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In general, Litecoin has some chances for upward price movement. First, this cryptocurrency is one of the most successful Bitcoin forks. Second, it provides fast transactions, so many people will use it as a payment system. Third, mining Litecoin is easier than Bitcoin or Bitcoin Cash . If the price for BTC and BCH rises, LTC will be in better shape, too.

There are more than 5,000 cryptocurrencies available today. Litecoin continues to stand out from this crowd, impressing investors to consistently maintain a spot in the top ten cryptocurrencies. Moreover, in 2017 Litecoin was the first cryptocurrency to complete a Lightning Network transaction. If Litecoin expands its partnership with Lightning Network to achieve consistently faster transaction times, then its value may increase quickly.

The trading volume and liquidity are different for each exchange and those differences are what affects the price. 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. Litecoin has a lower market cap than other cryptocurrencies. It still maintains a strong lead above other cryptocurrency platforms. Bitcoin offers more basic abilities and has been the jumping-off point for other cryptocurrencies that try to improve on what Bitcoin had to offer.

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At the same time, Charles Lee made a statement that he would sell all his LTC coins for system transparency. Many members were worried that this could cause a depreciation, but there wasn’t any correction. At the very beginning of 2014, the situation rapidly changed.

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In the first few months into 2021, a storm of exponential growth ravaged the crypto market, coin prices skyrocketed following BTC’s upsurge, and new highs for a lot of cryptocurrencies were formed. For the first three months of 2017, LTC’s price remained stable. The ‘silver’ cryptocurrency was trading for $3-$4 and didn’t give investors any hope. In the summer of 2015, many members of the cryptocurrency community discussed a possible increase in LTC’s price due to a halving of its mining block reward.

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What Is Litecoin Ltc?

2019 brought wider adoption and new partnerships for Litecoin. Payments network Flexa added support for the cryptocurrency in July, which meant more than 39,000 merchants could immediately start accepting Litecoin for a variety of goods and services. This likely contributed to the increased and sustained trading volume that Litecoin has experienced since 2019.

These, along with other factors, contribute to a completely different valuation than Bitcoin. Many people began to speculate on prices, leaving the market very unstable. The summer of 2019 was a good period for this crypto coin because it had risen to $135 per coin. However, its price fell again and traded within the range of $40 to $60 for the majority of 2020. Hope arose again for enthusiasts in early 2021; the pump in crypto price saw Litecoin regain its all-time high at over $400 to a Litecoin.

The exponential growth wasn’t sustainable, of course, and the price has declined ever since. Like Bitcoin , Litecoin is also subject to halving events. Halving events happen at predetermined block heights and cause the amount of LTC awarded to miners for each block they mine to be cut in half.

What Is The Highest Price Of Litecoin In Eur?

The other supporters are advisors, investors and ambassadors or play other roles. Some investors are proud of Litecoin, while others are disappointed with it. Still, for the most part, people don’t believe in Litecoin, which is why LTC lost its positions, according to CoinMarketCap.

It’s not as easy to interpret the real factors for a coin’s rise and fall in the crypto world. This might be due to decentralisation, the complete absence of any regulatory authority or more recognised growth-filled speculation. Its low exchange rate allowed people to buy the necessary number of coins in anticipation of a future price increase. The price of Litecoin how to accept ethereum payments has been on an exciting journey in its long crypto history, from being worth $0.30 in 2011 to reach an impressive $340 at the end of 2017. Though it hasn’t managed to reach that high of a price since Litecoin continues to innovate and expand its reach. The inherent volatility of the cryptocurrency market means that surges and crashes are just par for the course.

Earlier in the same year, Litecoin creator Charlie Lee was recruited by popular cryptocurrency platform Coinbase. This may have increased general awareness and confidence in Litecoin and contributed to its rally later that year. This was once more followed by a decline, though not as sudden as the last one, dragging on until the price of Litecoin dropped below $25.

With Litecoin, most transactions happen within minutes or hours. Bitcoin is still the leading cryptocurrency, and no current competitors pose a real threat to the company. But Litecoin shows potential for gaining traction in the market. On 2 December 2017, the chart for the entire duration of Litecoin’s existence reached the $100-mark for the first time, and on 12 December, the value exceeded $200. The price continued to grow rapidly before surpassing $320 on the evening of 12 December.

How Blockchains Differ From Banks

When Litecoin was first introduced in 2011, two years after Bitcoin, it quickly gained a following and reached a price-per-coin of $0.30. By the middle of November 2013, Litecoin price had climbed up over $4, and then in the space of less than a fortnight, it shot up more than 1,000% to peak at around $50. This was followed, however, by a similarly sudden crash back down to below $10 and the previous high wouldn’t be revisited for some years.

Cryptocurrencies and derivative instruments based on cryptocurrencies are complex instruments and come with a high risk of losing money rapidly due to leverage and extreme asset volatility. You should carefully consider whether you fully understand how cryptocurrency trading works and whether you can afford to take the high risk of losing all your invested money. LTC’s price prediction today must be based on technical analysis. They have a great chance of moving LTC’s price higher if that support holds long enough for market sentiment to explode once again like it did last year. Awareness and adoption also seem to be driving forces on the price of Litecoin.

What Can I Do To Prevent This In The Future?

Long Forecast’s LTC price predictions are not particularly rosy for this decade. They’ve predicted that the coming years will see LTC’s price consolidate a lot within the $100-$160 price range. Their prediction suggests that 2023 may be the best in this decade as LTC may trade to $156 before crashing to $40 in 2026. They predict that LTC will not go higher than $133 and may close the year around $97. It doesn’t get much better in 2023 but begins to pick up in 2024 when they expect Litecoin to trade as high as $202.

• LTC technical analysisThat story is old now, and the price has declined greatly, and for a time, doom was whispered across the crypto market.
• If hackers can access the Litecoin platform, their steps are easily traced.
• Ideally, by the end of 2018, a ‘silver’ coin might be sold for $500.
• It’s not as easy to interpret the real factors for a coin’s rise and fall in the crypto world.

Unsurprisingly, the price of Litecoin is also influenced by project news and updates from developers. Also in May 2017, Litecoin finally received a Coinbase listing. There are plenty of alternatives https://xcritical.com/ to Bitcoin and other big-name cryptocurrencies. If you’re ready to invest in some crypto, consider these affordable options. With skyrocketing valuations, cryptocurrencies are becoming more popular.

There were also major sponsorship deals with UFC and the Miami Dolphins which led to even greater public awareness of the project. Litecoin also generates new blocks in two and a half minutes, as compared to ten minutes for block creation with Bitcoin. Both of these factors make Litecoin more appealing for cryptocurrency transactions, with Bitcoin functioning as a storage space. As cryptocurrency continues to grow in popularity and use, more upstarts are appearing on the market.

Litecoin saw a small increase in the spring of 2018, but then it fell to $20. LTC is promoted by the not-for-profit organisation Litecoin Foundation. Today, there are only two full-time developers at this foundation.

Litecoin Price Prediction 2019

Find out which cryptocurrencies could be the next to explode in value in 2022. It shows consistency but doesn’t have the type of growth that wows investors. Doesn’t allow edits to transaction records, preventing hackers from accessing the system and stealing currency. Because there are simply so many new projects with better conditions. We’ll tell you about our expectations, but let’s first look at some forecasts.

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In January, LTC was valued above $20, but from February on, a downward trend became apparent. By the summer, its price was above $10, but on 15 June 2014, it passed the psychological mark of $10 and, by the end of the year, the price again dropped to $2. The increased block size reduced the possibility of transaction freezes. The number of LTC mined per block will continue to drop by half, roughly every four years, until a total of 84 million LTC has been mined. The most recent halving occurred on 5 August 2019 and the next one is expected to happen on 5 August 2023, when the block reward will be reduced from 12.5 LTC per block to 6.25 LTC.

There was a resurgence in the first half of 2019, but it didn’t yet have the momentum to break through $150 again. By the start of November 2020, Litecoin was trading at around $55, at which point the price began climbing again and reached $240 in 2021. There have been some interesting moments in Litecoin’s long price history, and if you want to understand more about its movements, you’re in the right place. We’ve compiled everything you need to know about the past price action of Litecoin – and the various factors that influence it. Its price range is appealing to investors because it continues to prove it can compete in the market, and there is still a lot of room for growth. If hackers can access the Litecoin platform, their steps are easily traced.

This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. The live price of Litecoin varies from moment to moment, as it’s dictated by the balance of buyers and sellers on exchanges – which is in constant flux. Litecoin’s first major surge at the end of 2013 came hot on the heels of Bitcoin’s 2013 bull run, which no doubt drove the Litecoin rally.