Another reason for the growth is limited emissions, with 17 million LTC of 21 million produced. The development is facilitated by a strong development team.Litecoin has another, simpler mining algorithm, and transactions are confirmed faster, so LTC is often called digital «silver».
The first years of its existence, the price of Litecoin did not grow much, until in 2017 there was a jump in the rate from 5 to 370$. In August 2022, the price is at $60 per coin.
There are the following forecasts for the price of Litecoin at the end of the year:
Joseph Young $1640;
Charlie Lee $500.
Nobody knows whether the digital «silver» will grow, but the price will depend on the growth of Bitcoin and the state of the world economy. In any case, find a place for Litecoin in the portfolio you need. Do not give in to emotions in periods of volatility, and success will be assured to you.