Only 10 years ago, no one knew what a blockchain was. Today, there are hundreds of well-established and emerging cryptocurrencies using blockchain technology to supplant traditional fiat money and change the way we live.
Litecoin (LTC) has drawn a lot of investor interest after hitting the headlines in December 2017. Then, the cryptocurrency reached its record high of $375, an 8,200 per cent increase year-on-year, hitting a total LTC market cap of $19.5 billion.
However, following the latest crypto market news where prices have fallen across the board, many now wonder: will Litecoin go up once again? Can it fully recover and set some new records after the bumpy ride of the second half of 2019?
While this year is about to come to an end, closing the first decade of crypto’s existence, analysts are split in their Litecoin price predictions. Some experts say that its current all-time high could be just a drop in the bucket and predict the coin to hit an overwhelming $595 by 2030. Others take a bearish stance, believing that another crypto winter is yet to come, with Litecoin future price dropping as low as $1.5 by the end of 2024.
So, if you are wondering, “should I invest in Litecoin or not?” we have you covered. In this article, we try to find the truth by taking a closer look at what factors influence this cryptocurrency, reviewing its recent performance, analysing the latest developments and checking out the Litecoin price prediction for 2020 and beyond.
The very basics: what is Litecoin?
Before we delve deep into the Litecoin price predictions, let’s do a quick review on what LTC is.
On October 7, 2011, Litecoin (LTC) was created by Charlie Lee, an ex-Google employee and former Engineering Director at Coinbase. Designed as a peer-to-peer network with the same-name native cryptocurrency, it was launched to complement Bitcoin by solving issues like concentrated mining pools and transaction timings, as well as to make the crypto world more…