Cryptocurrency Trading News: Bitcoin Recovers from Intra-Day Low; Altcoins Decline

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Cryptocurrency Trading News

ForexMinute.com – Last 24 hours in the cryptocurrency market has had its ups and downs. On the optimistic side, the leading digital currency Bitcoin recovered impressively from its intra-day low of $578, while the flip side was small-but-considerable slips in the top altcoin charts, mainly including Litecoin, Darkcoin, Nxt and Dogecoin.

There have been plenty of events inside the Bitcoin market that might have triggered buying pressure, though a lenient one. There have been a lot of speculation about Bitcoin being accepted by Argentina in the wake of nation’s economic downtrend. Meanwhile, the reports of France inches away from regulating the digital currency is also bringing optimism to the market.

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On the other end, it is Dogecoin which has remained in the news throughout the day owing to its benchmark decision to implement Auxiliary Proof of Work, i.e. merge mining. Though, the impact of this event has been negligible to the coin’s market cap and price. But still it has injected confidence in the Dogecoin market by ending the speculation of its possible death.

Here is the full report:

BTC/USD
The BTC/USD opened yesterday at around $589 and slipped quickly ahead on noon, narrowing down to $583. The pair however picked momentum and maintained a stiff trading range for the rest of the day, closing eventually at $586. It continued to remain in this trend even in today’s trading hours. The market got further support due to optimism created by a few events, mainly Bitcoin’s regulation in France.

At the present time, the BTC/USD has surged 0.39% and is being traded at around $589.51.

LTC/BTC
After trading between negligible trading ranges from few days, the LTC/BTC once again faced selling-pressure and formed a downtrend in the last 24 hours. The pair opened yesterday at around 0.01293720 BTC and rose by a few steps in the following hours, resisting at 0.01300090 BTC. The drop in BTC/USD somehow was reflected in Litecoin price charts, as its trading instrument fell similarly. While Bitcoin recovered, Litecoin came in the territory of pessimism and selling pressure was clearly visible. The LTC/BTC trended downwards for the rest of the day and eventually closed at 0.01285020 BTC.

At press time, the pair has fallen more than 2% in last 24 hours, and is currently priced at 0.01259260 BTC.

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