The cryptocurrency markets seem to be entering a paradigm shift. The post-pandemic inflation has become one of the biggest challenges for governments around the globe. Major banks are collapsing, pushing crypto once again to the forefront of the financial world.
Bitcoin and Litecoin are the two oldest cryptocurrencies still actively traded on exchanges. Litecoin often leads the way into bull markets, although this time, it might be different. With so much uncertainty in the financial world, many are picking Bitcoin as their store of value asset.
In this article, we analyze whether an LTC to BTC exchange is the right move at this moment. To achieve this, we take a look at some fundamentals and recent news and compile pertinent price forecasts from internet analysts.
Litecoin is often considered to be Bitcoin’s little brother. Charlie Lee forked the BTC code in 2011 to create LTC, a lighter version of the original crypto, and hence created the first altcoin. The goal of Litecoin is to provide users with faster transactions and a less complex hashing algorithm for mining coins and confirming transactions.
Litecoin achieves this with shorter block times (4x shorter to be exact) and by relying on the Scrypto algorithm instead of Bitcoin’s SHA-256. To balance this faster block production, LTC has a 4x larger maximum supply, of 84 million coins.
LTC Future Value
Although many more technologically advanced cryptocurrencies have come onto the market in the last decade. LTC still has a strong community and investor following. It holds the #13 spot by market cap and is currently trading at around $90 per coin on any online cryptocurrency exchange.
We’ve selected a few price predictions from web analysts to showcase LTC’s future value. Priceprediction.net believes this coin can reach a maximum price of $132 in 2023. For the longer term, their vision is much more optimistic, with targets of $291 for 2025 and as high as $1,945 in 2030.
Digitalcoinprice.com has very similar forecasts for the first altcoin. Their prediction for 2023 reaches $194, whereas for 2025 and 2030, the targets are $322 and $926, respectively.
Satoshi Nakamoto created Bitcoin in 2009 to go against the real estate and banking crisis of 2008. He felt that financial institutions had too much power over people’s finances, so he created a decentralized money system where the user was the only custodian of their funds.
As a result, BTC created a new financial paradigm of decentralized payment systems and paved the road for the rest of the cryptocurrency industry. As the pioneering crypto asset, Bitcoin has logically remained the most popular thanks to its deflationary mechanisms.
There are only 21 million BTC that will ever come into existence, which created a forced scarcity, in contrast to traditional fiat currencies. For this reason, Bitcoin has become one of the strongest store of value assets on the globe.
BTC Future Price
With a strong anti-inflationary narrative, Bitcoin is poised to grow even more in the next years. With the fear of major banks failing and USD hyperinflation, investors are pouring record amounts of capital into BTC.
Priceprediction.net provides some eye-watering scenarios. In 2023, the website expects the BTC price to reach $34,916. However, in the long term, their forecasts are much higher, with targets of $81,436 for 2025 and an incredible $555,511 for 2030.
Digitalcoinprice.com is a bit more conservative with its long-term predictions, although its 2023 forecast is higher at $61,558. Further down the road, their analysts expect BTC to reach $101,768 in 2025 and $292,457 in 2030.
Getting Profit from LTC to BTC Exchanging
As you might have noticed, experts’ predictions for both LTC and BTC are quite similar regarding their long-term gains. However, Bitcoin has an edge in the short term and in preparation for the next bullish cycle in crypto. BTC usually leads the way for the market and makes the most gains at the beginning of the rally, making it an interesting moment to make profit from LTC to BTC exchanges.