Analysts and forecasters have various views on Litecoin's price in ten years. Some say that the price of Litecoin may increase to $400, While others are much more hopeful predicting that Litecoin LTC could cross $1,000 level in ten years.
Litecoin goes down as one of the most innovative cryptocurrency projects in history. It is considered the first Bitcoin fork and was created in October 2011 and is aimed at addressing the inherent challenges, particularly scalability and low transaction speeds, affecting the BTC blockchain. It can, therefore, be credited with leading a crypto industry revolution that is marked by the creation of highly successful Bitcoin blockchain alternatives.
Over the years, Litecoin has continually leveraged innovativeness in popularizing its blockchain network, and this has gone a long way in pushing up the value of LTC coins. In 2017, for instance, Litecoin became the first of the five largest cryptocurrencies to embrace the lightning network. It even facilitated the transfer of 0.00000001 LTC from Zurich to San Francisco in one second on 11th May the same year.
Around the same time, Litecoin announced the integration of the Segregated Witness (SegWit) technology. And the two are believed to have played a critical role in jumpstarting the momentum that carried LTC coins to the all-time highs of $375 in December 2017.
The Litecoin price has rallied and has been building up for the past six months broke above its 2017 all-time high and set a resistance level around the $410 mark.
Nevertheless, crypto experts are convinced that the Bitcoin fork is far below its ideal price level and may, therefore, sustain an uptrend for the next few years.
Interestingly, this price rally can, to a large extent, be traced back to yet another innovation, the MimbleWimble confidentiality upgrade of October 2020.
Most analysts contend that while Litecoin may have been late in joining the crypto world, its highly innovative approach to the industry gives it a fighting chance.
After looking at the role, innovation has had on Litecoin prices, it's time to focus on its future and decide if it is worth buying. Here, we look at its price predictions for the next ten years, whether it can make you a millionaire, factors that are poised to influence future LTC prices, and how to invest in the altcoin today.
Is It Worth Buying Litecoin?
Crypto analysts believe that now may be a good time to invest in Litecoin not just because it is performing extremely well but also because of its future prospects. Litecoin on-chain metrics support these arguments and affirm why you need to invest in Litecoin today by indicating that 90%+ LTC investors are “In money.”
In explaining why Litecoin is a worthy addition to your crypto portfolio, these experts point out the fact that LTC was up more than 100%+ in 2021 before it shed its price in December like the rest of the market. They also express confidence that Litecoin will reach $1,000 before the end of the current crypto rally and rise above $3,000 over the next ten years.
Coin Price Forecast, a digital asset price prediction website that uses technical analysis to speculate on the future price of coins, suggests that Litecoin LTC may reach $195 before the end of the year, hit $400 within the next five years, and rise to $656 in the next ten years.
Analysts at Long Forecast suggest that Litecoin prices will decrease throughout the year before falling to $117 in 2022. They suggest that the Litecoin price will then correct and rise to around $180 by the beginning of 2024 but then fall to $75 by the end of 2025.
Read More: What Will Litecoin Be Worth In 2025?
Could Litecoin Make You A Millionaire?
Litecoin has an exponential potential for growth that makes it one of the most formidable millionaire makers.
Most crypto experts believe that some costly mistakes in the past derailed the cryptocurrency’s growth. The most impactful being Charlie Lee’s exit and liquidation of his LTC portfolio, as well as the poor leadership that oversaw the crumbling on a much-awaited Litepay project. The derailment, plus Litecoin’s effectiveness, has led most crypto experts to believe that LTC is massively undervalued and that it is only a matter of time before its price skyrockets.
So how much do you need to invest today at the current price of $134 to ensure that the Bitcoin fork turns you into a millionaire in the next few years?
Let us assume the Coin Price forecast’s LTC prediction is right and that LTC will reach $400 in the next five years and $656 in the next ten. If you hope to make a million from LTC investing in the next five years, you will need to buy LTC worth $82,988 (approximately 461 LTC coins) today. If you hope to be a millionaire through Litecoin investing in the next ten years, you will need to buy LTC worth $53,108 (approximately 295 LTC coins) today.
Check Out: 15 Reasons Why You Should Invest in Litecoin
Litecoin Price Predictions For 2030
Virtually every crypto analyst will confirm how difficult predicting the future price of cryptocurrencies can prove. They are the most volatile and unpredictable investment products. Additionally, there isn’t sufficient historical data or fundamental information about the coin to help one make an informed decision. These, however, haven’t stopped crypto analysts from making long-term price forecasts for these coins.
Experts at the Cryptocurrency Price Prediction website are especially optimistic about Litecoin LTC price action for the next few years. They expect Litecoin, the Bitcoin fork, prices to rise gradually over the next few years to reach $1,459 in October 2025 before extending to $3,965 in December 2030.
Should I Invest In Litecoin?
Bitcoin investors and crypto market analysts are optimistic about Litecoin’s future value. They believe that the coin is massively undervalued and that the price of the asset will break out soon, creating a pool of super-rich Litecoin investors.
You, therefore, should consider investing in Litecoin if you wish to share the spoils of the anticipated price breakout. Other reasons that you should consider investing in LTC include:
It is a popular cryptocurrency that has maintained its position among the ten digital currencies with the largest market capitalization for years. Such a fete is an indicator of the value that the crypto community bestows on digital currency.
Increased adoption: Thousands of merchants across the world currently process Litecoin payments. Further, leading international cash processing companies like Visa and PayPal recently integrated LTC into their services. Visa started by launching the LTC-only Visa card, while PayPal made it possible for the public to buy LTC coins directly using their PayPal balances. Experts believe the two will boost LTC adoption as they introduce the coin to new markets.
Increased Bitcoin fees: As Bitcoin popularity soars and its price skyrockets, both the transaction processing fees and wait time increase. And since most merchants and individuals want faster and less costly crypto services, experts are confident that LTC will be winning a huge share of would-be bitcoin users in the future.
Read Also: Is Litecoin a Good Investment?
How Do I Invest In Litecoin?
It is simple, and all you have to do is buy the Litecoin cryptocurrency from a reputable trading platform. We recommend eToro because of their global presence, intuitive user interface, the fact that they give you a free but highly secure online wallet to store your coins.
Here is a step-by-step guide on how to buy LTC on eToro:
Step 1: Start by registering and verifying a user account on eToro.
Step 2: Deposit some funds into the newly created eToro account.
Step 3: From the user dashboard, click on Trade Markets, Select Crypto and search for Litecoins.
Step 4: Choose the “Buy” option and customize the purchase by indicating the number of LTC you wish to buy or the cash you wish to spend.
Step 5: Click on “Open Trade” to complete the purchase.
eToro – Best Platform to Buy Litecoin
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.