Trading Market Outlook; Litecoin, The Dollar, Gold

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Litecoin Price Prediction 2020, 2021, 2023, 2025, 2030 | Litecoin Forecast Today

Recently, The Litecoin Foundation stepped into philanthropy and teamed up with UNICEF kid power, which is an initiative which shows how children can make a difference. Litecoin even went through its second halving process wherein the block reward halved from 25 LTC to 12.5 LTC. Some of the crypto enthusiasts were pretty vocal about the effect of the event. Eric Turner, director of blockchain analytics firm Messari said that some investors are exiting with their trading process after the LTC halving took place.

Even some months back, Charlie Lee announced that Litecoin introduces Confidential Transactions to wear off the fungibility problem. This is a huge step towards Litecoin’s growth as it will no longer be known as Bitcoin’s sister. It will be having its own identity. MibleWimble Protocol will be looping in to make Litecoin fungible, private and scalable. Litecoin Confidential Transaction will help mitigate the issues like knowing the history of what the good or commodity has been put to use which has been inherent in public blockchains.

Currently, Litecoin (LTC) is trading at $34.64 with LTC price 20.34% down today. The market cap of Litecoin is USD 2,226,965,824 with 64,280,182 LTC circulating currently. The 24-hour price movement chart indicates that $7,659,825,777 worth of LTC was trading. There is a possible increase in the value of the LTC coin price, which is predicted to increase to at least $230 by the end of this year. The Litecoin price prediction is made on the basis of the fact that it is the seventh-largest cryptocurrency in the world. (Litecoin prediction today)

What is Litecoin (LTC)?

Litecoin is created by Charlie Lee, an ex-Google employee, to had the vision to create something which is lighter and cheaper than Bitcoin, hence the name. On October 7, 2020, Litecoin was released by an open-source client on GitHub. Litecoin is formed from Bitcoin, with similar features and characteristics. So, it is the fork of the Bitcoin. Litecoin is an improved version of Bitcoin will lesser brand awareness.

Litecoin is one of the most under-valued and grounded cryptocurrencies in the world, being in existence for seven years since 2020. Litecoin is more accessible to the people than Bitcoin, hence known as “silver” of crypto world and Bitcoin referred to as “gold” of the crypto world.

Market prediction for Litecoin price 2020

With the market being so volatile, predicting the price of the cryptocurrencies is really one of the most difficult tasks.

Let’s consider the publications and personalities, and their statement regarding the LTC forecast, which will give us a fairer idea:

#1 Trading Beasts

According to the technical analysis presented by Trading Beasts, they predicted that by the end of 2020, LTC might reach around $47 and that it is good for investment in the long run.

#2 Wallet Investor

Wallet Investor has been always upfront in projecting its conservative prediction for all the cryptocurrencies. They have again come out with a conservative prediction for Litecoin, where they believe that Litecoin might reach $22.95.

#3 Long Forecast

According to Long Forecast research, the price of Litecoin might reach $55 by the end of the year.

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#4 Coin Price

Coin Price is a crypo prediction website that has predicted that Litecoin might reach as high as $124 by 2020. Although this is quite an optimistic prediction, they stand by it.

#5 DigitalCoinPrice

DigitalCoinPrice states that Litecoin price might reach $106 by this year-end. That’s an optimistic approach by the crypto prediction website.

Our verdict on Litecoin price prediction

Although this is not a bullish time for the crypto space, Litecoin is performing fairly good as compared to its peers. Obviously, most of the credit goes to Charlie Lee, as he finally introduced Confidential transactions (CT) like privacy coins like ZCash and Monero, which will ward off fungibility, scalability and privacy problems. Even the adoption rate is fairly high as very recently, Litecoin logo was advertised on the mat of UFC, a famous fight and that helped in grabbing eyeballs. Even a new shopping center in Singapore has installed an ATM that accepts Bitcoin and Litecoin. (Litecoin predictions 2020). The Litecoin price prediction before halving looked a bit shaky. The Litecoin price prediction after halving is very optimistic as per the experts’ opinions.

Litecoin price prediction 2020

As 2020 is expected to turn out to be the most prominent year for cryptocurrencies, LTC also might experience an upward surge. It might start around 250$ where it can reach the 400$ mark in the first quarter. In the month of June, LTC might be $500, after which it might stay onto the 500 dollar mark. By the end of the year, i.e, in December, it decreases a bit and might go to $470. (Litecoin Forecast 2020)

Litecoin price prediction 2021

Litecoin’s future looks bright will all the integrations and partnerships. The Litecoin community is pretty active, which comes up with all the upcoming developments, and keeps the enthusiasts updated with the same. Litecoin might rise upwards and might give a tough competition to the other cryptos. By 2021, Litecoin might reach $600. It might reach newer heights, which shall define its futuristic goals.

Litecoin price prediction 2023

The Litecoin price prediction is done based on the fact that it is the 7th most valuable cryptocurrency in the world. Litecoin, with its low transaction costs and quick confirmation times, is becoming “the new global payments standard for consumers and businesses worldwide.” It also reassures merchants that costs are likely lower than they thought. The payment processing fees are far less than those incurred by credit cards and other forms of payment and even the integration is free.

As the currency is gaining more popularity, the acceptance ratio might also increase. It is already high as compared to the other newcomers. The price is going to soar pretty high in the year 2022 and 2023, where it can reach the 900 dollar mark. You can convert LTC to BTC from CoinSwitch at the best rates.

Litecoin price prediction 2025

Litecoin would be having in 2023, where the block rewards would get halved and becomes 6.25 LTC. This would push the Litecoin enthusiasts to trade and invest as the halving process enables the coin to surge its value. Litecoin might even shine ahead of its peers and become one of the most traded cryptocurrencies. By 2025, Litecoin might reach $1200.

Litecoin price prediction 2030

By 2030, Litecoin would have gone through its 4th halving process, and it is expected to grow manifold. It might grow upwards and become one of the top 3 cryptocurrencies if it keeps on with the technological trends. By 2030, Litecoin might reach a whole new level and the value might soar high above $1500.

Frequently Asked Questions (FAQ)

1. Is Litecoin the future?

Litecoin is one of the top 5 cryptocurrencies with a promising future. Litecoin has many more milestones to achieve and can be dominant in the future.

2. When was Litecoin last halving?

The second Litecoin Halving took place on August 05, 2020, where the miner reward decreased from 25 LTC to 12.5 LTC.

3. How do I mine Litecoin?

You can check this guide for knowing how to mine Litecoin.

4. How do you sell Litecoin?

If you want to sell Litecoin, you can go to https://coinswitch.co/. You can exchange Litecoin at the best rate at https://coinswitch.co/coins/litecoin/litecoin-to-bitcoin

5. Will Litecoin go up in 2020?

There are high probabilities of Litecoin succeeding in 2020, especially post the halving process.

6. Will Litecoin go down?

Litecoin might not go down. But some of the prediction sites like Wallet Investor has predicted that Litecoin might fall down.

7. Are Litecoins a good investment?

If you want to invest in Litecoin, you need to follow the daily trends and analyze thoroughly before taking any decisions.

8. How many Litecoins are left?

20,761,846 Litecoins are left as of September 12, 2020.

Litecoin Price Today in US Dollars

The Kitco Litecoin price Index provides the latest Litecoin price in US Dollars using an average from the world’s leading exchanges.

Litecoin in Various Currencies

Litecoin vs Other Cryptocurrencies

Litecoin Basics

WHAT IS LITECOIN?

Litecoin is a decentralized digital currency, with all transactions recorded on the public blockchain. It is an open source software project, similar to Bitcoin, often said to be the ‘silver’ to Bitcoin’s ‘gold’.

WHEN WAS LITECOIN CREATED?

Litecoin was created in October 2020 by former Google engineer, Charles Lee. It was mainly created in order to improve upon Bitcoin, to which it differs slightly.

WHAT IS THE DIFFERENCE BETWEEN LITECOIN AND BITCOIN?

In comparison to Bitcoin’s 21 million coin limit, Litecoin has a coin limit of 84 million. Also, they refer to different algorithms, as Litecoin uses Scrypt while Bitcoin uses SHA-256. The main difference, however, involves the processing block time. The mean block time for Bitcoin is 10 minutes, while for Litecoin it is 2.5 minutes.

HOW DO I BUY LITECOIN?

Like Bitcoin, you can buy Litecoins for fiat on a number of exchanges. You are also able to exchange bitcoins for Litecoins.

WHERE CAN I STORE MY LITECOIN?

As opposed to Bitcoin, the choice of Litecoin wallets is limited and could be problematic. For longer-term storage, it is suggested to setup a Litecoin paper wallet.

WHAT ARE ALTCOINS?

The term ‘altcoins’ is short for alternative coins. Given that Bitcoin was the first cryptocurrency to surface in the market, the other digital currencies that emerged are referred to as altcoins.

WHAT IS BLOCKCHAIN?

A blockchain is a digital ledger recording cryptocurrency transactions, maintaining records referred to as ‘blocks’ in a linear, chronological order.

WHY USE A BLOCKCHAIN?

Using a blockchain ensures security and manages digital relationships as part of a system of record.

WHAT IS DISTRIBUTED LEDGER?

A distributed ledger is a database, digitally recording transaction information using cryptography, making it secure and unforgeable.

WHAT IS THE DIFFERENCE BETWEEN A BLOCKCHAIN AND A DATABASE?

There are several differences between a blockchain and a database, including the level of control. Blockchains are under a decentralized control, whereas a centralized database creates a dependent relationship between users and administrators. Users tend to prefer confidentiality, which is better achieved through a centralized database. Performance also differs, as a centralized database is able to compute information faster than blockchains.

Litecoin price prediction 2020: can it become the best-performing altcoin of the coming decade

Only 10 years ago, no one knew what a blockchain was. Today, there are hundreds of well-established and emerging cryptocurrencies using blockchain technology to supplant traditional fiat money and change the way we live.

Litecoin (LTC) has drawn a lot of investor interest after hitting the headlines in December 2020. Then, the cryptocurrency reached its record high of $375, an 8,200 per cent increase year-on-year, hitting a total LTC market cap of $19.5 billion.

However, following the latest crypto market news where prices have fallen across the board, many now wonder: will Litecoin go up once again? Can it fully recover and set some new records after the bumpy ride of the second half of 2020?

While this year is about to come to an end, closing the first decade of crypto’s existence, analysts are split in their Litecoin price predictions. Some experts say that its current all-time high could be just a drop in the bucket and predict the coin to hit an overwhelming $595 by 2030. Others take a bearish stance, believing that another crypto winter is yet to come, with Litecoin future price dropping as low as $1.5 by the end of 2024.

So, if you are wondering, “should I invest in Litecoin or not?” we have you covered. In this article, we try to find the truth by taking a closer look at what factors influence this cryptocurrency, reviewing its recent performance, analysing the latest developments and checking out the Litecoin price prediction for 2020 and beyond.

The very basics: what is Litecoin?

Before we delve deep into the Litecoin price predictions, let’s do a quick review on what LTC is.

On October 7, 2020, Litecoin (LTC) was created by Charlie Lee, an ex-Google employee and former Engineering Director at Coinbase. Designed as a peer-to-peer network with the same-name native cryptocurrency, it was launched to complement Bitcoin by solving issues like concentrated mining pools and transaction timings, as well as to make the crypto world more accessible.

Truth be told, these two do share a lot in common. However, there are still some substantial advantages that Litecoin boasts of. These include, among others, improved capacity, faster block generation and higher supply limits.

On the other hand, as Litecoin’s purpose initially was to be “silver” to Bitcoin “gold”, some sceptics call into question whether it will ever be able to become anything more than its main rival. While Litecoin technically has a superior algorithm, it may be rather irrelevant since Bitcoin’s popularity has cemented it as the gold standard for old and new crypto traders. Moreover, the next-gen altcoins are emerging almost daily, taking the industry’s competition to a whole other level.

Litecoin price analysis: the rise and fall of the alt-legend

After its launch, Litecoin was fast to get the attention of the small yet growing crypto community of the time. Nonetheless, its value had remained rather low – around $3 – for quite a long time. It was only in November 2020 when the market finally saw the first significant price movements. On November 28, LTC value almost doubled within one day and reached the price of $50 per coin.

However, such a substantial jump was short-lived. In April 2020, Litecoin dropped to $10 and further to a little over $1 in February 2020. The crypto was then traded in the range of $1-$4 for the next two years.

In March 2020, Litecoin announced the launch date of their Segregated Witness (SegWit) protocol upgrade. The statement had a positive impact on the coin’s rate, with its value rising to $16. In May, the protocol changes were finally implemented, making LTC the first of the top five cryptocurrencies to adopt SegWit and pushing its price to $30.

Meanwhile, the dev team implemented the Lightning Network, attracting a lot of attention from the crypto enthusiasts. By September, LTC reached $70. With the whole market being bullish, sending Bitcoin and altcoins to set new price records, Litecoin hit its all-time high of $375 in mid-December.

For the most part of 2020, Litecoin was in a bearish trend. Despite its well-established position in the industry, the coin was affected by the overall descending dynamic of the market. The downward Litecoin trend only changed a couple of times: in February and April. All-in-all, the coin’s price decreased almost five times over the course of the year.

At the beginning of 2020, Litecoin continued its price growth. During the first half of the year, LTC price increased four times from $31.02 to $138.4. The reason for such a significant price hike was the upcoming Litecoin halving, which happened on August 5.

However, the event was followed by the much-expected correction, with the price of Litecoin dropping as low as $68 by mid-September. Throughout the rest of the year, the coin remained in the downward trend. At the time of writing, on December 20, LTC traded at $40.

What can determine Litecoin future price: does LTC stand a chance?

Back in the days, Litecoin was at the forefront of modern and relevant technologies. Its early implementation of SegWit protocol and Atomic swaps has revolutionised the sphere of the cryptocurrency payments.

However, Litecoin has been recently struggling with many difficulties. Now that Bitcoin also introduced SegWit, the altcoin lacks one of its crucial competitive advantages.

Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, said: “Litecoin’s price action has historically followed Bitcoin’s, but currently it is facing negativity on multiple fronts. In the absence of new capital flow, transaction volumes have remained tame and the August halving has failed to push the price higher.”

He also added: “In fact, miners have begun to abandon the network after the reward-reduction, which is why the hashrate is falling and concerns are being raised about the network’s security.”

Marouane Garcon, managing director of crypto-to-crypto derivatives platform Amulet, also weighed in, saying that Litecoin’s recent price decline “has more to do with the concerns about development and how they are going to be funded going forward.”

Earlier this year, Charlie Lee reportedly told Franklyn Richards, director of Litecoin Foundation, that “no one is interested in working on Litecoin protocol development work.” After this information was disclosed, “people’s perspective of Litecoin changed,” continued Garcon. “Litecoin has not been the same since that announcement,” he added.

Based on the latest study conducted by Sylvain Saurel, the potential of Litecoin is very limited. He explained that the coin peaked in 2020 as it was riding on Bitcoin’s wave of success, taking advantage of the increasing number of interested investors. Although Litecoin remains in the top 10 cryptocurrencies by market cap, this number is still too far from its record high of $19 billion.

Saurel claims: “Litecoin will certainly remain in the top 10 of cryptocurrencies for some time to come, but its future is clearly not alongside Bitcoin that could revolutionise the monetary and financial system in the future.”

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Litecoin has reported a decrease in its hashrate since mid-2020, reaching its lowest levels since 2020.

At the time of writing, its hashrate was 147.4 TH/s. If the fall is prolonged, it could negatively affect the future performance of Litecoin.

However, it is important to note that the network is now working on some major changes. According to the latest news, the Litecoin Foundation is currently cooperating with Steve Burkett, a developer of the Grin project, to implement MimbleWible in the Litecoin protocol. Once realised, Litecoin could move away from Bitcoin, creating a unique selling point. On the other hand, innovation will reduce fungibility, possibly making Litecoin susceptible to being blocked from important exchanges.

All in all, Litecoin has a great advantage to make improvements to itself much faster than Bitcoin does. However, with the rapid development of new crypto projects that have base codes that are already more fit for micro-transactions and scaling, has Litecoin missed its chance to stay on top?

Litecoin price prediction 2020 and beyond: what to expect in the following decade

It is no secret that the crypto market moves at a rapid pace, making it rather difficult to predict its future. We have made our own investigation to compile a list of the latest Litecoin forecasts from various sources.

Based on technical analysis, TradingBeasts.com, a popular crypto forecast website, predicted that by the end of next year, LTC price will be around $46.23; and only a bit higher in 2021 – up to $67.23. By December 2022, Litecoin is expected to grow to an average of $82.68.

A more optimistic LTC price forecast is provided by Cryptoground.com. Based on an internal deep learning algorithm, it states that LTC will reach $88.30 in one year, rising almost 109.81 per cent. It is expected that the growth will continue, with the coin trading at $347.8 by the end of 2024.

According to the information provided by CoinFan.com, another famous online forecasting service, Litecoin future predictions look rather promising, with LTC prognosed to end 2020 at $276.4. Their long-term forecast suggests the coin will hit $506.8 by May 2025.

George Tung, a cryptocurrency analyst, has the most positive Litecoin projections, saying its price might rise as high as $1,500 towards the end of 2020.

Looking forward, DigitalCoinPrice.com states that Litecoin will have moderate price growth. The positive trend is expected to prevail, with the coin trading at $72 in December 2026.

Regarding the Litecoin price prediction 2030, the coin is expected to end the following decade at $251.44, according to CoinPriceForecast.com.

However, not everyone has taken a bullish stance. Walletinvestor.com, known for their pragmatic forecasts, refers to LTC as a “bad, high-risk one-year investment option.” According to their Litecoin predictions, the coin is expected to lose in value significantly, with its price falling to $4.5 by August 2020. However, it is expected to recover by fall and end next year at $36.8.

In five years, Wallet Investor estimates the coin to drop as low as $0.77 by the end of 2024.

The bottom line: is it worth investing in Litecoin?

The crypto market has experienced several ups and downs over this year. While all the talks revolve around digital money, there are still many questions to answer.

Will Litecoin rise and live up to the expectations of analysts? As you can understand, there is no definite answer to this question. It is very difficult to predict what the price of Litecoin could be in a few hours; and even harder to give long-term estimates. However, according to the forecasts mentioned above, LTC is mainly prognosed to move in a positive direction.

Is Litecoin a good investment for the long term? Well, many crypto enthusiasts believe that the project has the technological strengths that could help it to become even more popular in the crypto world.

When choosing what cryptocurrency to invest in, it is always crucial to consider the latest technical analysis, expert opinion and market trends. For that, we recommend you do as much research as possible.

If you think you are not ready to make long-term investment commitments, but still want to try to profit from the market volatility, you can do so through contracts for difference (CFD).

You can learn more about CFD trading with free online courses and find out how to trade Litecoin CFDs by reading our comprehensive guide. Always stay on top of the Litecoin latest news with Capital.com.

So, what do you think about the future of this digital coin? Will Litecoin go down or soar to hit new record highs? Do you have an LTC price prediction of your own?

Follow our live LTC/USD chart and make your own bets!

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