approaches).
In addition to the background analysis, a table shows Litecoin price predictions from four leading crypto experts. Blockchain Capital Partner Spencer Bogart is the most bullish, making a prediction of $400 for December 2025.
Litecoin Price Prediction 2030
CoinPrice Forecast is one of the few websites that creates a Litecoin price forecast, updated daily. CoinPriceForecast predicts the crypto-coins market will be worth $84B by 2030. That’s up from about $125B today. It relies on historical data to correlate digital currency prices with factors such as Google Trends, Bitcoin interest, and venture funding.
By 2030, it is forecast that $LTC/USD will be between $968 and $1,003 per 1 Litecoin. Key drivers of this price include the market penetration of cryptocurrencies, with Litecoin being a reliable option for businesses that want to increase their client base.
Should I invest in Litecoin currency?
Still, wondering whether you should invest in litecoin or not? You aren’t the only one. Many investors are looking for answers, and some of the most informed ones are turning to experts for their opinion on litecoin projections.
Although projections vary from expert to expert, there seems to be a consensus that litecoin is headed in the direction of future growth. One forecaster predicts a $154.50 value per LTC by December 2021.
