Cryptocurrency Trading News: Bitcoin Slides; Litecoin, Darkcoin Ascent

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ForexMinute.com – Last 24 hours in the cryptocurrency market have been satisfactory for most of the coins. While Litecoin, Nxt and Dogecoin are smoothly trending upwards, Darkcoin and Mastercoin seem to have been pumped with some really huge investments.

The reason of Darkcoin’s sudden rebound from the last week’s poor performance is credited to yet another development update confirmed by its core developer. The event has certainly instilled the confidence in Darkcoin market all over again, following which we are seeing a huge pump.

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Speaking of Mastercoin, there has been no particular reason of its rise in last 24 hours. Although, there were few talks on Mastercoin forums regarding fixing the loopholes that were earlier noticed in the coin’s protocol during the MaidSafe crowd sale. However, this single news cannot be credited for a surplus rise Mastercoin has seen lately. Pumping is the only answer that comes to our mind for now.

On the other side, it is Bitcoin which is slipping with a snail-like speed from last 24 hours. There have been few depressing events yesterday – the French Police dismantling a local Bitcoin exchange and an ISIS linked blog praising the digital currency for funding terrorism – that might have shook the Bitcoin market; but went right above its head.

Here is the full report:

BTC/USD
The BTC/USD opened yesterday at $625 after facing a surplus fall. The downtrend continued until the pair found support somewhere around $617 – its week’s low. The pair then picked up again, supported supposedly by a large chunk of investment, and eventually closed at around $622.

Upon entering today’s business hours, the BTC/USD once again saw a massive drop, possibly because of the shutdown of France-based Bitcoin exchange by local law enforcements. At press time, the pair has dropped around 0.5% in last 24 hours, and is trading at $622.

LTC/USD
The LTC/USD is finally trending upwards after a series of downfalls. The pair opened yesterday at around $7.5 and continued to escalate for the rest of the day, with few avoidable hiccups. The rise however might be caused by the lower Litecoin prices, which is attracting investors once again to the market. The LTC/USD was thus pumped well and eventually closed at $7.608 yesterday.

At press time, it has risen 1.71% and is being valued at $7.65.

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

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