Ever found yourself search ‘Litecoin price GBP’ to try and find out which way this altcoin is heading?
Litecoin may not be one of the biggest or most lucrative cryptocurrencies – yet. However, there exists a whole community that considers it a potentially exciting investment opportunity.
When looking at Litecoin’s long-term prospects stretching to 2025, all chances are that the altcoin will probably hit its records. Seeing how Bitcoin almost always dictates the course of action for other altcoins, it is possible to estimate Litecoin price for the next three years based on Bitcoin price projections.
Litecoin entered the world of cryptocurrency as digital assets began winning the affection of speculators and investors throughout the globe. There was a time, however, when LTC/USD was rated within the top 5 of cryptocurrency market capitalisations as its advocates kept stressing its benefits compared to the ones of Bitcoin.
This formed a support bloc as people started questioning the Litecoin price several years in the future.
Created in 2011, Litecoin started trading along with the rise of market interest in 2017, just like its major competitors.
Same as Bitcoin, Ether, and Ripple, Litecoin price GBP went from £2.45 as an anonymous project to a cryptocurrency that reached a record price of £327 in December the same year it started trading.
However, similar to other cryptocurrencies, Litecoin suffered more corrections in the price over the next few years.
At the time of writing in May 2022, Litecoin price (GBP) was hovering around £60 ($73) after witnessing steep losses within the global crypto sector.
Depending on various factors, the Litecoin (LTC) price prediction for 2025 will probably follow an overall movement of other cryptocurrencies, starting with Bitcoin. Nowadays, we’re witnessing various geopolitical commotions, pandemic bursts, recessions, and general uncertainty with the ongoing world financial strategy.
Let’s not forget that while Litecoin was once one of the top-rated cryptocurrencies regarding market capitalisation, it is now ranked as only the 21st largest digital asset.
Some traders seem to be pretty apprehensive about the future of Litecoin, but it’s essential to be aware that all the ups and downs are just a part of a Litecoin’s path.
Yet, if we look at the long-term charts, Litecoin did underperform the strongest cryptocurrencies. Other digital currencies have made it successfully to the top 10 thanks to strong marketing campaigns, celebrity endorsements, etc. Litecoin was pretty much left in the shade of ‘younger’ cryptocurrencies made to excite coming generations.
The Litecoin price prediction for this year doesn’t look all fine and dandy; that’s true. However, none of the other cryptocurrencies will likely move in a better manner. They will all probably go in conjunction with the broader market.
But, let’s start with the prediction for 2025 and the reasonable belief that the cryptocurrency will continue to exist. Truth be told, there are minimal chances of Litecoin simply collapsing.
Still, if we take the underperformance of Litecoin for real, by just observing technical charts and evident sentiment predictions, traders could ask themselves whether Litecoin price could rise with the same velocity as its competitors?
Before talking about the possibilities for Litecoin values during the next few years, let’s remind ourselves what brought it to its current level. A little while ago, it wasn’t that hard to become popular in the world of crypto.
However, nowadays, we have new digital assets such as Dogecoin, Solana, Polkadot, and Cardano, which all serve various functional features. Litecoin, on the other hand, owns its success primarily to the fact that cryptocurrencies are pretty volatile and speculative. Basically, its value is defined by investors’ betting on the Litecoin price or, more concretely, on the profits or losses that come as the outcome of its change.
Looking ahead to 2025 and 2030 for Litecoin continues to be a debatable endeavour, and trying to make estimates can seem futile.
However, looking at the overall cryptocurrency market and Litecoin’s history, it isn’t preposterous to suggest that 2025 values for Litecoin price (GBP) could hover between £245 ($300) and £408 ($500) per coin.
Litecoin’s Potential Dangers
However, to stay realistic, we should consider the possibility of Litecoin price going south as well. Litecoin has already lost traction and fallen out of the top 20 regarding market cap. Governments worldwide keep scrutinising cryptocurrencies regarding their transparency and this doesn’t seem to be helpful to Litecoin at all. Also, if ‘younger’ cryptocurrencies continue to shine through, presenting new technologies to new generations, Litecoin price could keep plunging.
“Innovation distinguishes between a leader and a follower,” it was once said by Steve Jobs.
This can also be applied to Litecoin. If it doesn’t come up with something new, it could face a downfall.
Let’s go back to thinking positively. Litecoin has a fascinating history of tremendous players interfering in its path. During the last few years, whales have made pretty big transactions. Also, while Litecoin’s market cap has been going down, the no 21 cryptocurrency still has a market cap of nearly £3.9 ($4.76) billion at the time of writing, which is a nice piece of potential trading going on within the crypto space.
The truth is, Litecoin is sensitive to all the movements on the market. Remember, there is a difference between buying Litecoin (or any other crypto for that matter) to gain profit in the short or mid-term and buying it with the plan to HODL.
The timeframe is, therefore, a focal element of investing in Litecoin. If you want to stick to the short-term perspective, you should abide by all the rules and technical tactics according to daily changes in sentiment and the possibility of whales coming in.
If a trader decides to invest in Litecoin for a longer period, they can hold onto positions through 2025 and beyond, risking a limited amount of money to earn profit.
Expectations are that the Litecoin price (GBP) will be between £180 ($220) and £816 ($1,000) per coin in 2025.
Source link https://news.monitalks.io/news/article/litecoin-price-gbp
Source link – https://topnews-usa.com/crypto-news/litecoin-price-gbp-prediction-for-2025/