Cryptocurrency Trading News: Bitcoin Dips Further; Litecoin Rebounds

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ForexMinute.com – The time when Argentinians are following the activities of their football team which is to play Germany in the FIFA World Cup final, their government is rather busy in tracking the Bitcoin transactions. There are a number of such evidence that might have been the perfect reason for Bitcoin’s unsatisfactory performance in the last 24 hours; its community looking for anonymity. Our hopes still go for Argentina and Lionel Messi.

Meanwhile, it is just not Bitcoin that is subjected to notable drops in the last 24 hours. The other top coins that have seen the similar gravity is Peercoin, Darkcoin, Dogecoin and Namecoin. On the bright side, Litecoin have been able to retrace its steps back to the north, along with Nxt, Ripple and MaidSafeCoin, which have also risen magnificently in the last 24 hours.

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Here is the report:

BTC/USD
We started by telling Argentina’s financial regulators’ decision to track down Bitcoin activities, but the fall which the BTC/USD saw in earlier trading hours was so sudden that it looked like a job of some moody investor; probably a dump. However, further negativity was also ensured with the aforementioned ruling by Argos, and the warnings released by the Italian authorities as well.

After dropping from $626, the BTC/USD pair opened at $614 yesterday and showed some inclination in the next hours. The uptrend behaviour remained for the rest of the trading hours, with the pair eventually closing at $616.

At the present time, the BTC/USD has dropped 1.5% in the last 24 hours, and is available at around $618.

LTC/BTC
Litecoin probably is the only market that is functioning solely on the investors’ fluctuating emotions. After falling slightly in Wednesday’s trading hours, the LTC/BTC rebounded once again (for how long no one can predict). It opened at 0.01272930 and traded smoothly for the rest of the day, without showing any kind of volatility. The reason of Litecoin’s calmness might have been influenced by Bitcoin’s fall. The LTC/BTC thus closed at around $0.01266410 at the end of the day.

At the present time, the pair has increased substantially by 1.74%. Its value in dollar is $7.93.

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

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