Cryptocurrency Trading News: Bitcoin, Litecoin Fall; Darkcoin Springs

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ForexMinue.com – Last 24 hours in the cryptocurrency market were somewhat satisfactory thanks to the exceptional performance of Darkcoin throughout the day. Not only has the coin recovered its investors’ faith, but also surged heavily in terms of prices and market cap.

Meanwhile, the father of all cryptocurrencies had an average day as predicted by us yesterday. Although the coin is currently in its best phase since March, but the last 24 hours were not that spectacular. This fall can be blamed on several facts, but the major among all can be the coin’s falling market cap, which further is due to traders either exchanging Bitcoin with fiat currencies, or other cryptocurrencies (probably Darkcoin).

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Incidentally at the same time, Bitcoin was being traded smoothly at every exchange. There the scenario was completely different as Darkcoin holders were simply exchanging their holdings in exchange of Bitcoin. It might be the reverse in the last 24 hours.

As it was Sunday, there were no major events in the Bitcoin market. So nothing fundamentally could have caused Bitcoin prices to fall, though slightly, in last 24 hours. Here is the full report:

BTC/USD
The BTC/USD opened yesterday at around $644 and closed by falling a whopping $12, i.e. on $632. Upon entering today’s trading hours, the pair though saw inclination but that didn’t live for so long, and fell considerably in the following hours, taking the pair’s value further down to $622.

At the current time of writing, the BTC/USD is being valued at $628.43 and has fallen over 5% in the last 24 hours. The pair although is expected to rise tomorrow as much optimistic news is coming from the market. For instance: BTC-e Meta Trader introducing multi-currency accounts.

LTC/USD
The LTC/USD opened yesterday at around $11.126 and rose magnificently in the subsequent hours, reaching its day’s peak at $11.541. The pair although fell later on and eventually ended up on 11.103 at the end of the day.

The Litecoin market has however been low profile in recent days, with its Scrypt ASIC mining machines are getting distributed at large. We have seen how much LTC/USD gets stirred even on a rumor regarding the ASICs. As a result, the pair even rose today for an extensive time during a long debate on Reddit regarding the potential price rise of Litecoin once the ASICs arrive. The pair although lost steam in following hours.

Currently, it is being traded at around $11.19 and has fallen over 2% in last 24 hours.

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

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