Litecoin may recover from its brutal 2022 crash again in 2023 if LTC follows its historical halving pump just like the past 2 LTC halving events.
While many crypto investors believe Litecoin is dead, I strongly disagree and remain bullish on the world’s second-oldest cryptocurrency.
Will Litecoin Recover?
According to Cointelegraph, Litecoin could soar as high as $250 before LTC’s 3rd halving event in August 2023. This is purely based on LTC’s movement just before its last 2 halving in 2015 and 2019. There is also a lot of hype surrounding Litecoin ever since Moneygram added LTC to its app along with Bitcoin and Ether.
Litecoin doesn’t get nearly as much attention as Bitcoin but serves as a secondary option for crypto investors. I consider Litecoin “as a checking account” that can be used for payments. You probably don’t want to use your Bitcoin to pay for things like food, rent, and transportation. That’s because BTC is rare and scarce.
However, Litecoin has 4x the total supply as Bitcoin so it’s a better option for buying things due to its higher supply. Litecoin could be considered “as digital silver” if compared to traditional commodities.