![]() Litecoin broke the $400 barrier on 10 May and, while it dipped slightly to around $385 on 12 May, seemed fairly stable. There was a slump shortly after this, with the price of Litecoin dipping to $233.63 on 25 April, but things started to get better again. It was trading at $194.47 on 30 March, but by 16 April 2021 it was at $316.97 – an increase of nearly 63% in just under three weeks. This was the real coming out party for the cryptocurrency, and its value started to rise. On 30 March 2021, Litecoin started to be accepted on PayPal. There was still time and space for Litecoin to grow, though. It started to rally, hitting $236.68 on 19 February, but then slipped back down to $164.93 on 28 February 2021. The first few months of 2021 were even more encouraging for LTC. During November that year, LTC rose from $55 to $88 – up by around 60%. This had long served as a psychological barrier for traders, but the bull run was far from over. In keeping with other cryptocurrencies, the price of Litecoin suddenly embarked on a massive surge – managing to smash through $50. Things started to change in late October 2020. It remained a long way off the highs of $142 seen in June 2019. In June 2020, the main point of concern with LTC price predictions centred on how what was then the world’s seventh-biggest cryptocurrency was struggling to break through the $50 barrier in any meaningful way. While past performance is no indicator of future results, knowing what LTC has done in the not-so-distant past can give us some useful information if we want to either interpret or make a litecoin price prediction. Now, let’s have a look at the Litecoin price history. The whitepaper continued that the aim was to take the best innovations of Bitcoin – and a number of other currencies cited in the document – in an effort “to create a coin with all of their benefits, but nearly none of their problems”. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.” Litecoin is an open-source, global payment network that is fully decentralised without any central authorities. To quote the whitepaper: “Litecoin is a peer-to-peer internet currency that enables instant, near-zero cost payments to anyone in the world. Faster processing times can also help prevent hackers from “double-spending”, making the Litecoin system more secure, at least in theory. This, theoretically speaking, reduces the time to confirm payment from 10 minutes to around two-and-a-half minutes. The way it works is that Litecoin splits every transaction into two parts, removing the signature from the original data. Perhaps as importantly for potential investors, it is theoretically cheaper to use. ![]() Lee created a hard fork of Bitcoin and installed a new consensus mechanism, called scrypt proof-of-work, which at least in theory is significantly faster and means it uses less energy. ![]() In Lee’s opinion, the problem was that the proof-of-work (PoW) consensus mechanism used to mine BTC was too cumbersome. Lee thought that one of the problems with Bitcoin was that transactions could take longer than they should have done. Litecoin was founded in 2011 by former Google programmer Charlie Lee. We will also tell you a bit about Litecoin itself, as well as examining its recent price history. In this article, we will look at the latest Litecoin price prediction for 2022 and beyond – and examine whether any of the previous forecasts for the coin turned out to be right. Litecoin price prediction 2022: What are analysts forecasting?. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |