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Litecoin Price Prediction: Will LTC become a millionaire-maker in 2023?

Litecoin (LTC) was developed two years after Bitcoin and was long considered a significant contender to the most crucial cryptocurrency. However, it has become much quieter around the LTC in recent years. Many contemporary altcoins have taken over the market and tried to push the litcoin out of the top ten over time. However, the Bitcoin alternative has recently become increasingly popular. Can Litecoin recapture second place behind Bitcoin in a few years? Will LTC become a millionaire-maker in 2023? This article is all about Litecoin price prediction.

How has the Litecoin price moved in the last few months?

Litecoin Price Prediction

Litecoin Price Prediction: LTC/USD Weekly chart showing the price – GoCharting

Litecoin, like nearly all other cryptocurrencies, has suffered recent losses. The bear market caused the price of Litecoin to fall from $150 at the beginning of the year 2021/2022 to just $70 at the beginning of the year 2022/2023. As a result, Litecoin’s losses were slightly more than half of those of many other cryptocurrencies.

The losses were especially bad in the first half of the year. We even saw a slight increase in Litecoin over several months in the second half of the year. This was not observed with nearly all other coins. This also returned LTC to the top 15 cryptocurrencies in terms of market capitalization.

Why might many altcoins fail in the coming years?

The first big altcoin hype occurred between 2016 and 2018. At the time, Ethereum had risen to second place in the market, trailing only Bitcoin. New projects such as Cardano, XRP, and IOTA have received a lot of attention. Some of these projects are still considered to be among the top cryptocurrencies today. However, the altcoin market may experience a significant drop in the coming years.

Litecoin Price Prediction: What distinguishes Litecoin from other altcoins?