Polkadot (DOT) Price Heralds Christmas Rally: Are Litecoin (LTC) And Everlodge (ELDG) The Best Options For 2023?

After the news of the Ethereum Spot ETF application from BlackRock, and the continuing positive news about the Bitcoin Spot EFTs, Layer 1 and 2 chains continue to do well. There has been a retracement but Polkadot and Litecoin are still in the green. Everlodge has been increasing steadily and is just over halfway through its presale. How does this all relate to the Santa Claus rally?

Polkadot peaks and then retraces

As we can see from the chart below, Polkadot’s price hit a high, in line with Ethereum, around the times of the bullish spot ETF announcements.

What is interesting is that Polkadot has generally stayed the same or higher than Ethereum since the peak. This indicates that altcoin season is here and that Polkadot may be a better choice than Ethereum over the Xmas period. Especially with the phenomenon of the Christmas rally potentially about to start.

The so-called “Santa Claus rally” refers to a pattern where both crypto and traditional stock markets historically rise from late December through early January.

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Explanations range from holiday optimism to tax-related trading. In terms of crypto, Bitcoin and coins like Polkadot usually mirror this seasonal stock trend, but not always. Analysis shows mixed results – some Decembers bring 10% gains, but others big drops.

Still, positive sentiments like “vacation euphoria” often indicate coming gains. Additionally, crypto trading volumes frequently peak around holidays as new money enters, as people have cash and free time.

So major cryptocurrencies like Polkadot, Litecoin, and Everlodge can still benefit from Santa rallies. However, crypto’s legendary volatility means any Christmas gains could disappear fast. But as we will see, with Everlodge, the scenario is different.

Polkadot is currently down by 8.7% over the weekly but up by 25% on the monthly chart.

Is Litecoin flashing a buy signal?

It’s been a disappointing year for Litecoin, with the hotly anticipated Litecoin halving event having little to no effect on the price. Amidst a sea of coins that have been rising since the ETF news, Litecoin is down on almost every timeframe, with a slight boost on the 30-day charts:

1h        -0.30%

24h      -2.20%

7d        -1.90%

14d      -6.00%

30d        2.10%

1y        -10.30%

Having said that, this could be an ideal time to buy if Litecoin is to benefit from the Santa Claus rally. Trader Weslad, correctly predicted the trajectory of Litecoin since June, and now suggests that we are in the “buy back zone”. They note that the coin is currently “sluggish” and that “patience” is needed.

Vacation time with Everlodge looks better than ever

Everlodge, for those who don’t yet know, is a novel blockchain-based property investment portal in development. The founder is rumored to have links with Airbnb, and the model combines the best of holiday rentals with Web3. Following the lead of BlackRock and other asset managers, Everlodge believes that tokenization of real-world assets is the future.

Everlodge has a portfolio of vacation properties that have been tokenized into NFTs, and can then be sold as fractions to investors. Essentially that means that anyone with $100 or more will be able to co-own a piece of real estate and receive a proportion of the income.

And there’s more – as property prices rise, the NFT value will rise also, and these assets can then be traded in the Everlodge marketplace.

ELDG – the currency that drives the platform – is in the 7th phase of an 11-stage presale. This means that regardless of any shocks to the crypto system, it can only rise from here until the launch point. Currently, the token can be bought at $0.025.

Christmas will be a good time for the presale since many people will want to invest in this bullish idea at this point. Those wishing to invest and get the most from their money would be wise to take a look before everyone else gets in, as the price will increase as each phase concludes.

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• Source: https://thecryptobasic.com/2023/11/29/polkadot-dot-price-heralds-christmas-rally-are-litecoin-ltc-and-everlodge-eldg-the-best-options-for-2023/?utm_source=rss&utm_medium=rss&utm_campaign=polkadot-dot-price-heralds-christmas-rally-are-litecoin-ltc-and-everlodge-eldg-the-best-options-for-2023