25 Aug 2021

8 Alternatives To Bitcoin

is litecoin a good investment

Mimblewimble – a privacy protocol that aims to make cryptocurrency transactions anonymous – is expected to hit the Litecoin network by the end of 2021. At the end of 2017, Lee shocked the Litecoin community by selling all of his litecoin holdings. The sale came a few days after the digital How Does It Work asset hit a high of $375.29 at the time and amid accusations that Lee was manipulating the LTC market via his Twitter posts. In the end, he cited conflict of interest as the reason for the sale. Yes, according to future price forecasts, the Litecoin price is going to increase.

LTC price history includes peaks intersected by long periods of sideways activity. In December 2017 and April/May 2021, Litecoin’s price broke above $250 and reached a peak of about $410 on both occasions before it fell sharply. Based on the data, it can be predicted that it is profitable to invest in Litecoin from the long-term price perspective.

Multiple Crypto Wallets

Although the current Litecoin price is pretty low from the all-time high, we can expect substantial gainsLitecoin movest the condition of Bitcoin. According toDigital Coin, the current price of LTC will rise to $400.22, and we can see this happening next year. After which, it ushered 2019 with a gradual uptrend that lasted until mid-July where LTC was trading at $141.

The maximum price by the end of 2021 can reach the level of $240-$260. On average, the Litecoin rate may change from $210 to $380 throughout the year 2022. The more optimistic forecast comes from PrimeXBT, which claims that Litecoin would potentially reach $10,000 in 2025. Below, you can find a video review of the Litecoin cryptocurrency and its native token, LTC. Yet, the developers of Litecoin have never claimed to compete with the #1 cryptocurrency.

Litecoin Price Prediction: Ltc Fights To Hold Key Support Levels

Litecoin is a decentralised cryptocurrency, an analogue of Bitcoin with faster transaction confirmation times. In the crypto community, it was formerly often referred to as ‘digital silver’ until Ethereum assumed that title. Litecoin was created by Google employee Charles Lee and launched on 13 October 2011 as an alternative to Bitcoin for everyday use. One of the main differences betweenLitecoinandBitcoinis the increased speed of block formation and therefore of transactions (2.5 minutes vs 10 minutes for Bitcoin). Litecoin currently ranks eighth in market cap among all cryptocurrencies. FOMO craze – the craze of missing out on cryptocurrency profits will drive insane numbers of people to purchase altcoins and HODL them. Most of these buyers are newbies without much cryptocurrency skills.

is litecoin a good investment

Litecoin’s improved network doesn’t only extend to processing fees — it also enables users to send coins much faster when compared to Bitcoin’s blockchain. The average Litecoin transaction takes about 2.5 minutes to complete, while the average Bitcoin transaction closes in an average of 10 minutes. Investing in Litecoin typically begins by opening an account with a crypto exchange. A crypto exchange offers you access to a trading platform where you can buy and sell cryptocurrencies by placing buy and sell orders. If you’d like to learn more, all you have to do is enter your email address in the box below. While this is a doomsday scenario, studies have shown that transaction fees alone may not be enough to incentivize miners.

Gobankingrates Crypto Guides

Therefore, with major collaborations with financial institutions, Litecoin can soar up to $1000.74if the above set conditions are met. On the downside, many critics and investors are still doubting the future potential of this altcoin, despite being in space for many years. Hitting such a string, FUD can cause Litecoin price to collapse and hit lows at $154.32. There will always be an audience that buys litecoin and other currencies for as a hedge against the devaluing of fiat currency.

  • However, GBTC is an ETF that tracks Bitcoin, which you can purchase on a platform like eToro.
  • However, like any crypto asset, Litecoin is highly volatile.
  • And look how fast this coin moved from 190 to 275 currently .
  • It’s important to note that cryptocurrencies such as Litecoin can be used as a medium of exchange, but they differ from “fiat currency” issued by central banks and governments.
  • I will always prefer Bitcoin as a superior savings account but Litecoin serves a useful function as a potential payment solution for long-term crypto HODLers.
  • Litecoin currently ranks eighth in market cap among all cryptocurrencies.

Has a long-standing reputation in the crypto market top ten. This sort of investing takes the least amount to skill or effort but leaves potential profits on the table. Those who bought and held would have missed out on substantial profit opportunities. Litecoin has failed to reach a new all-time high in 2021 like Bitcoin or Ethereum has. Experts suggest that LTC’s highest exchange rate may reach $627.81 by the end of 2023. Coin Price Forecast predicts the ultimate boost in Litecoin’s future price.

Bico Crypto: Making A Biconomy Coin Price Prediction

CFD crypto exchange platforms can help traders enhance their earnings even more with leveraged, shorter, and longer contracts. Litecoin is particularly valued due to its tight ties to Bitcoin as well as its digital rarity. On-chain statistics reveal a strong Litecoin network with over the most prominent population accounts and 40,000 transactions processed every 24 hours. Store your Litecoin with Coinbase vault for extra security if you plan to hold LTC long-term. I wrote an entire guide on protecting your Coinbase account for first-time users. A Litecoin supply shock + increased crypto awareness would boost the demand for LTC as a preferred altcoin alternative to Bitcoin.

Cryptocurrency Prices On December 6 2021: Know The Rate Of Bitcoin, Ethereum, Litecoin, Ripple, Dogecoin And Other Cryptocurrencies: – ABP Live

Cryptocurrency Prices On December 6 2021: Know The Rate Of Bitcoin, Ethereum, Litecoin, Ripple, Dogecoin And Other Cryptocurrencies:.

Posted: Mon, 06 Dec 2021 09:33:25 GMT [source]

On the other hand, Cryptoground.com gave a more optimistic prediction based on an internal deep learning algorithm. The site expects that growth to continue in the coming years to reach $347.8 by the end of 2024. But, the event was followed by a major correction that subdued the LTC price below $68 reaching $40 by December 20, 2019.

Bitcoin Vs Litecoin: What’s The Difference?

While Bitcoin is still king, there are a number of alternatives on the rise that could eventually challenge for the cryptocurrency throne. There are thousands of cryptocurrencies that exist, but most folks only know about Bitcoin. While yes, Bitcoin has performed the best (aka, it’s selling at the highest price) out of all of the cryptos available, some others may still be a less volatile investment. Today, I’ll cover eight other cryptocurrencies you should take a look at. Often, crypto exchanges charge flat fees for making a trade, depending on the coin you’re trading. Pay attention to the fees when you trade Litecoin so you know how much you’re paying for each trade.

BICO Crypto: Making a Biconomy Coin Price Prediction – Investment U

BICO Crypto: Making a Biconomy Coin Price Prediction.

Posted: Fri, 03 Dec 2021 21:13:20 GMT [source]

Litecoin is different than other currencies is a couple key ways. We may receive compensation when you click on links to products we review.

How To Invest In Litecoin And Should You Do It

Measured by market capitalization, Litecoin is the 14th-largest cryptocurrency. Dogecoin is a peer-to-peer, open-source cryptocurrency that is categorized as an altcoin.

is litecoin a good investment

LTC then announced the launch date of its Segregated Witness protocol upgrade in March 2017. The news pushed its price to $16 and when the protocol changes were implemented LTC price surged to $30. The developers implemented the Lightning Network which resulted in a price surge to $70.

PrimeXBT requires a minimum deposit of just 0.001 BTC to get started with Litecoin trading. Rather than buying and holding an asset, investors can become traders and try to profit from price fluctuations. Litecoin as a top crypto asset with extreme volatility has led to experts making wild Litecoin price predictions.

With Litecoin, you can transact faster, as well as charge you lower transaction costs, due to which it helps in providing you with many benefits. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. It is specified that the past performance of a financial product does not prejudge in any way their future performance.

What price will litecoin reach?

Litecoin Price Predictions for 2021 by Crypto Experts

By December of 2021, it will have a possible maximum value of around $160 with an average of $128. Overall, the platform forecasts Litecoin’s projection growth.

At that time, Litecoin had a market value of just around $4.40. Many traders view Litecoin as a more sustainable option within the market. For one, LTC often experiences less volatility than its big brother Bitcoin.

At the time of writing this LTC price prediction based on the technical analysis, the price of Litecoin is trading around $180 with a market capitalization of $12,607,423,553. Ethereum is the community-run technology powering the cryptocurrency, ether and thousands of decentralized applications.

Author: William Edwards