Will Litecoin reach $10,000? Analysis – Katoch Tubes

Cashing in Litecoin

Cashing in Litecoin

What is Litecoin?

Litecoin is the second cryptocurrency launched in 2011. It was a fork of Bitcoin and aimed to be better than BTC by being fast & decentralized.

Face of Litecoin

Litecoin was created by ex- Google engineer Charlie Lee. For the record, he sold all of  his LTC holding in 2017.

Litecoin Specs

1. Tx Speed: 54 tps 2. Block Time: 2.5 min 3. Consensus: POW 4. Supply: 84 Million 5. Mineable: Yes

How to mine Litecoin?

LTC can be mined using ASIC miners. The network require Proof-of-work mechanism  to reward miners.  14 million LTC are left  to be mined.

Dogecoin Replicated LTC

Litecoin was a fork of Bitcoin & uses Scrypt. The same algorithm is used by DOGE. Details -

Litecoin Halving

Halving is a process of cutting down miner's reward to slow down token extraction.  LTC halving will reduce it to 6.25 from 12.5 LTC  in August 2023

Problem with LTC coin

1. POW algorithm 2. Slower than Bitcoin lightening network 3. Delisted from  Grayscale Large Cap fund 4. No development

Litecoin Competitors

Will Litecoin  reach $10,000? 

Litecoin move with the market. It has crossed $400 in the last bull run  but it won't hit $10,000. Best case scenario will  be $1000.

From $0.10 to $100K

Checkout PLC Ultima. The token which surpassed $100K in less than 6 months. Built on Litecoin tech -

Is Litecoin a  good investment?

Litecoin was a reasonable investment in 2014 but in 2022 and way forward it's losing steam. There are better projects than LTC producing high returns.

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