Bitcoin is the world’s first cryptocurrency and a major revolution in the world economy. But the digital currency also had problems that needed new tokens to enter the market. These tokens were called Altcoins, and one of the leading altcoins is Litecoin. But Litecoin did not follow the right trend as it should, and maybe the question is whether Litecoin is declining or not.
We need to look at the price of Litecoin in the next ten years to see if it is possible to invest in this digital currency in the long run. Is Litecoin a dead digital currency?
What is Litecoin?
Litecoin was one of the modified cryptocurrencies for Bitcoin, launched by Charlie Lee. Charlie Lee’s fame peaked when he sold all of his Litecoin capital at the peak of the digital currency bubble.
Charlie Lee is currently the core of Litecoin. The time it takes to build a block in Litecoin compared to Bitcoin is about 2.5 minutes, while for Bitcoin, it is 10 minutes. This 4-fold increase makes many people prefer Litecoin transactions.
Many believe that the importance of Litecoin is such that if we consider Bitcoin as gold, Litecoin is silver. Both beings are precious and, at the same time, rare.
Litecoin In 2021
Litecoin peaked in mid-2019 when the digital currency experienced a 600 percent increase. However, it returned to its original price a little later.
In 2020, many were asking the question, is Litecoin dead? This cryptocurrency remained firmly on a steady bar and showed no increase or decrease in price.
Starting in 2021, Litecoin broke its price record again but gradually retreated again. However, if investors can maintain the currency, it is unlikely that Litecoin will be revived and record new rates by the end of this year.
John Kim Prediction
Litecoin predictions by John Kim show that the cryptocurrency could reach $ 3,500 in the next ten years. However, this theory is wildly exaggerated.
Penguin Capital Prediction
Penguin Capital also estimates Litecoin at around $ 2,200 for the next ten years, which seems a more reasonable figure.
Dan Gambardella Prediction
Dan Gambardella, on the other hand, is a very successful YouTuber and analyst. He had forecast $ 300 out of $ 4 for Litecoin just a few months earlier. It has already been predicted that Litecoin could rise to more than $ 1,000 in the next five years. So by no means does he think Litecoin is a dead currency.
Profit Confidential Analysts Prediction
In Profit Confidential’s analysis, before Litecoin reached $ 300 in 2017, the company had predicted that the price of Litecoin would be close to $ 200 by the end of 2017. So we can be sure of their $ 1,500 forecast for the next five years.
Charlie Lee Prediction
Litecoin co-founder Charlie Lee also correctly predicted the cryptocurrency when it dropped to $ 20. “Buy Litecoin is very risky now, but if you want to make a 10-year investment, it’s better to buy it, although it is likely to drop to $ 20 again by 2025,” he said.
Litecoin has a ceiling of about 84 million units, of which 66752414 is currently circulating in the market. In 2017, the price of this digital currency stood at its highest rate at $ 417, but a few months later, it reached $ 20.
At the time of writing, Litecoin is priced at $ 145 and has seen a 2% increase over the past week.
Technical analysis is an effective way to predict the price of a cryptocurrency in the short and long term. But how much will the price of Litecoin change from 2021 to the next ten years?
Litecoin Price Prediction 2022 – 2023
For two years, with a reverse trend, the price of Litecoin will probably experience a sharp decline after the peak. Many believe that the cost of this cryptocurrency is around $ 3,000. It will drop again by a few tens of percent. This decline will reach its peak in 2023.
Litecoin Price Prediction 2024 – 2025
During this period, we see the beginning of the re-growth and explosive growth of Litecoin. In 2025, the price of this currency will be close to $ 4,500 to $ 6,000.
According to technical analysis and forecasts, the price of Litecoin in 10 years can exceed $ 10,000. But you should note that the fluctuations of the digital currency market are still very sharp in the next five years.
First, Litecoin can reach its highest price after 2017 by mid-2022. Many experts have estimated the cost at $ 100, not a wrong figure even in the lowest possible case.