At the beginning of 2018, 14,400 Litecoins were being mined a day, the maximum number possible. PrimeXBT products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. Once a new all-time high is set and the reversal begins, another bear market starts.
That we’re bound to see massive price hikes over the next decade or so as the technology breaks into the mainstream. While we can’t guarantee a profit, chances are investing in Litecoin now could result in significant gains down the line, assuming interest keeps rising. Trading Litecoin can be a rollercoaster of ups and downs.It’s impossible to predict Litecoin’s price perfectly. That said, there’s a lot of positive sentiment surrounding the asset, especially in its long-term. The platform predicts Litecoin should hit $106 early next year before falling a bit come February. However, Litecoin should be on a significant uptrend the rest of the year, remaining at or around the $130 mark and peaking at $135 in November 2021. The group believes Litecoin will drop to $69 before the year’s end, averaging around there for most of 2021 before hitting a potential $80 in December. 2022 should see a slight but consistent increase, peaking at around $108 at the end of the year.
Litecoin Market Overview
It has a fixed max supply, so it is not subject to inflation and debasement like fiat currencies. Later, the price consistently started to soar with certain variations. According to Coinpedia’s formulated Litecoin price prediction, Several recognized institutions could invest and accept LTC as a payment. It is a possible reality because of the fact that LTC lowers transaction speed and costs, which seems appealing. The main goal being to remove those pesky emotions which often lead to FOMO or FUD. Instead, you let an automated trading bot trade for you based on cold hard facts and data – not stress and pressure. That’s not to mention that Bitcoin is on a high streak as of this writing. While both assets’ prices aren’t 100% correlated, one can expect that if people are flocking to Bitcoin, some of those users will check out the other cryptocurrencies in the top 10. Litecoin is sure to receive some positive press from there, considering it is to be the silver to Bitcoin’s gold.
Visit our currency converter page to convert LTC prices to currencies other than USD. If you plan on storing small amounts and prefer having access to your funds on-the-go, so that you can make quick transactions, then mobile wallets are a convenient option. Mobile wallets are hot wallets that come in the form of a smartphone app for iOS and Android. Once you download and install it on your phone, you will be able to send and receive Litecoin payments with just a few clicks. Among the most popular mobile Litecoin wallets areLitewallet , Coinbase,Coinomi,Jaxx Liberty, andAtomic. Although hardware wallets don’t come for free, they are the most popular and secure option to store your cryptocurrencies. The good thing is that you can choose from a wide range of options, as almost all of the leading solutions support Litecoin. Trezor One,Ledger Nano S,KeepKey are just a few of the hardware devices that you can use to ensure the secure storage of your Litecoins. Thanks topartnerships with third-party payment networkslike the one with the New-York based blockchain startup Flexa, Litecoin payments are making progress and becoming available to an increasing number of users.
Could Litecoin Increase In Value?
After more than three years of mostly sideways and downwards movement, seeing prices dip as low as $1.30, Litecoin began to grow steadily in the spring of 2017. By December of that year, Litecoin had eclipsed its previous high by creeping up to $100, and then, over a couple of weeks, it shot up another 240% to set a new all-time high around $340. Yes, Litecoin might be a good investment if you are thinking of investing for the long term. However, in May 2014 Litecoin dropped to $10 and then in October to $3 per coin. Then the crypto was traded between $1 and $4 for three years, until 2017. LongForecast predicts that Litecoin will trade in between $117 to $146 in the month of December 2021. The price is expected to decline and maintain a narrow trend until the end of 2025.
It is the investor’s responsibility to do his/her own research and analysis and act accordingly. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. Here you can track the daily opening, high, low, and close, along with volume and percentage change. Today, as per Coinbase, the price of Litecoin is ₹ 12,487, with a daily change of 0.71%. It’s a high-risk, high-reward investment, even if those rewards have paled in comparison to some of the most popular coins. Thanks to historical price records, it’s easy enough to find out how much any crypto investment would be worth today.
The market cap of Litecoin is equal to the current market price of Litecoin multiplied by the number of LTC in circulation. As more users find out about cryptocurrency, more will be willing to get involved with mining as well. Considering Litecoin is quite an accessible asset, we’re bound to see more miners enter the market, bringing more assets into circulation and affecting its price. This literally halves the rewards given to miners for successfully validating a block. Each time this happens, Litecoin becomes a little bit rarer, and the price is projected to increase as a result. It’s impossible to track exactly what price changes are due to the halving instead of other factors, but one can be sure it plays a role in any changes of value.
Which is better Litecoin or ethereum?
Currently, Ethereum has no limit, meaning no “scarcity”. Litecoin has a maximum limit of 84 million coins. It is a bit smarter than Litecoin; because the Ethereum platform helps Ether transactions happen naturally. That’s why we call them “smart contracts”.
A blockchain is a digital ledger recording cryptocurrency transactions, maintaining records referred to as ‘blocks’ in a linear, chronological order. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Litecoin is a peer-to-peer virtual currency, which means it is not governed by a central authority. Litecoin’s network offers instant, near-zero cost payments that can be conducted by individuals or institutions across the globe.
Litecoin Price Prediction 2021
This success can be largely attributed to its simplicity and clear utility benefits. As we previously touched on, Litecoin was founded by Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry. The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a “lite version of Bitcoin,” in that it features many of the same properties as Bitcoin—albeit lighter in weight. To learn more about this project, check out our deep dive of Litecoin.
- How high Litecoin’s price will go in time depends on several factors.
- Although Litecoin wasn’t the first altcoin to come to life after the creation ofBitcoin, it surely is among the most successful ones.
- Bitcoin uses the SHA-256 algorithm, whereas Litecoin makes use of a newer algorithm, called scrypt.
- Outside the frame, Litecoin acts as a medium of exchange and is proving to be a stable and inexpensive asset!
With certain price swings, LTC reached $66.65 by mid-August and plunged further. With the expansion of Bitcoin’s price rally, LTC was trading around $87 by the end of November. Following the price surge, LTC ended the year 2020 at a trading price of $128. Further, the price plunged to reach the low of $116.46 during April. Later in the mid of December, LTC shockingly dropped to $24.50 with the value of a litecoin bear’s acquaintances. Further, the price started to pour and managed to reach $28.74 at the end of 2018. In March 2017 Litcoin announced the launch date of their SegWit protocol which affected the rate and the coin achieved $16. Then in May LTC launched the protocol which pushed the price to $30. Also, the dev team implemented Lighting Network which attracted more attention to the coin.
You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. Make sure to always have backup copy in secure & secret locations. With that in mind, it is important to mitigate the risk of losing private keys or having your coins sent over to unintended recipients. At the height of the scaling debate in 2017, Litecoin was the first among the top 5 proof-of-work cryptocurrencies to adopt Segwit in May 2017, with Bitcoin following a few months later in August 2017. Since its inception, Litecoin has closely followed Bitcoin closely. Litecoin’s core protocol updates are mostly based on Bitcoin’s core protocol updates. Litecoin uses a different proof-of-work algorithm called Scrypt, while Bitcoin uses the SHA-256 algorithm. Scrypt is a memory-hard algorithm which was initially created to be ASIC-resistant.
The Kitco Litecoin price Index provides the latest Litecoin price in US Dollars using an average from the world’s leading exchanges. Learn about Altcoins, how they work, and which are the most popular. Launched in the year 2011, Litecoin is an alternative cryptocurrency based on the model of Bitcoin. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein.
Interestingly, the group notes that off-chain transactions are on the rise, meaning that investors are purchasing Litecoin on exchanges like Coinbase and other spaces at an increasing rate. This could be seen as investors buying the assets to use as traditional currency – meaning they’re buying goods and services with Litecoin and other cryptocurrencies. Finally, the Litecoin platform has recently seen the launch of LiteBringer, an RPG video game that runs on the network. Gaming is often seen as the ideal way to teach users about blockchain, as it’s a fun way to learn about the ins and outs. LiteBringer allows users to buy in-game items, which increases the transactions on the Litecoin network. This can make the blockchain more appealing to outsiders, bringing in more money and increasing its value. Given that Bitcoin was the first cryptocurrency to surface in the market, the other digital currencies that emerged are referred to as altcoins.
All of them work in the same way – you have to move your mouse or input some characters to add randomness to the generated sequence. Then your wallet will be created, and you will have to print it and store it at a secure place. Litecoin enjoys a healthy and liquid market, better than those of other cryptocurrencies. This means that all positive developments in the Bitcoin world will inevitably affect Litecoin as well. It is safe to say that Litecoin complements Bitcoin, instead of competing with it.
Much like Bitcoin, Litecoin also does not have a set exchange rate in the beginning, so its price is fully determined by the markets’ perceived value by supply & demand. It has a circulating supply of 69 Million LTC coins and a total supply of 84 Million. If you are looking to buy or sell Litecoin, WOO Network is currently the most active exchange. The cryptocurrency was valued at more than 184 U.S. dollars per coin during August 2021, a price that was nearly two times higher than in November 2020. Litecoin’s price was relatively volatile in recent years, revealing high price swings between months. Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.
Or in other words – the chance to mine Litecoins successfully by using an ordinary computer is way higher than in the case of other cryptocurrencies. Due to the fact that the Litecoin network grows at a steady rate, though, we are slowly marching to a point where mining will require ASIC hardware. So, although for now, GPUs will do the job, it is worth knowing that the more powerful machine you have, the better chance to earn a reward you get. Bitcoin was the first-ever cryptocurrency, sparking an entire industry of altcoins created in hopes of improving upon what Bitcoin sought out to achieve. Among the most common improvements altcoins attempt to make over Bitcoin, is improved transaction speeds. Litecoin is the first crypto asset to do so successfully, and it has cemented Litecoin’s place in the crypto market and as a financial asset with long-term growth potential. A list of the top Litecoin markets across all crypto exchanges based on the highest 24h trading volume, with their current price.
What can u buy with litecoin?
Almost all of our eGift Cards can be purchased with litecoin. You can purchase gift cards from categories like food, clothing and accessories, gaming, entertainment and merchandise of almost every kind using Litecoin at eGifter.
Author: Omkar Godbole