Halving is Getting Closer, Don't Expect LTC to Bullish?

<p>&nbsp;"Will investors' hopes for the price of LTC rise be dashed just like that?'</p><p><br /></p><p>A cryptocurrency trader nicknamed DonAlt revealed that he is reluctant to invest in Litecoin (LTC) even though the peer-to-peer (P2P) payment network has a few weeks left until the halving event.</p><p><br /></p><p>According to DonAlt to the 496,000 followers of his Twitter account, the price of LTC is likely to see a horizontal movement immediately after the halving event which will cut miners' rewards in half.</p><p><br /></p><p>DonAlt, who believes that the price of LTC will not be able to reach a new high in 2023 during the second halving event on August 2, has stopped investing in the digital asset for the past half year.</p><p><br /></p><p><br /></p><p>This is because the halving is not a catalyst that can boost the price of LTC since most investors only buy it to generate some profit in the short term.</p><p><br /></p><p>However, the crypto trader intends to buy more LTC in 2026 when the fourth halving event takes place despite already seeing the ratio of the LTC/BTC trading pair drop more than 80% from its value after the halving.</p><p><br /></p><p>Turning to BTC, DonAlt said that the digital asset still looks weak despite various positive news, including Ripple's (XRP) victory in a legal battle and BlackRock looking to apply for a spot BTC ETF.</p><p><br /></p><p>As of this writing, LTC price has plunged by 0.24% to $92.39 in the last 24 hours with a market cap of $6 billion and has recorded a 3.65% decline over the past week.</p><p><br /></p><p>While the price of BTC jumped around 0.02% at $29,992 in the last 24 hours but still slipped 1.08% in the last seven days.</p>