A trader who rode the crypto surge at the start of the year says that he’s staying away from Litecoin (LTC) even though the peer-to-peer payments network is just a couple of weeks away from its next halving event.
Pseudonymous analyst DonAlt tells his 496,000 Twitter followers that based on historical price action, Litecoin tends to witness deep corrective moves after the blockchain slashes miners’ rewards in half.
With LTC’s third halving set for August 2nd, DonAlt says the event will likely not push Litecoin to fresh 2023 highs.
“LTC halvings on a chart.
This is why I shilled this more than half a year ago and stopped weeks ago.
The halving isn’t a bull catalyst anymore. It’s a drag given a bunch of people only bought it in anticipation.
But for some reason, people still shill this thing two weeks out.”
Source: DonAlt/Twitter
The crypto strategist says that he plans to accumulate Litecoin again in 2026 in anticipation of its fourth halving.
“I’ll consider buying LTC
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