In a bid to boost the adoption of Litecoin as a payment method around the world, the fifth-largest cryptocurrency has partnered with two influential organizations. The partnerships were announced on February 27 within 24 hours leading to excitement within the LTC community. The first partnership was with Glory, an international kickboxing promotion company which was founded in 2012. While this may not affect our litecoin price prediction too much, it is nice to see that LTC is gaining more and more visibility. On the upside, if buyers clear the resistance levels, the coin will rally above $51.
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For example, Litecoin developers are experimenting with implementing the MimbleWimble privacy technology into Litecoin to enable private https://www.beaxy.com/exchange/ltc-btc/ LTC transactions. These features allows the Litecoin blockchain to process transactions faster than the Bitcoin blockchain.
The main difference is a decreased block generation time of just 2.5 minutes, compared to Bitcoin’s ten minutes. This speeds up transaction times and its lightweight https://www.beaxy.com/ design is where the name “Lite Coin” came from. In 2022 and 2023, the positive movement will continue and Litecoin will grow from $53 to $80 by the end of 2023.
- It was developed in 2011 through a bitcoin fork by former Google employee Charlie Lee, making it older than bitcoin’s primary competitor Ethereum.
- For the longest time, Litecoin held the position of fifth-largest cryptocurrency by market cap, though it has since been knocked aside by EOS.
- Its subsequent adoption by the Silk Road black market and meteoric rise in price, which turned pizza change into millions of dollars, forever cemented it as the coin to watch.
- Bitcoin has been the public face of all cryptocurrencies since it first appeared on the scene in the shadowy Satoshi Nakamoto‘s white paper in 2008.
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Litecoin is also popular in China, and many market observers believe that China and Asian markets in general will lead the next big wave of cryptocurrency adoption. The Chinese and Korean governments have both loosened their stance toward cryptocurrencies in general, opening the door to potentially billions of new investors. Litecoin boasts a more accessible price point – for the time being, anyway – than Bitcoin, making it more attractive to new investors who want to own an entire coin. The Litecoin network is scheduled to produce 84 million currency units with a halving in reward every four years just like bitcoin. Litecoin is in second spot to Bitcoin and has spawned numerous clones – however it has a solid base of support and dedicated development team. The Litecoin project is currently maintained by a core group of 6 software developers, led by Charles Lee, with a large community that is growing in support. In May 2017, Litecoin became the first of the Top 5 cryptocurrencies to implement the SegWit scaling solution.
Litecoin is looking to adopt privacy protocol called Mimblewimble, attracting more crypto investors. ltc coin price This decision is an after effect of privacy coins becoming the hottest buys this year.
In the December–January time frame, Bitcoin crested $20,000 per coin, while Litecoin reached a high-water mark of $366. Chances are that when you think of cryptocurrency, you think of Bitcoin.
Privacy coins have been a cherished choice of traders as it sheilds user identification on the network with embedded technology. The adoption is already being and tested and if everything seems to looks good then we can expect to exprience this advancement on the main network by next year. The enhancement also has the potential to boost the momentum of litecoin in the market. At Walletinvestor.com we predict future values with technical analysis for wide selection of digital coins like Litecoin. If you are looking for virtual currencies with good return, LTC can be a bad, high-risk 1-year investment option. Litecoin price equal to 52.647 USD at , but your current investment may be devalued in the future. Litecoin’s relative lightweight status in terms of sheer market size belies its importance to the market as a whole.
Last week saw a major increase in tokenized Bitcoin on Ethereum and bullish indicators for ETH price, even as ETH 2 progress seemed to slow. Enter your email address below to receive a concise daily summary of analysts’ upgrades, downgrades and new coverage with MarketBeat.com’s FREE daily email newsletter. © 2020 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research.
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— Marko Omcryptokus (@omcikusmarko) October 31, 2020
This article will explain the fundamentals of Litecoin cryptocurrency to grow or fall. Read our Litecoin price prediction for 2020 to 2025 and make a decision about whether LTC is worth investing in or not. Although this is not a bullish time for the crypto space, Litecoin is performing fairly good as compared to its peers. Obviously, most of the credit goes to Charlie Lee, as he finally introduced Confidential transactions like privacy coins like ZCash and Monero, which will ward off fungibility, scalability and privacy problems. Even the adoption rate is fairly high as very recently, Litecoin logo was advertised on the mat of UFC, a famous fight and that helped in grabbing eyeballs. Even a new shopping center in Singapore has installed an ATM that accepts Bitcoin and Litecoin. The Litecoin price prediction after halving is very optimistic as per the experts’ opinions.
Bitcoin’s price fell on U.S. regulatory pressures while Ethereum miners reaped record fee revenue the past month. Trump rejected the latest stimulus proposal, while a popular Ethereum wallet continues to grow. After lagging behind bitcoin for the past couple years, Litecoin founder Charlie Lee is looking to privacy features as his ace in the hole. Bitcoin’s price is closing in on record 2020 highs as ether’s volatility picks up. These assets constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges. Litecoin uses the Scrypt algorithm, a memory-hard algorithm that was initially designed to be resistant to Application Specific Integrated Circuit miners .
Traders can take advantage of similar tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on either the LTC/USD pair, or the LTC/BTC pair. The long-term bullish pitchfork channel in LTCUSD continuing could result in an eventual peak price of over $10,000 per LTC token. This would put the asset’s cap closer to silver and make it a more likely digital counterpart. If Litecoin can break above and hold over its long-term downtrend line, it could finally retest its previous all-time high. More sideways consolidation is likely after such damage has been done to sentiment. The max high is likely to remain below $300 for much of this time. Despite the fall, Litecoin price has come a long way since it first launched many years ago.
— CryptoCoinScanner (@coin_scanner) October 25, 2020
Litecoin miners are currently awarded with 25 litecoins per block. The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities and similar products.
Litecoin (ltc) Falls To $40 Mark After A Sudden Bearish Strike
Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0. Crypto prediction website Coin Price believes 2020 will be a bull market for all cryptocurrencies, and based on this, they see the price of LTC going to the $124 level. The $36 and $34 marks are two crucial supports for Litecoin LTC price at this time. The probability of its price falling in the coming days seems very low. Having said that, if the bullish pattern remains, then the coin could face a resistance level at $51.
In the next 4 years, Litecoin will repeat the previous price movements but the trend will be negative. As a result at the end of 2022, LTC will cost $10, in 2023 – $3, in 2024 – $2 and in 2025 – $2. You have probably already noticed that Litecoin price follows the Bitcoin price. If we take a look at the price charts of both digital currencies https://tokenexus.com/ we will find out that they are almost identical. The speed of transaction confirmation has also increased markedly. There are cases when users of the Bitcoin network had to wait for confirmation of the operation for several hours or even days. If in Bitcoin 1 block is generated in 10 minutes, then in Litecoin – in just 2.5 minutes.