If you’re wondering whether or not Litecoin is a good investment, let’s take a look at what the experts have to say. Well, it could simply come down to being the first mover advantage. As the first crypto, BTC has long been synonymous with the word “cryptocurrency” itself. But a bounce is due, according to one crypto analyst‘s interpretation of the LTCBTC price chart. Litecoin was an incredible performer at the height of the last bull market, rising to beyond $360 per LTC in a flash.
Any data, text or BTC other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Forget Lightning, Litecoin Is About To Strike Twice Against Bitcoin
Litecoin was among the few bright spots for the crypto market which had to endure the negative effects of the collapse of the FTX exchange platform. Litecoin price started a strong increase above the $70 resistance against the US Dollar. LTC is currently consolidating and might aim more upsides above $85. Break of 8/1 fan will probably lead to a new LTC/BTC ratio all time high, likely along with a new LTC/USD all time high. Last years, have been incredible – tremendous growth, new protocols, defi, metaverse, all of it. But we have come to notice, that – as beautiful these new innovations are – and as promising they happen to be – they are NOT waterproof just yet.
Can I swap LTC to BTC?
Change Tether to Bitcoin easily and securely with Freewallet
Freewallet is not only a wallet but also a cryptocurrency exchange platform. You can exchange one blockchain asset for another in just a few clicks! In order to exchange your Tether to Bitcoin, you need to provide us a recipient BTC address and your email.
You can check the prices for Ethereum, Litecoin, Ripple, Dogecoin across all the top Indian exchanges here. Despite not being among the top 10 cryptocurrencies by market capitalization, Litecoin is still an incredibly popular cryptocurrency. As a result, there are quite a lot of Litecoin price predictions out there made by top industry analysts.
How Long It’s Been Lights Out For This Altcoin’s Bull Market
Beaxy allows you to trade litecoin with convenience and peace of mind. Our user interface is customizable and can be optimized for beginners and experts alike. The price of the asset, amount, and time stamp will be displayed. A red transaction indicates that an ask order was completed, while a green https://www.beaxy.com/ transaction indicates that a bid order was completed. The Barchart Technical Opinion rating is a 100% Buy with a Strengthening short term outlook on maintaining the current direction. LTC’s price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $60.
Combining all the market indicators, a continued price surge was likely, which should elate investors. LTC’s daily chart suggested that the pump was not just a mere consequence of the bullish market as several market indicators were sporting a further northbound movement. Not only this, but Litecoin’s reserve risk spiked lately, indicating investors’ low confidence. Nonetheless, Glassnode’s data revealed a different story for Litecoin.
If you don’t know how Litecoin and Bitcoin are different from each other, don’t worry – we’ll help you out in this Litecoin vs Bitcoin article. However, the network is not under a lot of pressure, so it should not take more than 1-2 blocks for any transaction to go through. Generally, Proof of Work is considered to be a secure protocol, as it requires an enormous amount of work to trick the system.
- However the drive to save and preserve wealth in China already has had a huge impact on Litecoin and this trend will continue.
- The classical methodology based on MST algorithms is applied by Song et al. , to filter out the influence of Bitcoins and Ethereum; it detects six homogeneous clusters.
- Their price prediction sees the coin’s price doubling in value over the next five years.
Litecoin has the support and the technical foundation to survive in the long term, but it does not really offer anything other cryptocurrencies don’t have. Its survival will depend on how many businesses will adopt it, government regulation, and the competition within the crypto market. Every year, cryptocurrency experts prepare forecasts for the price of Litecoin.
Why Litecoin Is Massively Undervalued vs. Bitcoin
Yet, many altcoins would need to double or triple to return to previous highs. And if the Bitcoin price crashes following the fork NEAR as expected, investors that dont sell out immediately are going to take a loss during the correction. If the Bitcoin price falls towards $5,400, this would essentially wipe out any gains from getting free B2X tokens. In 2016, Litecoin became the second-biggest cryptocurrency, overtaking all existing altcoins at that time.
- What was established is that a power-law, with a correlation factor in excess of 95%, exists with a reasonable agreement to the precious metal’s markets.
- The loan then gets disbursed into your U.S. bank account within a reasonable number of days (some lenders will be as quick as 2-3 business days).
- Remember, humanity has valued, and thus has had a market for, gold and silver for millenia, so the concepts and values of these precious metals are ingrained into the human economy.
And the concentration of top holders of LTC has actually declined over the last two years while notable payment peers have seen increases in concentration. Litecoin has become a valuable peer-to-peer payment network with good decentralization. We can see that disrespect through the lack of coverage of the coin and through the egregious discount to NAV in Grayscale’s fund. Jason Hamlin is the founder of goldstockbull.com and publishes a highly rated investment newsletter focused on precious metals and cryptocurrencies. Hamlin is a cycles investor, student of Austrian economics and speaks regularly at investment conferences.
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In 2017, Litecoin creator Charles Lee divested himself of most of his Litecoin holdings, citing a “conflict of interest,” and Lee’s action caused some loss of faith in the crypto. To help control Litecoin’s supply, Litecoin halves just like Bitcoin. Although Litecoin is technically decentralized by design, it has a single, well-known creator — Charlie Lee. This means that there is a person out there who has at least some additional influence over the project. However, it is still considered fully decentralized by the community.
Analysts say that, in the long term, LTC may see its price increase and reassume its previous rank. If you’re looking for a good return in 5 or more years, pay attention to this cryptocurrency. Keep in mind that, unlike if you were to buy and sell litecoin, you won’t need an account with an exchange. This is because you trade on the prices offered, which we derive from multiple exchanges on your behalf. Launched in the year 2011, Litecoin is an alternative cryptocurrency based on the model of Bitcoin.