John Kim is a famous Litecoin investor who liquidated his business and gave it all up to become a crypto evangelist. GalaxyTrading, not to be confused with Mike Novogratz Galaxy Digital, expects each Litecoin to reach a high of $1,000 this year. GalaxyTrading, Trading Desk And Techincal Analyst Team The Litecoin forecast is bright, especially considering all of the support the crypto asset has earned from industry experts and big-name investors alike. Litecoin Experts Weigh in On Litecoin Projected Growth Litecoin still remains below its former all-time high and is among If support can hold the cryptocurrency will confirm a new bull market is here and could see a move similar to what Bitcoin has done in recent months. Since the peak was put in during the beginning of 2021, Litecoin began to pullback but appears to be retesting former resistance turned support. A higher-high after a higher low is the definition of an uptrend. The cryptocurrency known as the silver to Bitcoin’s as digital gold rose 600% that year, before crashing back down to retest its bear market bottom.Ģ020 was a brutal year with very little action, causing investors interested in LTC to ask the questions “will Litecoin go up in value,” “how high will Litecoin go,” and “will Litecoin ever reach 1000 dollars per LTC.”Īlready in 2021, Litecoin has set its first higher high since its all-time high price record was set in 2017. Litecoin’s strongest year in recent history, was 2019 during its halving. Both assets have a hard-capped supply that gives the assets a scarcity aspect that is similar to precious metals.Īccording to recent LTC news, Litecoin has been regularly used as a testbed for upcoming second-layer applications that will eventually be applied to Bitcoin, such as Segregated Witness and the Lightning Network. Litecoin gets additional value from being so closely tied to Bitcoin, and is commonly referred to as digital silver to Bitcoin’s digital gold narrative. This speeds up transaction times and its lightweight design is where the name “Lite Coin” came from. The main difference is a decreased block generation time of just 2.5 minutes, compared to Bitcoin’s ten minutes. Litecoin’s code is a work of the Bitcoin Core client, and technically similar to Bitcoin. Lee is still heavily involved in the project and is the Managing Director of the Litecoin Foundation, a team dedicated to pushing Litecoin adoption, increasing its value proposition in the market, and establishing Litecoin growth in the long term. However, Lee cited the move was done to alleviate a potential conflict of interest. Lee is a controversial figure in the cryptocurrency space, known for selling off his Litecoin holdings at the peak of the last crypto bubble. Litecoin is a cryptocurrency designed by former Google and engineer for a crypto exchange, Charlie “Satoshi Lite” Lee. This Litecoin price prediction guide will help investors make an informed decision if Litecoin is right for them, help them understand if Litecoin will rise as Bitcoin has in the long term, and provide an all-around Litecoin forecast that will help to determine what could Litecoin be worth in 10 years. Litecoin is the first crypto asset to do so successfully, and it has cemented Litecoin’s place in the crypto market and as a financial asset with long-term growth potential. Among the most common improvements altcoins attempt to make over Bitcoin, is improved transaction speeds. Bitcoin was the first-ever cryptocurrency, sparking an entire industry of altcoins created in hopes of improving upon what Bitcoin sought out to achieve.
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