Cryptocurrency Trading News: Bitcoin and other Major Coins Fall Considerably

0
127

Cryptocurrency vector icons

ForexMinute.com – Last 24 hours in the cryptocurrency market were somewhat average. When observing the Bitcoin charts, we could see how the coin recovered impressively owing to multiple optimistic announcements, but still falling ahead of the $600 mark. Meanwhile, other top coins such as Litecoin, Darkcoin, Nxt, etc. tumbled considerably in the last 24 hours, owing to their own little melodramas.

Speaking of the Bitcoin market first, some optimistic news finally arrived from the 51% attack accused Bitcoin mining pool Ghash.IO, which assured the community of their loyalty towards Bitcoin and would never influence its infrastructure by any sort of malicious practices. This somewhat improved the market conditions.

**relatedarticle**

On the other hand, some price-boosting news came from Hollywood, where Bitcoin wallet provider BitGo raised a whopping $12 million, with Ashton Kutcher being one of the major investors. Other events that influenced Bitcoin market throughout the day were New York Holiday Inn accepting Bitcoin on a trial basis, and Singapore Industry Association promoting this digital currency use.

Here is the report:

BTC/USD
The BTC/USD opened yesterday at around $565 and soon trended upwards owing to aforementioned events. At one point, we could notice how the pair jumped to $573 from a mere $561 within the matter of a few hours – coinciding with the GHash.IO explanation on the 51% attack. At the end of the day, the BTC/USD was trading at around $589.

At the time of writing, it is valued at $595. Bitcoin’s value is hopeful to remain between $595 and $605 today.

DRK/USD
Ahead of its scheduled hardfork, the Darkcoin market yesterday was quite impressive, opening and closing at around $10.057 and $10.129, respectively. But it stumbled in later hours, probably because of traders buying Bitcoin because of its comparative lower prices. Bitcoin market indeed becomes the most profitable bet in times of its falling. Reason which the DRK/USD has fallen over 1.5% in today’s trading hours.

At the time of writing, the pair is valued at $10.10.

LTC/USD
The Litecoin market is downright suffering, with its prices against the Dollar depreciating heavily. Although, the LTC/USD pair jumped like Bitcoin in the last 24 hours, but fell over 2.8% upon entering today’s trading hours. It is currently valued at $9.61, and opened today at around $9.953. The reason of this fall, once again, could be traders exchanging their altcoins with Bitcoin.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter