Can Litecoin [LTC] invite investors’ attention amid ‘buy the dip’ call

ambcrypto.com:

As it appears to be, cryptocurrency investors nowadays are just looking for an opportunity to jump into the space. And, for the same reason ‘buy the dip’ and stacking sats, seem to be trending every time Bitcoin’s price has dropped over the last two months.

This time as well, the same situation is developing as Bitcoin, along with other altcoins, collectively tripped the market cap, which resulted in a 5.66% fall erasing $103 billion out of the crypto space.

Now interestingly, most of the demand is coming from Twitter which has been in its own turmoil ever since Elon Musk acquired it for $44 billion.

“Buy the dip” is trending once again | Source: Santiment

Now, the most pertinent question is- Can the demand actually help Litecoin make some gains. And, it seems slightly difficult to answer this question, at the moment.

Firstly LTC has been performing weakly (in terms of price) when compared to most of the other altcoins. This is because, over the week, the silver to Bitcoin’s gold has lost 15.53% and slipped below $100 to price levels that were last visited by LTC a month ago and before that only at the beginning of 2021.

Litecoin price action | Source: TradingView – AMBCrypto

Although LTC managed to recover and trade at $100 on 27 April, it may not be able to bring in enough demand for a near-term rally.

Since the entire market is setting itself up for potential recovery, one must consider all the other assets that have the edge over Litecoin. Not to forget, Litecoin seems to be floundering as a lucrative asset at the moment.

The top cryptocurrencies such as Bitcoin, Ethereum, XRP, and Cardano are all doing better than Litecoin currently.

Although there are many other altcoins that are also doing better than Litecoin, these four