LiteCoin is one of the most popular cryptocurrencies, with its low transaction fees and fast confirmations. The low fees of this cryptocurrency have made it the preferred choice for traders across the world. The Litecoin price is predicted to fluctuate between $500 and $600 by the year 2025. However, it is important to remember that Litecoin’s price can fall drastically if major changes occur in the industry, market positions, or any other political reason. Despite its resilient nature, it is important to watch out for the upcoming events and fluctuations in the global economy.
LiteCoin Price is Coinbase’s Listing
Another major factor that influences the LiteCoin price is Coinbase’s listing. Although this is an underestimated factor, the Coinbase listing has been an extremely beneficial for the cryptocurrency. This is one of the reasons why Litecoin has gained a lot of attention in the last few months. This is one of the best known and most popular apps in the Finance category. The Coinbase website receives more than 30 million visits a month, and is the most popular finance website in the world. Among the top five cryptocurrencies listed on Coinbase, a high number of users can use its services.
High Volatility Experienced Litecoin Market
In addition to the high volatility experienced by the Litecoin market, the stability of the crypto industry is also critical. In the past year, Litecoin has been able to increase in value significantly. During the same period, the price of bitcoins surged by almost five times, and this is a significant increase. However, it is important to understand the fundamentals of a cryptocurrency and its history before investing in it.
Litecoin Improving Its Security
Despite the fluctuations, Litecoin has managed to keep improving its security and transaction speed. The Bitcoin community initially questioned the need for such improvements. The Bitcoin community responded positively to the changes, and Litecoin has quickly gained more popularity. The underlying technology has been developed by Charlie Lee, a prominent figure in the crypto industry. The project was launched two years after Bitcoin and is overseen by the prestigious ‘Litecoin Foundation’.
Strong Correlation With Bitcoin
There are a few things that you should know about Litecoin’s price. The cryptocurrency has a strong correlation with Bitcoin, and therefore is often referred to as “silver” when compared to the latter. New taxes and regulations in China and the United States have also impacted the prices of the latter, but there is no reason to panic yet. Ultimately, Litecoin is still worth it.
Conclusion
There are two major forecasts for Litecoin’s future. The Long Forecast says that the cryptocurrency will drop in the next 10 years. According to this forecast, the Litecoin price is expected to hit $277 in January 2021, and then fall to $130 by June 2023. While the Long Forecast does not have a crystal ball, the experts expect that the price will recover by December 2023. While the market will remain volatile and a new market can pop up, Litecoin is not dead yet.
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