Less than 24 hours after an altcoin rally drove the valuation of the entire cryptocurrency market above $ 2 trillion, a 15% jump this morning made investors rethink their brand Litecoin (CCC:LTC-USD) Price predictions.
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The increase was led by Bitcoin (CCC:BTC), which has now had its own market capitalization of over USD 1 trillion for a week. According to Reuters, market cap can be maintained as long as the largest crypto is over $ 53,000. Now including alternative cryptocurrencies ether (CCC:ETH-USD), Ripple (CCC-XRP-USD) and Cardano (CCC:ADA-USD) recorded a double-digit increase in value on the last day.
When the crypto sector was still in its infancy, Litecoin was the Bitcoin alternative. As it is today, the LTC token has been a wild proposition that has often fluctuated between valuation extremes. Of course, with the Original No. 2, which has a three-digit price tag, LTC isn’t quite as unpredictable as if the coin were available for pennies on the penny.
With new cryptocurrencies appreciating, it’s worth taking a look at what some cognoscenti are writing about Litecoin price predictions.
Swiss ETP strengthens Litecoin (LTC) price predictions
It’s worth noting that today, with the overall altcoin market rising, LTC has received a boost from the wealth manager CoinShares with the launch of a new Litecoin (LTC) exchange-traded product (ETP) at the SIX Swiss Exchange.
According to an announcement on Tuesday, each unit of the ETP with a base fee of 1.5% per year will be covered at 0.20 LTC. This is just the latest from CoinShares after this year’s intros of Bitcoin and Ethereum ETPs.
Meanwhile, the Crypto Research Report Group is calling for Litecoin to hit $ 1,200 by 2025 and $ 2,250 by 2030, Prime XBT reported yesterday. The website also highlighted a Litecoin price prediction from Crypto Capital Venture founder Dan Gambardello, who sees a consolidation of LTC “at around $ 70 before” [a] In the long term a massive increase to over USD 1,000. “
Coinpedia predicted last week that “crypto is expected to hit up to $ 800 by the end of 2022”. Elsewhere, Capital.com took a look at LTC’s technicals and suggested that prices “are nearing the level of support that makes up the uptrend channel and could see technical setbacks in that direction”.
At the time of publication, Robert Lakin held positions (neither directly nor indirectly) in the securities identified in this article.
InvestorPlace employee Robert Lakin is a seasoned finance writer and editor who follows fintech, agtech, and property tech startups.