In a period when most cryptocurrencies are on the rise, the trend for altcoins, particularly Litecoin (LTC), is strengthening due to ETF expectations and BTC price movements. LTC is undergoing a consolidation phase that is smoothing out significant price fluctuations. Additionally, the mining of the 74 millionth Litecoin marks a milestone, with only 10 million LTC left out of the total supply of 84 million. This has rejuvenated interest in the altcoin, pushing its price from $66 to $79 before settling back to $69.
OpenAI’s ChatGPT has made headlines with its responses and analyses, predicting LTC’s potential price range to be between $150 and $200. The AI also highlighted factors that could influence this crypto asset’s price movement, such as market sentiment, adoption, integration trends, and regulatory developments.
Another indicator of Litecoin’s growing adoption is the network’s witness to over 10 million Ordinals being inscribed. This increased activity level is seen as a reflection of rising adoption activities by LTC investors, according to the Litecoin team’s announcement on December 19.
Meanwhile, Google’s AI tool, Google Bard, may have offered more realistic predictions for LTC, considering the mentioned timeframe. According to Bard, the lower limit for LTC could be $35, with the potential to rise to $210, expecting the average price to fluctuate between $52 and $87 throughout 2024.
The market volume for Litecoin has surged by 77% in the last 24 hours, reaching $450 million. However, a general volume decrease of 1% was observed, positioning the total market volume at $5.2 billion.