Last updated 10th May 2022
Litecoin is a peer-to-peer open-source cryptocurrency that was an early Bitcoin spinoff. In technical details, Litecoin is nearly identical to Bitcoin but with a few minor details that make transfers faster and cheaper. It gained a huge spike during the 2017 bull run peaking at $358.34 before falling below $30. Moreover, in 2021 Litecoin quickly gained value, reaching an all-time high of $386.45 before falling significantly again.
As we can see, Litecoin has performed amazingly during bull runs, making it the perfect asset for investors to buy. We believe LTC has great potential in 2022, and prices are expected to range between $99.78 to $161.60. Also, the Litecoin team has officially announced the implementation of the MimbleWimble Extension Block (MWEB), which would make LTC have high levels of privacy. Many expert investors believe this will boost the price of Litecoin since most crypto users want to remain anonymous.
Litecoin Price Analysis This Week
Litecoin is an ambitious project that is often in the news for its new developments and is one of the first cryptocurrencies created. Below you’ll find some brilliant in-depth Litecoin news sources.
Latest Litecoin Price Predictions by Experts
Litecoin is regarded as a solid project by experts due to its longevity in the crypto market. Since its release in 2013, many investors have been speculating its long-term price forecast. Let’s see what they have to say:
TradingBeasts estimates Litecoin will range between $103.17 to $151.71 in July 2022. By December 2022, the forecast is Litecoin will reach $160.23.
Wallet Investor has forecasted that LTC will reach $202.15 by the end of 2022.
Coin Price Forecast is bullish on Litecoin and believes it can reach $203 at the end of December 2022.
Long Forecast is a well-trusted agency that predicts an average price of $173 for the year 2022.
Litecoin Price Drop Prediction
Litecoin is a fundamentally sound project that is unlikely to fall in price significantly. Short-term, I predict the coin will fall in value as bearish news like crypto laws are being implemented. However, my prediction is Litecoin will quickly gain its value back due to its new MimbleWimble Extension Block (MWEB) technology. This will make Litecoin more privacy-focused and desirable to buy for most crypto investors.
Long Term Litecoin Forecast
The long-term forecast for Litecoin is excellent for investors because the price is predicted to skyrocket. We can expect the price of Litecoin to slowly increase and then significantly jump as the cryptocurrency gets more adopted worldwide. Below is a table that you can analyze for specific yearly prices.
Monthly Litecoin Price Forecast for 2022/2023
Now let’s discuss the monthly price forecast for LTC. Our prediction is Litecoin can go beyond $150 with the right market conditions.
What Impacts Litecoin Price?
Litecoin has performed outstandingly since its creation and has retained high value. However, many beginner crypto investors don’t understand what can impact the price of LTC. Let’s take a look at why Litecoin’s price fluctuates:
Roadmap: A roadmap is a great indicator of what to expect from a cryptocurrency. Certain roadmap events are pivotal for a coin to progress and significantly increase the price if successful.
News: Unfortunately, the news can impact cryptocurrency prices positively and negatively. For example, world events like the Ukrainian war or the pandemic made the crypto market fall tremendously.
Laws: New cryptocurrency laws are often negative because they increase taxes for investors. This makes the market swing downward as institutions pull their funds into less risky assets.
Market conditions: How the overall market is performing heavily influences Litecoin’s price. During a bull market, LTC will gain significant value and may breach new all-time highs. However, with bear markets, Litecoin loses most of its value as investors sell their coins.
Advertisements: Marketing is a huge factor because it can increase Litecoin’s value if done correctly. LTC getting exposure means more investors will find out about the project and possibly invest.
Upcoming Litecoin Events
Litecoin is set to upgrade its blockchain to use MimbleWimble Extension Block (MWEB), which will add fungibility and privacy to the network. Users can decide to activate this upgrade to gain complete anonymity by disclosing the amount of crypto sent, who sends it and the recipient’s address.
Litecoin Historical Price Changes
Historically, Litecoin has performed well since its creation and has always kept its value. Let’s examine the year-by-year statistics of LTC.
|2022||$153.39||$94.11||N / A|
Litecoin Price Prediction Chart
Litecoin vs Bitcoin Price Prediction
Litecoin and Bitcoin are often compared for having similar blockchain technologies. Also, they are commonly referred to as digital silver and gold for their noteworthy value in the crypto market. Although both coins have similar networks, Litecoin has improved on Bitcoin’s design, resulting in faster and cheaper transactions.
In the foreseeable future, Bitcoin will always have a larger market cap and value than Litecoin. This is because it has a first movers advantage and is widely popular in the cryptocurrency space.
Live Price Chart of Litecoin: USD
Litecoin Price Prediction FAQs
Best Brokers to Buy Litecoin
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Litecoin Price Predictions
Litecoin is one of the many cryptocurrencies on investors’ radar. However, you may want to learn about some other projects to diversify your portfolio: