Litecoin Price Prediction 2023-2032: Will LTC Price skyrocket?

Litecoin Price Prediction 2023-2032

• LTC Price Prediction 2023 – up to $105.02
• LTC Price Prediction 2026 – up to $353.7
• LTC Price Prediction 2029 – up to $1062.7
• LTC Price Prediction 2032 – up to $3190.04

How much is LTC worth?

Today, the price of Litecoin stands at $73.5, backed by a 24-hour trading volume amounting to $336 million. With a market capitalization of $5 billion, its market dominance is 0.48%. Over the past 24 hours, the LTC price has seen a 0.79% decrease. Currently, the circulating supply of Litecoin is 73.66 million LTC, out of a maximum supply of 84 million LTC. The annual supply inflation rate is at 3.56%, indicating that 2.53 million LTC were generated over the past year.

Litecoin price analysis: LTC price continues to face selling pressure above $75

TL; DR Breakdown

• LTC price continues to consolidate as it fails to attain buying pressure above $75
• Resistance for LTC is present at $76.84
• Support for LTC/USD is present at $71.2

The LTC price analysis for 7 December confirms that bears are attempting to trigger a downward rally as LTC price recently met a surge in selling pressure and consolidated below $75. However, bulls are strongly defending a decline below crucial support line.

LTC price analysis 1-day chart: LTC/USD struggles to gain buyers’ confidence

Analyzing the daily price chart, Litecoin price is currently experiencing selling activity as it failed to surge above $75, triggering a consolidated momentum. Over the last 24 hours, LTC price attempted to decline below $71 but bulls strongly defended an immediate decline. The 24-hour volume declined to $11.7 million, showing a decreased interest in trading activity today. LTC price is currently trading at $73.5, decreasing by over 0.79% in the last 24 hours.

The RSI-14 trend line has surged from its previous level and currently trades at the level of 57, hinting that bulls are slowly gaining the control of the price chart as the RSI trades above the midline. The SMA-14 level is suggesting volatility in the next few hours.

LTC/USD 4-hour price chart: Bears aim for a decline below EMA20

The 4-hour Litecoin price chart suggests that bears are increasing their domination to keep the altcoin below the EMA20 trend line. Currently, bulls are attempting to push the price toward an upward correction above $75 to prevent a sudden decline.

The BoP indicator is trading in a bearish region at 0.85, signifying that sellers are triggering a minor downward correction.

Additionally, the MACD trend line has formed minor red candles below the signal line and the indicator holds a negative momentum, weakening the chances of a bullish comeback.

What to expect from LTC price analysis next?

The hourly price chart confirms that bulls are inducing buying pressure to hold the price; however, sellers may soon make a comeback. If LTC price holds its momentum above $76.84, it may climb toward $85.46.  

If bulls fail to initiate a surge, LTC price may drop below the immediate support line at $71.2, which may result in a correction to $65.4.

Recent News/Opinions on LTC

Growing Network Activity: Litecoin achieves a new milestone with its network completing the 175 millionth transaction. This year, the network has outperformed 2022’s record, already reaching 46 million transactions, as reported by the Litecoin Foundation.

Litecoin Completes Halving Event: The altcoin market had been eagerly waiting for the competition of the Litecoin halving event, and it has now happened as anticipated. The Litecoin network has successfully executed its halving event, halving the block rewards from 12.5 LTC down to 6.25 Litecoin per block. The automated halving mechanism was activated on the Litecoin blockchain on August 2nd at block 2,520,000.

MWEB Feature: The Litecoin development team has recently announced an MWEB feature that would allow users to make confidential transactions. The MWEB is an upgrade that grants users a new opt-in feature – confidential LTC transactions. Besides processing speed, there’s the issue of supply. While Bitcoin is capped at a maximum supply of 21 million coins, Litecoin is capped at 84 million coins. How will these be addressed by the coming halving?

Is Litecoin measuring up to its name? As its name suggests, Litecoin was originally created to improve several of Bitcoin’s perceived shortcomings, such as slow transaction processing speeds and mining monopolies. LTC is built to be used in everyday transactions, whereas Bitcoin has evolved into more of a “store of value.”

Litecoin Price Predictions 2023-2032

Price Prediction By Cryptopolitan

Litecoin Price Prediction 2023

Based on the forecast and technical analysis, the price of Litecoin in 2023 is expected to fluctuate between a minimum of $92.98 and a maximum of $105.02, with an average trading price of $96.27.

Litecoin Price Prediction 2024

In 2024, the Litecoin price is anticipated to vary between a minimum of $136.01 and a maximum of $160.96. The average price throughout the year is projected to be $139.87.

LTC Price Forecast for 2025

For 2025, the projected price of 1 Litecoin ranges from a minimum of $199.61 to a maximum of $237.12, with an average price of $205.20.

Litecoin (LTC) Price Prediction 2026

Based on the forecast and technical analysis, the price of Litecoin in 2026 is expected to range between $296.70 and $353.70, with an average of $306.96.

Litecoin Price Prediction 2027

After a thorough technical analysis of past LTC price data, the price of Litecoin in 2027 is projected to be between a minimum of $420.88 and a maximum of $512.50. The average trading value for the year is estimated at $433.16.

Litecoin Price Prediction 2028

From our in-depth technical analysis of past LTC data, the price of Litecoin in 2028 is anticipated to fluctuate between $601.63 and $732.04, with an average trading price of $623.29.

Litecoin (LTC) Price Prediction 2029

In 2029, the Litecoin price is forecasted to range from a low of $874.41 to a high of $1,062.70. The average price for the year is projected at $905.58.

Litecoin Price Forecast 2030

For 2030, the Litecoin price is expected to vary between $1,305.41 and $1,565.15, with an average of $1,341.64.

Litecoin (LTC) Price Prediction 2031

In 2031, the price of Litecoin is projected to be between a minimum of $1,876.85 and a maximum of $2,241.57. The average trading price for the year is estimated at $1,930.52.

Litecoin Price Prediction 2032

The Litecoin price in 2032 is anticipated to range from a minimum of $2,755.12 to a maximum of $3,190.04. The average trading price for the year is projected at $2,832.34.

Litecoin Price Prediction By Coincodex 

According to the Litecoin price prediction by Coincodex, it is forecasted that the price of Litecoin will decrease by -9.68%, reaching $63.12 by November 23, 2023. The technical indicators suggest a Bearish sentiment currently, while the Fear & Greed Index indicates a score of 69, showing Greed. In the past 30 days, Litecoin has experienced 57% green days and price volatility of 4.78%. 

The forecast advises that it is not a favorable time to purchase Litecoin. Additionally, considering the historical price trends of Litecoin and the halving cycles, the lowest predicted price for Litecoin in 2024 is estimated at $51.88. However, in the following year, Litecoin’s price is anticipated to potentially climb to a high of $88.57.

Litecoin Price Prediction By Digital Coin Price 

Digital Coin Price’s Litecoin price forecasts expect bullish growth for the token in the upcoming years due to its ongoing network activity and exponential user base. It is anticipated that the value of LTC will surpass the threshold of $151.78 in 2024. By the conclusion of the year, Litecoin is projected to attain a minimum price of $145.01. Furthermore, there is potential for the LTC price to reach a maximum level of $155.2.

In 2032, it is anticipated that the value of LTC will surpass $1,288.14, with Litecoin expected to reach a minimum threshold of $1,282.34. By the end of the year. Furthermore, there is potential for the LTC price to reach a maximum level of $1,291.13. 

Litecoin Price Prediction By CryptoPredictions.com

According to CryptoPredictions.com’s Litecoin prediction, in December 2023, Litecoin is forecasted to commence at $63.75 and conclude the month at $64.3. Throughout December, the projected maximum price for LTC is $91.02, while the minimum price is expected to be $61.89.

Litecoin Overview

Litecoin (LTC) originated as a fork of the Bitcoin blockchain in 2011, with the aim of addressing concerns about Bitcoin’s centralization and making it more challenging for large-scale mining operations to dominate the mining landscape. Although it was unable to fully prevent industrial-scale miners from capturing the majority of Litecoin mining, the cryptocurrency has evolved into a minable digital asset and a decentralized payment system. Initially, Litecoin employed a unique encryption algorithm to deter large mining firms, but these companies quickly adapted their specialized hardware to continue expanding their mining capabilities.

Like Bitcoin, Litecoin can be mined using ASIC (Application-Specific Integrated Circuit) miners.

In the blockchain, a block serves as a repository for transaction data. This block is authenticated by mining software and becomes accessible to any network participant, also known as a miner. Upon verification, a new block is added to the chain, and Litecoin rewards are distributed.

Litecoin Price History

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 at $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. 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 when LTC was trading at $141.

The first half of 2019 saw a positive bullish performance for Litecoin. But heading into the third and fourth quarters, 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 from March, until around December when 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.

More on the Litecoin Network

LTC Milestones

Each halving theoretically reduces the rate of inflation and should push the price of the crypto upward. As of 2022, Bitcoin miners, or people who use their computers to participate in Bitcoin’s blockchain network as transaction processors and validators, were awarded 6.25 bitcoins (BTC) for each block they successfully mine. What has happened to Bitcoin since then?

Here’s the catch, on-chain data shows the Litecoin “mega whales” now hold around 15.4% of the total supply, the highest value in more than five years. The indicator of interest here is the “LTC Supply Distribution,” which tells us which wallet groups are carrying what percentage of the total supply right now. Let’s shine a light through the tunnel with this Litecoin price prediction guide. Well, not so much for Bitcoin where whales hold as much as 90%.

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. LTC is positively correlated with other cryptos, such as Bitcoin, which is currently pushing downwards, one of the largest altcoins in the market.

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 is the price high of the past three trading sessions. At that point, the bullish trend will have been established.

How about MWEB?

Mimblewimble’s integration into Litecoin came from 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 the Litecoin Foundation has sponsored, 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 look at the tapestry of Litecoin developments and its potential for inclusion in your crypto portfolio.

Dubbed “the cryptocurrency for payments,” Litecoin is a virtual currency that seeks to facilitate online payments. Forked from the bitcoin blockchain in 2011, Litecoin was born to enable instant payments, something that Bitcoin could not 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 emerged 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 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 the 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 coin’s launch via the Bitcoin Forum.

He and other developers claimed their main intention was to build the Silver variant 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 to 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 challenged Bitcoin’s block size and the 10-minute block confirmation time. The developers wanted to change how scalability affects performance 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 due to 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 by 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 blockchain. Various merchants have already implemented the blockchain, accepting the currency for payment, gambling, or art.

Litecoin Use Cases

PayPal and other large institutions might adopt Litecoin as the payment processing/transactions infrastructure.

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 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.

The latest development is Litecoin has been approved to be used as a means of payment in the  OTR service stations. LTC is Now accepted at over 170 locations across Australia. The move comes as Litecoin looks to increase its merchant adoption.

This is a very positive development for Litecoin because it shows that businesses are starting to accept Litecoin as a form of payment. This is one of the critical things that need to happen for Litecoin to become more mainstream.

Where and how to buy Litecoin (LTC)

The first step is signing up on a cryptocurrency exchange. There are three types of cryptocurrency 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, and 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.

Using local payment methods, you can trade digital coins with other traders within the Peer Peer cryptocurrency exchange platform. An excellent P2P exchange that supports Litecoin is LocalCrypto.com.

Like most P2P exchanges, the platform supports only a few types of coins. Local crypto supports Litecoin, Dash, BTC, and Ethereum. You can exchange coins with other platform users such as BCH, BTC, ETH, or XRP holders.

The goal of launching Litecoin was to improve Bitcoin in a few different ways. For one, Lee developed a new hashing algorithm for Litecoin called Scrypt (pronounced S-crypt). The simpler algorithm supported Litecoin’s faster transaction speeds. Litecoin’s transaction processing speed is 54 per second—and new blocks on the Litecoin blockchain can be created about every 2.5 minutes.

While Litecoin still requires a minimum of six confirmations from most exchanges to be considered irreversible, peer-to-peer (P2P) crypto payment networks can often settle Litecoin transactions almost immediately. At the time of this writing, Bitcoin transaction fees were significantly higher, at around 3.92% on average, compared with Litecoin’s transaction fees of roughly 0.06%.

On April 10, 2023, the Litecoin market exhibited a partially bullish movement with significant positive momentum, indicating an increase in market activity. The price of Litecoin has been consistently positive in the past few hours, with a spike from $89.50 to $90.2 today. Furthermore, the cryptocurrency’s value continued to rise throughout the day, reaching an all-day high of $93.27. Litecoin’s market capitalization was also substantial, with a value of $92.5, narrowly missing the $93 mark. These observations suggest that the Litecoin market was robust and growing during the analyzed period.

Based on the analysis of Litecoin’s price movement, the market has exhibited volatility after a period of closure. This indicates that the price of Litecoin is less likely to move towards either end, indicating a decreasing trend. The upper limit of Bollinger’s band, a technical indicator used to measure market volatility, is $94.89, representing the strongest resistance level for LTC. Conversely, the lower limit of Bollinger’s band is $87.82, indicating the strongest support level for LTC. These observations suggest that the Litecoin market has been relatively stable and predictable during the analyzed period.

Conclusion 

Litecoin has had a bad start this year, but this has been the outlook for 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.

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, 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!

There is no reason why the current state of the cryptocurrency market, which has been aggravated by the de-pegging of TerraUSD and the failure of LUNA, cannot reverse the downward pull at some time in the future. Optimistic predictions made above and the fact that there is still some time until it reaches an all-time high imply that LTC has some room for development. However, there is also a chance of a crash or a period of stagnation. Keep in mind that cryptocurrency prices are extremely volatile and can rise and fall.

Litecoin might never regain its glory 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 looking to invest in Litecoin for the long haul, it might be a good idea to HODL onto your LTC and see how the market develops over the next few years.

The long-term Litecoin price predictions are very optimistic, and the cryptocurrency is expected to reach new all-time highs. However, short-term price movements are very volatile, and it is hard to predict where the price will go. The best thing to do is to keep an eye on the market and watch for any significant news developments that could impact the price of Litecoin.

Before you invest in Litecoin, read up on cryptocurrency wallets and how to buy crypto. Speak with a financial planner about how much you could realistically invest in cryptocurrency based on your unique financial goals. However, if you like the project, why don’t you try other ways of earning, like staking? Learn more about investing from our GUIDES.