Cryptocurrency Trading News: Bitcoin Booms; Darkcoin Stumbles; Altcoins Steady

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ForexMinute.com – Each passing minute seems to be better than the last for the cryptocurrency market. It would be safe to say that the China’s dark shadow has finally diminished, resulting which Bitcoin, as well altcoins like Litecoin and Darkcoin are recovering from their weakest phase. Almost all the cryptocurrencies in previous days have surged impressively. Many believe this surge to be led by the successful completion of Bitcoin summits in Beijing and China (even when Chinese government were strict enough on it).

On technical grounds, we can also credit (or mock) the Ripple’s capital outflow that might have led its followers to join the prolonging Bitcoin community. We have seen a massive surge in the Bitcoin volume as well that further proves this theory. Furthermore, the expectations of Bitcoin to surpass the PayPal transaction volume has also generated favorable sentiment in the market.

Although, the last 24 hours aren’t that good enough on the reputation level. There were some serious allegation by a blog named “The Willy Report” against the demised Japanese exchange Mt. Gox. The blogger posted enough evidence that indicated that historical rise Bitcoin saw in last November 2013 was actually a ploy set by Mt. Gox (read here). Incidentally, this “conspiracy theory” came at the time when Bitcoin is showing the similar progress and has risen over 20% in previous days.

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On the other side, Darkcoin seems to be on bodybuilding supplements now a day. Not only this coin has seen a huge surge in last 24 hours, it is further proving to be stable amid the speculations of it being another pump-and-dump scheme. Darkcoin is also finding its place in mainstream markets as businesses have also reported to accept it as one of their payment methods.

Here is the full report of last 24 hours:

BTC/USD
The BTC/USD opened yesterday at around $563 and was calm throughout the day, eventually closing at around $566. The surge however was kept for today’s trading hours, during which the pair rose around $585 during the initial trading hours, thanks to the massive volume shift from Ripple. It although dropped in between owing to ‘The Willy Report’ but soon found its comfortable grounds and surged back.

Currently at this time of writing, the BTC/USD is trading at around $580 – a 3% increase in last 24 hours.

Litecoin Steady; Darkcoin Stumbles a Bit
The Litecoin wallet was being complained for being too slow today. It although didn’t affect its steadiness by a bit as the LTC/USD remained calm for most of the time in the last 24 hours. The pair opened at around 11.44 yesterday but later fell notably in the following hours, likewise Bitcoin. It later picked up its momentum and surged to the comfortable peak of 11.534, which was also its closing value yesterday. At this time of writing, the pair is being traded at around the same closing value, but has risen around 0.45% in last 24 hours.

Coming to Darkcoin, despite of being a rock star for most of the time yesterday, the DRK/USD is facing a little fall at this very moment. After closing at its peak at around $15, the pair dropped today amidst the rumors of a DDoS. Though, it is still unclear if Darkcoin is facing such difficulties or not, but its price against the dollar has fallen 8% since the start of today’s trading hours. The DRK/USD is currently priced at $13.36.

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

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