Did you know that Litecoin has been among the top 10 cryptocurrencies (by market cap) for longer than any other digital currency – except Bitcoin? And despite having it rough in the past three years, which were characterized by multiple bubble cycles, Litecoin is well on its way towards its winning days.
Currently, Litecoin LTC is valued at $133 (falling shy of its all-time high of $412 hit in May 2021). For the last quarter of 2021, Litecoin, the Bitcoin fork, enjoyed a wild momentum that saw its price jumping to $278. Analysts attribute this to the then crypto market rally, its price correlation with BTC prices, and its continued adoption as the preferred medium of exchange by different institutions and merchants.
But how far up can Litecoin prices reach? What will Litecoin be worth by the end of 2022 and in the next five years?
Analysts and Litecoin investors are generally optimistic about Litecoin’s long-term performance. Some even expect the coin to break above $1,000 in the next five years.
For instance, analysts at LiteForex – the investment news and price prediction website – expect the cryptocurrency to reach $370 within the next five years. Digitalcoinprice price prediction for the earliest Bitcoin fork is more bullish. The forecasting website expects Litecoin to break above the current all-time high and reach $420 within the next five years.
The most optimistic Litecoin price prediction, however, comes from PrimeXBT that suggests that LTC’s will suffer another bubble cycle between 2022 and 2023 before bursting above $10,000 by 2025-2026.
In this Litecoin Price prediction guide, we look at the digital currency’s medium-term price projects, tell you if it’s a good investment, and give you a step-by-step LTC investment guide.
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Is Litecoin Worth Buying?
Several factors make Litecoin a valuable addition to any short trader or long-term investor portfolio. First is the fact that the coin has maintained an uptrend and recorded one of the most attractive ROI – over 6,500% based on listing price. Secondly, the digital currency has the backing of one most reputable development teams, charged with suggesting and coming up with upgrades to the Litecoin code as well as championing its adoption.
Crypto experts are also convinced that Litecoin is yet to see its best days. While some believe that the current crypto market rally may see the coin set new all-time high prices, others are convinced that Litecoin will only catch the eventual big break a few years down the road.
Analysts at Coinpedia.org, for instance, believe that Litecoin is a good buy for short and medium traders. They project that the coin will end 2022 trading at $712 and possibly reach above $1,000 in the next five years.
Technical analysis of Litecoin prices Long Forecast suggests that the digital currency will peak in Mid-2023, recording highs of $215 before correcting and settling at around $71 by the end of 2025.
Price forecast experts at Trading Beasts are also convinced that Litecoin will sustain a meek uptrend for the next few years, which makes Litecoin a valuable buy. They expect the LTC coin to end the year 2022, trading at between $102 and $150 and rise to around $307 by December 2025.
Could Litecoin Make You a Millionaire?
Litecoin’s growing popularity and continually uptrending price action is testament enough that the cryptocurrency could help turn millionaires out of ordinary investors. There is a catch, though. You will have to commit to a long-term Litecoin investment, especially when small capital is involved.
Like any other investment, how soon you make a millionaire from your Litecoin LTC investment will be highly dependent on factors within and beyond your control. Some of the factors that you can control include the investment amount and your patience (investment period). The rest include price fluctuations, the impact of LTC network upgrades to the coin’s price, government interference in the crypto industry, the crypto market direction, and even the price of Bitcoins.
Currently, one Litecoin is valued at $133. Let us assume that the LTC price influencers beyond your control remain constant for the next five years and that Coinpedia price prediction is correct (that LTC will rise to $1000, a 651% price jump). You would need to invest approximately $133,000 today.
We must, however, mention that Crypto investments are highly speculative, pegged on many variables and, therefore, immensely risky. You are advised to start slowly and only invest what you can afford to lose.
Read More: Could Litecoin Be A Millionaire-Maker Coin?
Litecoin Infrastructure Role In Its Net Worth
Litecoin’s infrastructural design and has played a key role in helping determine Litecoin’s value. But what key aspects of this Litecoin design have a direct impact on its price and to what extent:
Upgrades to the LTC mainnet
Litecoin has been subjected to several updates and upgrades since its establishment in 2011. The most impactful yet, however, came about in the last quarter of 2020. Dubbed the MimbleWimble upgrade and nicknamed the ‘privacy protocol’, the upgrade sought to improve Litecoin’s privacy by shielding the platform user’s identity. It is, to a large extent, believed to have precipitated the LTC bull run last year.
The Litecoin network is lighter (hence the name ‘Lite’) than Bitcoins, primarily because it was designed to solve the key challenges Bitcoin network. To this extent, Litecoin is faster in transaction processing, and it maintains lower processing fees. These give it an edge over Bitcoin and Ethereum as the preferred payment currency as the transaction processing time, and fees continue to rise with the increased usage of the two blockchains.
Integration of the lightning network protocol
Litecoin was the first of the top 10 cryptocurrencies to embrace the lightning network protocol. It was also among the earliest cryptocurrencies to embrace the Segregated Witness (SegWit) technology. These have not only helped improve user confidence in the altcoin but also speak to its sustainability.
Litecoin Price Prediction For 2025
Crypto experts at Wallet Investor are optimistic about Litecoin’s future as they expect the LTC coin to reach $282 by the end of 2022 and rise to $570 by the end of 2025.
Coinpriceforecast is equally optimistic about Litecoin’s future price as it expects the cryptocurrency to end the year trading at $190 and reach $296 by December 2025.
PricePrediction analysts are expecting Litecoin to cross an average price level of $809.84 in 2025. Moreover, LTC can reach a maximum price level of $954.
Should I Invest In Litecoin?
You should consider adding Litecoin to your portfolio not just because of its popularity but also because of its potential for growth. By solving virtually all the key challenges facing Bitcoins, Litecoin has positioned itself as the best alternative payment method.
Other factors that lead analysts to believe that Litecoin prices are bound to improve and why you should invest in the coin include:
- Litecoin adoption: According to the Litecoin Foundation, the adoption of LTC as the preferred payment method has been peaking pace across the world. They add that there currently are over 20,000 merchant stores and online trading platforms processing LTC payments. Most recently, Grayscale Investment Holdings purchased over 1 Million worth of different cryptocurrencies, including Bitcoins, and paid for it using Litecoins.
- Litecoin has been consistent: Litecoin is a consistent top performer. While most of the earliest Cryptocurrency projects have been knocked off the top ten list, Litecoin has maintained this position since its debut in 2013.
- Bitcoin is becoming ineffective: Bitcoin and Ethereum’s effectiveness as reliable payment methods is crushing under pressure as their adoption peaks. Transaction processing on either platform is expensive and painfully slow. Analysts are, therefore, confident that most merchants looking for fast and inexpensive payment methods are more likely to side with LTC than either BTC or ETH.
After looking at Litecoin price predictions and determining whether it is a good investment or not, it's time to look at where and how to make your first Litecoin purchase.
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How Do I Invest In Litecoin?
eToro presents you with a highly advanced but easy-to-use trading platform where you can buy your first Litecoin. Here is the step-by-step process on how to make the purchase:
Step 1: Set up a trader account with eToro and verify your identity.
Step 2: Deposit funds into this account.
Step 3: On the user dashboard, click on the Trade Markets tab and select Litecoin from the list of supported cryptocurrencies.
Step 4: Customise the trade by specifying the amount of Litecoins you wish to buy
Step 5: Click on “Open Trade” to confirm the purchase.
eToro – Best Platform to Buy Litecoin
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