Here’s How Investors Can Take Advantage Of Litecoin’s Price

Here’s How Investors Can Take Advantage Of Litecoin’s Price

This development, by and large, might give Litecoin’s price a helping hand. They think that Litecoin’s price and market cap are going to decline in both the short- and the long run. Litecoin used to be one of the first cryptocurrencies people learned of when they entered the market. Some of the things they have in common are anonymity, decentralization, the ability to be mined, and the consensus mechanism (Proof-of-Work).

She has a strong background in journalism and a personal inclination towards business and financial reporting. Litecoin and Bitcoin have many similarities — after all, LTC is a fork of BTC. Nonetheless, they have different hash functions, and Litecoin was specifically designed to process transactions four times faster than Bitcoin. Now, let’s take a look at the result of the LTC technical analysis performed by Trading View. Lately, there has been a lot of talk happening about how Litecoin has “fallen off.” Nowadays, all trending tokens are either attached to a strong brand, have a lot to offer besides being a store of value, or are simply quirky enough to be noticed by millionaires.

  • Litecoin has the support and the technical foundation to survive in the long term, but it does not really offer anything other cryptocurrencies don’t have.
  • As an advisor in a Family Office he maintains a conservative approach for wealth management and investments.
  • Finding a bottom is often arduous, so you will need to be cautious about “jumping all in” into the Litecoin market.
  • Litecoin entered the world of cryptocurrency with a rather impressive start when digital assets began to find favor with speculators and investors throughout the globe.
  • Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT.
  • They think that Litecoin’s price and market cap are going to decline in both the short- and the long run.

At this stage, most people would realize losses if they sell their HODLings. Nonetheless, this “cheap” state of LTC is a suitable entry point for long-term investors. Both the SOPR (spent-output-profit-ratio) and MVRV (market-value-to-realized-value) are key indicators that help in identifying the accumulation range for any asset. The MVRV is calculated by dividing LTC’s market capitalization by the realized capitalization. Litecoin has the support and the technical foundation to survive in the long term, but it does not really offer anything other cryptocurrencies don’t have. Its survival will depend on how many businesses will adopt it, government regulation, and the competition within the crypto market.

This does not mean that you should jump in right away, but this also does not mean that Litecoin investing is bad. Litecoin may have a substantial risk-to-reward ratio compared to other financial assets. Most Litecoin forecasts are bullish on this coin, and those that are not still don’t see it crashing. As long as the crypto market continues to exist, so does Litecoin — at least in the next decade. However, it remains to be seen whether LTC will be a profitable long-term investment. PrimeXBT is a Bitcoin-based margin trading platform that allows traders to take advantage of both long and short opportunities with leverage.

Again, the aforementioned SOPR level implied that LTC’s price range was apt for new players to enter the market. Whenever this ratio dips below 1, a crucial reversal zone comes into the picture. At press time, the same for Litecoin was hovering around the 0.86 range. This, to a fair extent, was a sign that Litecoin might end up seeing a price rally in the next few weeks.

Despite having a solid technical foundation, Litecoin doesn’t really have any of those things. PrimeXBT products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. Investing in Litecoin can be done quickly, with just a few clicks on a computer. There are multiple exchanges and trading platforms to choose from, but not all will allow anything beyond spot trading. Day traders who have traded Litecoin from the 2018 bottom to the 2019 top, then back to the 2020 bottom before reaching the 2021 top, have made a small fortune.

Litecoin Price Prediction

While there are certainly signs that Litecoin doesn’t carry the ‘favored’ status that is once did among speculators, perhaps this is a positive thing for investors. If LTC/USD can remain within the top twenty regarding market capitalization and stay out of the ‘limelight’ perhaps this will be a calming ingredient for the cryptocurrency and carry the advantage of not overextending speculative initiatives by unwelcome forces. Litecoin continues to be a major cryptocurrency and the fact that it now has a long shelf life should be looked at as a positive. While some of the newcomers within cryptocurrencies may be riding atop their momentum waves of fortune momentarily, some of them are bound to tumble, submerge and be cast aside. After the account is funded, traders can take positions in Litecoin and prepare for the next move.

Litecoin Price Prediction Is Litecoin a Good Investment? – Capital.com

Litecoin Price Prediction Is Litecoin a Good Investment?.

Posted: Mon, 12 Sep 2022 07:00:00 GMT [source]

What is the potential result of a jurisdictional and regulatory assault from within the U.S and other national governments regarding transparency measures? There are many cryptocurrencies that can be considered “better” than Litecoin on a technical level — for example, Ethereum. However, that does not mean LTC is bad or useless — it simply offers something different.

Is Litecoin A Good Investment?

Profits are also just as shocking, so it does end up being worth the risk in the long term for those who apply sound money management. Litecoin is an extraordinarily volatile asset, just like every other cryptocurrency. Litecoin is divisible by up to eight decimal places, so smaller portions of Litecoin are possible to invest in and can be purchased in any increment. However, it’s important to remember that you should never invest more than you can comfortably lose. Investing and trading in Litecoin has been highly profitable for those who were early in the market.

is litecoin a good investment 2021

Wallet Investor’s LTC price prediction is moderately bullish in the short run but expects this coin to go through a period of explosive growth in five years. Although they are bearish on it in the short term, they expect LTC to start rising again sometime next year. Considering the substantial Return on Investment that Litecoin and other cryptocurrencies are capable of, it is wise to have some exposure to these assets. Crypto is a way to get away from some of the traditional correlations of financial markets and, therefore, should be thought of as another venue to make returns. Crypto is much more volatile than other assets, making them a highly profitable venture if you can navigate the markets correctly. Furthermore, crypto is still a new technology, so the future is unknown but seemingly somewhat unlimited.

Heres How Investors Can Take Advantage Of Litecoins Price

Litecoin is a decentralized peer-to-peer cryptocurrency created by Charlie Lee, a former Google employee, in 2011. The LTC network was designed to solve its elder brother’s network problems, such as transaction speed, scalability, and high commission fees for each financial transaction made on the blockchain. You are solely responsible for withholding, collecting, reporting, paying, settling and/or remitting any and all taxes to the appropriate tax authorities in such jurisdiction in which You may be liable to pay tax. PrimeXBT shall not be responsible for withholding, collecting, reporting, paying, settling and/or remitting any taxes which may arise from Your participation in the trading with margin.

If Litecoin were to correlate with the broad cryptocurrency market and achieve results it has seen in 2017 and in the spring of 2021, it isn’t farfetched to suggest the Litecoin price prediction for 2025 ratios could see highs between $400 and $700 per coin. At the time of writing in August 2021, LTC/USD has gone through the whirlwind of its spring 2021 surge and slump like most how to accept litecoin payments of the major cryptocurrencies. The month of August certainly produced a rather nice climb for Litecoin, but prior to this bullish trend, LTC/USD suffered steep losses and saw lows just above $100 in late June and late July. The Price Prediction platform’s Litecoin forecast is unbelievably bullish. It is probably one of the most optimistic LTC price predictions you will find.

Litecoin has four times the supply of Bitcoin, with a cap of 84 million LTC. Litecoin also lowered the block generation time to just 2 ½ minutes versus 10 minutes on the Bitcoin network, making it a faster solution for sending and receiving. While crypto has struggled in 2022, the Litecoin market has shown that it can weather the storm multiple times, as crypto has seen a lot of volatility since its inception. Because of this, as soon as this low is put in, Litecoin is once again a good investment for those willing to take the plunge.

Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely https://xcritical.com/ responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs , Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk.

LTC/USD has certainly risen within the ‘safe confines’ of broad cryptocurrency market correlations, but there is no mistaking Litecoin has also fallen slightly out of favor as a leading speculative endeavor. In July 2021 during the height of a cryptocurrency downturn, it became known that a large unidentified seller had entered the market as LTC/USD suffered a dramatic downturn and traversed slightly above $100. Despite trading above $400 on the 9th of May 2021, the large selling positions hurt the value of Litecoin swiftly.

The current price of $188 may look like it has gained quite a bit since lows of late July. However, the perspective from a long term risk reward scenario that Litecoin may in fact be underpriced for speculative investment is perhaps an opportunity. It is important to remember that Litecoin is a real competitor within the world of digital assets. While cryptocurrencies like Bitcoin, Ethereum, Dogecoin, Ripple, Polkadot, etc. may all serve different utilitarian aspects, Litecoin like its major counterparts also enjoys much of its success due to the world of speculative assets. In other words, its value represents wagering by speculators and investors who likely have little use for them within the real world of business, except to engage in the potential rise and fall of values Litecoin represents and the profits which it can produce. Litecoin price prediction 2021 timetables will likely move in conjunction with the broader market, but because of the questions regarding ‘the romance’ of Litecoin within the cryptocurrency world it does open questions as to what may develop in the future.

Expert Expectations And Litecoin Price Predictions

Those utilizing the CFD cryptocurrency platforms like the one at PrimeXBT could have amplified profits even further. Litecoin, the silver to Bitcoin’s gold, has seen its own share of ups and downs this year. Not long ago, Litecoin had cemented a position for itself in the market’s top-10.

is litecoin a good investment 2021

GalaxyTrading, a well-known trading desk and technical analysis team, believes Litecoin could hit $1000 by the end of 2023, making it one of the most bullish firms. Litecoin has several experts jumping in to make predictions about its price, as the volatility in the coin’s utility makes it an attractive investment. Keep in mind that Litecoin follows Bitcoin, so you should pay close attention to what Bitcoin is doing. If it starts to rally again, it will drag the rest of crypto up with it, with Litecoin being relatively quick to react.

Litecoin Durability, Timeframes, And Ability To Trend Higher

A Litecoin price prediction for 2025 will certainly believe that LTC/USD will continue to exist and remain a speculative factor; the likelihood of Litecoin simply collapsing is very low. Traders who are willing to speculate in LTC/USD are not the same as traders who simply want to engage with conservative non risky assets. The cryptocurrency market remains a mainstay for speculators who understand the notion that there are inherent dangers when trading, and that risk management is always needed. Traders of LTC/USD who intend on making long term trades must make sure their transaction costs are not painful and that they are able to maintain positions. Also they still need to make sure they are wagering an amount of money they are willing to lose.

is litecoin a good investment 2021

One example is in agreement with the Ultimate Fighting Championship to become the official cryptocurrency of the UFC. In order to get any cryptocurrency, you will need a crypto wallet that supports it. Then, TradingBeasts predicts that Litecoin’s price will start rising again. If a trader were to buy Litecoin at $20 and sell it at $140, it would have $120 in profit. However, when Litecoin fell back to the $20 range, they could have bought it back and still had $100 to spare.

November 2022: Litecoin Price Forecast

I expect that Litecoin will be worth between $275 and $1,000 per coin in 2025. Looking ahead to 2025 and 2030 for Litecoin remains a dubious endeavor and one bound to make predictions seem futile and perhaps foolish. Nonetheless, LTC’s ecosystem-centric developments have been stalled for quite some time now. Some people have even started associating the phrase “abandoned project” with it, despite MWEB being on the way. Hence, the same needs to be enhanced in the coming weeks to shield the alt’s long-term prospects. In fact, this further enhanced the odds of LTC’s price rallying over the coming weeks.

Several signs point to a repeat in the power of a massive breakout for the entire crypto market, and Litecoin has shown itself to be a survivor. That being said, you should know the pros and cons of Litecoin investing. Buying and holding a cryptocurrency like Litecoin and other altcoins involves purchasing the asset on a spot exchange and moving it to a web wallet or a hardware wallet for safekeeping. Buying and holding a cryptocurrency takes the least effort and expertise and forgoes a lot of significant risks.

Litecoin Technical Analysis

Users of the platform can either deposit a minimum of 0.001 BTC or buy Bitcoin directly from the platform offered by PrimeXBT to fund their trading account. Litecoin is often used as a testbed for Bitcoin development, so this is another reason to believe that people will still flock to the ecosystem. The close relation to Bitcoin and its limited supply makes Litecoin valuable. That being said, Litecoin has had these massive selloffs in the past, as any cryptocurrency has over the last decade or so.

Litecoin, like all cryptocurrencies, has enjoyed days of highs and extreme lows as technical and market behaviors have frequently caused storms. However, Litecoin then suffered a large fall in value over the coming year in line with the broader cryptocurrency market. 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. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time.

Litecoin has been the third cryptocurrency by market capitalization for a very long time. This crypto coin has been active for over nine years now and has managed to be successful for most of this period. At the moment, it is still ranked among the top 30 cryptocurrencies by market cap. However, you should also recognize that crypto markets tend to be extraordinarily volatile, so it’s not to say that the market will go in your direction immediately. Being early for the next bullish run is a great way to make a lot of money, but timing it is a real challenge.

Naveed Mohammed
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