What Will Litecoin Be Worth In 2025?
The last few months have seen an exceptionally strong bullish run in the cryptocurrency world. The market-wide bullish run, however, seems to be slowing down now, and the question on everyone's minds is, "what is next?" In this case, the thing that remains salient on anyone’s mind is, "what is next for the price of Litecoin?"
Crypto experts are expecting Litecoin value to set a new all-time high this year, and over the next five years, disrupt the coin market chart. PrimeXBT opines that Litecoin is off to a strong start already, setting a new all-time high at the beginning of 2022. They expect Litecoin to close at $400 this year and aggressively push towards $7,000 per coin in the next year.
Litecoin is no doubt one of the most popular and earliest altcoins. It is a fork of Bitcoin and enjoys prestige just like Bitcoin, especially with its low fees and microtransaction ability.
Litecoin was at around $180 at the time of this publication, with a market capitalization rate of $12B. This is phenomenal, considering that the coin deals in microtransactions.
What most people wonder now is what the next price movement for LTC will be. Will Litecoin be going up or down?
In order to answer these questions, we need to note that Litecoin is one of the world’s major cryptocurrencies — and one of the most promising and dynamic. Unlike Bitcoin, Ethereum, and other big names, its big strength isn't based on decentralization. Rather, this dynamic digital currency has claimed investors and traders hearts because of its low fees and microtransaction abilities.
In spite of the volatile nature of cryptocurrency, many experts believe that Litecoin’s unique market position could be the single stabilizing factor that all cryptocurrency seems to lack and need at this moment. The microtransactions could be all the stabilizing factor needed.
This article features some of the recently updated expert predictions on Litecoin. It examines both the short and long term Projections of the coin and tries to explain why experts think Litecoin will go even higher than it already has in recent times, especially in the next five years. First, let's understand the coin itself.
Read More: Should You Buy Litecoin?
What is Litecoin LTC?
In order to justify the predictions and projections on the status of this digital currency, it is important for users, traders and investors to be aware of what place Litecoin takes in the large scheme cryptocurrency things. What is Litecoin, and what is its origin and use case? How is it different from any other coin on the market?
When Litecoin first came into existence in 2011, its name was commonly used to describe both its payment platform and native currency.
As beautiful as the very idea of Bitcoin is, Bitcoin sports some serious problems such as the specification of use case, scalability, complete and utter decentralization, to name a few.
The best altcoins have always been coins that have specific pre-designated use cases. Many founders and traders, and enthusiasts believe that this specification of purpose would eventually reduce the success of Bitcoin and act as leverage for the other coins.
Many altcoins like Bitcoin Cash have focused on Bitcoin’s lack of scalability. However, Litecoin took aim at another defining feature of the crypto: its exorbitant fees. So when next you think of Litecoin, think of it as a digital currency that leverages lower transaction fees.
Unlike many other digital currencies that offer traders, users and investors a way to make online transactions without needing a central financial body (which can be slow, potentially insecure, and costly), Litecoin aimed its use case at making it easier for those very same centralized financial bodies to make payments by dealing at significantly lower expenses. Payments between firms and institutions can be even cheaper, with much higher volumes.
Litecoin helps corporations send and receive payments in Litecoin. It offers a global currency that takes such minute fees from transactions. A problem that fiat and many other cryptocurrencies face today.
Read Also: Pros and Cons of Investing in Litecoin
Litecoin LTC Price Prediction for 2021-2022
Economy Forecast Agency comes with a bullish prediction for LTC price. They valued Litecoin LTC at $210 by December 2021 but suggested it could rise as high as $430 by the end of 2022. And yet another bullish prediction comes from FXLeaders, who predicts a price point for Litecoin at $250 and $300 by the end of 2021 and $500 – $600 in 2022.
What this means is that by the end of the year 2021, you can expect a giant leap in the price of LTC. It is, however, important to also note that FXStreet anticipated that if Litecoin could break its $300 price region, a significant rally in price is likely inevitable.
Perhaps this is it.
Long-term Litecoin Price Prediction: 2023-2025
In a long term, the price of Litecoin is likely to climb more steadily in the next five years.
Litecoin is making a clear breakout. PrimeXBT suggests that with Litecoin building a price base over the last two years, reaching new highs and retracing to form new support, you can expect a bear cycle sometimes in mid-2023.
This is normal for cryptocurrencies. There is always an underlined pattern (cycle) that every digital currency obeys or sets for itself. However, in the case of Litecoin, there won’t be a major retracement until 2023 or until Litecoin reaches $7,000. After that, a new cycle will emerge that will usher in a new all-time high.
In simpler words, the current uptrend in Litecoin LTC is predicted to last till mid-2023, when it sets for itself a new price point of $7,000. But what then follows is a downtrend that will form a new support. After that Litecoin will be ready to rise again, this time potentially reaching tens of thousands per LTC.
Check Out: Could Litecoin be a Millionaire-Maker?
How Has The Price Of LTC Changed In The Past?
Every digital currency follows a path or a cycle. It is an infinite process defined by Bull Runs and Bearish Retracements. This is what happens when a coin reaches a new all-time high and hits a downtrend within the same timeframe. It sets a base point, then sets itself up for another bullish run.
As a crypto enthusiast or would-be investor, it is important that you understand the price history of a coin so that you can make better buying decisions.
Litecoin was first listed on trading sites on 26th May 2013. It opened the year with $3.123 and peaked at $3.262. Its opening market capitalization was $12,245. At the end of that year, LTC set an all-time high of $24.02. The next year, LTC increased its market share to $373,762, trading at $23.93 at the beginning of that year. However, it began to retrace later that year and dropped to about $2.766 at the close of 2014.
Its market cap dropped significantly to $98,430. Between 2013 and 2014, LTC completed a cycle, and a new base price was formed at $3.553.
2015 was a significant year for Litecoin. It marked the beginning of a new cycle for LTC. A cycle that extended to the middle of 2018. LTC traded at $4.490 at the beginning of 2015, build up along an uptrend, and peaked at $224.35. Its market cap grew simultaneously and capped at $638.18M.
However, the latter part of the year 2018 was a big crash for all altcoins. LTC retraced to $31.83, signaling the end of another cycle. The following year after the price crash was the beginning of a new cycle. LTC formed a base price of $44.51 and then began the current Bull Run of LTC.
Will The Price Of Litecoin Go Up In 2025?
DigitalCoin thinks that the price of Litecoin could go up in 2025 and be valued at $571 by the end of 2025. WalletInvestor predicts Litecoin to have a trading price of $538 within 2025. Coin Price Forecast estimates that Litecoin asset to have a price of $436 in 2025.
However, this requires no guesswork if all analysis hold true. 2023 is likely to be a recap of 2019 for LTC. IT was in 2019 that Litecoin began its current bull run. It stabilized its price at $44.51 and started to consolidate, expanding its market cap and building more volume.
PrimeXBT predicts that the new base price for LTC will be $400. They expect LTC to retrace once it reaches $7000, sometimes in 2022 or 2023 at most. When this happens, the current cycle will end, and a new one will begin. The anticipated new cycle is expected to peak in 2025. You can expect Litecoin LTC to go as high as $6,000 or more.
However, CoinPrice predicts a possible trading price of $292 in 2022 and as much as $422 in 2023, going up to $436 in 2025.
Either way, Litecoin is on a path of price explosion going into the next five years. If there is any better time to explore this digital currency, it is now.
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