Will Litecoin reach $5000, $10,000 and $50,000?
Latest Litecoin Price (USD)
Litecoin – Buy or Sell? Crowd Poll
- July 4th – 44.9%
- Aug 31st – 41.7%
- Oct 17th – 40.3%
- Nov 7th – 39.1%
- Dec 1st: +44.1%
- Most Commonly Used Cryptocurrencies for Transactions(October Month)
- Litecoin ranked 2nd with 28.9%; Bitcoin ranked 1st with 38.4%
- Transactions Count (Last 6 Months)
- Litecoin ranked 2nd with 91,638 transactions; Bitcoin ranked 1st with 107,078 transactions.
Will Litecoin reach $10,000? What is Litecoin
Litecoin is a P2P digital currency whose purpose is to enable instant payments to anyone across the globe. It is a completely decentralized global payment network.
LTC has a maximum supply of 84,000,000 tokens and out of which 72,557,952 tokens (which is 86% of the total token supply) are already in the circulating supply of the market. The following are the use cases of the LTC token:
- Litecoin can be used for P2P transactions all around the globe.
- Many travel companies (such as Travala.com) accept LTC as a payment method.
- LTC provides an easier and less complex way to carry out international transactions.
- The Litecoin project was released under MIT/X11 license which provides its users with the power to modify the software.
- Litecoin allows faster confirmation times and better storage efficiency compared to its peers.
- Litecoin blockchain can handle more transaction volume when compared to Bitcoin.
- Litecoin network makes use of the Scrypt algorithm for mining, thus making the network comparatively faster.
Litecoin is the second cryptocurrency (after Bitcoin) that was launched to be a P2P digital currency. LTC is simple and has clear utility, just like BTC. What makes it better than its alternatives are its speed and cost-effectiveness. For instance, transaction fees for LTC are negligible and the transactions get confirmed within minutes.
In comparison to Bitcoin, Litecoin provides multiple functionalities, including peer-to-peer transactions, daily transactions, and international transactions.
On the Litecoin network, a new block generation takes 2.5 minutes, while new blocks are generated every 10 minutes on Bitcoin. It means that compared to BTC, new block generation is 4 times faster on Litecoin Network and its transaction throughput is 4x faster.
Therefore, the Litecoin network is a little better than Bitcoin in terms of its transaction speed and processing time. Overall, considering the use cases and key features of Litecoin, it appears to be a moderate case for investment.
Will Litecoin reach $5000?
In order for Litecoin to reach $5000, it would need to increase by a factor of 60.1. At $5000, Litecoin’s Market Cap will be $0.367 trillion. If Litecoin were to grow at a rate of 25% each year, it would take about 18.3 years to reach $5000. Let us evaluate this data
- Quality of Investment- Good
- Growth required to reach $5000- Feasible
- Market Cap at $5000- Partially Feasible
- Time required to reach $5000 if Litecoin were to rise at 25% per annum- Not Feasible
Considering the criteria Quality of Investment, growth required and time required, Litecoin has a good chance to reach $5000.
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 $50,000?
In order for Litecoin to reach $50000, it would need to increase by a factor of 601.2. At $50000, Litecoin’s Market Cap will be $3.677 trillion. If Litecoin were to grow at a rate of 25% each year, it would take about 28.6 years to reach $50000. Let us evaluate this data
- Quality of Investment- Good
- Growth required to reach $50000- Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher)
- Market Cap at $50000- Not Feasible
- Time required to reach $50000 if Litecoin were to rise at 25% per annum- Not Feasible
Considering the criteria Quality of Investment, growth required and time required, Litecoin has moderate chance to reach $50000.
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.