ForexMinute.com – In absence of dramatic events, cryptocurrency market stayed calm most of the time in the last 24 hours. Among the top coins, Bitcoin, Litecoin, Ripple showed reasonable surges in their charts, while other altcoins, including Darkcoin, Dogecoin, and Nxt failed to impress.
Speaking first of Dogecoin, its drop can be blamed on its blockchain which is soon going to reach the next halvening. This event will instantly reduce the mining rewards to the half of what it is today – 125,000 Dogecoins per block. Investors are indeed waiting for the miners to decide the future of Dogecoin in the current market scenario.
In previous halvening, Dogecoin prices rose sharply before the event, but fell equally when the event was passed. Indeed, with less mining reward miners would be focusing on creating enough demand in the market by holding the coins. This will surely inflate Dogecoin to some heights. In case of a sell-off, the coin may drop a few dollars from its value. As per now, the Dogecoin charts are trending downwards, waiting for a hopeful rebound anytime soon. Good time to invest indeed.
At the present time, the DOGE/BTC has fallen over 2%. The Dogecoin’s current value is $0.000257.
On the other end, Darkcoin is falling continuously from recent days. Its last 24 hours have been equally disappointing. The DRK/BTC dropped 4.5% in the last 24 hours, while staying in it bearish mood. This is indeed due to the lack of any major announcement – the only thing Darkcoin charts are depending on lately. As its next hardfork in not until the end of July, it is believed that the pair will drop a few dollar more in the upcoming days, but will soon pickup upon reaching its lowest threshold.
At the present press time, Darkcoin’s value is $5.99.
The BTC/USD charts finally hinted a bullish signal after a series of small but relative drops. At the start of yesterday’s trading hours, the pair moved further downhill to eventually find the second support at $618. After noon, the BTC/USD picked up pace and started inclining upward, to eventually close at $620 at the end of the day.
At the present time, the pair has risen 0.61% in the last 24 hours and is trading at around $624.
Despite little volatility, the Litecoin eventually rose in the last 24 hours, indicating a certain stability in the market. The LTC/BTC was previously dumped quite shockingly, during which its value dropped from 0.01444830 BTC to 0.01370480 within the span of only 36 hours. The pair although had picked little momentum since that and is trending upward smoothly and gradually. It is the same bullish signal as that of the BTC/USD.
At the the time, Litecoin’s value has surged 0.05% and is around $8.59.
To contact the reporter of the story: Yashu Gola at email@example.com
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