What is Litecoin? How was the name derived?
Before doing the technical analysis of Litecoin, it would be great to know the history of the coin alongside its name derivation. So, let’s dive into further in-depth details.
As we all know, the identities and properties of all digital coins are unique. Therefore, each digital currency possesses its own unique identity. In the case of Litecoin, it also has different features as compared to other cryptos.
At the end of 2010, Charlie Lee, the ex-employee of Google, after knowing about Bitcoin, decided to do something different. At that time, Bitcoin was trying to enter the fintech firms and make its name bigger.
He wanted to do something affordable and on a lighter note as compared to Bitcoin. Interestingly, Litecoin was derived from Bitcoin, as the name itself suggests light and coin (Litecoin). Also, some investors believe it is an improvised version of Bitcoin.
Anyhow, Litecoin was launched on October 07, 2011, by an open-source client on GitHub. Furthermore, the network went live on October 13, 2011.
Consequently, at the time of writing, Litecoin is at the top ten digital currencies of the world and is represented by the symbol of LTC.
Litecoin Technical Analysis
Litecoin has seen an impressive rise of nearly 35% over the past week. This rapid growth triggered a rally to $270 USD earlier. Which is likely due in large part from investors betting that LTC will soon hit its all-time high again before this upward trend can continue even further.
Litecoin price has skyrocketed, moving past $273.43 as capital from Bitcoin has rotated into the altcoin following Walmart announcing that it would begin accepting Litecoins as a form of payment for purchases on its website .
The LTC network experienced a spike in on-chain activity, and perpetual swaps volume has crossed $7.54 billion! These are interesting times for cryptocurrency investors as they can trade with confidence knowing that their investment is protected by smart contracts which iron out any disparities between buy or sell orders.
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Litecoin (LTC) Price Prediction
The Litecoin price is volatile and unpredictable, but that may be good for you if you’re looking to invest long-term. Despite this uncertainty in prices predictions going forward there’s no way around it: we need a forecast as close projections can help people understand what they should do now with their money.
There are often high levels dead reckoning the future value of cryptocurrencies like litecoins over time periods ranging anywhere from months up into years. This means investments made today might end up making more or less than expected depending on how much faith investors put behind each asset class at any given point during its life span
Litecoin Price Prediction for 2021
As we all know, the major events preceded this year (2021), along with a surge in BTC price. Therefore, there should be a bullish trend in the Litecoin price as well. As per our analysis, the ongoing current surge in the LTC price will head to the cost of $265 on average at the end of 2021. Moreover, according to future technical analysis, Litecoin’s worth is going to increase.
These could be good signals for all the investors and traders to invest their money into LTC.
Litecoin Price Prediction for 2022
As per our experts and analysts, the bullish trend for the coin’s price that started at the end of 2020 and went throughout the year 2021 will continue to go further into 2022. There’re also chances that somewhere between 2021 and 2022, a surge in LTC price could occur.
This surge will take it to its previous major resistance, which is almost $330. Furthermore, we will also be seeing a rapid price change in the coin by the end of 2022.
Litecoin Price Prediction 2023
According to Wallet Investor, The price of Litcoin is expected to fluctuate throughout the year with lower volatility in March and May. From June through December, prices will be at their high point at $392.
litecoin will start out strong in 2023 with an estimated price of $461. It is predicted by CoinPriceForecast, that within the first six months, they could see prices dip down to around $441 and end up finishing at about fifty two percent higher than where it stands today.
Litecoin Price Prediction 2024
Litecoin is one of the most popular cryptocurrencies in use today. It has been on an upwards trajectory for some time now, and our Prediction indicates that prices will reach $480 by mid-2024 with a final finish at less than half way through 2024’s year $500 total value.
Litecoin Price Prediction for 2025
As per the analysis of CryptoNewsZ, one LTC will be equal to somewhere between $500 and $600 for the year 2025. Moreover, we’ll be seeing some major changes in the year 2025 related to this virtual currency. Some of the changes are as below:
- political reason(s)
- economic overruns
- global economics
- industry scenarios
- market positions
- policy restructuring
On the other hand, many experts believe there’ll be some other factors that will only affect the price of Litecoin in a specific region. For instance, in a shopping mall in Singapore, the management installed an ATM, which accepts only Bitcoin and Litecoin. Isn’t this crazy??? Tell us in the comments.
Also, despite its futuristic goals, the coin will still have a bright future from 2025 to 2030. As of now, it is predicted to reach the price of 550 USD in the year 2025. Furthermore, Litecoin seems to set a new record in the near future after giving the stability.
FAQs related to Litecoin
Is Litecoin better than Bitcoin?
As we mentioned above, all digital currencies have their specific features and identities. Also, in this case, both the coins have their own merits and demerits. Bitcoin is considered as digital gold, while LTC is an improvised version of it. It is up to you in whom coin you would prefer to invest your money after your research and analysis.
Is Litecoin a good investment in 2021?
Yes, as per our analysis. Moreover, according to future technical analysis, Litecoin’s worth is going to increase. As per the ongoing current surge in the LTC price, by the end of 2021, on average, the price of one Litecoin price will be $265.
Is it profitable to invest in Litecoin (LTC)?
Like other similar coins, we will claim the same. LTC is a good investment for a longer period, and the same data and statistics of other experts at firms recommend. By long-term, we mean that the period of 5+ years.
How do I purchase Litecoin for myself?
Several web platforms and crypto exchanges are providing the opportunity to register you and purchase this coin. Some of the exchanges include:
- Atomic wallet
- Litecoin wallet
How do I make my Litecoin wallet?
It isn’t rocket science to make the Litecoin wallet. The only thing is your passkeys, which should stay saved on your smartphone. Also, by doing this, you can immediately and tight control (access) all of your LTCs.