Disturbing On-Chain Data Predicts Litecoin Price Drop

Gigantic Growth Litecoin Addresses Signals Changes

In addition, it is striking that the number of new addresses in recent months has been enormously high compared to previous periods, while we are not even in a bull market yet. It peaked at nearly 700,000 new addresses at a relatively low price hovering around $80. Compared to previous periods, we saw increases of around 350,000 addresses. Around the end of 2021, the LTC price was a lot higher with a price of around $200. In the beginning of 2018, during that period, the price rose from around $50 to $350 in just 2 months.

With caution

So can we expect a price drop? As always, nothing can be said for sure in the world of cryptos. What we can conclude from previous data is that the current, mostly positive market sentiment, also has a downside. Earlier data does not rule out a possible price drop. For those considering investing in Litecoin, it seems advisable to exercise caution in the period ahead.

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