Despite an impressive rally to the $140 range earlier this month, top cryptocurrency Litecoin (LTC-USD) has since seen volatility materialize to the downside. Currently, this token is down more than 6% today, as the broader crypto market sells off alongside risk equities. For many investors, expectations of where the expert Litecoin price predictions suggest this token could go from here now matter more than ever.
Source: Wit Olszewski / Shutterstock.com
One of the oldest cryptocurrencies, Litecoin is a project that launched in 2011. Alongside Bitcoin (BTC-USD) and other proof-of-work networks, Litecoin’s consensus mechanism is run by “miners.” These miners solve complex mathematical problems to validate and secure the blockchain.
Given the various environmental concerns around crypto mining, Litecoin is a token that’s lost its top-10 status already. Now, LTC is on the precipice of the top-20 cryptocurrencies by market capitalization.
So, will this token soar from here? Or are investors wanting newer, more exciting projects? Let’s see what the experts think right now.
Litecoin Price Predictions
For reference, LTC currently trades at $120 per token, at the time of writing.
- Wallet Investor forecasts LTC could hit $188.32 in one year and $434.05 in five years.
- DigitalCoinPrice provides one-year, three-year and five-year price targets of $200.61, $228.15 and $298.20, respectively, for LTC.
- CryptoNewsZ suggests LTC could hit $350 in 2023 and $500 in 2025.
- Finally, Crowd Wisdom provides average LTC target price ranges for 2023 and 2030 of $276 and $1,860, respectively.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.