A popular crypto analyst, known as Kaleo, is predicting a big surge for Litecoin (LTC). He believes LTC is poised to hit a new all-time high, potentially reaching $1,200.
Litecoin’s Bullish Pattern
Kaleo, who boasts a large following on X (formerly Twitter), says LTC’s current price action mirrors its 2021 bull run. He sees a clear path to new highs, fueled by the growing anticipation of a Litecoin ETF. He describes the setup as “insanely clean and simple.”
ETF Approval Fuels Prediction
Bloomberg analyst James Seyffart recently gave Litecoin a 90% chance of being the next cryptocurrency to get ETF approval in the US. He pointed out that the SEC hasn’t classified LTC as a security, unlike some other cryptocurrencies. This positive outlook significantly boosts Kaleo’s prediction.
Current Price and Potential Gains
Currently trading around $119, LTC has the potential for massive gains according to Kaleo’s forecast. A move to $1,200 would represent a significant increase.
Disclaimer: This is not financial advice. Investing in cryptocurrencies is risky. Always do your own research before making any investment decisions.
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