UPDATED LITECOIN PRICE PREDICTION | NEWS | CHART IN 2024
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All right, welcome back
everybody. Is it the right time or not to buy bitcoin cryptocurrency! Let’s go to know more details HOW LITECOIN(LTC)
is a good investment in 2024.
what do you think, more
importantly, what is litecoin. how does litecoin differentiate itself from
other top cryptocurrencies in the space? how is litecoin different than
bitcoin, for example, and last but not least,
I want to talk about
litecoin from a price perspective because we know, based on history, litecoin usually
performing very well nowadays. If bitcoin is in a bull market and bitcoin is
in a bull market in 2024.
Take four years ago, in
2017, from January until December bitcoin 20x went from around $1,000 to almost
$20,000 in a year at 20x litecoin in that same timeframe started the year
around $4 per coin and finished the year, 12 months later, around $360 per
coin. that was about 90x on your money.
Now I am not a registered
financial adviser, i can't see the future, and I ultimately don't know what the
price of any cryptocurrency will do tomorrow, and neither do you but this trend
of litecoin oscillating around bitcoin, it's not new.
In litecoins lifespan, this pattern has happened over and over and over again. so the point is that because on
altcoin daily, we drop a news every single day demystifying the cryptocurrency
market.
Today, I want you to check the timestamps down below, and let's go over is litecoin a good investment in what's my personal price prediction for litecoin by the end of 2024. so let's jump in on what is litecoin.
WHAT IS LITECOIN
LITECOIN (LTC) is a peer to peer internet digital currency /assets that
enables instant near-zero cost payments to anyone in the world, litecoin is an
open-sourced global payment network that is fully decentralized without any
central authority, so much like bitcoin.
it is a permissionless form
of internet money, in fact, you could probably use a very similar definition to describe bitcoin as well. So now
let's dig deeper,
how is litecoin different.
Well litecoin one of the first altcoins, was
created back in 2011,
about two years after bitcoin, and it was designed to be faster and cheaper and
also have four times the supply. So while bitcoin has a fixed supply of only 21
million litecoin has a fixed supply of only 84 million, there will only ever be
84 million litecoin, ever, ever.
And those are really the
main differences. The one additional detail, I will add is that with something
like bitcoin, we don't know who created bitcoin. It was a synonymous person or
group of people named Satoshi Nakamoto with litecoin, we do know who created
it. A man named charlie lee, who was an ex google employee chose to create the
blockchain and had the vision to create a lighter version of bitcoin, thus litecoin
was born.
So now you have a base,
understanding of this Litecoin cryptocurrency and I do want to share with you
some of the most significant features coming to litecoin in 2023, we'll talk about the potential here but
let me preface by sharing my thoughts, my take on litecoin in 2023, and then how
that relates to potential price per LTC, because if you're maybe newer to the
space, you may hear.
Hey, not only are
transactions way cheaper way faster if you use litecoin, but also just based on
units, one LTC is way less expensive than one BTC, I did it, I found the next
bitcoin.
Yes,Ii like it. well, let me
set you straight right there. we are seeing this bull market in 2023 be
institutionally driven, some of the most respected traditional hedge funds
investors, as well as publicly traded companies, choosing bitcoin overall
other cryptocurrencies to accumulate the huddle.
Now, why is that why would
they choose bitcoin and not litecoin. you see the revolution of bitcoin
is not that we have a currency that's not fast and cheap.
We have fast and cheap now I
can Venmo you I can PayPal you instantly, and you'll receive the money
instantly.
So that's not the revolution
here, the revolution, with bitcoin is censorship resistant permissionless money
bitcoin is the most decentralized, it is the most censorship-resistant.
There's way more nodes for
bitcoin, which validate the network transactions, the development of bitcoin is
way more decentralized like coin and bitcoin mining in the year 2023 is way
more decentralized than other similar proof of work coins and that's really
what's valuable.
That's what people want it
accumulate, and also the other big differentiator that you should know, if
you're looking at bitcoin if you're looking at litecoin is that bitcoin, which
was created in the year 2009 really the first one and a half to two years it
had no price, so it traded those first few years, just as a digital
collectible, and then around 2011, people started to put a price on it, as
their network continued to grow as opposed to litecoin which was launched about
two years later, and by that time and people had sort of discovered that hey
cryptocurrencies seem to have value there.
So the supply either got
bought or mined up a lot quicker, by way bigger players hoarding and
accumulating now litecoin is still be centralized it's still permissionless,
but everything's a spectrum, and there's a reason that we're seeing way more
institutional demand for bitcoin.
These copycats are valuable,
but they're no bitcoin. hey, why don't you tell me down below what you think,
and all that being said and now that you know the difference.
That's not to say that
litecoin won't pump. It is an oscillator, it performs well in bull markets.
So let's get to it, let's
get to price targets for litecoin for this year and to do that, let's define
oscillator, a thread on altcoins from on chain analyst really will bolt coins
are nuanced, we have protocol coins utility coins security tokens, non fungible
tokens and fts, but to an investor, there are only two types of altcoins
oscillators, and generators, and you can spot them on the chart of the entire
market.
TOP 2412 COINS AGAINST BITCOINS PRICE
Top 2412 coins against bitcoins price. now, what this means to
you. it means that the vast majority of altcoins are DJs meaning their price
chart has a measurable half-life like radioactive decay.
This one specifically right
here. This one is named coin. the promising coin of its era, although there are
over 2000 examples of prices of these coins degenerating like this.
Those are coins you probably
want to pass on. because, on the other hand, there are a handful of oscillators that are proving store of value properties.
So to qualify to be an oscillator,
they need to keep up with BTC USD gains, so not just USD gains.
They need to have gained
against BTC as well, at least in periods of oscillation, define them. plot
their BTC value, it must oscillate around a horizontal line for at least one
full bull-bear cycle around for years, more cycles are better.
So dogecoin is an example of
this litecoin, of course, is an example of this and we see multiple years this orange
is the BTC value of this blue is the USD value, we see multiple years like when
going outperforming BTC, year after year after year again and that's how we got
that 90x four years ago in 2017.
So what do we have to expect
from litecoin this year. well, litecoin does act as a testbed for bitcoin,
meaning that because it's a copy of the code, whatever can be developed in
litecoin should be able to be developed on bitcoin, and we can test it out on
quote unquote less valuable less important chains, before we implement it into
bitcoin.
Another thing that I think
is big for 2023 is light coins and mimblewimble code will be ready by q1 of
this year, mimblewimble adds privacy adds fungibility to litecoin and, unlike
manero or z cash or other privacy coins we have member wimble adds privacy
without making a transaction bulky, so it's wider, it's faster, and it still
keeps the privacy, that's gonna be big.
This year, even founder charlie lee says fungibility is the only property of sound money that is missing from bitcoin
and litecoin.
Now that the scaling debate
is behind us the next battleground will be on fungibility and privacy.
so mimblewimble is coming,
and while around four years ago charlie lee did sell the majority of his
litecoin holdings and the community was sort of mad at him at the time, it
did, in a way, decentralize the project a little bit from its founder, and that
plus the privacy aspect does add does make litecoin interesting.
One of the cryptos most poetic
chapters will be the second coming of litecoin, the importance of satoshi
light, charlie lee distancing himself will be appreciated once battle lines are
drawn for the final boss. the war on privacy begins in litecoin leads BTC in
implementing a new privacy tech.
So there's a reason to be
excited. there's a reason to see value in litecoin, at least for this year, in
a bull market in 2023 and of course one of the most significant things in my
opinion for litecoin as cryptocurrency gets put on more and more people's radar
is from a regulatory point of view, it seems to have either been grandfathered
in or just flown under the radar of the sec and other regulation entities in
the us and abroad.
The sec killed icos in fact
they're still going after icos for four years ago, defy could be next. i think
one of the main reasons, PayPal, for example, chose to list litecoin is because
they see it as sort of a safer play on any of the newer coins, like defy,
there's more of a safety there even greyscale away for average people as well
as institutions to get exposure to cryptocurrencies greyscale has a litecoin
trust grayscale is one of the entities, buying up litecoin right now, and of
course we've seen other major smart contract platforms like Cardano like flair
network, for example, choose litecoin to interoperate with and bring litecoin
into sort of the smart contract defy realm flare network plans to integrate
with litecoin to bring decentralized finance services dphi to the currency,
allowing litecoin to be used trustless lee on flair, with aetherium style smart
contracts and promising interoperability and composability for it.
So smart contract platforms,
want to integrate with litecoin, it's clear that litecoin is still in the conversation.
So if litecoin 90x from
about four or $5 to $360, four years ago. what potentially could litecoin do
today. well, let's be safe because, on this channel, I would rather under
promise over deliver and by the way, there's no guarantee that any of these old
coins pump.
But I do think BTC is gonna have a very good
year. and if at minimum bitcoin goes from around 20,000 to, definitely,
100,000, but maybe even a 200,000, a 10x from where bitcoin started the year.
Its possible litecoin oscillates litecoin could easily have a 20x from the start of the year.
and at the beginning of this year around january 2 litecoin was between 130 and
$140, a 20 x from something that was around $137 is $2,740 per LTC things could
get crazy,
but you let me know what you think about like going this year as an investment
like always.
Conclude – Here we ave
learned as a beginner what is litecoin cryptocurrency & its full history
and updated
litecoin price prediction with a live chart in 2023. so if you want to know more
about latest litecoin news, a free gift card of litecoin then comment me.
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