Litecoin was created shortly after Bitcoin and has been one of the best-known and most popular coins on the market for years. In recent years, Litecoin has fallen somewhat in the market capitalization ranking. Nevertheless, an investment in Litecoin still gives you the chance to achieve high returns in the long run. How high can Litecoin reach by 2030?
In this article, we take a look at how the Litecoin price could move in the coming months and years and what the long-term Litecoin forecast looks like.
What is Litecoin?
Litecoin is one of the oldest and most established cryptocurrencies on the market. It is often referred to as bitcoin’s “little brother” and was created in 2011, just two years after bitcoin. Litecoin is based on an open source protocol and is technically implemented almost identically to Bitcoin.
The aim of Litecoin was to implement the Bitcoin system faster, more efficiently, and more reliably. Bitcoin’s scaling problems should be increased by increasing the processing time of the blocks. A new block is created on the Litecoin blockchain four times faster than on the Bitcoin blockchain.
Due to its structure, Litecoin can also create 4 times as many blocks (84 million to 21 million). Furthermore, the hash algorithm for the Proof-of-Work consensus mechanism is less computationally intensive than with Bitcoin. Bitcoin and Litecoin prices have mostly moved in the same direction over the past few years.
How did Litecoin Perform Recently?
The price of Litecoin usually moves very similarly to Bitcoin’s price in terms of its direction. The Litecoin forecast is usually very dependent on the Bitcoin forecast. The bear market has caused cryptocurrencies to fall more sharply in recent months after hitting an all-time high in Q4 2021.
However, Litecoin reached its all-time high in May 2021 at USD 413. In the fall of 2021, the price then reached a value of 278 dollars again before the price drop began at the end of the year. This caused the LTC price to fall as low as $43 in June. The price was then able to recover and stabilize somewhat.
Why is Litecoin GOOD?
Litecoin is only the second cryptocurrency and was the first attempt to improve the Bitcoin blockchain in 2011. However, Litecoin used the same technical principles and adjusted the parameters somewhat. This is how a blockchain was created that can perform almost the same functions as Bitcoin.
In the years to come, Litecoin remained in the shadow of Bitcoin and never managed to match its popularity. Nevertheless, Litecoin saw a similarly strong price development as Bitcoin. In principle, the prices of both cryptocurrencies are very similar. When the Bitcoin price increases, the Litecoin price also increases, which ties the Litecoin forecast very closely to the Bitcoin forecast.
In general, Litecoin can see higher percentage gains than Bitcoin at certain times, making Litecoin even better for speculation. Litecoin has been used very frequently as a means of payment in recent years, but has not been able to assert itself against Bitcoin. Nevertheless, we continue to see strong price increases when Bitcoin also rises.
How High can Litecoin reach by 2030?
In the next few years, Litecoin should move in a very similar direction to Bitcoin. This makes the Litecoin forecast even easier than forecasting other coins. In general, Litecoin depends a lot on the direction of the overall market.
Let’s look at possible prices for the end of 2022 and the years 2025 and 2030 for Litecoin.
Litecoin Price Prediction 2022
There are now almost only 3 months until the end of 2022 and the prices of the cryptocurrencies are not showing a clear trend at the moment. The Litecoin price should continue to follow the overall market here as well. In the bear market, only a few increases are to be expected at the moment, which can also bring prices up in the long term.
Furthermore, only a few massive price crashes are to be expected. Bitcoin is arguably already at the bottom of bear market prices and has strong support at $19,000. Litecoin should not move much until the end of the year. Slight price increases are possible with slight inclines from the overall market.
2022 Litecoin price range: $40 – $70
Litecoin Price Prediction 2025
If we look 3 years into the future, things get a little more interesting. The Litecoin price depends heavily on the development of the Bitcoin price. We very likely see the next Bitcoin Halving in 2024. As a result, the Bitcoin price should rise massively in 2024 and especially in 2025.
Bitcoin price saw a 20x surge from bear market lows to all-time highs in the last bull market. In the case of Litecoin, this increase was smaller. Nevertheless, we can assume that the Litecoin price can probably increase by a factor of 10 to 15 from the bear market to the bull market.
2025 Litecoin price range: $120 – $600
Litecoin Price Prediction 2030
If we want to look at the year 2030, the forecast is a bit more difficult. Another halving should occur in 2028. After that, we could see strong price increases in cryptocurrencies, especially in 2029 and early 2030. Before that, however, prices would fall in the bear market.
It is difficult to estimate how big the Litecoin drop could be in the bear market and how much the price should rise in the next bull market. Based on past experience, we can expect an 80-90% drop in bear markets and a 10-fold increase in bull markets.
2025 Litecoin price range: $180 – $1200
Is Litecoin Worth Buying?
Litecoin price is on the low side right now assuming the bear market has brought the price close to its lows this cycle. With the increase in the Bitcoin price in the coming months and years, Litecoin should also increase again in the coming years.
Therefore, Litecoin can be a useful investment and a good addition to investing in Bitcoin. It can bring you profits in the short term and also bring returns in bull markets in the long term.