Litecoin Eyes $623-$1883 Next Year
Litecoin can rise 7x - 23x in the next year or more and get to its fair value against Bitcoin. Litecoin has been in a massive uptrend since bottoming in June of 2022 both against the dollar and Bitcoin.
The Litecoin network models compared to Bitcoin give values of $623 - $1883, at Today's Bitcoin price. This doesn't factor in an increase in Bitcoin's price that can happen next year also. If Bitcoin doubles next year these values would also likely double putting fair value near $1246 - $3,766. These models target Litecoins market cap to be 14% to 43% of Bitcoin's market cap which doesn't seem unreasonable at all for Litecoin.
Litecoin continues to outperform other cryptos and keeps climbing up the list of cryptos ranked by market cap. Litecoin is now #12 on coinmarketcap.com.
Many people are asking why this is happening and what could cause Litecoin's price to increase so much in a short amount of time. Here are some possible explanations:
MoneyGram adds Litecoin.
Michael Saylor now says Litecoin is likely a digital commodity.
Litecoin's 3rd halving is next year in August.
Potential regulations only allowing the listing of digital commodities
Litecoin is just simply undervalued
It's likely all of the above and more of course. Litecoin is usually 1 of 3 shown on price tickers on Fox, CNBC etc. Litecoin is included on the most popular payment apps such as PayPal, and Venmo. It is also on every exchange, ATMs so its accessibility is global.
Well, it's easy to see that the value of Litecoin when it comes to the adoption of total addresses, new addressed, transaction counts, and transaction volumes are all increasing compared to Bitcoin.
For those who don't know Litecoin is a source code copy of Bitcoin running a different mining algorithm that uses a completely different mining infrastructure that doesn't compete with Bitcoin's. This makes Litecoin a redundant system to Bitcoin and ideal for our future financial system to be built on two dominant networks.
Furthermore, Dogecoin is merge mined with Litecoin meaning miners can earn both cryptocurrencies and share the same mining security. Elon has already stated that he plans on adding crypto to Twitter, so it seems logical that Litecoin would also be added.
So let's look at these values for litecoin. To the untrained eye seeing Litecoin get to 1k+ next year might seem impossible. However, if we look at the data, the network data to be exact we can see that Litecoin is increasing in network usage, adoption, and utility against Bitcoin.
The following charts show Litecoins price in dollars against the network value models and price in bitcoin against the network value models. We can see that there is a divergence from these values as the price has lagged. Leaving a large potential opportunity for litecoin holders.
Now we look at the average of the network value models. This gives a similar divergence from litecoin's price against bitcoin compared to its network value.
Today, these models show the opportunity that litecoin investors can look forward to potentially in the future.
Disclosure: Please note that nothing on this page constitutes, or is meant to constitute, financial advice of any kind we are not responsible for any loss that you suffer as a result of any financial transaction, regardless of whether or not you enter such transaction based in any way upon anything you learn from this page. If you require advice in relation to any financial matter, you should consult an appropriate professional. Writers on this site own Litecoin and therefore have a bias to write pro-litecoin articles.
©2022 by lookintolitecoin