Litecoin also defies the debacle surrounding FTX and Sam Bankman-Fried: in anticipation of the upcoming halving, LTC was able to rise significantly, making it one of today’s top performers in the crypto markets. According to forecasts, Litecoin is also well positioned for the long term. They even see an increase of more than 1,300% coming. Should You Buy Litecoin Now?
Litecoin with strong rate: +8.2% in 24 hours
As crypto markets nibble at the bankruptcy of FTX and its founder Sam Bankman-Fried, bitcoin fork Litecoin (LTC) is climbing steadily higher as bulls propelled the coin from yesterday’s low of $58.59 as high as $63, $43, marking daily gains of 8 .2%.
Popular trader DonAlt (@CryptoDonAlt) is impressed with the Litecoin rally, writing to his more than 440,000 Twitter followers:
“LTC: Bullish Consolidation for Almost First Time Ever […]
I am in.”
Few other coins can currently match such a performance. These include Trust Wallet Token (TWT) up 7.37%, fan token Chiliz (CHZ) up 8% and Bitcoin cryptocurrency Stacks (STX) up 6.53%.
Most coins, on the other hand, fall or stand still. Many investors are wondering: What is driving Litecoin up at the moment – and could an investment be worthwhile?
Why is Litecoin pumping?
In 2023, Litecoin will experience its third halving. This means: From this event, the number of newly minted Litecoins will be reduced by 50%. Right now the LTC network is issuing an average of 12.5 Litecoins every 2.5 minutes. After the halving, there is only half: instead of 12.5 Litecoins, there are only 6.25 new Litecoins.
This so-called halving event is a historic event, it happens automatically every four years – just like with Bitcoin. With Bitcoin, we know that the cryptocurrency price is sensitive to halvings. Both before and after the last halving, the course could rise extremely. This can now also be seen with Litecoin – investors get involved in anticipation of future price increases.
Litecoin Price Forecast 2022 to 2027
The question remains: How could the Litecoin rate develop in the medium and long term? What rate do the forecasts expect?
- Despite the positive framework conditions, Walletinvestor.com is bearish on Litecoin, describing LTC as a “bad” investment. According to the 1-year forecast, Litecoin will not make significant gains: LTC will trade at $60.46 in November 2023. The 5-year forecast also does not expect any big jumps: according to the long-term forecast, LTC will only rise to $74 in 2027.
- Gov.capital is significantly more bullish on Litecoin. The current forecast even predicts a price explosion: Litecoin will pump enormously within the next 12 months – and will reach a price of $180.90 in November 2023. This corresponds to a return of more than 200%. Not to mention the long-term forecast for Litecoin: According to it, Litecoin will reach a price of $913 within the next five years, appreciating more than 1,300%!
Litecoin alternative? RobotEra with strong presale launch
A strong 2023 is also expected for RobotEra (TARO), a new pre-sale cryptocurrency. The Metaverse Project lets players design and manage entire planets — and even earn cryptocurrency in the process.
“RobotEra offers a shared multiverse that connects to other worlds, opens theme parks, concerts, museums and more. Create, share, operate, research and trade in RobotEra with several NFT communities,” according to the project’s developers. Benefit for investors: Currently RobotEra is still in an early stage of development and is only available exclusively through the team’s website!
Here for the RobotEra Presale