Cryptocurrency Trading News: Bitcoin Rebounds Altcoin Surges

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Cryptocurrency Trading News

ForexMinute.com – Last 24 hours in the cryptocurrency market were a clear indication, explaining how Bitcoin can emerge even after facing an army of problems. Owing to the successful implementation of Bitcoin 2014 conference that was held in Amsterdam this May 16, the market was once again driven by some flawless optimism that ultimately led the Bitcoin prices to rise around 10%.

The event brought the industrial’s top representatives, including the Overstock CEO Patrick Byrne, Bitcoin Foundation chief scientist Gavin Andresen and Circle CEO Jeremy Allaire, under one roof. They all spoke well-intentionally about the bright prospects Bitcoin hold in upcoming economies, with few announcements that encouraged the cryptocurrency market to its current “whopping” state. For instance: Circle’s new product launch and Overstock’s vision of introducing a block chain backed stock exchange.

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Additionally, the market was upheaved extensively by other announcements as well. They included: the re-launch of Thai Bitcoin Exchange Bitcoin.co.th, BitPay raising $30m in funding, as well as some kind moralistic backing for Bitcoin by the US government.

Meanwhile, here is what the cryptocurrency charts looked like in last 24 hours:

BTC/USD
It looks nothing less than The Amazing Spider Man’s jump when one notices the last 24 hour-chart of BTC/USD. The pair opened comfortably around $456, and closed at its day peak around $489. At the time of writing, the BTC/USD is being traded around $493.95 and risen around 8.9% in last 24 hours.

Litecoin Dogecoin Surges as Well
The LTC/USD replicated the Bitcoin rise once again, as the pair rose impeccably in last 24 hours, opening at a mere $10.382 and closing around $10.684. The same can be said for the Dogecoin’s DOGE/USD that rose sharply after the Litecoin and Bitcoin jump, closing at around $0.00046352 from $0.00045016 within a mere 24 hours.

At the current hour, the LTC/USD and the DOGE/USD is being traded at $10.69 and $0.000461, respectively.

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

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