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Despite being dubbed “digital silver,” Litecoin’s price has remained stable over the past year. The price of altcoins experienced a surge In 2023, the cryptocurrency underwent a halving but has since failed to maintain this upward momentum and has failed to reach the triple-digit level. However, as of now, it seems that the trend might finally be changing for the Litecoin price as a notable prediction from one analyst suggests that a rally could send the price to a new all-time high.
Litecoin price will reach $7000
According to a cryptocurrency analyst from Platform x (formerly twitter), the price of Litecoin will surpass all large-cap cryptocurrencies on the market. x.com/NumberOfWealth/status/1830615314423521724″ rel=”nofollow”>analysis focused on the long-term growth of Litecoin, which could see it outperform bitcoin and ethereum.
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The graph shows that the crypto/” rel=”nofollow”>LTC Litecoin price is still below $70, which is an 84% drop from its all-time high price of $412. However, all is not lost as the cryptocurrency analyst believes there is still more to come for the altcoin. Not only does the analyst believe that Litecoin price will eventually cross the triple-digit level once again, but he also believes that quadruple digits are on the cards for the altcoin.
Targets for Litecoin price include an initial surge that takes it above $100. From there, the cryptocurrency analyst expects the rally to continue. An eventual break above the $1,000 level is anticipated, which would mean a price increase of around 1,600% from here. However, it doesn’t end there. The cryptocurrency analyst expects the price to eventually reach $7,000. Now, if this were to materialize, it would mean a price increase of over 11,000% from the current price level.
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As for the timeframe in which this is expected to happen, the cryptocurrency analyst seems to expect it to happen before 2026. This would put it in the expected bull run of 2025, where bitcoin is expected to reach new all-time highs. But an 11,000% increase could easily make it The price of Litecoin the best performer among the top 20 cryptocurrencies by market cap.
“Hate it or not, in my opinion Litecoin will outperform all large cap cryptocurrencies. See you at $7000,” the post read.
On its own, Litecoin’s price hasn’t been very impressive. According to data from Coinmarketcap, the price has risen by just 1.42% over the past year, showing slow movement. Momentum has also been declining rapidly, with total open interest remaining below $300 million for more than two months straight.
Featured image created with Dall.E, chart from Tradingview.com
