Despite being termed the ‘digital silver’, the Litecoin price has remained muted in the last year. The altcoin’s price saw a run-up In 2023 it will be halved. It has not been able to keep up this momentum and is still below the triple-digit mark. From this point on, however, it appears that the tide may finally be turning for the Litecoin Price, with a noteworthy prediction by an analyst suggesting that a rally might send the price up to a brand new high.
Litecoin Price To Reach $7,000
According to a cryptocurrency analyst at the X (Formerly Twitter platform), the Litecoin price is set to outperform The market cap of all large-cap cryptocurrencies. The cryptocurrency market is dominated by large-cap cryptocurrencies. analysis The focus was on Litecoin’s potential long-term growth that could surpass Bitcoin and Ethereum.
Related Reading
This chart shows the relationship between the LTC Price is currently trending at below $70. This is a 84% drop from the all-time price high of $412. The analyst is optimistic that the price of the altcoin will rise. Analysts believe that Litecoin’s price is not the only thing to watch. eventually cross the triple-digit level They also think that altcoins will soon be able to reach four-digits.
Litecoin is aiming for an initial price surge of $100. The crypto analyst believes that the price will continue to recover from there. A break-through above $1,000 is planned, which will result in a price rise of around 1,600%. It doesn’t stop there. Crypto analyst believes that the price will eventually rise to $7,000. This would represent a price rise of over 11,00% from current levels.
Related Reading
The crypto analyst expects this to occur before 2026. The expected bull run of 2025, in which Bitcoin and other cryptocurrencies are predicted to hit new record highs is when this would happen. An increase of 11,000% could make it a lot more valuable. the Litecoin price The best performing cryptocurrency out of the 20 top cryptocurrencies ranked by market capitalization.
“If you hate it or not, but IMO Litecoin will outperform all the big cap Crypto’s. See you at $7000,” Read the entire post.
It is a ownThe Litecoin price has not been very impressive. Coinmarketcap data shows that the price has only increased by 1.42% over the past year. This is a slow movement. Momentum is also declining rapidly. The total open interest remains below $300 Million for over two months.
Featured image was created using Dall.E chart, from Tradingview.com
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com