LTC Price Poised for Surge? Litecoin’s Long-Term Holders Eye $200 Amid Bullish Indicators
- Historical trends among Litecoin long-term holders are playing out, suggesting a possible LTC surge.
- Litecoin ETF buzz is shaping sentiment and might further boost the coin’s appeal.
Amid bullish indicators, long-term Litecoin (LTC) holders anticipate the cryptocurrency to break through $200. Analysts have highlighted current trends in holder behavior, which depict similar patterns in previous years when LTC surged.
Long-Term LTC Holders Shows Resilience
According to IntoTheBlock, Long-Term Holders (LTHs), accounting for 78% of Litecoin addresses, have held their LTC coins for over a year. These investors usually accumulate during bear markets and sell as prices peak.
78% of Litecoin addresses have held their $LTC for over a year, typically accumulating during bear markets and selling near peak prices.
In this cycle, the slight decrease in long-term holdings is less marked than in past cycles, indicating that many holders are expecting… pic.twitter.com/nB7YuoYEKv
— IntoTheBlock (@intotheblock) December 19, 2024
However, IntoTheBlock revealed that LTC long-term holders are showing a different trend in the current market cycle. The trend indicated a minor reduction in holdings, which was less pronounced than in past cycles.
This milder decline indicated that many investors remained optimistic for a further surge. Rather than exiting at current levels, the LTHs appeared to anticipate higher future valuations.
Meanwhile, LTC is currently seeing intense price fluctuations, with the ‘Cruisers’ and ‘Traders’ categories experiencing more volatility shifts. As of this writing, Litecoin’s price has been trading at $93.94, down 13.9% in the last 24 hours.
[mcrypto id=”435419″]
The ongoing LTC volatility reflects short-term trading behaviors in response to market conditions. Thus, the sentiment among the Litecoin LTH to hold out for larger profits despite the market’s volatility suggests a strong belief in its long-term value proposition. Meanwhile, LTC LTH’s latest 2024 data mirrors the 2020 post-election pattern.
Both eras began with notable price volatility before and soon after the U.S. elections, marked by price increases.
Litecoin’s price rallied from around $60 in late 2020 to a peak above $160 in early 2021. Notably, the pattern in the fourth quarter of 2024 showed similarities with the price rapidly ascending post-election, indicating potential for further spikes.
In the past, post-election gains were transferred into the new year. If this pattern holds this year, Litecoin could potentially breach the $200 threshold by early 2025.
Currently, the Litecoin chart shows strong buy signals and increased trading volume, similar to 2020. This move indicates Litecoin’s cyclical nature and the influence of broader market sentiments amplified during election periods. As mentioned in a CNF report , market analysts CauseWereCrypto predicted that LTC could reach $150 soon.
The Litecoin ETF Buzz
The expectations for the launch of a Litecoin Exchange-Traded Fund (ETF) gained prominence following Canary Capital Funds filing.
According to a CNF report , Canary Capital submitted an s-1 to the US Securities and Exchange Commission (SEC) for a Litecoin ETF in October. This action is consistent with LTC’s positioning as the cryptocurrency industry’s “Digital Silver.”
Litecoin is renowned for its “perfect distribution,” which reduces the possibility of market manipulation.
Additionally, LTC has a supportive community, which ensures stability in holdings and resistance against selling at lower prices. All of these factors support the notion that LTC might become a preferred option for an ETF.
Recommended for you:
- Buy Litecoin Guide
- Litecoin Wallet Tutorial
- Check 24-hour Litecoin Price
- More Litecoin News
- What is Litecoin?
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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