🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Why Observers Predict Litecoin (LTC), Ethereum (ETH), And Dogecoin (DOGE) Will Skyrocket In The Near Future

Published 11/17/2021, 04:52 AM
Updated 11/17/2021, 05:00 AM
Why Observers Predict Litecoin (LTC), Ethereum (ETH), And Dogecoin (DOGE) Will Skyrocket In The Near Future

As recently reported on Voi.id, observers from Finder.com predict the price of the number of cryptocurrencies will increase soon, including Dogecoin (DOGE), Litecoin (LTC), and Ethereum (ETH). Reporting from Bitcoin.com News, observers say that the price of the cryptocurrency Dogecoin is predicted to break the US $1.21 (around IDR 17,448) in 2025. Meanwhile, Litecoin’s price is predicted to reach US $266 (around IDR 3,835.746) by the end of this year. While Ethereum is expected to reach US $4.5 thousand (equivalent to IDR 64 million) by the end of 2021.

Litecoin is predicted to rise to IDR 3 million. In addition, Konstantin Boyko-Romanovsky who is the CEO of Allnodes said that Litecoin could reach US $ 180 (IDR 2.5 million) by the end of 2021, and by 2025 LTC is predicted to reach US $ 300 (around IDR 4.3 million).

"The price of Litecoin doesn't seem to necessarily correlate with the price of Bitcoin, which is very interesting to observe. However, it becomes more difficult to predict the price of LTC 10 years into the future", said Konstantin. In addition, as many as 15 percent of other Finder panelists estimate Litecoin can penetrate the top 10 cryptocurrencies based on market capitalization. Trade the Chain co-founder Ryan Gorman mentioned that Litecoin is in a bullish trend.

"People who are new to (the crypto world) will continue to trade Litecoin because it has always been one of the first crypto assets to be added to new lines like Paypal, Venmo, etc. That innate support will help him continue to score even if it's largely irrelevant", Gorman said.

Active companies with recent developments in the industry include: Hello Pal International Inc. (OTCQB: HLLPF) (CSE: HP (NYSE:HPQ)), Bitfarms Ltd. (NASDAQ: BITF) (TSXV: BITF), Marathon Digital Holdings, Inc. (NASDAQ: MARA), Riot Blockchain, Inc. (NASDAQ: NASDAQ:RIOT), TheOLB Group, Inc. (NASDAQ: OLB).

Another report on Voi.id added that he results of a survey conducted by deVere, an international consulting firm, revealed that millennials and Gen Z prefer to receive their salaries in crypto. The CEO of deVere, Nigel Green explained that the younger generation finds crypto assets more attractive because it is part of the technological developments that have taken place since they were children. In addition, they are also affected by the massive innovations that occur throughout their lives. Therefore they better understand the huge potential of cryptocurrencies for the future. Green also stated that Millennials and Generation Z prefer to support digital currencies and autonomous decentralized payment networks over traditional financial systems controlled by monetary institutions and governments.

"They clearly believe that crypto is the inevitable future of money," said Green.

Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) BREAKING NEWS: Hello Pal Completes Full Upgrade to L7 Miners for LTC and DOGE Mining – New Miners to Arrive in New York State Location Via Air Freight – Hello Pal International Inc., a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it has purchased a further 170 L7 miners from the proceeds of the sale of its L3+ model, bringing the total number of L7s to 270 which includes the 100 Antminer L7s announced last month (see October 7 press release). The Company is in the process of acquiring more.

The remaining Antminer L3+ miners, held by the Company’s subsidiary (CPal Technology Limited) have been sold for a total consideration of USDT 3.75 million (approximately CAD 4.7 million), which represents a 100% profit compared to the effective purchase price in June of this year. The sale of the L3+ miners and purchase of L7 miners effectively means that the Company’s Litecoin/Dogecoin mining rigs have been completely upgraded to the latest Litecoin/Dogecoin miners to be released by Bitmain.

Bitmain’s L7 miners are highly sought after and extremely difficult to acquire. Hello Pal’s current understanding is that less than 2500 L7 miners are being produced, with no further production planned by Bitmain in the foreseeable future. The L7 model has a hashrate of 9500 MH/s, which is 19 times more powerful than that of the previous L3+ model. They consume substantially less power and have a stability rate of 98 percent in comparison to the previous stability rate of 70% improving overall profit margins considerably.

The new machines are expected to be delivered in December 2021, upon which they will be delivered by airfreight directly to New York State, where the Company’s new mining facilities are located and announced earlier this month (see November 10 press release).

"We are fortunate to have this opportunity to upgrade all our mining rigs to the latest and greatest Antminer model," said KL Wong, Founder and Chairman of the Company.

"We remain very bullish regarding the future of cryptocurrency and Litecoin and Dogecoin in particular, and look forward to continuing with our plans to integrate cryptocurrency into our product offerings."

Information provided by FinancialNewsMedia.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.