Will Litecoin Return to $200? The 2024 Election Effect May Ignite a New Bull Market for LTC!
If you hold Litecoin (LTC), it's definitely worth paying attention now! Data shows that 78% of Litecoin addresses have held for over a year; these "veterans" are calm during the bear market, accumulating and precisely harvesting near the highs. Recently, a slight decrease in long-term holdings reveals a heavy signal: everyone is holding back, waiting for LTC to break through the $200 ceiling!
Election Effect, Will History Repeat Itself?
Analysis shows that the price trend of LTC/USD in the fourth quarter of 2024 is surprisingly similar to the post-election frenzy of 2020! Looking back at history: in 2020, after the U.S. election, LTC skyrocketed from $60 to over $160, experiencing a short-term surge.
Comparing to now: the market trend in 2024 is eerily similar, with prices also experiencing fluctuations before and after the election, and the pattern of rising volume and price has already emerged.
If the pattern continues, it might just be a matter of time before LTC's price breaks $200 in early 2025. Even more exciting is that history shows the “aftershocks” of the election effect often continue into the first quarter of the new year, suggesting this potential upswing may just be the beginning!
Grayscale + Canary, Are Institutional Funds Already Positioned?
Market giants have quietly laid their plans; could they be sensing an unusual movement?
Grayscale has been steadily increasing its holdings: during market downturns, Grayscale decisively increased its position by 2.23K LTC, with total holdings exceeding 2 million coins. This “bargain hunting” operation reveals their confidence in LTC's long-term value.
Canary Funds Targeting ETFs: Canary Funds has submitted an application for a spot Litecoin ETF! If successful, this will be a key step for Litecoin into the mainstream investment market. Unlike many cryptocurrencies that rely on “VC infusion,” Litecoin's perfectly distributed supply mechanism significantly reduces manipulation risk, making it a “digital silver” for investors.
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