LTC Price Prediction: Can Litecoin Price Reach $100?

Recently, the price of cryptocurrencies has declined tremendously. Bitcoin recently declined to $20,000. Ethereum’s price slammed below $1490. Almost all the altcoins exhibited unsatisfactory performance. What could the future of cryptos look like? In this article, we discuss the future of one altcoin named Litecoin. This post is all about LTC price prediction can Litecoin reach the 100$ mark? Let’s take a look.

What is Litecoin (LTC)?

Litecoin is one of the most aged altcoins embarked on in the year 2011 by Charlie Lee. It has subtle differences from Bitcoin but has established itself with time as one of the top 20 cryptocurrencies by market capitalization. The current price of 1 Litecoin is $52.18 but was as high as $350 back in 2017.

Litecoin is a cryptocurrency created by an ex-Google engineer- Charlie Lee in 2011. It is regarded as one of the chief inheritors of Bitcoin and the first altcoin to be molded. It is a peer-to-peer (P2P) virtual currency whose network provides fast, near-zero price returns that can be utilized globally.

The cryptocurrency is also founded on an open-source global payment network that is decentralized. According to researchers, Litecoin was created from Bitcoin’s initial open-source code. When Lee created it, he claimed it as Bitcoin Lite and remained viewed by many as a response to Bitcoin. Due to the cryptocurrency imitating the prototype of Bitcoin, it still holds tremendous qualities as the leading digital asset.

LTC Price Prediction: Is Litecoin Still Worth In 2022?

LTC Price Prediction

LTC/USD Weekly chart – GoCharting

In the last few months, the Litecoin price, like the Bitcoin price, has seen a more intense drop. Of course, this was largely due to the bear market that formed, which pushed the prices of almost all cryptocurrencies to drop nattily. In November 2021, the Litecoin price touched a definitive temporary high of 278 USD. The price touched an all-time high of 377 dollars in the spring. Unlike other coins, Litecoin did not grow above it in the fall. 

Since November 2021 we then noticed a huge decline in the Litecoin price due to the beginning of the bear market. At the turn of the year, the price was only $150. In 2022, the Litecoin price continued to fall sharply and fell to a low of 43 USD in June 2022. The price was then able to stabilize again and at the time of writing this, it is sitting at $52.18.

What are the main features of Litecoin?