Cryptocurrency Trading News: Bitcoin, Litecoin, Dogecoin Rises; Auroracoin Drops

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Cryptocurrency Trading News: Bitcoin, Litecoin, Dogecoin Rises; Auroracoin Drops

ForexMinute.com – Last 24 hours has brought good news for digital currency traders as eight out of ten top cryptocurrencies have risen in value by attractive margins. Although, there are many events today that might have inspired the sudden roar after a week of disappointing figures.

The major news that yet again brought Bitcoin tothe  spotlight was the renowned mobile payment provider Square’s announcement to support Bitcoin payments. This might have injected confidence into the digital currency market that first initiated with Bitcoin, and soon followed by Litecoin, Dogecoin, and other altcoins. Though, only Auroracoin failed to show any significant rise as its values was highly volatile due to the ongoing Airdrop in Iceland.

Bitcoin Recovers its Value
“Sellers should never miss a sale,” said Square’s key representative in his statement yesterday. We believe that a Bitcoin user should never lose hope. Earlier, CoinDesk reported a heavy drop in Bitcoin’s value – reaching around $450. After Square’s announcement, the coin’s value easily crossed once again the $500 mark. Its last 24 hour performance is showing an impressive +4.90% change; although the trading price of Bitcoin at the time of writing is $479.57, and is showing signs of improvement.

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Dogecoin and Litecoin: Where Bitcoin Goes, They Follow
Litecoin remained in the news in the last 24 hours over its Hard Forking. We reported earlier that Litecoin’s developers’ decision of not changing Litecoin’s current Scrypt algorithm to X11 Hard Fork, despite the fact that most of the users voted in the latter’s favor.

The decision was focused on the upcoming ASIC Scrypt Miners who are threatening the traditional GPU miners’ profits. Hard Fork will simply change the core algorithm of Litecoin that will make it inefficient for ASIC Miners to mine Litecoins.

With no major shocks or announcements in recent hours, Litecoin’s value managed to surge by a decent +2.97%. The LTC/USD pair is current trading at around $13 after closing above $12 on March 31st.

Dogecoin remained in the news for light-hearted reasons, with even some predicting it to dethrone Bitcoin in the coming days. The Doge community is currently spending its time posting April Fool Jokes and doing what they are renowned as, which is not taking themselves seriously. Dogecoin’s price is also enjoying a little market push by rising over +1.10% in the last 24 hours, and is currently available at $0.0005.

Auroracoin: Airdrop, Drop, Drop, Drop……
Auroracoin’s value though improved a bit on 31st March ’14, and has even reached the peak value of $5.4. But it has fallen once again by around -12.50% in the last 24 hours, and is now trading at $3.137. As predicted earlier by our team, as more and more Icelanders are claiming this currency, the lower its price is going.

This is all for today. See you with the April 2nd report on cryptocurrencies tomorrow.

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