The price per Litecoin, like all cryptocurrencies, is determined by supply and demand. As cryptocurrencies are decentralised currencies, neither states nor financial institutions directly influence their prices. However, political, economic and social developments can.
Litecoin is currently among the top 20 cryptocurrencies by market capitalisation.
Price history of Litecoin (LTC)
Shortly after its release, the price of Litecoin climbed to 0.30 USD per coin. By November 2013, it had peaked at 50 USD. However, by March 2017, the price had dropped to around 4 USD.
During the crypto hype in 2017, Litecoin's price surged to an all-time high of 360 USD. The price corrected in the following years, but during the bull market of 2021, Litecoin reached its highest price to date of around 410 USD. In 2022, in the crypto winter or bear market, the price fell below 50 USD. In 2023, Litecoin briefly surpassed the 100 USD mark. Many experts predict further price gains in the future.
Major price milestones include:
2011: 0.3 USD
November 2013: 50 USD
June 2014: 10 USD
March 2017: 4 USD
December 2017: 360 USD
December 2018: 25 USD
November 2020: 55 USD
May 2021: 410 USD
January 2022: 150 USD
2022: 50 USD
2023: 100 USD
The launch of Litecoin
Shortly after its release in 2011, the Litecoin price chart climbed to around 0.3 USD per coin. During the first major crypto hype in 2013, the Litecoin price increased significantly, reaching a peak of around 50 USD. After a price correction, the Litecoin chart experienced various price fluctuations in the following years.
The Litecoin price in the 2017 crypto hype
In 2017, the crypto scene and Litecoin experienced a strong price surge. Increasing media interest led the LTC price to an all-time high of around 360 USD.
It is now suspected that the hype was a targeted market manipulation. With the price correction, the Litecoin price fell again in the following years, dropping below 25 USD in December 2018.
The Litecoin price in the 2021 bull market
In the years following the hype, the price of most cryptocurrencies recovered and experienced steady increases. 2021 saw a bull market for digital assets, fueled by increased interest from major companies in crypto and expanding use cases. PayPal announced its acceptance of cryptocurrency payments, while blockchain technologies gained popularity as payment methods. Tesla also made substantial investments in Bitcoin and other cryptocurrencies.
Capitalising on these market conditions, Litecoin reached its all-time high in May 2021, peaking at around 410 USD per LTC coin.
Regulatory plans, inflation and geopolitical uncertainty
After the positive LTC price trends of 2021, a strong correction phase followed for many crypto prices and the Litecoin price fell below 50 USD in 2022.
The war in Ukraine, rising inflation rates and state plans to regulate cryptocurrencies unsettled investors, leading to a significant drop in demand. The FTX crypto platform collapse and the crash of the Terra blockchain also affected confidence in cryptocurrency.
In anticipation of a declining inflation rate and increasing economic and political stability, the charts of many assets, including the Litecoin price, began to recover at the end of 2022 and the beginning of 2023. In January 2023, Litecoin price temporarily reached 100 USD.
Litecoin price forecast
Litecoin ranks in the top 20 cryptocurrencies by market capitalisation. Its price often benefits from Bitcoin's gains due to their similarities, however, Litecoin has the advantage of processing transactions faster. The Proof of Work validation process and increasing energy costs may reduce the attractiveness of blockchain mining in the long run, potentially raising transaction costs and dissuading investors.
Despite this, experts see further growth in the Litecoin price as likely due to Litecoin's established position and popularity among investors. Investors should know that past price developments and forecasts cannot indicate future value trends.
