Litecoin Price Prediction 2024 Will LTC Price Hit New ATH This Year?
Litecoin (LTC), one of the oldest and most primitive cryptocurrencies after Bitcoin price has maintained a notable bearish trend for a long time. Despite being a ‘Lite version of Bitcoin’ LTC price failed to grab the attention of the market participants and hence continues to trade within narrow ranges. Is Litecoin a good investment?
Meanwhile, a couple of surges recorded by the crypto in recent times have intensified its presence in the market. Moreover, the popular asset is expected to kick-start a bull run very soon.
Will Litecoin price ever reach $1,000 in the coming years? Let’s check it out with the latest Litecoin (LTC) price predictions 2023 – 2025 and the years to come!
The year 2023 had started with a positive note, but Litecoin price has lost over 7% within the last 7 days. Will Litecoin go up in the coming days? Litecoin (LTC) price prediction for 2023 could range from $82.571 to $122.874 for the year.
What Is Litecoin?
Sharing similarities with Bitcoin, it works on a Proof-of-Work (PoW) consensus mechanism. But the platform involves complex computational algorithms to mine blocks. That is then fastened to the blockchain of the network, which is a public ledger. For mining, the platform uses the Scrypt protocol which helps in maintaining extra decentralization.
Also, powering confidential transactions, Litecoin turned out to be the network that proved every participant can exchange currencies with zero cost. Every transaction made on the blockchain remains irreversible and gets stored there forever. Like conventional blockchain technology, literally, nobody has edit access to the data/transaction on the Litecoin blockchain.
Also, in rare conditions where currencies may be looted, the network has a trace print which makes identifying the hacked currencies easy. LTC is the network’s native currency and is in use within the network for providing rewards or incentives to the miners. Outside the frame, Litecoin acts as a medium of exchange and is proving to be a stable and inexpensive asset.
Litecoin Price Prediction 2024
f the team behind Litecoin rolls out major developmental upgrades such as that of MWEB. The protocol would find more buyers and adopters. In such a case, the price of LTC might hit its potential high of $157.541.
On the flip side, ebbing stance and stiffer competition might leave the price at $127.879. Successively, the regular price might find its base at $141.959.
