Litecoin Price Prediction 2024: Will LTC Stay Above $100?
What's next for Litecoin?
Key Takeaways
- The amount of Litecoin mined per block halved on August 2, 2023.
- LTC struggled in a hostile market, losing more than 20% in a day in the middle of August and underperforming, despite a recovery.
- Litecoin is one of the longest-lasting altcoins.
- One Litecoin price prediction says LTC can reach $253.04 in 2025.
Litecoin, which was founded in 2011 as an alternative to Bitcoin (BTC), is one of the longest-serving altcoins. The crypto has earned itself a following. Although it rarely makes the headlines, it can be seen as a strong and reliable crypto performer.
Interest in Litecoin rose in 2023 as it built towards its latest halving. On August 2, the amount of LTC available to its miners went down by 50% in a bid to keep the price up.
The platform will be holding the Litecoin Summit in Nashville, Tennessee, in July this year. However, on February 20, Litecoin Foundation Managing Director Alan Austin admitted that the crypto’s price performance could have been stronger.
On April 3, 2024 LTC was worth about $102.40.
Litecoin did not immediately respond to a request for comment.
But what is Litecoin (LTC)? How does Litecoin work? Let’s see what we can find out, and also take a look at some of the Litecoin Price Predictions that were being made as of April 3, 2024.
Litecoin Coin Price Prediction
Let’s examine some of the Litecoin price predictions being made on April 3, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $91.98 | $191.74 | $479.34 |
| Prediction #2 | $136.27 | $211.88 | $1,257 |
| Prediction #3 | $206.81 | $253.04 | $747.83 |
First, CoinCodex had a short-term Litecoin price prediction that said the coin would rise to $106.10 by April 8 before going up further, reaching $112.51 by May 3. The site’s technical analysis was extremely bullish, with 27 indicators sending encouraging signals and just two making bearish ones.
Litecoin Price Prediction for 2024
CaptainAltCoin said LTC would fall to $91.98 by December. PricePrediction.net said it would get to $136.27 this year. DigitalCoinPrice forecast Litecoin to trade at $206.81 in 2024.
Litecoin Price Prediction for 2025
DigitalCoinPrice said Litecoin would trade at $253.04 in 2025. CaptainAltCoin said it would be worth $191.74, while PricePrediction.net had LTC at $211.88 next year.
Litecoin Price Prediction for 2030
Moving forward to a more long-term Litecoin price prediction, PricePrediction.net said LTC would trade at $1,257 in 2030. DigitalCoinPrice thought the coin would be worth $747.83 that year. CaptainAltCoin had an LTC price prediction that saw the crypto reaching $479.34 by the start of the next decade.
Google Gemini AI Price Prediction for Litecoin (as of April 3)
Google’s Gemini AI platform gave the following price prediction for Litecoin on April 3. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.
Short-term (Next 30 days):
- Prediction: Mild increase, possibly reaching $99.40 (based on Binance’s forecast).
- Reasons: Recent upward trend and positive technical indicators suggest continued growth, but overall market volatility could limit gains.
Medium-term (Next 6-12 months):
- Prediction: Mixed outlook, ranging from $69 to $120.
- Reasons: Conflicting analyst opinions. Some predict a rise towards $120 based on overcoming resistance levels, while others see a potential drop below $100 due to broader market uncertainties. Bitcoin’s price movements will also significantly influence LTC.
Long-term (Next 5+ years):
- Prediction: Generally positive, with predictions ranging from $132.68 (Binance) to $880 (Coincodex) by 2030.
- Reasons: Litecoin’s established technology, limited supply due to halving events, and potential for wider adoption could drive long-term growth. However, regulations and the overall cryptocurrency market’s performance will also play a major role.
Important to consider:
-
- These are just predictions, and the actual price could be much higher or lower.
- The cryptocurrency market is highly volatile, and unexpected events can significantly impact prices.
- Always do your own research before making any investment decisions.
Recent updates from Litecoin
Litecoin underwent a halving on August 2, 2023. This meant the amount of Litecoin people could mine dropped from 12.5 LTC per block to 6.25 LTC per block.
Data from on-chain analytics company Santiment found that larger LTC holders had been accumulating Litecoin in the run-up to the halving.
Furthermore, the number of new Litecoin wallets went up in anticipation of August 2’s event.
Since then market conditions have seen the price of LTC take a hit. Nevertheless, the news that LTC had improved its PayPal utility and had seen the number of transactions on the BitPay crypto payment processor will have encouraged investors.
On February 20 2024, Litecoin Foundation Managing Director Alan Austin took to Twitter to reiterate that LTC was a team effort.
He said: “Has the price of Litecoin been disappointing? Of course it has. No one feels this as much as those who’ve been working on Litecoin adoption each and every day.”
He added: “Litecoin Foundation has a small paid staff, most of whom who have accepted much less than they can be making elsewhere, because they are passionate about what they do and believe in the importance of sound money and financial privacy in our lives.
“So before pointing the finger at Litecoin Foundation or it’s team because you are frustrated about price, or complaining that the Foundation isn’t doing enough, remember that this is a decentralized movement and ask yourself what you can be doing to help?
“Because if you’re relying on any single organization or individual for Litecoin’s success, then you’re missing the point on what it takes for a decentralized project to become successful.”
LTC Price History
Now, let’s examine some of the highlights and lowlights of the Litecoin price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Litecoin price prediction.
For the first few years of its existence, LTC hovered between $1 and $5. The crypto bubble of late 2017 and early 2018 gave it a boost, and it rocketed to more than $300 in December 2017.
It dropped after that as the market experienced a so-called crypto winter, but in early 2021 the market picked up again. LTC responded well and it reached its all-time high of $412.96 on May 10. After that, though, it slipped down. LTC closed 2021 at $144.56.
2022 was a bad year for crypto, and LTC fell significantly. In the wider context of the overall crypto market, though, it was one of the better performers. A series of market crashes saw it drop below $45 in the middle of June and, although there was a small recovery, it was worth $67.79.
This meant that it fell by nearly 55% across the year. However, when we consider that the market dropped by almost 65% in 2022, LTC was an overperforming crypto.
Litecoin in 2023 and 2024
In 2023, the market got better, but Litecoin’s price underperformed. It broke past $100 early in the year. LTC experienced peaks and troughs, falling below $70 following the collapse of the Silvergate bank in March.
There was a quick recovery, but the coin fell to a low of $72.02 on June 14 when the market struggled following the announcement that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase crypto exchanges.
LTC made a recovery, reaching a high of $114.50 on July 3. After that, though, it dropped again. By August 16, it was worth $79.46. The following day saw the market collapse after Elon Musk’s SpaceX offloaded millions of dollars worth of Bitcoin and US government bond yields rose. As a result, Litecoin dropped to $61.76. More of a downturn was to come, with LTC dropping to $58.04 by September 11. The coin then became one of crypto’s best performers over the following week, peaking at $6.26 on September 19, 2023.
By the end of the year, Litecoin was worth $72.80. This meant it had risen just 7% in 2023, a year when the overall crypto market more than doubled.
By February 23, 2024, the coin was worth about $68.20.
March saw the market flourish, as Bitcoin reached a string of all-time highs. By April 3, Litecoin was worth about $102.40.
At that time, there were 74.3 million LTC in circulation out of a total supply of 84 million. This gave the coin a market cap of about $7.6 billion, making it the 19th-largest crypto by that metric.
Litecoin Price Analysis
After peaking in the Spring of 2021, LTC sank to a low in June 2022.
This bottom was the third time the price of Litecoin hit a significant support line, originating from the lows in December 2018, and March 2020. A decrease on September 11 2023 saw the price fall to $58, touching the ascending support line for the fourth time, where it hovered until the end of January 2024.
Litecoin rebounded from this historically robust support level. When its price approached resistance around the $100 mark, it started to struggle. Its previous climb to this area and the higher low of $58 could have been the first two sub-waves of a new bullish phase.
If this is the case, then the rise from $58 could be its next five-wave impulse that should see it reach a higher high than in July 2023, potentially reaching levels above $150. A breakout above the currently encountered horizontal resistance would confirm this.
But before LTC can continue decisively, a retest of the broken resistance for support would be needed. This is why we will most likely see an increase to $130 in the short term followed by a return to $100.
Is Litecoin a Good Investment?
It is difficult to tell. While Litecoin has always seemed to perform comparatively consistently – and even outperformed the market in 2022 – it isn’t exactly a glamorous coin. It has not performed well since its halving, but overall market conditions will not have helped there. More to the point, when the blockchain’s foundation’s MD admits LTC’s recent performance has been disappointing, its worth paying attention.
We will also have to see if LTC can get some more real-world uses which could help bring it to the attention of a new generation of potential holders.
As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in LTC.
Will Litecoin go up or down?
No one can tell right now. While the Litecoin crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Litecoin?
Before you decide whether or not to invest in Litecoin, you will have to do your research, not only on LTC, but on other, related, coins and tokens such as Bitcoin Cash (BCH) and Bitcoin SV (BSV). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Who is the Founder of Litecoin?
Charlie Lee , a computer scientist and early Bitcoin adopter, founded Litecoin in 2011. The Massachusetts Institute of Technology graduate and former Google and Coinbase employee sold most of his LTC in 2017. However, he still serves as the managing director of the Litecoin foundation.
Who Owns the Most Litecoin (LTC)?
On April 3 2024, one anonymous crypto wallet held 2.98% of the Litecoin supply.
Richest LTC Wallet Addresses
As of April 3 2024, the five wallets with the most Litecoin were
- M8T1B2Z97gVdvmfkQcAtYbEepune1tzGua. This wallet held 2,504,667 LTC or 2.98% of the supply.
- MQd1fJwqBJvwLuyhr17PhEFx1swiqDbPQS. This wallet held 2,276,043 LTC or 2.71% of the supply.
- ltc1qr07zu594qf63xm7l7x6pu3a2v39m2z6hh5pp4t. This wallet held 2,225,001 LTC or 2.65% of the supply.
- ltc1qn9rs0j0d6dc6vtc7yw2h8qyzxy425m3tvlxlfl. This wallet held 911,050 LTC, or 1.08% of the supply
- ltc1qp7cnlxmz8wgc93g0m020ckru2s55t25y3wunf6. This wallet held 783,381 LTC, or 0.93% of the supply.
Fact Box
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 84,000,000 |
| Circulating supply on April 3, 2024 | 74,380,281 (88.55% of maximum supply) |
| Holder distribution | Top 10 holders own 13.59% of maximum supply as of April 3, 2024 |
From the Whitepaper
In its technical documentation or whitepaper , Litecoin describes itself as the “silver to Bitcoin’s gold” and as a “real alternative” to BTC.
It says: “Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open-source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their finances.
“Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume, and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.”
Litecoin (LTC) Explained
Bitcoin is the original cryptocurrency. However, Satoshi Nakamoto’s brainchild is not without its disadvantages. For instance, the Bitcoin blockchain can be slow and unwieldy. This means people not only have to wait longer for their transactions to be carried out, but it also costs them more money.
Litecoin aims to be a faster, easier, and cheaper, version of Bitcoin.
The platform exists primarily to support its native coin, which is known by the ticker handle LTC.
In May 2023, however, Litecoin launched its LTC-20 tokens, cryptocurrencies based on the Litecoin blockchain, as an experiment. LTC-20s could, potentially, be the system’s equivalent of non-fungible tokens (NFTs).
How Litecoin Works
Litecoin, like Bitcoin, uses a Proof-of-Work consensus mechanism. This means that people add blocks to the blockchain, verify transactions, and earn rewards, by solving increasingly complex mathematical equations.
What makes Litecoin a little different from Bitcoin is that Litecoin uses a mining protocol called Scrypt. This means that transactions are split into two parts. This makes them a bit easier – or lighter – and quicker.
As well as rewarding miners, holders can use their LTC to buy some real-world products. People can buy, sell, and trade it on exchanges.
Litecoin Attention Tracker
Here is a chart for the Litecoin Google search volume for the past 90 days. This represents how many times the term “Litecoin” has been Googled over the previous 90 days.
FAQs
It might do but, if it does, it won’t get there for some time yet. PricePrediction.net says it could reach four figures in 2030, while DigitalCoinPrice says it will get there in 2031. It is worth remembering that Litecoin has never traded at $1,000. Its highest ever price, which it reached in May 2021, is $412.96. LTC is used to reward miners on the Litecoin blockchain. It has a number of real-world uses, and can also be bought, sold, and traded on exchanges. Will Litecoin reach $1,000?
What is Litecoin used for?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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