Litecoin (LTC) Price Prediction: This Is How Much You Would Have Made If You Had Buyed LTC 10 Years Ago: City Telegraph
Litecoin (CRYPTO: LTC), the cryptocurrency that was developed for fast, secure and inexpensive payments over the blockchain, is 10 years old.
The Coin: LTC was released on October 7, 2011 and the network went live five days later on October 13, 2011. (Also Read: Solana (SOL) Price Prediction: Why 500 dollar by 2022?)
Today it is the 15th largest coin by market capitalization and is getting 0.54% in terms of market dominance according to data from CoinMarketCap.
LTC has a market capitalization of around $ 12.35 billion and an outstanding offering of 68.7 million tokens.
The Early Days: LTC, an early fork of Bitcoin (CRYPTO: BTC), was created by Charlie Lee, a former employee of the Google subsidiary of Alphabet Inc.
Lee discussed the early days of LTC on a Twitter thread Thursday. LTC’s founder said that a number of early altcoins did not survive, such as Namecoin, Ixcoin, Locoin, Solidcoin, etc.
See also: Dogecoin Co-Creators, Others React to Litecoin Walmart Fiasco: Why You Shouldn’t “Take These Things So Seriously”
“I basically took all the best from these altcoins (speed, CPU mining) and got off to a fair start. And that’s why Litecoin succeeds where others have failed, ”wrote Lee.
“The name Litecoin came to my mind very quickly. At first I thought of something like an elite coin. Then Litecoin popped out.
So I had to do some reverse engineering and I managed to create the Genesis block on top
What a lot of people didn’t know was that I put the title of Steve Jobs’ death in the Genesis hash. This proves that the Genesis block was created after 05/10/11. pic.twitter.com/Zn7tnRBgUM
– Charlie Lee (@SatoshiLite) October 7, 2021
Lee couldn’t help but take a look at Ethereum co-founder Vitalik Buterin, who criticized the choice of the Litecoin name.
I forgot to mention that I chose Litecoin because Litecoin is the lite version of Bitcoin. It’s faster, cheaper, and easier to use.
And we saw a young & unknown (back then) @VitalikButerin who hates the name. I prefer Litecoin over Etherium. Wait, is that Ethereum? pic.twitter.com/kCLUUNbiel
– Charlie Lee (@SatoshiLite) October 7, 2021
The Investment: LTC hit a record high of $ 412.96 in May, trading 56.46% below that level. At press time, LTC was trading 2.82% higher at $ 180.18 on a 24-hour basis.
Since early 2021, LTC has gained 43.29%. By comparison, BTC rose 84.58% over the same period.
The first available CoinMarketCap data shows that LTC was trading at $ 4.35 on April 28, 2013. If an investor had stuck to his investment since then, he would have gained 4042.06% so far.
That is, $ 1,000 invested then would have bought LTC 229.88, which is worth $ 41,420.69 today.
Litecoin Prediction and Forecast: LTC Over $ 165 Now !!
Litecoin Prediction and Forecast: For the next 24 hours, the Litecoin price is forecast in the range of $ 151-172.
Litecoin Price Prediction Daily: Current Prices
The current Litecoin price is $ 167.13 that is 0.32% higher than 24 hours ago.
Litecoin Forecast Daily: future forecast
In July 2021, Litecoin price hit an extreme low when it was trading around $ 105. Two months later, Litecoin hit its highest level since May and was recently trading at nearly $ 230. At this point, it is clear that the rise of Bitcoin also supports the rise of Litecoin. Alternatively, the fundamentals of the Litecoin network have also improved over the past few months, meaning that the number of transactions per second, the number of addresses, and the number of active addresses have increased.
It must be noted that Litecoin (LTC) is one of the very first projects to copy and modify the code of Bitcoin, bringing a new cryptocurrency to the market. Now that countries like El Salvador, Cuba have stepped in to accept the cryptocurrency, the crypto market has seen a rapid surge. Additionally, Facebook’s announcement that it is adding crypto to its payments wallet has given the crypto market a huge boost. Litecoin is one of the newest providers to add NFT capabilities to its platform.
However, in the past 24 hours, Litecoin has seen a drop of over 15%, with the price dropping below $ 163. But buyers came in and supported the rise of Litecoin, which again signaled strong support for the coin. Litecoin is currently trading above $ 180. Hence, the chances of Litecoin going up once have increased.
Litecoin Price Prediction and Forecast: What is Litecoin?
Litecoin (LTC) is just another drop in the vast ocean of cryptocurrencies. Why are we talking about LTC? because it is emerging as one of the most important cryptos in the market today. Litecoin is open source software introduced under license from MIT / X11. Litecoin can be called a peer-to-peer cryptocurrency. Litecoin was introduced as Altcoin in October 2011, but technically LTC is almost similar to Bitcoin.
Charlie Lee is the founder of Litecoin. Lee wanted to give investors an updated version of Bitcoin back in 2010. Something that investors can rely on or an affordable version of Bitcoin. The term Litecoin (light + coin) is inspired by the name Bitcoin. Litecoin is said to be an improved version of Bitcoin. The additional features in Litecoin have certainly made it more reliable than Bitcoin.
After 10 years of its inception, Litecoin is now one of the top 10 cryptocurrencies in the world. According to reports, Litecoin has found its place at the center of all crypto transactions. LTC has inspired a better payment method since its inception. Litecoin’s most noticeable features have turned out to be a huge benefit for investors. Features include expertise in speed and the reduction of transaction fees.
Litecoin Price Prediction and Forecast: Price Prediction 2021-2022
The Litecoin price was quoted at $ 124.09 in early 2021. As of now, Litecoin is trading at USD 215.95. LTC has seen a 74% increase from early 2021 to date. According to the forecast, Litecoin will be at USD 252 by the end of 2021, which corresponds to a growth of + 103% in one year. From this point in time until the end of the year, a total increase of 17% is forecast. In 2022, Litecoin is expected to hit $ 267 in the first half. However, it is expected to decline by $ 12 early in the second half and the market is projected to be around $ 255 by the end of 2022.
Litecoin Prediction and Forecast: Will Walmart Accept Litecoin?
Litecoin saw a massive price spike on September 13 after news of the Litecoin and Walmart connection circulated and the price rose 25% in 30 minutes. The coin traded at $ 232 but the surge was short-lived.
The news of the connection between Litecoin and Walmart turned out to be a fake. Walmart said a press release announcing a Litecoin partnership was fake. Charlie Lee, the creator of Litecoin, said an employee mistakenly tweeted about the announcement after seeing the fake publication.
Upon clarification, Litecoin crashed, revealing the vulnerable side of the cryptocurrency. The coin is currently trading at around $ 178.