For years, Litecoin has been referred to as Bitcoin’s little brother and is a viable alternative to the largest cryptocurrency. Investing in Litecoin frequently produces higher returns than investing in Bitcoin. But how will the Litecoin price move in the coming months? What is the expected price of Litecoin at the end of 2022? and how high can LTC price reach by 2025? are some important questions. This article is all about Litecoin price prediction. Let’s take a look at it in more detail.
What is Litecoin?
Litecoin is one of the market’s most well-known and oldest cryptocurrencies. It was invented in 2011, just two years after bitcoin, and is commonly regarded as bitcoin’s “little brother.” Litecoin is based on an open-source protocol and is deployed almost identically to Bitcoin in terms of technology.
Litecoin’s goal was to make the Bitcoin system efficient, more reliable, and more consistent. Bitcoin’s scaling problems should be aggravated by increasing block processing time. A new block is generated four times faster on the Litecoin blockchain than on the Bitcoin blockchain.
Because of its structure, Litecoin can also generate four times as many blocks (84 million to 21 million). Furthermore, the Proof-of-Work consensus mechanism’s hash algorithm is less computationally intensive than Bitcoin’s. Over the last few years, the prices of Bitcoin and Litecoin have mostly moved in the same direction.
How has Litecoin recently performed?
Fig.2 Litecoin Price Prediction: LTC/USD Weekly chart showing the price – GoCharting
In terms of direction, the price of Litecoin tends to move very analogously to the price of Bitcoin. Traditionally, the Litecoin prediction is heavily dependent on the Bitcoin prediction. After attaining an all-time high in Q4 2021, cryptocurrencies have dropped more steeply in recent months due to the bear market. However, in the last seven days, the LTC price has increased by almost +22.47%. At the time of writing this, the price is trading at $67.77.
Litecoin, on the other hand, reached an all-time high of USD 413 in May 2021. The price then returned to 278 dollars in the fall of 2021 before beginning to fall at the end of the year. As a result, the price of LTC fell as low as $43 in June. After that, the price was able to recover and stabilize somewhat.
Why is Litecoin Beneficial?
⚡⚡⚡LITECOIN⚡⚡⚡ pic.twitter.com/su7Lumvg42
Litecoin was the first cryptocurrency to attempt to improve the Bitcoin blockchain in 2011. Litecoin, on the other hand, decided to follow the very same technical principles while tweaking the criteria mildly. This is how a blockchain that can perform nearly the same functions as Bitcoin was invented.
In the years since, Litecoin has remained in the shadow of Bitcoin, never mirroring its popularity. Even so, Litecoin encountered a similarly swift price rise to Bitcoin. In theory, the prices of both cryptocurrencies are indeed very comparable. When the Bitcoin price increases, so do the Litecoin price, securing the Litecoin forecast very closely to the Bitcoin forecast.
In general, Litecoin could see higher percentage profits than Bitcoin at times, making it a significantly good investment. Litecoin has been extensively utilized as a payment option in recent years, but it has not been capable of competing with Bitcoin. Nevertheless, we continue of seeing substantial rising prices when Bitcoin rises.
How far can Litecoin rise by 2025?
Litecoin may follow in the footsteps of Bitcoin over the next two years. This makes predicting Litecoin even relatively easy than predicting other coins. In general, the path of Litecoin is heavily influenced by the entire market.
Consider possible Litecoin prices for the end of 2022 and the year 2025.
Litecoin Price Forecast for the End of 2022
There are now less than two months until the end of 2022, and cryptocurrency prices are now slightly showing a clear trend. The Litecoin price could continue to track the overall market in this regard. Only a few increases are expected in the bear market at the moment, which may cause prices to rise in the long run.
Moreover, only a few significant price drops are anticipated. Bitcoin is undoubtedly already near the bottom of the bear market, with huge backing at $19,000. Litecoin is unlikely to shift much before the end of the year. With slight market inclines, slight price increases are possible.
2022 Litecoin price range: $40 – $80
Litecoin Price Prediction 2025
Things get a little more interesting when we look three years ahead. The Litecoin price is influenced heavily by the Bitcoin price. The next Bitcoin halving is very likely in 2024. As a result, the price of Bitcoin is anticipated to rise significantly in 2024, especially in 2025.
During the previous bull market, the price of bitcoin exceeded 20 times from bear market lows to all-time highs. This increase was smaller in the case of Litecoin. Even so, we can anticipate the Litecoin price to increase by a factor of 10 to 15 from the bear market to the bull market.
2025 Litecoin price range: $120 – $650
Is it still worthwhile to invest in Litecoin?
Litecoin may still be a good investment in the coming weeks and months. Its advantage is that it has a long history on the market, making it much more established and thus slightly safer than other altcoins. As a result, it is a nice addition to Bitcoin in your portfolio.
You can now buy Litecoin at low prices, particularly during a bear market, and profit more in the following bull market. A revived upsurge in the Litecoin price in the next bull market is thus very highly probable, as the price will most likely follow the Bitcoin price once more.
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