The LTC exchange rate against the hryvnia and the dollar is influenced by the same factors as the quotes of most other cryptocurrencies. So, the price of Litecoin on the exchanges is formed under the influence of:
the ratio of supply and demand;
the level of market capitalization of the cryptocurrency;
the current situation in the crypto industry and investor sentiment;
the total number of coins in circulation;
Bitcoin prices and the dynamics of its exchange rate (Bitcoin growth has a positive effect on the cost of all altcoins);
news around the coin and prospects in the crypto market in general;
developer activities, community information, updates;
trends towards the legalization of cryptocurrencies in the world, regulation by states and financial institutions;
political and economic global context;
technical picture on the chart.
Litecoin, like most other digital coins, has virtually no intrinsic value. The rate of cryptocurrency is completely dependent on speculative factors. And this means that in order to make a forecast regarding the value of an asset, it is necessary to carry out technical analysis. This will allow not only to understand the principles of the formation of the Litecoin rate, but also to determine the direction of its price movement in the future.
LTC Price Predictions for 2022
Litecoin price predictions are based on the high popularity of the coin. Thus, according to experts, the LTC exchange rate against the hryvnia next year looks much more optimistic compared to the current year. It is predicted that since January the value of the cryptocurrency will grow, although at the moment it is not clear exactly what will cause a positive trend.
And although periods of decline for Litecoin are not ruled out in 2022, in general, positive changes in the price are expected - the year will begin for the coin at the current level, and in a couple of months the rate is expected to rise above $300 with the prospect of updating the May historical maximum. In addition, according to Litecoin’s price target and technical analysis, a record $400 threshold is expected to be crossed in 2022.
Experts predict that over the coming year, the cryptocurrency will show exceptionally positive dynamics with slow but steady growth. However, the high volatility of Litecoin makes itself felt - the range of difference between the minimum and maximum predicted indicators is more than $50.
One way or another, analysts agree that Litecoin will continue to grow next year, so investments in this cryptocurrency look quite profitable. However, it is important to understand that forecasts regarding the future rate of the coin are only speculative. The high volatility of the cryptocurrency and the unpredictability of the exchange rate make long-term forecasts uncertain.