ForexMinute.com – Last 24 hours in the cryptocurrency market have been very disappointing as almost every top coin, including Bitcoin, Litecoin, Nxt, and Darkcoin, has fallen notably. The only positive note has come from Dogecoin and Mastercoin, both of which have jumped impressively in the last hours.
Here is the full report:
Although the BTC/USD was trending downwards constantly in previous days, its fall in last the 24 hours was comparatively high (over 2%). The Bitcoin market opened yesterday at around $642 and rose a little in the following hours, eventually finding the resistance at $647 (also the day’s peak). The market was then knocked down, probably due to a huge chunk of investment taken out, bringing the BTC/USD to just $632.
The pair eventually closed at $633.
In today’s trading hours, the BTC/USD has somehow retaliated from downtrend, possibly because of certain optimistic news of renowned travel planning portal Expedia starting to accept Bitcoin for hotel bookings. At the time of writing, the pair is valued at $635 and is expected to remain stable for the rest of the day.
Likewise Litecoin was also constantly trending downward from previous days. It is clear that the silent fall of LTC/USD is leading to something major. The growing influence of other cryptocurrencies and the expected arrival of Scrypt ASICs are indeed keeping Litecoin investors in a dilemma of either shorting or holding it. But seeing the downtrend, we believe that the Litecoin volume is slowly depleting from the market, without issuing any siren.
We though do not mean that LTC/USD will die a slow death. The downtrend, once upon reaching a definite support, will be expected to change its path and take the pair to a stable position.
NXT/USD and DRK/USD
Nxt and Darkcoin is indeed the most volatile cryptocurrencies at present. In the last 24 hours, the coins remained in their fashion and fell explicitly – around 8 and 5% respectively. While it would be impossible to exactly predict their courses in the next 24 hours, but we can still expect Nxt to stay stable thanks to a major endorsement it received from OkCoin recently.
At this time of writing, the NXT/USD is valued at around $0.074870 and the DRK/USD at $10.49.
To contact the reporter of the story: Yashu Gola at email@example.com
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