Litecoin was also able to make valuable gains in the spring of this year. Like Bitcoin and Ethereum, the course managed to reach important support levels again. It has now recovered from its year-to-date low. In this article, we want to determine a forecast for LTC and address the question of whether and when it can break the USD 100 mark.
The price has been very volatile for the past seven days. It was between USD 86 and USD 77. In the last 24 hours, the price rose again slightly and is currently at the level of USD 80.47.
Now investors are wondering when it can break the USD 100 mark again. That has been done a few times this year. However, the support was not enough to sustain himself in this area.
When will the 100 USD be possible again? That’s what the market says
Litecoin is one of the leading coins and currently ranks 13th in terms of market capitalization. However, just like all other altcoins, it all depends on the performance of the market.
First, there is bitcoin, which usually sets the direction of all crypto prices. It has also been very volatile over the past month. The support around the USD 30,000 mark seemed to be broken for it. Another important point was the $28,000.
The price has fallen significantly over the past seven days and is now at USD 26,815. He lost a few percent that he was able to collect in the last two months.
Another important factor is the macroeconomic environment that cryptocurrencies are exposed to. Several indicators currently suggest that the market may stabilize further.
The main interest rate will not rise as much as last year. The inflation data is also developing positively again. Another point that should be taken into account in a forecast at the moment is the banking crisis in the USA. At first glance, this seemed to have a positive impact on the crypto sector. Many investors saw cryptocurrencies as an alternative to the classic financial market. If these developments continue, it could affect most cryptographic matters in the future.
Overall, the current market offers good conditions for long-lived cryptocurrency, such as Litecoin, to increase in value in the future.
Therefore, if the overall market moves in a positive direction again, it is possible that Litecoin could also move back towards the 100 USD mark.
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Litecoin Price Forecast: That’s what the experts say
Regarding the Litecoin forecast, in addition to your own fundamental values, there are other factors that will affect the price in the future.
Coincierge experts expect the price to be between $108 and $134 this year. They referred to analytical calculations, the stock-to-flow model and various charting techniques.
Invezz.com is also convinced that the price will rise above the USD 100 mark in the future.
If you look at other forecasts that affect the entire crypto market, the outlook is also positive. A Bloomberg expert emphasized a few days ago that cryptocurrencies are currently on the edge of a bullish trend. However, the cycles may change in the future.
“Bitcoin could set a new all-time high in the future, but it is unlikely to see the same growth as previous cycles due to an increase in market size and competition from other digital assets.”
On Twitter, the question is already being raised whether Litecoin could overtake Bitcoin soon.
Litecoin’s transaction volume is increasing, and some are speculating about the possibility of it overtaking Bitcoin. What could this mean for the future of crypto? #litecoin #Bitcoin #cryptocurrency” pic.twitter.com/dp9ouI4Xok
— Concha (@conchaxhill) May 9, 2023
Litecoin is one of the first altcoins to be released. It was meant to be a lighter version of its predecessor, Bitcoin. Just like the initial cryptocurrency, the Proof of Work procedure is also used here. So miners can mine the coins.
LTC started trading in 2011 at a price of $4.40. It was only in 2014, during the first Bitcoin bull run, that he managed a more significant increase. It rose to USD 44 in the process.
Four more years later in 2018, the price exploded and reached a value of over $300. After many up and down movements, the price was around USD 65 at the beginning of 2022 and 2023.
With the LTC, users got a token that offers a real use case for its users. Until now, it is used as a popular payment method in the crypto sector. Another promising cryptocurrency is the AI Doge. This is currently in pre-sale and has already convinced numerous investors.
AI Doge pre-sale takes 6.5 million USD
The AI Doge Token ecosystem also depends on the use case of its users. It should be possible in the future to create your own memes with the help of artificial intelligence. These funny pictures should then be published for evaluation. In addition to the fun factor, the founders of the meme coin want to offer other options.
The token should be able to be used in betting, which would enable users to receive regular income. The project is currently being pre-sold and recently broke the $6.5 million mark. In the next few days there is a price increase that will bring the selling price to $0.00003. Investors looking to buy the meme coin should still have some time to do so. According to the developers’ roadmap, pre-sales are scheduled to be completed in the coming quarter.
Cryptocurrency with potential 2023
Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.