Litecoin Price Prediction

Litecoin (LTC) is a cryptocurrency that launched shortly after Bitcoin. The “gold standard” of crypto — Bitcoin — was revealed to the world in 2009, while Litecoin followed on its heels in 2011. Litecoin is often called the “silver” to Bitcoin’s gold and is accepted as a form of payment in more places than many other alt-coins.

Litecoin is one of just four cryptocurrencies that users can buy and sell on the payment platform Venmo, along with Bitcoin, Ethereum, Litecoin and Bitcoin Cash. To trade most cryptocurrencies, users must open an account on a crypto exchange like Coinbase, Gemini, eToro or Kraken, which were all rated by GOBankingRates.com in the top 8 of cryptocurrency apps. You can also trade Litecoin on any of these exchanges.

Like other cryptocurrencies, you can invest in Litecoin. You can also mine Litecoin, which means that you are verifying transactions to help the blockchain run quickly and efficiently, earning coins in exchange for the computer processing power you are providing.

Litecoin processes transactions faster than Bitcoin, which makes it viable as a common medium for daily transactions, ultimately. It also has a larger circulating supply, which is helping in its widespread adoption but also keeping its value lower than Bitcoin, according to NerdWallet.com. The more coins that are in circulation for any currency, the lower the value since there is more to go around.

The maximum circulating supply of Litecoin is 84 million coins, while Bitcoin has just 21 million coins.

What makes Litecoin so special? And, most importantly, what is Litecoin’s price prediction? What will Litecoin be worth in 2022 and beyond?

A Brief History of Litecoin

Litecoin was developed off a fork in the Bitcoin blockchain, making it very similar to the world’s largest cryptocurrency by market cap. Since cryptocurrency was originally developed as an alternate payment method, Litecoin developers were hoping to further democratize crypto mining, taking it out of the hands of larger enterprises to disburse the wealth.

However, Litecoin failed at keeping away enterprise miners, but succeeded in becoming a widely recognized and respected alt-coin. Founder Charlie Lee, a former Google engineer, first released 150 pre-mined Litecoins to the world in 2011. In April 2022, only 14 million of Litecoin’s 84 million coin supply are left to mine.

The blockchain was designed so that, as the supply diminishes, new coins will be created more slowly to preserve Litecoin’s value. The rewards for creating new blocks are halved as time goes on. By 2023, miners will earn just 6.25 LTC per verified transaction, compared to 50 LTC when Litecoin launched and 12.5 LTC in 2022.

This knowledge of halving and the coin’s supply still leaves questions unanswered. For starters, what will Litecoin be worth in 2022?

What Will Litecoin Be Worth in 2022?

On June 13, 2022, Litecoin is worth $43.89 USD per coin. The coin dropped nearly $4 in value — more than 8% — on June 13, which is in line with the overall crypto market downturn. In the past month, it dropped more than 35%, or nearly $24.

Bitcoin dropped more than 12% on June 13, losing $3,355. In the past month, from mid-May to mid-June, Bitcoin dropped more than 20%.

Litecoin started its life worth about $3 per coin and eventually gained 140% of its value by 2020. At the end of 2021, LTC closed at $146.51, more than three times the value it holds in June 2022. But this can hardly be considered a downtick for Litecoin, since the entire crypto market has fallen in 2022.

Overall, Litecoin’s widespread acceptance — particularly for small, peer-to-peer transactions — along with expected integrations and partnerships, bode well for the coin. Developer Charlie Lee recently introduced confidential transactions, making Litecoin even more enticing to consumers and, as a result, investors.

In early June, the Changelly blog predicted that Litecoin is set to rise for the remainder of 2022. The site pegs its minimum cost by the end of the year at $80.43, with a maximum of $94.71 possible. And Changelly is just one of the sites bullish about Litecoin’s future.

CoinPriceForecast.com thinks Litecoin will reach $50 by the middle of this year — which is close at hand. The June 13 price isn’t very far off from $50. However, the site isn’t as bullish as Changelly and believes LTC will top out at $55.32 by the end of 2022.

Tradingbeasts.com is equally bullish about Litecoin for 2022, estimating a minimum price of $46.52 by the end of the year, with a maximum of $68.41, which would represent 26.68% growth.

On the other hand, Longforecast.com doesn’t have such a good short-term forecast for Litecoin. The site’s Litecoin price prediction is that it will drop rapidly, losing as much as 77% of its value by December 2022. That would bring the coin to a range of $14.45 to $18.50.

What Will Litecoin Be Worth in 2025?

Skipping ahead to 2025, Litecoin seems to have a bright future. Changelly predicted that Litecoin could go as high as $295, with a minimum of $250.15.

CoinPriceForecast.com is also bullish, indicating that the coin’s value will rise steadily through 2025, hitting a peak of $98.71 by the end of the year.

Tradingbeasts.com believes Litecoin will go up by roughly 57%, reaching a maximum of approximately $85 and will hit $57.79 as a minimum in January. It will break $100 per coin in October 2025, and end the year up 93%, with a maximum price of $104.35.

LongForecast.com, on the other hand, predicts that LTC could lose as much as 66.6% by the end of 2025, eventually settling in at $22.82.

Where Will Litecoin Be in 5 Years?

The major forecasters show LTC following a positive trajectory over the next five years. It could reach $115.79 by the end of 2027, according to CoinPriceForecast.com.

Changelly has a highly optimistic view, predicting Litecoin to reach an average of $527.48 five years from now, with a possible high of $642.78.

Again, Longforecast.com is bearish on the coin, thinking it could drop as low as $8.48 in 2026, the last year for which the site has published a Litecoin price prediction.

What Is the Litecoin Price Prediction for 10 Years From Now?

It is difficult to look 10 years out with any cryptocurrency predictions. It’s important to note that Litecoin is a highly volatile, speculative investment just like any alt-coin and even Bitcoin. LongForecast.com, which sees Litecoin ultimately crashing, could be right.

But the majority of expert analysts see Litecoin steadily climbing over the next decade.

Again, Changelly has the most aggressively optimistic predictions. The blog forecasts Litecoin hitting a maximum price of $2,723.71 by 2031. That means if you invested just $100 in LTC mid-June 2022 at the price of $43, you would have $6,353.74 by 2031.

Trading-education.com is even more bullish on Litecoin, predicting a jump to $4,028 by the end of 2030.

CoinPriceForecast.com predicts that LTC will see gains of 206% by 2032, reaching $130.71.

Does Litecoin Have a Good Future?

If you trust most of the experts, Litecoin does, indeed, have a good future in the crypto market. Although it is not within the top 10 most popular or most-traded cryptocurrencies, it is widely accepted, easy to trade and still lucrative to mine.

It has a market cap of roughly $2.9 billion in mid-June 2022, and ranks No. 20 in volume based on the market cap compared to all cryptocurrencies traded today.

But is Litecoin the next Bitcoin? The answer is probably not. Not alt-coins have even been able to come close to Bitcoin’s influence in the crypto world. At its highest, Litecoin was trading at $412.96 in May 2021. This doesn’t even come close to Bitcoin’s all-time high of $69,000 in December 2021.

And, as the crypto market plummets of late, with Bitcoin down 65% from its all-time high, LTC is falling, too. That doesn’t mean it’s a bad long-term investment, though. The company that runs the blockchain has strong fundamentals, a solid reputation and a useful offering with a network that provides security, accessibility for smaller miners and fast transaction speeds.

Should You Buy Litecoin Now?

If you believe most of the experts that Litecoin is only set to rise over the next decade, you’ll want to get in while Litecoin is several hundred dollars away from its historic high. GOBankingRates.com spotlights Litecoin’s relative stability compared to other cryptocurrencies as a huge benefit.

On the other hand, now’s a good time to mention that you should never invest more than you can afford to lose in any deal, whether you are investing in cryptocurrency or meme stocks.

If you are prepared to buy and hold Litecoin for the long haul, you could stand to gain a lot of money from a small investment. But keep in mind that the crypto market has lost more than 50% of its value in recent months and Litecoin is amongst the coins dropping in value.

Market downturns are often the perfect time to invest, when you can buy crypto or stocks you believe in at a lower price. But you must be willing to hold through the dark times to realize potential profits in the end. And then, of course, it’s a trick to gauge the high point — or at least a point that’s high enough for you — to cash out on your investment.

If you’d like to invest in Bitcoin but don’t have enough cash to make a difference considering the price of the coin, Litecoin can be a good entry point for investing in cryptocurrency.

Conclusion

If you’re looking to buy Litecoin, you can do so easily using your Venmo balance or with the balance in your bank account tied to Venmo. You can also purchase Litecoin through one of the best crypto exchanges, including Coinbase or Kraken.

Remember, don’t invest more than you are willing to lose, since the future of crypto — as with any investments — is uncertain.

Information is accurate as of June 14, 2022.

This article originally appeared on GOBankingRates.com: Litecoin Price Prediction