Will Litecoin ever hit the $10,000 mark

[Bitcasino.io Support]

Hello crypto guys!

On May 10, 2021, Litecoin (LTC) reached an all-time high of $414, according to Coinbase and Morning Star.
That’s close to a 10,000% value increase from its original $4.30 opening price, back in 2011. The idea that Litecoin and other cryptocurrencies
have massively increased in value comes from a steady spike in the global adoption of cryptocurrencies.

Now the question on every savvy crypto enthusiast's mind is, just how high is the trading price of Litecoin set to climb in years to come?
Does the currency have the backing to hit the $10,000 mark by 2030?

Well, it depends on who you ask. While there are factions that feel that Litecoin’s peak has already been reached, many seasoned crypto
experts/exchanges and firms anticipate the coin to rise exponentially in the next decade. Let’s briefly unpack the argument on both sides
of the spectrum.

Arguments in favour of Litecoin reaching $10,000 by 2025/30

The cryptocurrency market is experiencing unprecedented growth. Whether down to influential billionaires encouraging the use of altcoins
via Twitter, the impending diversification of massive financial institutions, or the state of the world in the wake of COVID-19.

Any which way, it’s pretty clear that a vast majority of the world is moving to permanent digital adoption. And, the potential for Litecoin
to reach $10,000 is a sure fire indication that cryptocurrency stands as the ultimate forerunner to where our investments, finances and
lives are moving to as a population.

A worldwide crypto boom has taken place recently, from Elon Musk advocating DogeCoin and Bitcoin climbing higher than it’s ever been
before, the world is wide awake to the infinite possibilities that come with investing in crypto. Litecoin is part of the action and benefited
from the worldwide boom in crypto coin adoption.

Litecoin for the people
After billionaire Tesla tycoon Elon Musk tweeted that “Dogecoin is the people's crypto”, a digital shockwave reverberated throughout the
world and a “joke” coin saw a 12,000% value increase almost overnight. This ripple and others like it have, by default, helped raise the
price of Litecoin, Bitcoin, Ethereum, and any other leading cryptocoin.

Why? Cryptocurrency is, in essence, a marketing machine and, at the end of the day, only as effective as the people that stand behind it.
If the mass popularity and support of cryptocurrency continues to climb, so will its adoption, and most importantly, so will it’s value.

These days, a Twitter post has the power to change the financial market. Who's to say this trend won’t continue? That the next high profile
Litecoin advocate won’t have enough sway to send the price to $10,000 by 2025 or 2030!

Litecoin brings in new investment potential and changes the financial sector
While we’re on the subject of mass adoption, the world is catching on to the viability of cryptocurrency as an alternative investment.
Brick and mortar securities are taking a dip and the global adoption of digital assets are on the rise. According to a recent study done by
Charles Schwab, the number of Gen Z and Millennial investors willing to forego traditional stocks to invest in crypto and other digital assets
is reaching 51% of the population.

And it’s not just the public making a move to cryptocurrency adoption. According to Statista, some of the biggest financial institutions,
investment firms, and fintech providers have been rapidly investing in blockchain technology, from 2019 up till now, with banks leading the charge.
This all bodes extremely well for a continued spike in Litecoin value as well as other major altcoins. With so many major institutions adopting
Bitcoin as a viable payment method, it’s a matter of time for networks like Litecoin to follow.

The rate of financial institutions investing in Blockchain technology.



Above metrics courtesy of Statista

Ongoing improvements to the Litecoin protocol
Throughout the global hype, Litecoin has continued to evolve and refine its existing protocols, both as a network and currency.
Big updates have been realised, such as the MimbleWimble extension block upgrade. MimbleWimble will improve and build on key protocols
that arguably, up until now the currency has been falling behind on. The upgrade will boost and secure the overall fungibility and privacy of the blockchain.
By default, this move will boost overall scalability, leading to continued adoption. In fact, many experts are saying that this upgrade will massively
influence the price of Litecoin (LTC) over the next 5 to 10 years. With the above taken into account, there may be downsides to the recent Litecoin spike.

Arguments against Litecoin reaching $10,000 by 2025/30

While the majority of crypto enthusiasts see only growth on the horizon for Litecoin, there is still speculation from certain factions that Litecoin can,
and might already be dropping into a bear market. Some reasons being:

* The potential overvaluation of Litecoin
With such a massive valuation occurring in such a short space of time, certain leading crypto-watchers maintain that Litecoin (LTC) may be
overvalued in the current market.

This impression comes on the backend wave of a massive (and potentially unsustainable) bull run where a number of altcoins (Litecoin, included)
have received widespread attention and continued support as a solid investment option. Without the continued championing of the coin from
influential holders and the public as a whole, there is a relatively good chance that the bubble might burst and the price will start to diminish
from here on out.

* Litecoin overbought?
The LTC/USD relative strength index (RSI) has been reporting an overall rate of inflection ranging from 77 to 79.02. In plain terms,
the sheer number of individuals investing in the coin is inflating the value massively, so that, as of last month, the coin sits at 9 points higher
than the “overbought” threshold. There’s a chance that this could lead to market price corrections. If this goes ahead, the price will start
to decrease in a bid to level out.

Added to the above, the current Litecoin halving has nowhere near the same impact as Bitcoin. With the next Litecoin halving (August, 2023)
the end block reward is going to decrease by 6.25 LTC. Adopters and users speculate that this may only slightly raise the value of the coin
appreciation capability.

* Litecoin Credibility, under fire
Lastly, the power to promote the ongoing value of any altcoin comes straight from the top. Back in December 2017, Litecoin creator
Charlie Lee made the unprecedented move to sell off his entire portfolio of Litecoin (LTC). While this was widely regarded as a necessary
move taken to avoid a potential conflict of interest, (as he was at the time starting a new role at Coinbase crypto exchange) it sent shock waves
through the existing Litecoin community and begged the question: “does he know something we don’t”.

The fear, uncertainty and doubt caused from this decision lowered the credibility of Litecoin for a while, but since resuming his position as
managing director of the Litecoin network, faith is starting to be restored in the potential for Litecoin’s price to rise to $10,000 in decades to come.
So, with that said, let’s recap.

Will Litecoin reach $10,000 by 2025?

The short answer is NO WAY! Certainly not by 2025 at least. Having only started to near the $500 mark, there is still a long way for LTC to go
in terms of its global evaluation and adoption. That being said, there is a lot of potential for the Litecoin valuation to rise higher in the next few years,
with a lot of industry experts, investors and exchanges sharing the same sentiment.

A quick scan of notable crypto/fintech trading indexes have “same, same but different” answers to the question. Some, more optimistic than others.
The Crypto Research Report Group cites the price to reach $1,200 by 2025 and almost double to $2,300 by 2033. A long way off from the $10 000
mark but a strong increase nonetheless. Coin Switch agrees, believing that, with the August 2023 halving event, Litecoin could hit $1,200+.

Then you’ve got public opinion to go on as well. According to a few LTC/CRO surveys conducted in the last few months, around 80% of the
Litecoin community predict a $1,000 evaluation by 2025.

Then you’ve got companies like Coin Price Forecast, who far more optimistically, expect the LTC price to hit $1,600+ by as early as 2022.
Looking even further down the line to the future of LTC.

Will Litecoin reach $10,000 by 2030?

Again, given expert opinion and fluctuating market trends, it’s highly unlikely we’ll be seeing growth anywhere near the $10,000 mark by 2030,
but with Litecoin having gone through its fourth halving process by this time, the coins availability of circulation will start to tighten and there’s a
strong chance the price will continue to climb from there.

Coin Price Forecast speculates the price to hit $2,500 by 2030, while Coinbase, more reserved but still optimistic, sees the LTC price rising
 to around $1,350. According to Crypterium, LTC could go as high as $1,500 while most global crypto adopters feel that the price might
get to $2,000+, as long as the network keeps up with global demand for increased speed, transparency and security.

The general feeling is that By 2030, Litecoin will reach equilibrium at $1,500.

The Lite at the end of the tunnel
Speculating the Litecoin price for five or even ten years down the line is just that! Speculative at best. There are a number of factors, financial and social,
that will influence the price of Litecoin moving forward. That said, general agreement holds that LTC will continue to grow as both a
network and as a viable digital asset. 


Thanks for reading and waiting for your thoughts.

 
Cheers,
Karl from Bitcasino

[dadababa]

i guess not
lack of innovation and less in new area use except payment,it`s hard to give imagination to the people
maybe it would bounce with the market

[ipanks]

It is hard to say, but that could be possible. We do not know how Litecoin performance in the future, especially in 2030, which still 9 years later now. We can hope that it will become true but we never know. With the price now, it seems Litecoin is hard to break $500, so it needs more time to lift the price. But if many supports come to Litecoin, it can lift the price, which means the chance to break $500 will be happening later.

[Kitaiev]

I don't think Litecoin will reach this price. I still can't understand why people buy this coin it's just a fork of bitcoin. I think in the future such projects will have even less attention on the market.

[Nrcewker]

i guess not
lack of innovation and less in new area use except payment,it`s hard to give imagination to the people
maybe it would bounce with the market

Buddy no one has seen the future. So it’s impossible to claim anything that can happen in future.
No one has exactly thought about Doge 3 to 4 years back.
But now have you seen the growth of the coin?
Seeing the marketcap and popularity of LTC i can assume that the price might reach that level mark . But yes this is neither going to happen too soon.
It might take 10 or more years, but yes it will touch the high sky soon.
Moreover still waiting for BTC for 100k usd and ETH 10k USD.

[masterrex]

IMHO, I believe it was possible, But honestly speaking I was doubting it before that a particular cryptocurrency won't beat its previous all-time highs. But nowadays it was proven with my experience that I was wrong because most of the cryptocurrencies are achieving higher prices and beating their previous all-time highs. What I mean to say is In the crypto market anything can happen without any expectation. So who knows if Litecoin can reach that particular price soon.

[tabas]

That's too optimistic but the timeframe that was set was believable to happen. We can take the example of bitcoin and I wonder how much the total crypto market cap would be by that time. Bitcoin went through the same price during the early stage and that's why the idea that we have now is it's possible for every cryptocurrency that has the potential to go and grow in thousands per each of it.

[Little Mouse]

Charlie had once dumped all of his LTC holding in 2017, which I think is too bad. If developer of the project dump, who would believe in the project? Although Charlie Lee has bought back later.
I doubt it would reach $1000 even by 2025. There are a lot of other interesting projects out there than Litecoin.

[DeathAngel]

It could do but you’re looking at well over 10 years tor LTC to hit that kind of price. There's nothing stopping LTC reaching $10,000 but it’s going to take another couple of halvings imo.

[AmoreJaz]

Charlie had once dumped all of his LTC holding in 2017, which I think is too bad. If developer of the project dump, who would believe in the project? Although Charlie Lee has bought back later.
I doubt it would reach $1000 even by 2025. There are a lot of other interesting projects out there than Litecoin.

this, i can agree. though ltc is an old alt but it seems its growth is very slow in terms of development. on the other hand, there are new projects that are way better in terms of technology and applications in the market.
it may hit new ATH, but $10k mark, i believe is too much for this alt. unless, the ltc dev will provide something innovative that projects will utilise it on a large scale. but right now, it seems to be surpassed by other projects in terms of usage. we need visibility of this network in terms of market applications, otherwise, hard to reach higher level without strong use case.