Litecoin (LTC) is the number 15 cryptocurrency, which is nothing to scoff at. That said, it’s on the downturn since its all-time high valuation just three months ago. So, is Litecoin dead? Will LTC make a full recovery in 2021? Here’s the lowdown on the health of Litecoin, plus where it might go this year and later.
Will Litecoin (LTC) recover in 2021?
Litecoin (LTC) is on the rise at the time of writing. Although the price change is small at just +0.16% in the last 24 hours, this uptick indicates that Litecoin isn’t dead in 2021.
There are no guarantees that LTC will make a full recovery, as there’s a long way to climb before matching or surpassing the crypto’s all-time high. Currently, Litecoin is falling 62% short of its $412.96 maximum valuation at a cost of $155.29 per coin. In the grand scheme of things, however, it’s worth keeping in mind that the Litecoin valuation is still strong; many cryptocurrencies and tokens can only dream of reaching a fraction of that valuation.
Due to the volatility of the cryptocurrency marketplace, it’s hard to forecast future price fluctuations with a high degree of accuracy. Peaks, troughs, and seemingly miraculous comebacks are commonplace within crypto — but then, so too are instances of coins crashing and burning. Owing to its size and market share, the latter almost certainly won’t happen to Litecoin anytime soon. Doomsayers were recently heralding the end of Dogecoin (DOGE), though, despite the falling value, experts believe there are big things in its future.
Ultimately, only time will tell if Litecoin recovers or dies. Right now it’s too early to call, so LTC definitely doesn’t need writing off at this stage in 2021.