Cryptocurrency Trading News: Bitcoin, Litecoin, Dogecoin Stumble; Mastercoin Crashes

0
116

Cryptocurrency Trading News

ForexMinute.com – Last 24 hours were though full of joyous moments, but the cryptocurrency markets once again fell on a blink of speculations. This time, it is the much-talked-about Safecoin presale whose uncertainties are seeming to affect the entire cryptocurrency clan.

The sale guidelines released by MaidSafe said “the sale event will run until ten percent of all Safecoin (429,496,729) are sold or 30 days have passed, which ever happens first”. The company had promised to offer attractive leverages on both Bitcoin and Mastercoin for Maidsafecoin, but soon after the presale, the company dumped Mastercoin from the sale, leaving its market value in havoc.

**relatedarticle**

While Bitcoin was able to sustain its value throughout yesterday, owing to US-based private equity firm NEA’s decision to invest a huge capital in Bitcoin companies, its altcoins including Litecoin, Dogecoin and others were not so fortunate. Here is how the market is looking for now:

BTC/USD
The BTC/USD is on a downtrend since Monday, after reaching to its peak at around $501.525. The pair gradually faced a series of pushes and pullbacks in last 24 hours, meanwhile finding resistance at $494 and support at $491. Right before entering today’s trading hours, the pair’s value once though fell slightly below the $490 mark, but recovered in the following hours.

At this time of writing, the BTC/USD pair is trading at around $490, falling 0.5% since 0000 UTC today.

Litecoin, Dogecoin also stumbles
Similar dips were seen in the altcoins as well. The LTC/USD once again slipped 1.55%, reaching $12.05 in the last 24 hours after touching the peak value of $12.35 yesterday. The downtrend is similar to the one of Bitcoin, for obvious reasons.

The DOGE/USD meanwhile fell a little too much within last 24 hours. The pair is currently trading around $0.00055, while at yesterday’s close it was trading at $0.00058.

Mastercoin Falls Ominously
As MaidSafe withdrew Mastercoin from its Safecoin presale, the MSC/USD fell massively around 50%, taking its value from the week’s peak $87 to as low as $50. The scandalized crash was never even reported by MaidSafe which further sent negative shivers throughout the cryptocurrency market.

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

Subscribe to our daily newsletter at www.forexminute.com/newsletter