Litecoin was founded in 2011 by Charlie Lee and it is considered one of the largest cryptocurrencies. Litecoin’s price has fluctuated over the past year, just like other cryptocurrencies.
How much could Litecoin be worth by 2021’s end?
It is extremely difficult to predict the price of Litecoin accurately, since all cryptocurrencies have been known for being highly volatile.
Mathieu Hardy, Chief Product Officer at OSOM Finance, told Express.co.uk: “Our trend forecaster puts it somewhere around 110 in a year, based on the past year of price activity. This seems fair, given recent developments.
LTC, however, has not seen the same overwhelming adoption by institutions as BTC as a’store-of-value’ and it hasn’t been adopted in many cases of payments.
It is easy to see why some original cryptos with volatile prices have struggled in the face of stablecoins.
It is a fierce competition to be a “store of value” for digital commodities with no intrinsic utility.
LTC has a strong community, so we can expect that it will continue growing along with the rest the crypto ecosystem up to 2021.
As I know that I can be wrong 99.9999% of the time, I won’t make predictions about crypto for four years (when LTC will turn 10 and ETH 6).
Finder’s Litecoin Price Predictions report found that Litecoin, (LTC), is expected to reach $266 before the end of this year according to an average forecast.
However, panellists had different price expectations for Litecoin.
John Hawkins (a University of Canberra senior lecturer) had the lowest price prediction of $80.
As an explanation, he stated that “Litecoin” has a low media profile now and appears to have no advantages over Bitcoin.
Joseph Raczynski (Technologist & Futurist, Thomson Reuters) said that “Since this is one of early crypto names, it will likely continue to be around for many years, but its importance will decline with the passage of time.”
“I see LTC rising with the tide even though all these assets are growing, but not as dramatic as before.”
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Litecoin’s peak price in the past year was $382.99 on May 10, 2021.
CoinDesk reports that Litecoin has reached its all-time highest at $413.69.
This article is not intended to be a substitute for financial advice.
Anybody considering cryptocurrency investing should understand the potential risks.
Publited at Wed 25 August 2021, 00:49:30 +0000