Litecoin Price Predictions: How It could go in 2021 and Beyond

Litecoin Price Predictions: How It could go in 2021 and Beyond

Litecoin was up by more than 140% in 2020, despite a recent drawdown that reduced the asset to about $50 per LTC. The Litecoin price has been through a lot from its launch – going up and down. Its price started at about $3 per LTC and has gone through a number of bubble cycles or “alt seasons.”

Elliott wave Bitcoin analysis

These contributed to a significant rise in the price before a minor correction occurred. These price corrections do nothing to counter Litecoin’s strong price trajectory. Long-term, the outlook suggests that Litecoin’s potential is extremely high. Eventually, Litecoin closed 2020 at $126.23 (on Coinmarketcap). Will the price of Litecoin go up this year and in the years to come? Let’s find out!

The article covers the following subjects:

A Bit of Litecoin History

Why Is Litecoin an Attractive Investment Asset?

Other Interesting Facts

Litecoin Price Analysis

Litecoin Price Predictions by Crypto Experts

Litecoin Technical Analysis

Litecoin Price Prediction: 2022 -2023

Long Term Litecoin Price Prediction: 2025-2030

How Has the Price of Litecoin Changed Over Time?

Is Litecoin a Good Investment?

Litecoin Price Predictions FAQ

A Bit of Litecoin History

Litecoin (LTC) is a so-called digital peer-to-peer currency integrated into open-source software. Technically, the Litecoin project is very similar to the Bitcoin system. Litecoin production and transmission are based on an open-source encryption protocol. There is no central control. With this in mind, all transactions, balances, and expenses are managed by a peer-to-peer network. Litecoin is created on the basis of a cryptological hash function, which in turn generates blocks. Litecoin can be exchanged for Bitcoin and fiat money. The processing in question usually takes place via online exchanges (cryptocurrency exchanges).

Litecoin was created by a former Google employee, Charlie Lee, in 2011. The cryptocurrency was created based on the Bitcoin protocol but differs in terms of the hash algorithm used. Furthermore, it also differs in hard caps, block transaction times, and some other factors. Litecoin was released via an open-source client on GitHub on October 7, 2011. On October 13, 2011, 5 days later, the Litecoin network went live.

Lee’s goal was to create a light version of Bitcoin with Litecoin. Developers have always stated that you can consider Litecoin to be the silver version of Bitcoin. Litecoin differs from Bitcoin in the prioritization of the transaction confirmation rate, which is approximately 2.5 minutes per block. However, the reality is that Litecoin users will have to wait up to about 30 minutes for their transaction to be processed due to network congestion.

Why Is Litecoin an Attractive Investment Asset?

Litecoin is especially faster at handling payments than Bitcoin and is an excellent, proven complementary alternative. It’s a very cheap, super-safe highway for making payments – especially when it comes to micro-transactions, like, for example, when paying for a cup of coffee. In addition, the Litecoin community is working on the implementation of all kinds of new fintech gadgets that are actually intended for Bitcoin. Litecoin is now working on the implementation of the lightning network protocol and applications for smart contracts and privacy (including confidential transactions & MimbleWimble). Litecoin is certainly light and cheap, but above all in good hands with fantastic ambitions. Litecoin has a bright future as a classic and reliable altcoin.

Most investors see Bitcoin as gold and Litecoin as silver. Litecoin was developed as an alternative to Bitcoin and developed as a lightweight that solved some shortcomings of Bitcoin. It is a classic altcoin with more than 6 years of experience and development behind it. Software updates and new tech can be easily added to Litecoin.

As with Bitcoin, there is also a built-in scarcity. In total, only 84 million Litecoin can be mined. Litecoin can be considered a much cheaper and faster alternative. In fact, Litecoin is underestimated relative to other cryptocurrencies. Bitcoin is slower and more expensive to use compared to Litecoin.

The fact that Litecoin is fast and cheap has advantages, especially since people in third world countries without bank accounts can still get Litecoin cheaply and quickly. Litecoin is a superior alternative to fiat money when compared to Ethereum. Ethereum was not developed as money, but it can certainly be used as such. You could rather consider Ethereum to be crypto gas.

In addition, Ethereum is a much more difficult concept to grasp than Litecoin. Litecoin is just digital p2p money with a built-in scarcity that actually works faster as a transaction medium. This makes adoption much easier and does not require much knowledge. Simply install the wallet app on your smartphone, and you will have your own Swiss Litecoin bank account with which you can actually conduct transactions almost immediately. As the popularity and price of Bitcoin increase and, therefore, the transaction costs rise, cheaper and faster alternatives will be sought. This is Litecoin, baby.

Other Interesting Facts

Litecoin has made a lot of progress and has even been included as a means of payment in Venezuela’s mainstream international payments system. Via the Remesas remittance platform, foreigners can send Litecoin to family members and friends in Venezuela who receive Bolivars in their local bank account through Remesas. A commission of 15% is charged, which means that the government in Venezuela secretly collects Litecoin.

Another interesting fact is that the Litecoin Foundation has a 9.9% share in the German WEG bank. The Litecoin Foundation has received this as a donation from the Swiss blockchain company TokenPay. Together they have almost a 20% share in this conservative German bank, mainly for real estate investors. Litecoin can thus be recognized in the long-term as a possible cryptocurrency for buying real estate in Germany? But we digress, so let’s not dive too deep into the matter and see how the coin develops.

Litecoin Price Analysis

Despite it not being a bullish period for cryptocurrencies until around October 2020, Litecoin has performed reasonably well compared to its competitors. Charlie Lee is clearly doing really well; he finally introduced confidential transactions (CT). Like the privacy coins ZCash and Monero, LTC’s confidential transactions will prevent replaceability, scalability, and privacy issues.

The acceptance rate is also quite high. Very recently, the Litecoin logo was even advertised on the UFC mat during a famous fight. It was a real eye-catcher. Furthermore, a new shopping center in Singapore with an ATM that accepts both Bitcoin and Litecoin has been installed. Litecoin’s price prediction is very optimistic in the opinion of experts.

Experts expect Litecoin to have a bright future in 2021 due to all integrations and partnerships. In addition, the Litecoin community is very active, with all the upcoming developments. They will, of course, keep the enthusiasts informed. Litecoin clearly has the potential to rise further and is certainly a tough competitor for the other cryptos.

If Litecoin can break above its current price and hold on in the long-run, the Litecoin forecast says it will finally retest its all-time high. The maximum height for the Litecoin /US dollar rate is likely to remain below $300 for much of the next year. What will Litecoin do in the next 5 years?

Litecoin Price Predictions by Crypto Experts

The cryptocurrency market is very volatile, which means that predicting reliable prices of cryptocurrencies is indeed one of the most difficult things to do. Let’s have a look at some recent expert publications regarding their statement and LTC prediction. They may give us food for thought about LTC:

Trading Beasts

A technical analysis performed by Trading Beasts predicted that by the end of 2020, LTC might reach around $47 and that it is good for investment in the long run. We now know that LTC closed December 31st, 2020, at $126.23 (on Coinmarketcap). That’s quite higher than predicted!

Wallet Investor

Wallet Investor always has been frank and conservative in predicting all cryptocurrencies. They have again come out with a conservative prediction for Litecoin, where they stated that LTC might reach $22.95 by the end of last year. We guess no one expected the BTC boom! Shh. We didn’t either.

Long Forecast

According to a published Long Forecast research, the price of Litecoin should have reached $55 by the end of 2020. Their forecast was a bit more optimistic than the previous two, but still, they underestimated the power of Litecoin.

CoinPrice

Finally, someone who believed in LTC! CoinPrice predicted that Litecoin might reach as high as $124 by 2020. As we have seen from the previous expert outlets, this was quite an optimistic prediction, but they stood by it and were the most accurate of them all! Nice work on that analysis, CoinPrice!

Litecoin Technical Analysis

Lately, Litecoin has been following a flag pattern. After reaching $160 on January 3rd, the cryptocurrency had two bearish days and dipped down to about $150. Let’s look at what’s happening behind the scenes.

LTC followed three flag patterns consecutively, which doubled its price from $80 to $160. If Litecoin fulfills flag and pole post-consolidation, its price could reach $185. If the RSI breaks below the overbought zone, however, its price will go down.

As seen in the 4-hour chart below, the MACD switched from bullish to bearish, as did the Parabolic SAR. This shows that, currently, there is a negative market trend and that there is an expected drop further. Thus, the 20-period SMA is critical in holding up the price.

There is a lack of strong resistance barriers – thus, LTC’s price has enough space to fulfill the flag pattern. When we take a look at the IOMAP (in/out of the money around price), we can see that LTC has a positive future.

Litecoin Price Prediction: 2022 -2023

he LTC price prediction is performed based on the fact that it is the 5th most appreciated cryptocurrency in the world. With its low transaction costs and fast confirmations, LTC is really becoming the new global payment standard for consumers and businesses worldwide. Litecoin also reassures traders that costs are likely lower than they thought. The processing fees are far less than those incurred by credit cards and other forms of payments. Even the integration is free!

As Litecoin is steadily gaining more popularity, the acceptance ratio might also increase. It is already high compared to the other newcomers. We predict that the price is going to climb pretty high in the years 2022 and 2023, when it may have the power to reach the 900 dollar mark.

Long Term Litecoin Price Prediction: 2025-2030

The third halving for Litecoin is set to take place in 2023. In doing so, block rewards would be halved to 6.25 LTC. This incites Litecoin enthusiasts to trade and invest as the halving process causes the currency to appreciate in value. Litecoin could even excel above its competitors to become one of the most traded cryptocurrencies.

As such, the prediction for Litecoin by 2025-2030 is that its value could reach $1200. Keep in mind that such long-term price forecasts are indicative in nature. Forecasts for such a long time are very approximate.

How Has the Price of Litecoin Changed Over Time?

Today, LTC is trading at $142.18. On the current CoinMarketCap rankings, Litecoin ranks #5, with a market cap of $9,957,064,586 (January 3rd, 2021). The circulating supply is 66,230,155 LTC, while the maximum stock is 84,000,000 LTC coins. The Litecoin price hit its all-time high of $375.29 on December 19, 2017. But in order to make the most reliable cryptocurrency predictions, it’s important not just to look ahead but also to look back at the previous price performance of Litecoin. Below you’ll see how Litecoin performed over the years of its existence:

How Has the Price of Litecoin Changed Over Time?

Is Litecoin a Good Investment?

The Litecoin price should remain a sought-after asset for the coming year as well. In the past three months alone, the currency is up 120 percent. Even if short-term gains remain likely, the price should target its 2019 high, around $145, in the medium and long term. Only when the said high has been successfully reached do I see further upside potential.

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The coronavirus pandemic is likely to remain at the heart of the markets in 2021. In response to the massive support of central bankers from the world’s major central banks, investors are increasingly looking for a hedge to counter value risk. Against this backdrop, Litecoin, Bitcoin, and other top cryptocurrencies are likely to continue to attract attention.

If Litecoin can break above its current price and hold on in the long-run, the Litecoin forecast says it will finally retest its all-time high. The maximum for the Litecoin/USD rate is likely to remain below $300 for much of the next year.

Source: Bloomberg

The situation in the US bond market doesn’t yet concern the Fed. Conversely, Atlanta Fed President Raphael Bostic said that if the US economy recovers quickly, the central bank will begin to roll back QE as early as 2021. Dallas Federal Reserve President Robert Kaplan says he expects the US economic growth to be strong enough to allow the Fed to consider pulling back on the asset purchase program. The money markets suggest the Fed should hike the interest rate twice by the end of 2023. Not long ago, there were doubts even about a single rate hike during the suggested period.

Weekly EURUSD trading plan

I think the Fed is not concerned about the rise of the Treasury nominal yield, as the real yield is still low. The 10-year yield should be up to 1.6-1.8% to scare the Fed and the markets, which is yet unlikely. On the contrary, the idea of Trump’s impeachment could delay Congress’s consideration of Joe Biden’s stimulus offer, discourage the bears on the US Treasuries, and suspend the EURUSD correction. To buy the euro-dollar, we need additional signals. The first buy signal will be sent when the euro sellers fail to draw the price below the support zone of $1.212-$1.2145. If the price goes below the support zone, we shall pick up the rebound and buy the euro at a low price around $1.208 and $1.204.

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