Litecoin (LTC) is often called “digital silver”, a nickname that does not come out of the blue. After all, the project is a fork of Bitcoin (BTC), which is seen as digital gold, but with faster transactions. With optimism returning to the crypto market, the time seems right for Litecoin to deliver. According to crypto analyst Crypto Patel, the digital currency could reach a new all-time high of $500.
Strong signals for Litecoin price
According to the analyst, the price of Litecoin shows strong signals. Crypto Patel expects the project to reach key price targets of $296 and $387 in the coming months. He emphasizes that he has been bullish on LTC for a long time, even when the coin bottomed around $50 and $60.
“A lot of people laughed when I made this prediction, but I still hold my position,” Patel said. He sees $500 as a realistic target, with a possible peak by mid-2025.
On-chain data builds trust
Litecoin’s growth is boosted by the robust performance of its network. In 2024, the digital currency recorded an average of 401,000 daily active addresses, a significant increase compared to 2023. This growth underlines the increasing adoption and trust of users in the network.
ETF rumors fuel expectations
Another important factor for the possible price increase is the speculation surrounding a US spot exchange-traded fund (ETF) for Litecoin in 2025. After the successful launch of Bitcoin and Ethereum ETFs, expectations are high about which altcoin will be next on the list. turn.
With the arrival of Paul Atkins, a crypto-friendly chairman of the US Securities and Exchange Commission (SEC), the chances of approval of a Litecoin ETF seem to be growing. Such a development could significantly boost Litecoin’s institutional adoption and push its price further higher.
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Source: https://newsbit.nl/crypto-analist-litecoin-kan-dit-jaar-naar-500-stijgen/
