Litecoin price forecast for 2022: what are the prospects for “virtual silver”?

• LTC exceeded $400 target
• LTC peaks at $415.
• The nearest support is at $370.

Today's Litecoin price forecast is bearish as the market has risen more than 20 percent in the last 24 hours. As such, we expect a short-term pullback before further gains later this week.

Analytical portal

Overall, the market is in the green today as there were strong upward moves across the board overnight. Bitcoin rose 1.4 percent and Ethereum rose 4 percent. Among the best performers are Litecoin and Stellar with gains of 15 and 18 percent, respectively.

LTC/USD opened at $388 after strong gains yesterday. Overnight, the $400 mark was breached without much resistance, leading to a new all-time high set at $413, where there had been some deviation from further gains earlier today. Therefore, we expect Litecoin to recover over the next 24 hours and retest previous resistance around $370 as support.

Litecoin: prospects, pros and cons

The seven years of Litecoin's existence are full of numerous ups and downs. All this time, there are factors that hinder stability and pull the price in different directions. Until now, the community cannot come to a consensus in assessing the potential and forecast for the Litecoin exchange rate, even for the near future. Some predict it will be the future of the first cryptocurrency and mass use by millions of people for daily payments, while others consider it just an unsuccessful copy of Bitcoin.

In this article, we will try to provide facts and arguments in favor of both points of view, and also introduce you to the most famous litecoin price forecasts for 2022.

As can be seen from the graph, even in the disastrous 2022 for the crypto-economy, LTC had two fairly confident attempts to restore lost positions - at the end of February and the beginning of May.

The current rate according to the Coinmania website shows the price change for six months: -58.01%, for a month: +4.38.

The most popular cryptocurrency on the Darknet

It’s worth saying here that competition on the darknet is progressing. Roughly speaking, Litecoin may soon become the most popular cryptocurrency in this segment. It works great and quickly, which is exactly what is required.

Although Litecoin does not provide unconditional anonymity (probably the most important factor), its popularity in this direction is still growing. It is worth saying that some time ago, several shadow platforms refused to use Bitcoin, citing the fact that it has a lot of shortcomings, including gaps in anonymity.

Now buyers and sellers are actively looking for a worthwhile replacement. Initially, attention was focused on Monero, since this crypt has a very high degree of anonymity, but it still inherited many flaws from Bitcoin. In addition, many users are very doubtful about the security of this cryptocurrency.

Details on which cryptocurrencies will grow in 2022.

An amazing fact, but about 30% of transactions on the darknet come from Litecoin. Bitcoin is systematically losing its position on the darknet. Now Dash, Monero and Litecoin are actively fighting for the primacy of the darknet cryptocurrency, it is noteworthy that the latter is in the lead by a serious margin.

The case for LTC growth by the end of 2018

1. The first and most important thing is activity, dedication to one’s work and, if you like, the power of charm of the personality of the father-creator of Litecoin, Charlie Lee. Before starting to develop his own cryptocurrency, Charlie managed to work at Google and Microsoft, and from 2013 to 2022. collaborated with the largest cryptocurrency exchange Coinbase. In 2017, the creator of LTC was named one of the three most influential people in the blockchain world according to the popular information portal Coindesk.

“I wanted to create a silver coin, litecoin, in addition to gold Bitcoin. “I really didn’t expect my currency to become so popular,” says Lee. – I bet on silver because it is lighter and cheaper, which means people will use it more often. After all, no one pays in gold for daily purchases. And if operations with military-technical cooperation are constantly becoming more expensive, then in the LTC network they still remain relatively cheap.”

Today, Charlie is tirelessly engaged in improving and promoting his brainchild. His Twitter page @SatoshiLite regularly publishes fresh and useful information, interviews with well-known representatives of the community, and heated discussions on a variety of issues related to the world of cryptocurrencies continue. His name, and with it the name of the litecoin brand, regularly appears in news materials, and Lee himself is a frequent guest and speaker at major industry conferences and forums.

Charlie willingly cooperates with the media, never missing an opportunity to talk about the advantages and prospects of Litecoin. Even though he believes bad journalism is rampant in crypto

1. Technical advantages of Litecoin. If it takes 10 minutes to confirm a new block in the Bitcoin network, then in the LTC network it happens four times faster – in 2.5 minutes. Accordingly, the speed of transactions is higher, and commissions are lower (about 1%). The scalability problem, which has become a stumbling block for many cryptocurrencies, including BTC, has been solved here thanks to the introduction of Segwit and Lightning Network technologies.
2. The growing popularity of LTC. There is a pattern: the more positive news comes about the introduction of digital assets and blockchain technology, the higher the rate of Bitcoin, and then other cryptocurrencies.
3. Real decentralization and representativeness. Users have known Litecoin for many years and trust it. LTC investors and miners have created one of the most friendly and active communities with a high rating on the Internet.
4. Market decline in 2022. Oddly enough, this point can also be added to the list of optimistic Litecoin forecasts for the end of 2018. In December 2022, the rates of all digital coins, without exception, grew at an accelerated pace, after which a long and quite natural correction began. Today the price of cryptocurrencies is so low that a further decline seems simply impossible.

History of Litecoin development

At the moment, the cost of one Litecoin is $210. However, before considering the LTC forecast for the current year, we suggest recalling how the cryptocurrency developed earlier.

As noted above, Litecoin was released in 2011. At the same time, starting only in 2013, the coin exchange rate began to show active growth, and the volume of mined LTC increased accordingly. This, in turn, led to the fact that this currency began to gain popularity among investors and even received the name “digital gold.”

However, in 2014, the market situation changed dramatically. The cost of BTC began to grow actively, while Litecoin remained in its previous positions. This circumstance, according to experts, was caused by the fact that cryptocurrency mining brings much less profit to miners, unlike other coins. Therefore, it is believed that 2014 was the key year for “digital gold”. In a short period of time, there was a significant outflow of miners to the ecosystem of the main competitor, and Litecoin lost second place in terms of capitalization, moving to fourth. Today, LTC remains quite confidently in the top 10 currencies and there are no serious factors for a significant change in the position of the coin on the market.

It is also important to note that Litecoin, despite a number of negative aspects associated with the features of its system, continues to be attractive to users for several reasons:

1. The coin is quite actively used as an electronic currency in the process of transactions within the community;
2. Cryptocurrency is often used to diversify an investment portfolio with the prospect of a possible increase in its value;
3. A profitable tool for short-term speculative actions.

What negative factors could affect litecoin's prospects in 2022?

Bitcoin developers have recently made some progress in solving the problem of network scalability. If the speed of transactions using BTC becomes equal to the speed of Litecoin, the latter will lose its advantage. And although the LTC team, led by Charlie Lee, is persistently trying to bring their networks to a new technological level, they do not yet have any global ideas for further development.

Another problem is the high competition among newly emerging altcoins, the technologies of which have stepped far ahead compared to 2011, when litecoin was created. New cryptocurrencies are not only a convenient means of mutual payments, but also carry other useful functions.

Is it worth investing in Litecoin?

No one can answer this question with certainty. Everyone makes their own decision, but we advise you to pay attention to the following facts:

• Litecoin is a fairly young cryptocurrency, so every six months of development of the ecosystem opens up new opportunities for the project. In this regard, it is best to evaluate Litecoin in perspective.
• During 2022, the price of the coin increased more than 25 times.
• Centralized management of the project allows the community to respond much more easily to sharp market fluctuations.
• No forks and a single line of further development.

To summarize, we note that the coin has potential, but it is worth understanding that any forecast is a delicate topic that requires serious control and assessment of different points of view. Despite the planned increase in the price of the cryptocurrency, we believe that it is not advisable to invest all your savings in Litecoin. This rule remains relevant when investing in any of the cryptocurrencies - do not invest all your funds in a single asset.

TOP forecasts for Litecoin by the end of 2018

Expert opinions regarding the future of LTC vary greatly, so we decided to present you with all the popular forecasts. To make the only right decision, it is useful to know several points of view.

1. The Walletinvestor website promises an increase in the LTC rate to $200 by the end of the year and then further growth in the long term. The resource makes forecasts through machine analysis, taking into account exchange rate changes over the entire lifetime of the assets.
2. The Litecoin rate will continue to fall and by the end of December will be approximately $36, that is, it will lose another 20% of its current value. This is a forecast of experts who take as a basis the general negative situation on the market and attach great importance to the SEC’s reluctance to approve a Bitcoin ETF. As it became known on October 5, the American regulator once again postponed consideration of the joint application from Cboe BZX Exchange Inc and GraniteShares to the end of the month. A positive decision by the SEC, according to many community members, could instantly reverse the trend of the entire cryptocurrency market. Considering that this is almost the tenth postponement, the chances of receiving regulatory approval before the end of 2022 are very small.

Members of the SEC (USA) still cannot decide on their attitude towards cryptocurrencies. Will there be a decision on Bitcoin ETF on October 26th? According to most, the likelihood of this happening is close to zero.

1. By the end of the year, the cost of LTC will remain at $58-66, according to the Economic Forecasting Agency. Despite this, they do not advise selling coins to those who already have them. According to the calculations of the Agency’s experts, a new round of growth in the price of Litecoin will begin in mid-2022, and by 2022, the “silver” cryptocurrency will significantly strengthen its position and return to the top three.

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Price forecasts

Expert opinions were quite predictably divided. Some are counting on a long-term rise in value (by the fourth quarter to $200, or even more). The statement is certainly bold, especially against the backdrop of current quotes (approximately $55-60). Other experts call more modest prices - approximately $70 by the end of 2022. That is, the tendency to stay in the top ten cryptocurrencies will not change, and no sharp rise (or decline) should be expected. Even with the very strange behavior of BTC. Who to believe?