Why Litecoin Is Massively Undervalued vs Bitcoin

A scant handful of experts predict that XRP can reach $10 in the near future — if ever. If the bear market reverses, XRP is likely to follow the trend of bitcoin and begin to rise again. CoinQuora sees the currency breaking $10 in 2022 if crypto reverses course to become a bull market again. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein.

Some of the things they have in common are anonymity, decentralization, the ability to be mined, and the consensus mechanism (Proof-of-Work). At this point, most experts tend to fall on the bearish side of the coin when it comes to LTC’s price in the coming three-to-five years, but we’re also in the midst of a crypto winter. And bearing in mind that the crypto market moves in cycles, LTC could see significant corresponding price increases during the LINK next crypto bull run. But, then again, show me a crypto that isn’t a rollercoaster of emotions. LongForecast, a group that uses mathematical and statistical indicators to predict the long-term performance of investments, has gathered some data for Litecoin price prediction over the next few years.

Litecoin Price Prediction 2028

Following the market’s post-November 2021 plunge, though, LTC has remained in the $50 region. Losing support would take LTCBTC to the lowest levels yet, but a full reversal here could take the altcoin back to highs on its ratio against Bitcoin. Only 84 million LTC exist, a mere four times the amount of the BTC supply. And if scarcity is driving the demand behind Bitcoin, the fact that Litecoin isn’t at all following is confusing. Litecoin’s code is very similar to Bitcoin’s, giving it several key similarities that should be benefiting the “digital silver” counterpart currently, such as hard-coded scarcity. A reversal on the trading pair could help Litecoin catch up to the rest of the market, which has already set new all-time highs and then some.

Wallet Investor’s LTC price prediction is moderately bullish in the short run but expects this coin to go through a period of explosive growth in five years. GOV Capital also has a positive outlook on the future of Litecoin. Although they are bearish on it in the short term, they expect LTC to start rising again sometime next year.

Does Litecoin Have a Future?

To be stored safely between transactions, they need to be kept in a “wallet”. Litecoin’s current circulating supply is 71.69M LTC out of max supply of 84.00M LTC. The current yearly supply inflation rate is 3.70% meaning 2.56M LTC were created in the last year. In terms of market cap, Litecoin is currently ranked #4 in the Proof-of-Work Coins sector and ranked #7 in the Layer 1 sector. The outcome of the search was cryptocurrencies DCR, LTEC, XMR, and ZEN.

• This means that there is a person out there who has at least some additional influence over the project.
• Order books contain orders to buy or sell an asset that are determined by exchange users.
• We can see that disrespect through the lack of coverage of the coin and through the egregious discount to NAV in Grayscale’s fund.
• Ethereum is a blockchain-based software platform with the native coin, ether.
• Kirsten is also the founder and director of Your Best Edit; find her on LinkedIn and Facebook.
• The Barchart Technical Opinion rating is a 100% Buy with a Strengthening short term outlook on maintaining the current direction.

Whether or not these currencies do increase in value, and to what degree, largely depends on how successful they are in gaining widespread acceptance. One of the primary factors that could lead to a significant increase in value is the fact that most cryptocurrencies have a limited number of currency coins, tokens or units that can be mined. If demand increases, with limited supplies, prices could increase according to the simple laws of supply and demand. A “buy” signal means that Litecoin’s price is expected to rise in the near future.

Yet when miners add a new block to Litecoin’s blockchain, they’re rewarded with newly-generated LTC. This could indefinitely increase the supply of Litecoin if it weren’t for halving. The goal in launching Litecoin was to improve on Bitcoin in a few different ways. For one, Lee developed a new hashing algorithm for Litecoin called The simpler algorithm supported Litecoin’s faster transaction speeds.

Litecoin on Beaxy are seamlessly integrated to make your experience as smooth as possible. Live educational sessions using site features to explore today’s markets. I just remembered that my friend @mprspartan1 asked me about Litecoin vs Bitcoin …

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Litecoin is a decentralized peer-to-peer cryptocurrency created by Charlie Lee, a former Google employee, in 2011. The LTC network was designed to solve its elder brother’s network problems, such as transaction speed, scalability, and high commission fees for each financial transaction made on the blockchain. Bitcoin and other cryptocurrencies are like the email of the financial world. The currency doesn’t exist in a physical form, and the coin is transacted directly between the sender and the receiver without banking intermediaries to facilitate the transaction. Everything is done publicly through a transparent, immutable, distributed ledger technology called blockchain.

Simply input the amount of LTC you want to convert, select BTC, and get the result! CoinYEP Foreign exchange converter and cryptocurrency converter. All data for the values is being sourced from Binance, Coinbase, a trusted and popular platform to trade cryptocurrency.

Does Litecoin use Proof-of-Work?

In March 2021, Litecoin had a total value of $13.7 billion, whereas Bitcoin’s value was around $1 trillion. Bitcoin has an average transaction confirmation time of less than 9 minutes, although it may last a bit longer in moments of high traffic. At the same time, Litecoin was created with the goal of making transactions faster, so transaction speed would be attractive enough for people to use it. https://www.beaxy.com/ Litecoin’s transactions take under 2.5 minutes, and this is one of the reasons why it became more popular over time. On the other hand, halving can have a negative effect as it decreases the profit for miners. This can cause some of them to stop mining, which can have many effects on the blockchain, such as increased waiting time, larger fees and general lower quality of life on the network.

So, the process that allows the two currencies to be mined is similar, as stated above. This information is relatively useless to most users, however, a person with a specific knowledge and toolset could easily use this info to track specific transactions. Current mining award is , and this amount is halved every 840,000 blocks, which is about every 4 years. There is a lot of space for optimization here, which can further increase profit. Getting access to renewable energy through solar panels and wind turbines can often be a worthwhile investment for those willing to pay an extra buck.

Charlie is still leading its development and very active in the cryptocurrency community. Charlie also worked for coinbase.com for a long time, before quitting in June of this ETC year to focus on Litecoin full time. From the get-go, without any additional tech layers added on top of the Litecoin blockchain, it’s a faster cryptocurrency to transact than Bitcoin, and it does so more cheaply.