Interest in Litecoin is growing rapidly. Today, Litecoin is known as “silver” in relation to “gold”, represented by Bitcoin, although this comparison is changing. It seems that Litecoin could be independent, as institutions and retail investors have started to see potential in it.
There are several reasons for the increase in your price. Yesterday, during a race at the Darlington Raceway in the United States, racer Landon Cassill, a cryptocurrency enthusiast, became the first driver to receive a payment entirely in cryptocurrencies, due to his victory. The payment was in Litecoin, according to the official Litecoin page at Twitter.
Second, the Litecoin cryptocurrency has reached a price of $ 231. In addition, it continues to rise, which puts its earnings in the last 7 days at approximately 38.98%. As a result, not only institutions, but also retail investors have taken an interest in Litecoin as its popularity grows.
Also, good Litecoin stats are a determining factor in themselves. The altcoin’s low volatility of 58% keeps its price safe from random fluctuations. And a high correlation to Bitcoin continues to sustain the strong value of the digital asset.
Besides this, Litecoin is also part of the accumulation trend. The old coins that are being destroyed have been scaled down as the idle seems to set in. Which makes Litecoin a preferable altcoin for large and small investors.
Litecoin will hit $ 266 by the end of 2021, according to Finder experts
The average forecast among 42 Fintech experts says that Litecoin will reach $ 266 by the end of 2021.
Product comparison site Finder has published a report, in which it interviewed 42 fintech professionals and found that the group’s average forecast is that the value of the digital asset Litecoin will exceed $ 200 by the end of 2021.
Recently, the Bitcoin News website reported Ethereum and Dogecoin price forecasts through surveys from finder.com. Finder expert panels suggest that Dogecoin prices will reach $ 1.21 by 2025 and $ 3.60 by 2030. Additionally, another report showed that experts forecast Ethereum’s value to reach $ 4,500 this year and $ 18,000 in by 2025. Page experts who spoke about Litecoin show that most panels agree that Litecoin is expected to be worth $ 266 by the end of the year.
However, since the rise of new cryptocurrencies, Litecoin has lost its place in the top ten by market capitalization. The encryption tool has been in the top ten contestants for at least a decade, but has recently been suppressed by competitors. Today, Litecoin is in the 12th position in terms of market capitalization, with a capitalization of approximately $ 15 billion USD.
Importantly, the Finder panel that discussed Litecoin’s forecasts included Sagi Bakshi, CEO of Coinmama, Thomson Reuters technologist Joseph Raczynksi, and Iwa Salami university professor at the University of East London.