Litecoin (LTC) +$200 Before 2025?

Are you thinking about investing in Litecoin (LTC) cryptocurrency?

A recent market analysis projects that LTC has a potentially promising future this year, fueled by rising demand among mainstream investors.

This guide will help you understand where the price of LTC will go this year.

Litecoin price forecast                                              

Litecoin (LTC) has indicated an impressive performance over the year’s first quarter, reaching more than 30 million transactions by March 30. Last year, the token achieved this milestone around July when the crypto traded at around $113.

Today at 11.11 AM East Africa Time, April 2, Litecoin is trading at $100.22, down 6.54% in the last 24 hours. With a market cap of 7.46 billion, LTC is ranked the 19th largest cryptocurrency, according to Coinmarketcap market aggregator.

The crypto has been up 9.06% over the last year. Currently, LTC price prediction is bullish, with the Fear and Greed index showing 79 (extreme greed), according to Coincodex data analyst.

LTC reached its highest price on May 10, 2021, when it traded at its all-time high of $410.76. On the other hand, the crypto recorded its lowest price of $1.114 on January 14, 2015.

The year 2024 has been a mixed bag for Litecoin’s fortune. The LTC price displayed a bearish action at the beginning of January for several days. However, after a period of consolidation, LTC jumped its value and remained bullish.

With Litecoin now surpassing the $100 psychological mark, it aims for higher levels this new month of April. According to Coinpedia market analyst, if LTC’s recovery rally moves beyond $117, the altcoin value will likely reach the 200 EMA when the token was traded at $147 on August 15, 2018. However, a reversal is imminent, thus likely to bottom its value at $86 this month.

With greater adoption, projected network growth, and the bullish support expected from the Bitcoin halving, the Litecoin price is likely to rise immensely this year. Coinpedia believes that LTC could jump to a high of $187.27 by mid this year. However, market exhaustion during the year’s second half could see LTC drop its price to around $113.61. Despite the potential downturn in the Litecoin market, Coinpedia anticipates the token’s price to be around $150.44 by the end of the year.

Litecoin classified as a commodity

Several factors are contributing to Litecoin being on the edge of a significant breakthrough this season. One of them was a recent CFTC ruling that declared Litecoin as a commodity, which gave a massive endorsement of the token.

Last week, the US Commodity Futures Trading Commission (CFTC) classified Litecoin as a commodity alongside Bitcoin and Ethereum, a ruling that saw Litecoin surge its price by 20% and reach $110.

Declaring Litecoin as a commodity is a significant move that puts the crypto outside the jurisdiction of the SEC, which oversees the issuance and sale of securities, including cryptocurrencies that meet the definition of securities.

Being considered a commodity makes Litecoin less likely to come under the regulatory supervision of the US Securities and Exchange Commission (SEC), which has sought to treat cryptocurrencies the same as stocks.

Litecoin is $101.03, gaining +25% in the last 30 days.

Spot Litecoin ETF

Rumors rumors concerning a potential spot Litecoin Exchange-Traded Fund (ETF) have also fueled a massive price uptick, with LTC gaining over 20% amid speculation of potential institutional interest in spot Litecoin ETF.

After the CTFC labeled Litecoin as a commodity, investors are now asking for the launch of a Spot Litecoin ETF. The positive ruling triggered rumors that the SEC is more likely to approve trading of a spot Litecoin ETF if filed.

With rising institutional interests in a spot LTC ETF, some market observers believe that the SEC might be more receptive and even approve a spot Litecoin ETF because Litecoin shares technical similarities with Bitcoin.

What is Litecoin?

Litecoin, a cryptocurrency that aims to be cheaper and faster than Bitcoin, shares features with BTC but runs on a different proof-of-work blockchain network.

Litecoin is a virtual currency that can be used for peer-to-peer transactions. Users can receive and send the token as a medium of exchange. Users can buy Litecoin on over 118 cryptocurrency exchanges, including Binance, KuCoin, and others.

Some users mine Litecoin to make a profit. Mining Litecoin can be lucrative if done correctly and using the right setup devices.

Litecoin on-chain atomic swaps allow customers to exchange LTC directly with other digital currencies, eliminating the need for a centralized intermediary like traditional crypto exchanges.

Litecoin has its Lightning Network, which allows users to conduct faster and cheaper transactions off-chain.

Litecoin also has several features like cross-border payments, smart contracts, and a store of value. Many use cases may evolve as the crypto landscape continues developing.

Conclusion

Litecoin has gained a lot of attention. It can be an excellent crypto investment, but before investing, users must have a good understanding of what it is and how it works.