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Litecoin Price Prediction 2022-2031: Will LTC Price skyrocket?

litecoin

The world is going through a paradigm shift as cryptocurrencies stand at a decisive phase that will define their future. The same holds for Litecoin, which has been tumultuous as world politics are transforming the markets. Litecoin’s blockchain system came to the market as the facilitator of payments via the internet. Others like Bitcoin served the same purpose, but this one had some additional pros. It reduced the confirmation time, increased the transaction speed, and brought other additional features to make the transactions easier to handle.

Litecoin recovery looks short-lived when looked at from a broader perspective, where the general trend of the cryptocurrency is still aggressively bearish. What happens in the next few trading sessions depends on the general trend of the cryptocurrency industry. One of the largest altcoins in the market, LTC is positively correlated with other cryptos such as Bitcoin, which are currently pushing downwards.

A safe prognosis would be: If the cryptocurrency industry continues to be aggressively bearish, there is a very high likelihood that the prices will also trade below the $40 support level. However, my analysis will be invalidated if prices move past the $55 price level, which happens to be the price high of the past three trading sessions. At that point, the bullish trend will have been established.

Today’s Litecoin price today is $47.89 with a 24-hour trading volume of $360,428,022. Litecoin is down 1.71% in the last 24 hours. The current CoinMarketCap ranking is #20, with a live market cap of $3,386,239,270. It has a circulating supply of 70,706,106 LTC coins and a max. supply of 84,000,000 LTC coins.

Also Read:
• Litecoin Mining: A Complete Guide
• Litecoin Mining Software: All You Need To Know

How about MWEB?

With MWEB now being available, it is time for the Litecoin community to begin the signaling process. Once miners receive the completed code, they may begin signaling for MWEB activation right away. Once the threshold is met, the activation date will be locked in and as a result, MWEB will go live.

Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, also known as MWEB, which allows the network’s users to opt-in to confidential transactions. MWEB lead developer David Burkett, who has been sponsored by the Litecoin Foundation, said the upgrade improves Litecoin’s viability as a fungible currency that can be used for everyday transactions, pay employee salaries and even purchase real estate.

How will MWEB affect Litecoin’s price? Let’s observe as this scenario develops.

Is Litecoin silver to Bitcoin’s gold? There are many sides to this controversy so let’s take a look at the whole tapestry of Litecoin developments and its potential for inclusion in your crypto portfolio.

What is Litecoin?

ITB Widget Example

Dubbed “the cryptocurrency for payments,” Litecoin is a virtual currency that seeks to facilitate payments over the internet. Forked from the bitcoin blockchain in 2011, Litecoin was born to enable instant payments, something that Bitcoin was unable to do due to its slow transaction confirmation times.

Litecoin has been through considerable fluctuations that impacted its market. 2018 to 2022 shows that it went through several challenging phases. This time, as the issue of the Ukraine-Russia conflict, is at its peak, the future of crypto seems to be a question. If there are no restrictions on the crypto market and its transactions, crypto will grow faster than expected. In contrast, if the opposite happens, it will affect the market because the main motive of this market is decentralization.

Litecoin’s bearish reversal pattern is emerging when inflation in the United States surged to a three-decade high, prompting investors to seek a hedge across various financial instruments.

For instance, the most actively traded gold futures lately posted to their best week in six months, jumping 2.9% to $1,868.50 per troy ounce, after the U.S. Labor Department reported an increase in the consumer price index (CPI) by 6.2% year-over-year. That marked the fifth-straight month of inflation above 5%.

Litecoin has been one of the beneficiaries of the Bitcoin rally in past months, with its one-year correlation efficiency with Bitcoin standing at 0.71 above zero.

Dubbed a bull pennant, the bullish continuation pattern appears when the price consolidates sideways inside a triangular structure after a strong rally upward. Traders confirm a bullish breakout when the price breaks above the triangle’s upper trendline with strong volumes.

Litecoin Founder

Charlie Lee developed Litecoin in 2011 as a lightweight alternative for Bitcoin. His vision was to create an altcoin with lightning transaction speeds and one favorable for miners.

Lee, an ex-Google engineer, announced the launch of the coin via the Bitcoin Forum.

He and other developers claimed their main intention was to build the Silver for Bitcoin. Both BTC and LTC coins share the underlying concept of Proof of Work.

Note: The proof of work ecosystem means that a digital coin is mined for creation, authentication, and verification. Upon which the coin is added into a blockchain or a decentralized public ledger.

Both Litecoin and Bitcoin share a few similarities. These include how the coin is created, stored, and mined. All the processes are similar but differ on the grounds of efficiency. Litecoin was created from a soft fork; rather than a hard fork. So what’s the difference between a hard fork and a soft fork?

A hard fork is a complete transformation of a blockchain’s protocols and rules, making old rules invalid and unworthy. A soft fork upgrades with new protocols that make software robust and backward compatible.

Benefits of Litecoin

  • Solve scalability – Charlie Lee and his team of developers thought BTC would face long-term performance problems if its blockchain technology would grow in traffic. And as a result, it introduces a plague of scalability issues, bottlenecks, and increased network fees. Litecoin is focused on delivering a highly sophisticated and scalable blockchain.
  • Boost performance speed – Litecoin is designed to be lightweight and fast. Its development was a challenge to Bitcoin’s block size and the 10-minute block confirmation time. The developers wanted to change how performance is affected by scalability and solve such problems.
  • Relatively low transaction fees – we’ve seen the scalability issues affect both Bitcoin and Ethereum. Lately, both blockchains have been bleeding users as a result of high transaction fees. The high fees result from network congestion caused by increasing traffic. One of Litecoin’s core visions was to introduce lightning-fast transactions that were also cheap. The cost of transactions on the Litecoin network depends on block size as well as the size of the transaction.
  • Confidential transaction to boost network privacy – Litecoin’s developers are betting on building core privacy features to strengthen anonymity. The developers are planning to implement MimbleWimble to create single-chain transactions that are entirely obfuscated from third parties.
  • Cross-industry integration – Litecoin aims to increase its network and native coin adoption through the open software concept. Various merchants have already implemented the blockchainVarious merchants have already implemented the blockchain, accepting the currency for payment, gambling, or art.

Litecoin Technical Analysis and Price History

Let’s go down in history and look at what entails the coin’s history to make a reasonable litecoin price forecast.

Litecoin price 2013 – 2016

Litecoin was trading at a daily price of $4.34 against the USD on its launch date. The price change was a downward correction towards $1.50 and remained within that price level until the wake of the initial Bitcoin bull run.

More and more people began to join the cryptocurrency market. The price of Litecoin and other altcoins followed in the bull run and spiked upwards. In 2014, Litecoin managed to hit a market price of $44 per piece.

Their stay above $40 was short-lived, and the coin came crashing downwards by 50% to $20 within a month. Throughout 2014, the cash crushed further and began trading within the single dollar range.

The coin created a lower bottom at $1.28 and then corrected to $4. A price range that it traded until Q1 of 2017.

Litecoin price 2017 and the bull cycle

There was newfound energy all around the cryptocurrency market at the beginning of 2017. Significant Price surges and BTC hit an all-time high of $20,000.

Litecoin, on the other hand, started from $4 and skyrocketed to $375 by the end of 2017. The key driving factors for crypto markets were injections by retail investors and congestion of newbies driven by FOMO during the bull market.

The price surge was spectacular. And most LTC price prediction analyses indicated all green.

In December of that year, Charlie Lee Twitter his decision to leave Litecoin. He said he would continue making network improvements and that his exit would not affect the market.

In the tweet, he explained he need not tie Litecoin to financial success. From hence, LTC was going to survive on its own.

Litecoin price 2018 – 2022

The bull run began to fade through the start of 2018. It wasn’t a good year for Litecoin, BTC, or other altcoins. The cryptocurrency platform became saturated with hacks, then ICO scams, and Litecoin (LTC) price drop below $200 was inevitable. It hit $74 by the end of June.

In December, Litecoin declined further and hit $23. After which, it ushered 2019 with a gradual uptrend that lasted until mid-July where LTC was trading at $141.

The first half of 2019 saw a positive bullish performance for Litecoin. But heading into the third and fourth quarter, the altcoin slumped into a descending channel that formed lows between $35 – $42.

Finalizing 2019, Litecoin began an upward trend between October and November. This uptrend hit $59 by the 1st of 2020.

In the wake of the Covid-19 pandemic, the cryptocurrency market was trading sideways, and there were heavy plummets across all coins.

Litecoin traded below $70 for the better part of 2020 since March, until around December where it ended at a maximum price of $136.

So far, the number of Litecoin addresses has grown by a 6-8X rate since 2020.

This number of Litecoin addresses might keep growing in the future due to the cheap transaction fees of the network. Also, the numbers indicate the likelihood of a growing trading volume.

Litecoin Use Cases

  • PayPal and other large institutions might adopt Litecoin as the infrastructure for payment processing/transactions.
  • In the long run, the dollar is going to the trash. Stores won’t accept cash. Soon banks won’t either. Your bank balance will be based on crypto in the back-end while it will say it’s in USD. There is a lot of noise here.
  • Litecoin moves into these main supports established and initially bounced a little within as we go to press. Now, these levels are critical to holding and, if they have, will determine the further destiny of Litecoin.
  • In this case, when Litecoin manages to hold the supports and stabilize above to build up with bullishness, further stabilizations with the proper continuations can be expected above the descending-resistance-line marked in my chart in black.
  • Litecoin will close in the bullish stabilization zone and continue with further bullishness when it approaches above this line.

Grayscale currently holds over 1.44 million Litecoin ($248.33 million), making it the firm’s third-largest crypto holding after Bitcoin and Ethereum. The firm is one of few services in the US that allows accredited and institutional investors to purchase cryptocurrencies.

Where and how to buy Litecoin (LTC)

  • The first step is signing up on a cryptocurrency exchange. There are three types of cryptocurrencies exchanges, significant exchanges, decentralized exchanges, and peer-to-peer exchanges.
  • So many trading exchanges exist in the crypto market. Examples of significant exchanges are Binance, Coinbase, Kraken, among others. These exchanges allow you to purchase cryptocurrencies using either fiat or other cryptocurrencies.
  • Standard payment methods include PayPal, debit/credit cards, etc. Sign up at either of these and purchase your first Litecoin (s).
  • Decentralized exchanges allow users to purchase and trade digital tokens. We wouldn’t recommend a DEX when buying Litecoin.
  • You can trade digital coins with other traders within the Peer Peer cryptocurrency exchanges platform using respective local payment methods. An excellent P2P exchange that supports Litecoin is LocalCrypto.com.
  • The platform, like most P2P exchanges, supports only a few types of coins. Local crypto supports Litecoin, Dash, BTC, and Ethereum. You can exchange your coins with other platform users such as BCH, BTC, ETH, or XRP holders.

Litecoin Technical Analysis

Looking at the technical analysis for Litecoin, the price is currently in a downtrend whereby it is trading at $48.38. The price has been making lower lows and lower highs, which confirms the downtrend. The next level of support to watch for is $45.00. If the price breaks below this level, it could continue falling toward the $43.00 level. The immediate levels of resistance to watch for are $50.00 and $52.00.

Looking at the 4-hour chart, you can see that the price has been in a downtrend since peaking at $54.74 on 10th July and the prices have since then declined to the current level of $48.38. The downtrend is confirmed by the lower lows and lower highs formation. There is no imminent sign of reversal from the 14-day Relative Strength Index (RSI) which is currently at 36.44 and still far from the oversold region.

The MACD indicator is currently in the bearish territory as the fast line has crossed below the slow line and is heading downwards. This indicates that the prices may continue to fall in the near term.Litecoin Price Prediction 2022-2031: Will LTC Price skyrocket? 1

The RSI indicator is currently at 42.7, which is in the neutral territory. However, it is close to the oversold levels, which indicates that the prices could fall further in the near term.

The moving averages lines are currently bearish as the 50-day MA line has crossed below the 200-day MA line. This is a bearish signal and indicates that the prices may continue to fall in the near term.

To conclude, Litecoin prices remain in a bearish trend in the short term and there is a possibility that prices could move lower to test the $45.00 level of support. A break below this level could see Litecoin prices decline further to $43.00.

From a technical perspective, it seems like Litecoin could continue its downward trend in the near term with a possibility of a rebound once the $45.00 level is reached. However, if the price can move back above $50.00, it could signal a change in trend.

Litecoin Price Predictions by Authority Sites

Wallet Investor

Wallet Investor term Litecoin as a good investment for the future. They think that LTC might touch the $ 72.075  mark by the end of 2022 and might go up to $148.883 by 2027. These are pretty good growth numbers, and it is expected because Litecoin has proved itself as a strong cryptocurrency in the past 5 years.

DigitalCoinPrice

Digitalcoinprice also has a very bullish stance on Litecoin and believes that the coin would scale new heights in the years to come. They have predicted that by 2023, LTC might touch $75.70 levels and might cross $700 by 2030. The site makes a Litecoin price prediction for 2030 of around $234.74 and says it should be worth an average of $269.07 in 2031.

Price Prediction

Price Prediction net’s Litecoin price forecast expects Litecoin rise to $94.71 by the end of 2022. However, their 5-year Litecoin price prediction sees it averaging at around $527.48 throughout 2026 and 2031 – a huge increase from today’s prices. The site goes on to state that the prices might touch a maximum price of $2,723.11 in December 2030.

Cryptopolitan

Litecoin Price Prediction 2022-2031: Will LTC Price skyrocket? 2
Litecoin Price Prediction 2022-2031: Will LTC Price skyrocket? 3

Litecoin Price Prediction 2022

According to the historical data, Litecoin has always been volatile and the prices are expected to continue to remain volatile in the future as well. In the past, Litecoin has seen a lot of ups and downs and it is expected that the prices will continue to see a lot of volatility in the future as well.

By 2022, the prices are expected to hit a maximum price of $94.71, an average price of $83.05, and a minimum price of $80.43. The Litecoin price is expected to be volatile in 2022 and the prices are expected to see a lot of ups and downs.

Litecoin Price Prediction 2023

In 2023, the prices are expected to hit a maximum price of $138.37, an average price of $125.45, and a minimum price of $122.13.

Litecoin Price Prediction 2024

After the analysis of the prices of Litecoin in previous years, it is assumed that in 2023, the minimum price of Litecoin will be around $170.76. The maximum expected LTC price may be around $209.25. On average, the trading price might be $177.03 in 2023.

Litecoin Price Prediction 2025

According to the Litecoin price analysis, it is expected that in 2025, the Litecoin prices will be volatile. The minimum Litecoin price might be around $250.15, and the maximum LTC price could be around $295.00. On average, the Litecoin trading price might be around $257.23.

Litecoin Price Prediction 2026

In 2026, the minimum price of Litecoin might be around $367.11. The maximum expected price could be around $435.18. On average, the Litecoin trading price might be around $377.40 in 2026.

Litecoin Price Prediction 2027

Crypto experts are constantly analyzing the fluctuations of Litecoin. Based on their predictions, the estimated average LTC price will be around $ 527.48. It might drop to a minimum of $512.39, but it still might reach $642.78 throughout 2027

Litecoin Price Prediction 2028

In 2028, the minimum Litecoin price might be around $737.98. The maximum expected LTC price could be around $893.75. On average, the Litecoin trading price might be around $759.08 in 2028

Litecoin Price Prediction 2029

Litecoin price predictions for 2029 suggest that the Litecoin price is expected to rise to an average of $1,135.41. The minimum LTC price might be around $1,097.46, and the maximum could be around $1,293.48.

Litecoin Price Prediction 2030

By the year 2030, Litecoin is expected to make massive gains. The cryptocurrency is expected to hit an average price of $1,617.92. Litecoin may even go as far as to hit a maximum value of $1,933.41 and a minimum trading value of $1,572.50.

Litecoin Price Prediction 2031

In the year 2031, Litecoin is expected to reach new heights. The average price of cryptocurrency is expected to be $2,373.71. It might drop down to a minimum value of $2,292.82 but may also rise up to a maximum of $2,723.11.

Litecoin Price Predictions by Industry Influencers

Bitcoin Bros Youtube channel goes through Litecoin price predictions and technical analysis.

Conclusion 

Litecoin has had a bad start this year but this has been the outlook on the entire cryptocurrency market. Litecoin operates in a highly competitive space with new blockchains emerging with near-zero cost payments. To make it in this space there is a need for innovation and scaling of the Litecoin foundation.

Going forward, Litecoins price forecasts show it will outperform its past performance. Gradual growth will see Litecoin reach its ATH in 2026 and cross $1000 in 2029. Litecoin’s potential will explode in the future despite high volatility.

Litecoin has been trading since 2011 and is an established top 10 coin. Meaning that it is a popular choice for investors. If a cryptocurrency has a high trading volume, it means you will have no problems finding buyers to sell to. If there are low trading volumes, it means you could find it difficult to find a buyer!

Litecoin is one of the most established cryptocurrencies, with more than 7 years of trading. In fact, it was the first-ever alt-coin! This makes Litecoin investing less of a risk compared to some of the newer coins. Litecoin might never regain the glory it once had as one of the top altcoins on the market. However, that doesn’t mean that it doesn’t have a place in the crypto world. For those who are looking to invest in Litecoin for the long haul, it might be a good idea to HODL on to your LTC and see how the market develops over the next few years.

As always, do your own diligence in studying the crypto market and look for ways how to get in and get out with a profit. However, if you like the project, why don’t you try other ways of earning like staking?

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

FAQs

Which is the best wallet to store Litecoin (LTC)?

The LITE wallet is the best for Litecoin

Will the Litecoin price reach $1000?

Yes, the LTC price will reach $1000 in 2029.

Is Litecoin better than Bitcoin?

Litecoin has better technology than Bitcoin. Litecoin's blockchain is 4X faster than Bitcoin's. BTC takes an average minimum of 10 minutes to verify a block of transactions thoroughly. Litecoin takes 2.5 minutes. The mining process of Litecoin is more straightforward than BTC. The former uses the Scrypt algorithm, which is considered less complicated than Bitcoin's SHA-256. This means that the blockchain and technology of Litecoin are efficient, fast, and scalable compared to Bitcoin.

Will the price of LTC go up?

The price of Litecoin (LTC) will go up. As the market capitalization and volume of the coins keeps rising, the cost of Litecoin will also keep increasing. Most Litecoin forecasts indicate the price will increase. And as of now, the price movement of the coin suggests a bullish trendline.

Is Litecoin the future of cryptocurrencies?

Charlie Lee intended to create a lightweight alternative for Bitcoin. Much in the same way that Silver is a cheaper alternative for GoldGold. He achieved this through a soft fork on the original bitcoin blockchain and created even better rules for the coin.

How is LTC mined?

Purchase mining equipment – Purchase ASIC mining hardware for Litecoin. Litecoin mining did not demand much power in the past, and people using average CPUs/GPUs had chances of winning block rewards. See the full Litecoin mining discussion here: https://www.cryptopolitan.com/litecoin-mining/

How do I sell Litecoins?

You can sell your Litecoins through a trading exchange or peer-to-peer exchange. Just enroll in either Coinbase or Binance and sell your cryptocurrencies to other traders on the platform. Other Litecoin owners on the network can also sell you the digital currency at your convenience. You can also trade the coin for other currencies such as Bitcoin, bitcoin cash, and so forth.

Is Litecoin a good investment?

Yes, Litecoin is a good investment. In terms of the potential to be adopted and the volume of supply of the coins. The coin is fated to bring more people into the cryptocurrency industry, increasing its market cap and skyrocketing the price of the digital currency. Apart from the risks involved, Litecoin being established crypto, having a full-time head, and making small investments make LTC a good investment in 2022.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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