Cryptocurrency Trading News: Bitcoin, Litecoin, Dogecoin Slump; Mastercoin Soars

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Cryptocurrency Trading News

ForexMinute.com – Every top cryptocurrency in the last 24 hours saw slight declines. Those included were the Bitcoin, Litecoin, Dogecoin, Peercoin, and even the recently celebrated Blackcoin that fell over 23% in last few hours.

While there have been no major events that could influence the Bitcoin and altcoin prices, the impact thus was minimal on the leading altcoins. The fall although coincides with the launch of a new decentralized internet project ‘MaidSafe’ – which made available a new currency-like token ‘Safecoins’. Rumors are that a lot of cryptocurrency users used Mastercoin to buy Safecoin when they went on sale for the MaidSafe project.

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This may also be the reason of Mastercoin being the only top cryptocurrency to have seen an exponential growth in last 24 hours, with its value increasing around 8.5% in the aforementioned period. Take a look of other digital currencies as well.

BTC/USD
After an impressive performance last week, this week also started on a good note for BTC/USD as the pair opened and closed stably around $500 on Sunday – some credits also to the Christian festival Easter that led to low trading of the coin.

As of yesterday, the BTC/USD value remained minimally volatile as the pair opened at around $501 and faces only a few hiccup through the following hours, with its minimum value being around $493 and the peak value around $500. The slight bump was once again credited to the high attention Mastercoin received with the launch of MaidSafe.

The BTC/USD however managed to remain somewhat stable and closed around $498 at the end of yesterday.

At this time of writing, the pair is trading at $498.29 and has also touched the $500 mark few hours later. It is expected to either remain stable or rise as market sentiment is looking confident today thanks to the company ‘500 Startups’ decision to invest in five Bitcoin companies with $100,000 each.

Altcoins Drop
As usual, the altcoins followed the Bitcoin’s tail and fell slightly during the last 24 hours. Starting with Litecoin, the LTC/USD remained stable yesterday and closed at the decent value of $12.48, falling minimal from the same day’s peak at around $12.5. At the time of writing, the pair has dropped just 2% and is currently trading at $12.48. It has also reached to the peak value of $12.6 today.

Other leading altcoins such as Dogecoin and Peercoin have also dropped around 2.5% and 1.45%, respectively. While the DOGE/USD is currently trading at $0.000607, the PEER/USD is trading around $2.5.

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

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