LITECOIN (LTC) PRICE PREDICTION Benzinga Money

is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more. JOE DEWITT Contributor, Benzinga September 22, 2021 Decided you want in on the action? You can buy LTC on Coinbase, Robinhood and Crypto.com. coin-image Litecoin $160.69 BUY LITECOIN MOON BUST 6 votes Litecoin has been widely accepted as a useful asset for microtransactions, making it much easier for individuals to send payments without extremely high fees. Litecoin transactions have the ability to be 4 times faster than a Bitcoin transaction, making Litecoin a widely used cryptocurrency around the world for point-of-sale payments. Trade Cryptocurrency CFDs Trade Cryptocurrency CFDs Trade cryptocurrencies like Bitcoin, Litecoin, Ripple and Ethereum without having the burden of owning or storing them. Trading CFDs on cryptocurrencies allows for leveraged trading and higher liquidity. START TRADING Contents What is Litecoin? Litecoin Market Position Jane Kane Bull Case for Litecoin Luke Conway Bear Case for Litecoin Where to Buy Litecoin How Long Will it Take for Litecoin to Reach $300? Where to Store Litecoin Safely Best hardware wallet: Ledger Best software wallet: Coinbase Wallet Current Crypto Prices So, is Litecoin a Good Investment? What is Litecoin? Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments for microtransactions; primarily point-of-sale payments. Launched in 2011 by former Google (NASDAQ: GOOGL) employee Charlie Lee, Litecoin quickly became recognized as a useful crypto for peer-to-peer payments. Similar to Bitcoin, Litecoin was built as an open-source blockchain protocol. This means that there is no central control of the coin –– all transactions are managed by a peer-to-peer network. What makes Litecoin special is how fast payments can take with such small fees. This is because of the block verification time, the amount of time it takes to verify a transaction. The Litecoin network can confirm a block in 2.5 minutes, where Bitcoin blocks are mined about every 10 minutes. Litecoin is run by the proof-of-work (PoW) consensus mechanism, which uses computing power to verify transactions. Many new projects have been moving away from PoW and implementing proof-of-stake (PoS). This mechanism is much more environmentally friendly and allows for improved scaling. Litecoin Market Position The market cap of LTC as of September 2021 is around $10 billion with a circulating supply of 66,000,000. One Litecoin no costs about $155 一 claiming its rank as the No. 16 cryptocurrency by market cap. From the previous year’s high of $64 in September 2020, Litecoin has seen a 250% growth in value. Jane Kane Bull Case for Litecoin Jane Kane is the editor-in-chief at Liteforex, who also provides coverage on emerging crypto markets. Kane discusses an interesting point about how the Litecoin Foundation has a 9.9% share in the German WEG bank, which was given to the foundation as a donation from the Swiss blockchain company TokenPay. This means that together they have a 20% share in the conservative German bank, mainly invested in by real estate investors. Kane states that Litecoin can thus be recognized in the long term as a possible cryptocurrency for buying real estate in Germany. If this news comes to fruition –– and it’s not fake –– then LTC may see huge gains in the next 12 months. This is as long as the cryptocurrency markets remain bullish, however, as altcoins typically follow the price action of Bitcoin. Luke Conway Bear Case for Litecoin Luke Conway is a blockchain analyst and reporter who discussed the recent fake press release from Global Newswire that claimed Walmart (NYSE: WMT) had a partnership with the Litecoin Foundation. This fake press release was followed by a tweet from the official Litecoin Twitter account that was deleted just a few minutes later. This led the price of Litecoin to climb as much as 26% as news spread across social media, which then fell sharply back to the previous range. Another fake press release of this magnitude could diminish the reputation Litecoin has worked so hard to build. Where to Buy Litecoin You can buy LTC currently on Coinbase (NASDAQ: COIN) and Gemini. A centralized exchange like Coinbase or Gemini is a great way for individuals to start buying cryptocurrency on their computer or mobile device. Make sure to always do your own research before buying cryptocurrency. Coinbase EARN FREE CRYPTO securely through Coinbase’s website More Details Gemini Crypto TRY FOR FREE securely through Gemini Crypto’s website More Details Robinhood GET STARTED securely through Robinhood’s website eToro GET STARTED securely through eToro’s website More Details How Long Will it Take for Litecoin to Reach $300? To reach $300, Litecoin would have to double its market cap, which would require a continuous growth of partnerships as well as not becoming outdated by using PoW consensus. With recent market movement, we can expect some price consolidation as the price enters a previous resistance/support zone. If Litecoin continues its 250% annual increase, we could expect $300 by February 2022. Where to Store Litecoin Safely When thinking about how to store your cryptocurrency there are two paths to choose from: software wallets and hardware wallets. A software wallet is an application on your computer or mobile device. A hardware wallet is a special type of wallet that stores the user’s private keys in a secure hardware device — keeping your private key information off your computer and onto the external device. Best hardware wallet: Ledger Ledger is the most recognized and most credited hardware wallet currently available. The device is primarily an offline hardware wallet. Ledger also connects to Bluetooth and USB depending on if you want to use your computer or mobile device. Ledger’s application also makes it much easier to secure, store and manage your assets. Ledger Hardware Wallet Read Review Best For ERC-20 tokens BUY NOW Best software wallet: Coinbase Wallet Coinbase Wallet is the No. 1 mobile cryptocurrency wallet on the app store. Coinbase makes it easy for users to secure, store and manage their cryptocurrency. A software wallet like Coinbase Wallet is perfect for individuals looking to start buying and storing cryptocurrency. Bonus Section: Make sure to take into account other cryptocurrencies similar to Litecoin that implement PoS, as PoW has quickly become outdated tech. Current Crypto Prices The total market cap for all cryptocurrencies is currently just over $2 trillion. Long-term positive sentiment in the market continues as the industry continues to grow. Although short-term it did see a slight sell-off as prices struggled to stay above support. The current market structure will depend largely on if price action can hold current levels of support. coin-image Bitcoin BTC $44,120.00 4.89% Trade coin-image Ethereum ETH $3,115.35 8.87% Trade coin-image Cardano ADA $2.28 11.74% Trade coin-image Tether USDT $1.00 0.24% Trade coin-image Binance Coin BNB $379.82 7.61% Trade coin-image XRP $1.00 10.07% Trade coin-image Solana SOL $148.59 15.72% Trade coin-image Polkadot DOT $32.11 17.99% Trade coin-image USD Coin USDC $1.00 0.13% Trade coin-image Dogecoin DOGE $0.23 11.09% Trade ↓ So, is Litecoin a Good Investment? Litecoin is relatively well-established, as well as being a cryptocurrency widely accepted by different vendors and merchants around the world. If Litecoin continues to grow its partners, there will be continuous growth in the market cap — a long-term investment — making it a relatively safe buying option for investors. 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