by Rushali 
Cryptocurrencies are gaining momentum these days, many new investors are entering the world of digital currency. Companies like Tesla, MicroStrategy, Visa, etc have encouraged investment in cryptocurrencies. And celebrities also promoted many cryptocurrencies. All these things led to the current bullish rally of cryptocurrencies. But the issue is when people think about investing in cryptocurrencies they just know about bitcoin, ethereum, XRP, etc. There are many other cryptocurrencies as well but most people don’t know about them.
So, today through this article I will try to tell you about one of those cryptocurrencies that is Litecoin.
Let’s start with the basics, what is Litecoin.
What is Litecoin?
Every cryptocurrency has its own kind of features. Some are a well-known currency like bitcoin and some are enabled with privacy features. In 2010, Charlie Lee has thought that everybody knows about bitcoin but people should get something that is light and people can do affordable forking. So he made Litecoin and the name was also derived from bitcoin Light-lite+coin-bitcoin. Litecoin is basically an improvised version of bitcoin. It has bought sustainability and more reliability as the features to the already bitcoin’s features. It features among the top 10 cryptocurrencies of the world.
Also Read : XRP price prediction
Advantages of litecoin
# It fulfills all the demerits of bitcoin.
# It is a better payment system than any other cryptocurrencies.
# It is around 4 times faster than bitcoin. While litecoin takes only a few minutes to complete a transaction bitcoin takes over 10 minutes.
# It also has a fewer transaction fee.
# Litecoin mainly focuses on growing consumer demands by using the power of blockchain in strengthening global payment systems.
Litecoin partnerships
For growing in the market the cryptocurrency needs some solid partnerships. Litecoin has a close Partner, Ravala, who facilitates hotel booking for all Litecoin holders in more than 210 countries, covering over 82,000 locations. It has also partnered with major fiat-crypto payment processors like Aliant Payments and Coingate.
Historic price movements
Litecoin almost follows the price movements of bitcoin. Not exactly but it goes on the same path to some extent. Litecoin was at the peak in December 2017 with a price of $375.29. After the pandemic had corrected the cryptocurrency, now it showing a recovery. Today, litecoin is trading at $183.51 that is 2.6% down.
- Price prediction for the year 2021
As the year started with a bang, bitcoin has reached its new all-time high. So, we are expecting that litecoin will also follow the same path and reach $185.
- Price prediction for the year 2022
The bullish run will continue in the year 2022 also and we can expect that it can break the previous high of $361.
- Price prediction for the year 2023
This year the cryptocurrency can show a downward movement and will trade between the range of $180-$250.
- Price prediction for the year 2024-2025
It is very difficult to predict the price after 4-5 years. So, overall we can say that litecoin has many projects that will help it to remain a great investment option.
At last, we can conclude that Litecoin has a great future on a long-term basis. So if you want to invest then you can invest now and it will definitely give you returns in the future. And it is a cheap option also as compared to bitcoin.
Also Read : Chainlink price prediction
Note – All these predictions are from a personal point of view. A difference of opinion is bound to happen. This article doesn’t guarantee any price movement. We don’t take any responsibility for any kind of profit or loss and don’t give any kind of investment tips. Invest at your own risk.
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