Litecoin (LTC) is an early fork of Bitcoin and one of the first altcoins, launched in 2011 by Charlie Lee — an early Bitcoin adopter and Google employee. Litecoin was intended to be a “lighter” version of Bitcoin and is very similar to the pioneer crypto otherwise.
Litecoin is primarily used as a currency, namely a payment method, as it came into existence before the advent of smart contracts and more complicated use cases. It’s a mineable coin, using Proof-of-Work consensus protocol to release the supply into circulation. The most convenient way to describe Litecoin is by comparing and contrasting it with Bitcoin.
- Litecoin has a hard cap of 84 million coins, while Bitcoin is scarcer — only 21 million of those will ever exist;
- Litecoin’s block confirmation times are much shorter — 2.5 minutes as opposed to BTC’s 10 minutes, making it easier to use in everyday transactions;
- Litecoin uses Scrypt cryptographic algorithm in its Proof-of-Work protocol instead of SHA-256, which is utilized by Bitcoin. Scrypt is less suitable for mining with specialized equipment like ASICs, which, in theory, makes it more accessible for the “ordinary” miner.
Those features make Litecoin nimbler than Bitcoin while keeping pretty much the same level of security and decentralization; note that the rest of the code is mostly unchanged from the original. Overall, Litecoin is one of the most trusted and frequently used cryptocurrencies on the market, ranking in the top-20 by market cap.
Litecoin had joined the crypto bull market that lasted from late 2020 to mid-2021. During that time, LTC price grew from under $50 to $412.96 — an all-time high which Litecoin hit on May 10, 2021. After this peak, the price fell quite sharply, reaching ~$104 by the middle of July. Since then, though, the market has been showing strong signs of recovery, including Litecoin.
LTC’s price has been slowly climbing up in the second half of summer 2021. However, in late August this climb slowed down, as LTC failed to get out of the resistance zone at ~$190. This is an important milestone for Litecoin, so this resistance will undoubtedly be retested soon. The result of that will probably be an important factor in the Litecoin value predictions going forward.
From late July until mid-August 2021, Litecoin has been trading inside the ascending channel, indicating pressure from both bulls and bears. In August, there was a small correction, when the LTC price went from ~$185 to ~$165.
From the technical analysis standpoint, this dip may turn out to be the first part of a double bottom pattern. This is a possibility because Litecoin’s price went up after that to test the resistance line and failed. As of late August 2021, LTC’s price has been going back down. If the trend line reverses after touching the same ~$165 level, this double bottom may mean considerable growth in Litecoin price’s future.
Below we have collected the most reliable price projections for Litecoin (LTC) from popular forecast platforms.
According to WalletInvestor, Litecoin price will grow from $187.41 to $257.256 in one year. That makes LTC an awesome investment. The long-term earning potential is 37.27%. Predicted price for the end of 2026 is $592.941.
Answering the question about if Litecoin is a good investment, TradingBeasts say a resounding no. In the 2021 perspective, this coin price is predicted to reach $166.918 with a reduction to $154.464 by the end of 2022.
In DigitalCoin analysis, the price of Litecoin cryptocurrency will rise in the next 5 years starting from $183.003 as of today’s price to $623.02404. It will go up to $309.1633448 by 2022 and continue its growth in 2023–2024. Based on this forecast, Litecoin is a profitable long-term investment.
In 2021, the average Litecoin price will go up to $222.375. In 2022, Litecoin’s price will rise significantly to an average of $312.7083333.
As it can be clear from the analysis cited above, Litecoin (LTC) projections are rather contradictory. There is no universal consensus either about positive or negative future LTC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Litecoin projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
The future of Litecoin is bright, according to most Litecoin future predictions. Since Litecoin has proved itself to be a reliable investment that has high growth potential, there’s no reason for it to fall out of use any time soon.
The long-term forecasts for Litecoin mostly agree in their high Litecoin value projections. For example, there are several Litecoin price predictions for 2025 putting the coin above $2000 at that point. Even the conservative estimates predict Litecoin hitting at least $1000 in the next decade.
Litecoin (LTC) crashed together with the crypto market in May 2021. It has been rising again since July this year, albeit slowly. Most Litecoin projections agree that it’s going to rise much more in the foreseeable future, so to answer the question, Litecoin is alive and well.
Yes, Litecoin will probably go up in 2021 — or, rather, it has been going up for some time already. Several 2021 price predictions for Litecoin put it at $200-$300 by the year’s end; compare this to the lows close to $100 in the middle of 2021.
Most Ethereum and Litecoin predictions for 2021–2022 expect both of them to grow by the end of 2022. In the short-term those coins’ prices may go through some volatility. However, even those Litecoin price forecasts that predict a decline in 2021 are positive overall — same as the Ethereum ones.
Yes, Litecoin will probably survive in the long run — it’s one of the most well-known coins out there, with strong fundamentals. It might not necessarily be a rocket to the moon, but none of the Litecoin value projections suggest that it won’t live long.
Yes, Litecoin is a good investment for 2021, according to numerous Litecoin future price predictions. In the long-term, the coin is expected to grow quite a lot. For example, some Litecoin predictions for 2025 estimate it will grow as much as 10x in the next five years. This would mean fantastic returns for those who decide to invest in Litecoin.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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