Litecoin $131has experienced a huge rise recently, and this has attracted the attention of investors. Empire Head Coach Matt Foyle capitalized on this rise and made a 1040% gain. Using his advanced harmonic trading strategy, Foyle bought Litecoin at $84.22 and sold it at $128.10. This transaction was carried out using 20 times leverage and received widespread attention among investors.
The Rise of Litecoin and Its Impact on the Market
Litecoin attracted attention with its performance in November. This successful trade by Foyle increased Litecoin’s popularity and revived investor interest. Litecoin dropped to $60 before the election, but rose 123% afterwards. This also caused the spot trading volume to increase significantly.
Litecoin’s rise also paralleled the intense activity on crypto exchanges in November. Crypto trading volume reached a three-year high of $2.9 trillion in November. This move, called the “Trump Pump”, revealed the interest of ETFs and individual investors in the market. Bitcoin 
$96,937 spot ETFs raised $6.87 billion, while outflows totaled just $411 million.
Bitcoin and the US Government’s Moves
Bitcoin is trading near the $100,000 mark. However, market indicators indicate that the rise may stop. The possible Hanging Man formation seen on the weekly chart brought up the possibility of a retreat in prices. Traders are paying attention to the $88,000 and $83,000 support levels.
Additionally, the US government transferred $1.9 billion worth of Bitcoin to Coinbase. During this transaction, only 10,000 BTC was sold, while 9,800 BTC was sent to a new address. The total 183,850 BTC held by the government corresponds to 0.93% of the supply. It is evaluated that large sales may put pressure on the Bitcoin price and cause volatility in the market.
These developments show that there are risks as well as investment opportunities in the cryptocurrency market. Litecoin’s rise and Bitcoin’s uncertain course may play an important role in future investment decisions. Investors continue to be wary of these dynamic changes in the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
