Kripto paralarda büyük bir heyecan yaşanıyor. Halving’e sayılı günler kalmışken son 500 blok seviyesinin altına inildi. Bu heyecan yaşanırken gözler bazı altcoinlere de çevrilmiş görünüyor. Litecoin de onlardan bir tanesi. Peki Litecoin’de neler yaşanıyor?
Will Litecoin Rise?
An analysis on Litecoin (LTC) has highlighted a critical point that could trigger a jump. As of writing, according to data provided by Glassnode, the Market Value to Realized Value (MVRV) Z-Score was -0.23.
This indicator reveals the valuation of the cryptocurrency. On February 29, the MVRV Z-Score was similarly valued.
On the mentioned date, LTC was trading at $74.62. Just two days later, the cryptocurrency’s price had risen to $94.47. However, this isn’t the first time Litecoin has been in such a situation.
As the calendars showed March, the metric had a negative outlook, and a price drop occurred. However, after a 10-day period, the price suddenly rose to $109.29.
LTC’s Price History
As of writing, LTC’s price was trading at $78.84, and Bitcoin (BTC) is about to experience a halving in approximately 96 hours. If history repeats itself, Litecoin’s price could jump before Bitcoin’s price movement.
However, to understand whether a price increase will occur, it is important to examine LTC’s price performance during the last two halving events.
In 2016, just a few days before the halving, Litecoin’s price was at $3.19. On the day of the halving, it was at $4.12. However, in the 2020 halving, the price found buyers between $43 and $46, so LTC’s price remained flat.
However, since that day, much has changed in the world of cryptocurrency, and the situation seems to be a bit different. It is important to remember that the market conditions have been completely reshaped over this four-year period. Therefore, examining the charts might be more beneficial.
Firstly, looking at the Realized Cap graph, this metric seems to provide some information about market sentiment.
Known as Realized Cap, an increase in this measurement could be interpreted as coins acquired at lower prices being sold off, and investors making a profit.
This situation could bring about a significant correction. However, a falling Realized Cap could also indicate a potential decrease in value. As of writing, Litecoin’s one-day Realized Value was marking -49.83 million, which might indicate a potential rise.
Outlook for Litecoin Investors
If the metric decreases, the chances of LTC rising before Bitcoin’s halving could increase. However, an increase in the metric could invalidate this prediction.
LTC’s rising potential is considered, yet not all market participants are convinced about the coin’s short-term potential. This is clearly understood from the number of LTC investors.
According to data provided by Santiment, the total number of Litecoin investors decreased from 8 million to 7.98 million before the halving.
