The post How High Could Litecoin Price Go If a LTC ETF Is Approved? appeared on BitcoinEthereumNews.com.

Litecoin price experienced a huge boost on Oct. 15 after news of a spot Litecoin ETF application by Canary Capital hit the crypto space. LTC price exploded in one huge 8% 30-minute candle and is still in an uptrend. Litecoin enthusiasts saturated X, taking the opportunity to boast of their early predictions of a Litecoin ETF in 2024. The highest LTC price has ever gone was $410 in May 2021 during the bull run. How high could it go in the 2025 bull run with an ETF behind it? Litecoin Price If LTC ETF is Approved LTC price has increased by 6.7% in the last 24 hours and is trading at $71.65. The rest of the crypto market is up 0.2%, possibly because Bitcoin surged late yesterday and breached the $67,000 mark before retracing. The BTC price is currently hovering around $66,986. The impact of the spot Bitcoin ETF on the underlying asset’s price is clear. BTC price has increased by 47%. Moving the price of a $1 trillion market cap asset is extremely difficult due to the sheer size of the market, requiring a large volume of buying or selling pressure to impact the price noticeably. Therefore, the fact that the ETF was able to achieve such gains is commendable. Litecoin, on the other hand, is much smaller. BTC rose by 57% to a price of $73,000 shortly after the ETF launch. Assuming Litecoin gets just 30% of BTC’s performance, we can estimate a similar impact on LTC. Litecoin currently has a market cap of $5.383 billion.  According to CoinGecko data, Bitcoin’s market cap is 240 times larger than Litecoins. The 57% upside move for the $1.2 trillion BTC market would be equivalent to a 13,680% increase for a much smaller market cap of only $5.3 billion. If LTC…

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Filed under: News - @ October 16, 2024 6:20 am