• Latest
  • Trending
  • All
Litecoin Price Prediction as Litecoin Halving Countdown Begins – Can LTC Reach $1,000 in 2023?

Litecoin Price Prediction as Litecoin Halving Countdown Begins – Can LTC Reach $1,000 in 2023?

May 16, 2023
Connected products at the edge

Connected products at the edge

June 1, 2023
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023
Bitcoin logs monthly loss, Ether drops, U.S. equities slide

Bitcoin logs monthly loss, Ether drops, U.S. equities slide

June 1, 2023
Hong Kong Has Ambitions to Build Crypto Hub But Hasn’t Landed Big Commitments

Hong Kong Has Ambitions to Build Crypto Hub But Hasn’t Landed Big Commitments

June 1, 2023
No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

June 1, 2023
Blockchain Analytics Firm Nansen Cuts Workforce by 30%

Blockchain Analytics Firm Nansen Cuts Workforce by 30%

June 1, 2023
Fancy Crypto – Cryptocurrency Mining Platform Now Gives Users 7 Different Ways To Start Mining Crypto…

Fancy Crypto – Cryptocurrency Mining Platform Now Gives Users 7 Different Ways To Start Mining Crypto…

May 31, 2023
Binance Coin (BNB) and Dogecoin (DOGE) Charts Show Red; Investors Looking To Buy into Uwerx (WERX) Early

Binance Coin (BNB) and Dogecoin (DOGE) Charts Show Red; Investors Looking To Buy into Uwerx (WERX) Early

May 31, 2023
An update on Devcon 6, and something new…

An update on Devcon 6, and something new…

May 31, 2023
Crypto Trio Shaking The Market: Polkadot, Litecoin, And Caged Beasts Rally For Success

Crypto Trio Shaking The Market: Polkadot, Litecoin, And Caged Beasts Rally For Success

May 31, 2023
Thursday, June 1, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Litecoin

Litecoin Price Prediction as Litecoin Halving Countdown Begins – Can LTC Reach $1,000 in 2023?

by Cuevas Antonio
May 16, 2023
in Litecoin
0
Litecoin Price Prediction as Litecoin Halving Countdown Begins – Can LTC Reach $1,000 in 2023?
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Litecoin. Supply: Adobe

The value of Litecoin (LTC), the cryptocurrency that powers the payments-focused layer-1 Litecoin blockchain protocol, has been surging in the previous few days, regardless of consolidation seen within the broader crypto market.

As such, price predictions are upbeat. 

LTC/USD was final altering arms slightly below $90 per token, up one other 3.5% on Tuesday and taking the cryptocurrency’s three-day run of good points to almost 12%.

Merchants have been attributing a mix of technical shopping for, with LTC having lately discovered robust help at a long-term uptrend and optimism concerning the upcoming Litecoin halving on the twond of August as potential catalysts behind the cryptocurrency’s ongoing outperformance versus the broader market.

Litecoin lately bounced from an uptrend that has been in play since final November, and has additionally recovered strongly again to the north of its 200-Day Shifting Common.

The halving, in the meantime, will see the Litecoin price at which Litecoin is issued to miners halved, which can scale back the cryptocurrency’s inflation price.

Many analysts suspect a decrease inflation price ought to have a optimistic long-term worth impression.

Whereas Bitcoin halvings have traditionally coincided with bull markets, the linkage between Litecoin halvings and robust worth efficiency has been considerably weaker.

However nonetheless, only a few would argue that the upcoming Litecoin halving is a bearish occasion for the LTC worth.

The Litecoin halving will gradual issuance from 12.5 LTC per block to six.25 per block.

Litecoin Worth Prediction – The place Subsequent for the LTC Worth?

If Litecoin can muster a sustained push to the north of the $90 degree and its 50 and 100DMAs, each of that are near $90, that ought to open the door to a retest of annual highs within the $103-105 space.

That would imply pretty fast and straightforward good points of round 15% from present ranges.

After all, if the broader crypto market continues to stay sluggish, with Bitcoin and Ether locked inside latest ranges, this might act as a headwind for the LTC worth within the close to time period.

Within the absence of a resumption of the broader markets rally, it is likely to be a bit optimistic to guess on a giant near-term breakout for Litecoin into the mid-$100s.

Can LTC Hit $1,000 in 2023?

With cryptocurrency markets seemingly having entered the early levels of a brand new bull market, traders are serious about what upside worth ranges they need to be concentrating on for the years forward.

Some Litecoin bulls is likely to be hoping for the cryptocurrency to hitch the $1,000 per token or above membership in 2023 – in the meanwhile, solely two cryptocurrencies are on this unique membership, Bitcoin and Ether.

Nevertheless, that may require Litecoin to 10x from present ranges within the area of solely round seven and a half months.

That shouldn’t be dominated out as inconceivable.

Between November 2020 and Could 2021, Litecoin posted close to 8x good points to leap from round $55 to above $410 per token.

However that coincided with a large run-up in broader crypto costs, pushed by zero rates of interest, huge fiscal stimulus and a speedy reopening-fuelled financial rebound, in addition to a sudden surge in institutional curiosity into crypto as an asset class.

Whereas it may be strongly argued that the development in direction of larger societal and institutional investor adoption of crypto expertise and crypto as an asset class has continued, these different financial circumstances possible received’t be in play for 2023.

Sure, the Fed is more likely to pause its rate of interest hikes and should do some price reducing this yr, that means macro ought to not be the large headwind that it was in 2022 when the Fed was aggressively mountaineering rates of interest to get inflation beneath management.

However Litecoin bulls ought to mood their optimism about hitting $1,000 this yr.

However Litecoin Nonetheless Set Up For a Good 12 months

That’s to not say the cryptocurrency can’t nonetheless carry out properly this yr.

This yr’s extra dovish Fed needs to be a tailwind for Litecoin and different cryptocurrencies, barring any additional main inflationary shocks.

And if the continuing financial institution disaster worsens, the demand for arduous cash alternate options like gold and Bitcoin will develop.

Litecoin doesn’t seize the general public’s creativeness in fairly the identical means as Bitcoin in its place type of cash simply but, nevertheless it ought to – it’s a extremely decentralized, strong and censorship-resistant fee community similar to Bitcoin and really scales exponentially higher to be used as a foreign money in on a regular basis funds.

Certainly, in accordance with a latest tweet by the official Litecoin Twitter account, the cryptocurrency can already be utilized in funds throughout numerous main platforms.

With a surge in meme coin-related exercise on the Ethereum and Bitcoin blockchains having resulted in a giant spike in transaction charges on each, the Litecoin use case is additional boosted.

Certainly, Litecoin’s median transaction charge is a stunningly low $0.001, regardless of transactions on the blockchain lately exceeding Bitcoin.

In the meantime, simply as the brand new BRC-20 token commonplace has arrived to the Bitcoin blockchain, basically reworking right into a smart-chain, LRC-20 has simply arrived on Litecoin and is being developed on high of the Litecoin Ordinals protocol.

All the above, plus Litecoin’s latest partnership with Mastercard that’s anticipated to spice up adoption and the upcoming halving occasion of 2023 means that Litecoin has a robust outlook for the upcoming crypto bull market.

Buy Crypto Now





Source link

Tags: BeginsCountdownHalvingLitecoinLTCPredictionPriceReach
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
What is Cloud Mining and How Does it Work?

What is Cloud Mining and How Does it Work?

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Connected products at the edge

Connected products at the edge

June 1, 2023
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023

Recent News

Connected products at the edge

Connected products at the edge

June 1, 2023
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Economy
  • Education
  • Ethereum
  • Featured
  • Governance
  • Litecoin
  • Market
  • News
  • Uncategorized

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved