Litecoin is among the top cryptocurrencies today. It was founded in 2011 and is still thriving in the industry. Can it retain its sustainability? Find out the answer in this Litecoin (LTC) analysis.
Short market analysis of Litecoin
Based on experts, the price of Litecoin will increase and soon recover from the bull market. Currently, the asset is traded at around $60.27, a 0.72% increase as of September 6, 2022.
On September 21, 2022, the price of Litecoin was around $52.42, which is a 0.68% increase in the last 24 hours. There is high volatility in the Litecoin market, meaning the price can increase or decrease anytime. You only need to be patient to trade if the situation favors you.
Last September 15, the worth of Litecoin is $59.91 each coin. Like other assets, Litecoin is affected by an overall crypto market downturn. On September 17, the price of LTC fell to $58.95. In a one-month price analysis, on September 12, 2022, Litecoin will fall around $51.73 in mid-October. By the end of the year, the asset’s value can fall to the average worth of $98.52.
Will Litecoin improve after a privacy upgrade?
As the price movement of Litecoin mirrored the cryptocurrency market’s weakness this 2022, the asset comes with more developer activity. Its highly anticipated, privacy-focused Mimblewimble Extension Blocks (MWEB) upgrade went live last May 2022. It provides the users with the option of sending and receiving confidential transactions on the platform.
The upgrade enhanced the prospects of Litecoin when the go-to payments prioritize the confidentiality of transactions. The biggest upgrade of Litecoin is on the token-creation platform and the non-fungible token marketplace on its platform.
The MWEB upgrade is considered the extension of the main chain of Litecoin. You can use it to send coins to its extension block and back to its main chain. Based on the website of Litecoin, the users can send confidential transactions in Litecoin, wherein the amount sent will be known only by the receiver and sender. In addition, the upgrade can increase the throughput transaction and make MWEB addresses for hiding account balances.
Litecoin price analysis for 2022 and beyond
The short-term price analysis for Litecoin fell to $58.95 on September 17, 2022. The asset’s price for 2022 is $98.52 at the end of the year. The estimated cost of Litecoin in 2025 is around $143.99.
Moreover, the prediction of the crypto price in 2030 comes in a bullish view at the average value of $1,485.50. It is estimated that you can trade the token at an average value of $82 this 2022, increasing to more than $309 in 5 years.
As you look at the price of Litecoin, keep in mind that there is high volatility in the market. So, such predictions may tend to be wrong. It also serves as a substitute for your research.
When it comes to Litecoin, you should apply diligence and know that your decision of trading or investment should depend on your risk tolerance, portfolio size, expertise in the market, portfolio expertise in market, and goals.
More importantly, you should remember not to trade based on your emotions. Don’t trade money if you can’t lose it.
Is Litecoin a valuable investment?
If you want to know whether Litecoin is worth your investment, keep reading.
Currently, Litecoin is the 22nd-biggest crypto network, on September 12, with around $4.4 bn market capitalization. You’re the only one who can decide if the crypto asset is a good investment for you or not.
It can be helpful if you research the potential of Litecoin and make a decision according to your investment goals, portfolio composition, and risk profile. Don’t invest in an amount you can’t afford to lose to avoid disappointment in the end.
Will LTC go up?
The all-time low of Litecoin is around $1.11 hit more than 7 years ago in 2015. There is a bearish trend in the market of Litecoin. The trend made the coin more than 85% below the record high on September 12, 2022.
If you look at the price and market analysis of Litecoin, you should always consider its high volatility. Then, choose the best time to trade.
ChesWorkShop commits to presenting fair and reliable information on subjects including cryptocurrency, finance, trading, and stocks. However, we do not have the capacity to offer financial guidance, advocating instead for users to conduct their own diligent research.