Will Litecoin reach $10000? Litecoin Price Prediction 2023, 2025, and 2030
Will Litecoin reach $10000? In Theory, this is quite feasible. In practice, this may take a fairly long time and hence uncertain
Read about Litecoin Price Prediction 2023, 2025 and 2030
Latest Litecoin Price (USD)
How has Litecoin performed this year?
- Last 1 Month: +41.8%, Parity*
- Last 3 Months: +69.7%, Outperformer
- Last 12 Months: -12.6%, Outperformer
Is Litecoin a Good Investment?
Litecoin is designed with the aim to provide secure, low-cost, and fast payments and it leverages the unique features of blockchain to fulfill its purpose. The crypto is built on the BTC protocol but has a different hashing algorithm, block transaction time, and hard cap.
Litecoin was launched as an alternative to Bitcoin and is widely referred to as the silver to Bitcoin gold. It was developed by Charlie Lee in 2011.
It was originally created to address the developer’s concerns that Bitcoin was becoming too centralized and to make it more difficult for large mining companies to dominate the mining process. Although it ultimately failed to prevent mining companies from monopolizing the majority of Litecoin mining, the cryptocurrency has since evolved into a minable coin and a peer-to-peer payment system.
Here are a few Litecoin Use Cases
Below mentioned are three main use cases of LTC:
- LTC coins can be used as a payment method in many companies such as Travala.com and Future.Travel.
- LTC is often used for peer-to-peer transactions because of its fast, secure, and inexpensive transactions.
- Litecoin can also be considered a store of value because of its growing and evolving ecosystem.
OmniLite makes it easier to create decentralized tokens, smart contracts, and digital assets like tokens and NFT. Due to its integrity, network security, scalability, and very cheap fees, Omnilite has a distinct advantage over other blockchains.
On the Lightning Network, micropayments are governed by smart contracts, which are rulesets that must be followed for transactions to occur. When compared to the fees collected by miners on the main blockchain, the fees are probably quite minimal. Compared to miners, Lightning Network nodes have much simpler work to accomplish.
The Litecoin cryptocurrency allows instant payments to anyone, anywhere in the world, using peer-to-peer technology without the need for a central authority.
Overall, Litecoin has numerous use cases and hence a future comparable to numerous POW cryptocurrencies.
Litecoin Performance Statistics
LTC Returns over the last 6 years
- 2017: +3858%
- 2018: -80.7%
- 2019: +117.5%
- 2020: +90.7%
- 2021: -15.5%
- 2022: -50.0%
Over the 6 years, LTC has had 3 good years and 3 years when the returns were negative. Overall, one could describe it as a moderate investment.
As a use case, Litecoin is better designed for payments than most cryptocurrencies. Further, being Proof of work, it is closer to Bitcoin which is these days seen in a different light from the rest of the Proof of consensus Altcoins.
What Makes Litecoin Different from Bitcoin?
- The SHA-256 algorithm, which rewards computing power, is used in Bitcoin mining. The “scrypt algorithm” used by Litecoin promotes fast random access memory over computing power.
- Another important difference is that the scrypt algorithm may be employed on less powerful computers, enabling users to start mining Litecoin on personal computers without incurring the cost and learning curve of doing so.
- Transactions in Litecoin are processed much faster than those in bitcoin, but this speed has a few disadvantages as well
Competitors of Litecoin:
Competitors to Litecoin based upon its use cases, differences, and also reliability of blockchain, and ease of use of blockchain. Some of the important competitors of Litecoin are:
Litecoin price prediction: Will Litecoin go up?
Litecoin is the middle or fag end of a surge. Some have explained this away due to halving due in July 2023. Another explanation is that since the crash of FTX, Proof of work cryptos have performed relatively better. Over the last 30 days, 8/10 out of the top POS cryptocurrencies fell by more than 20%. Among POW Cryptocurrencies, just 2 fell by more than 20%.
Litecoin’s future price will depend on how the current crypto crisis plays out. Should there be more scams and scandals, LTC is likely to gain in the long run. LTC in itself is an average cryptocurrency but is likely to outperform POS cryptocurrencies over the next 3 months.
Litecoin’s price history and movements
Price movements are always one of the crucial factors to determine and predict the price of crypto. Below is LTC’s all-time graph; we can see that the coin peaked at $387.87 in May 2021.
Image: LTC’s all-time graph
Before this, LTC’s price was hiked to $359.13 in December 2017 and then dropped to the lowest price of $23.46 in December 2018. The data indicates it took LTC 29 months to reach its all-time high price of $387.87 from the lowest value of $23.46. Meanwhile, it grew by 16.53 times.
Also, keeping in mind, its current price of $76.78, we can safely say that LTC’s price has declined by 5.05 times in nearly 19 months, though it has faced many fluctuations in between.
Now, considering a growth rate of 16.53 times (which it has shown to reach its all-time value) which it completed in 29 months, we can say that it can grow at a rate of 0.57x in one month.
Growth curve of Litecoin’s competitors- Ripple
Let’s also have a look at how Litecoin’s competitor has done so far this year. LTC’s one notable competitor is Ripple (XRP). Below attached is XRP’s all-time graph:
Image: XRP’s all-time graph
XRP’s all-time high price was $3.11 which it achieved in January 2018. Its price was $0.0059 initially, meaning it took Ripple 53 months to reach its all-time high value. Meanwhile, it grew by more than 527 times. Therefore, it has shown 43.91 times growth in one month (before covid breakout).
Will Litecoin reach $10,000?
To reach a level of $10,000, LTC requires to grow at a rate of 130.24x keeping in mind its current price of $76.78.
Therefore, it should theoretically reach a value of $10,000 in 19.04 years (keeping in mind its 0.57 times growth in one month). However, it is not the only factor to consider and it is not practical either.
Here, one thing to note is the difference in macroeconomic and liquidity factors in recent times, compared to earlier times. It means that LTC cannot show a 0.57 times growth in one month, as opposed to the previous years.
Nonetheless, LTC has many use cases in real life and has a huge supporting community behind it, which can certainly help its price to increase in the future. So, will Litecoin reach $10,000? Certainly, yes, but not sooner with the current macroeconomic factors. However, if the conditions turned out to be in its favor, then it can indeed reach that value in the time calculated above
Will Litecoin reach 1000?
To reach $1000, Litecoin needs to grow by 13.17 times, considering its current market price of $75.9.
Note that LTC reached an all-time high value of $296.1 in May 2021 where it grew by 10 times in 29 months (from its lowest value in December 2018). It means that LTC can show a growth of nearly 0.344 times in one month.
Therefore, it would need a minimum of 242 years to reach a price of $1000. However, it is only possible if the macroeconomic and liquidity factors remain the same. It might reach that value a little sooner if inflation and other economic factors ease out.
Nonetheless, 246 years is not at all practical for XRP to reach that value. Hence, we cannot expect XRP to reach $1000.
Litecoin Price Prediction 2023, 2025 and 2030
- Litecoin Price Prediction 2023 is $182
- Litecoin Price Prediction 2025 is $334
- Litecoin Price Prediction 2030 is $1506
Litecoin Price Prediction Today: Outlook Summary
|1. Market's Wisdom||Partially Positive|
|1a. Market Data||Neutral|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Higher|
|2b. Social Media Sentiment||Lower|
Litecoin halving 2023: Will it impact LTC’s price in 2023?
What is Litecoin halving?
Litecoin halving is an event to reduce the LTC rewards per block to half i.e., after the Litecoin halving events, users get half the number of LTC to mine each block. This event occurs once every four years.
Let us also try to understand why this halving is done. As we know that the Fiat currencies (such as dollars, euros, and rupee) allow the bank to print them and this, as a result, causes inflation. Thus, when no further money is printed, the value of the same should increase because of the increased demand.
In the case of Litecoin, LTC’s total supply is capped at 84,000,000 Litecoins. The fixed supply makes Litecoin a scarce asset and deflationary (unlike fiat currencies).
Therefore, LTC halving is scheduled to occur after every 840,000 blocks till the maximum supply is generated by the Litecoin network. Hence, the sole purpose of Litecoin halving is to preserve its purchasing power.
Litecoin halving history
There have been two halvings since the launch of Litecoin in 2011. The first Litecoin halving was done in August 2015 when the block reward got reduced to 25 LTC.
The most recent (i.e., the second one) Litecoin halving took place on 5th August 2019 and then the mining rewards were halved to 12.5 LTC per block.
When is the next Litecoin halving?
After the two successful Litecoin halvings in 2015 and 2019, the upcoming Litecoin halving is scheduled for August 4th, 2023. Following this, the block rewards will be reduced to 6.25 Litecoins.
Does halving impact price?
Note that every halving event reduces the inflation rate and thus, pushes up the price of crypto. It is simply because the decrease in supply results in increased demand. And, when the demand goes up, the prices ultimately increase.
Litecoin halving effect on LTC’s price: How high could Litecoin go?
Litecoin’s all-time high price was $377.67 which it achieved in May 2021 and it took LTC 29 months to reach that all-time high from its lowest price of $23.8. meanwhile, its price grew by 15.86 times.
Considering this 0.54 times growth in one month and its current price of $68.63, we can safely say that LTC’s price can grow as high as 32.4 times in the next 5 years. Thus, it can be expected to reach a price of $2,223 in the next five years.
Litecoin halving plays a major role to preserve its value, as discussed earlier.
However, considering the current liquidity situation and other macroeconomic factors, it is highly unlikely for LTC to grow at a similar growth rate as it did in 2021. Therefore, it is not expected to reach that value sooner.
Litecoin halving dates
|Litecoin halving dates||Block||Block reward (in LTC)|
|7th October 2011||0||50|
|25th August 2015||840,000||25|
|5th August 2019||1,680,000||12.5|
Note that Litecoin halving is scheduled to occur after every 840,000 blocks and is expected to occur once every 4 years till its maximum supply is reached. Therefore, the last Litecoin mining is expected to be completed by the year 2142.
How many Litecoins have been mined?
As of now, nearly 71,926,230 LTC has been mined which is around 86% of its maximum supply of 84,000,000 tokens.
Current Litecoin block reward
As we know that the miners get rewards for generating new blocks to the Litecoin network. Litecoin halving reduces the number of LTC rewards by 50% for the miners to verify transactions.
Note that Litecoin’s block reward, in the beginning, was 50 LTC. After two successful Litecoin halving Litecoin’s block reward now is 12.5 LTC and it will be halved to 6.25 LTC once the upcoming Litecoin halving is done in 2023.
Reddit Community Discussions
In a recent discussion on Reddit, users are discussing that Litecoin is likely the safest crypto currently. Let’s analyze the discussion.
One user wrote that he regrets buying LTC when it was worth $1. Another user commented that Litecoin does what it was supposed to do and hence is a good coin.
One user even commented that its increased price in the last 3 months making him nervous because he is not used to crypto going up lately.
To sum up, users have mixed opinions about Litecoin and it is really hard to say whether it is the safest option because of the highly volatile nature of cryptocurrencies.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.