Traders have been looking to next spring's Bitcoin halving as a beacon of hope while regulatory uncertainty weighs on the industry and trading volumes remain suppressed.
"The Litecoin halving has a bit of a price cyclicality associated with it as well, and those patterns seem to be repeating," he told CNBC.
The token typically finds its trough and then its peak ahead of the halving, whereas bitcoin tends to peak well after its halving.
Litecoin's trough to peak returns fell from 550% in its first halving cycle in 2015 to 504.8% in its second halving cycle three years later.
"The Litecoin halving hasn't had as much of a pre-event momentum build like, say, a Bitcoin halving or Ethereum upgrade," said Michael Safai, managing partner at the crypto trading firm Dexterity Capital.
Persons:
Litecoin, Greg Cipolaro, Cipolaro, Michael Safai
Organizations:
Management, CNBC, Traders
Locations:
NYDIG, Stone