ForexMinute.com – Last 24 hours in the cryptocurrency market has brought a mixture of both good and bad events. While at one hand, we have Darkcoin, Litecoin and Nxt surging impressively, on the other we have the sultan of cryptocurrencies Bitcoin falling miserably. Meanwhile, Ripple and Dogecoin are among the few which are considerably stable in the last 24 hours.
Here is the full report:
Unlike yesterday, the BTC/USD is hit by some negativity as its prices have dropped notably in the last 24 hours. The pair, which opened at a comparatively higher value yesterday – around $608 – fell right in late trading hours to its four-day low at $595 at the end of the day. The reason of this sudden drop can be blamed on the Bolivia’s Central Bank which recently banned Bitcoin, and other cryptocurrencies. This event has possibly produced pessimism inside the Bitcoin market, because of which its prices against the dollar and other crypto coins are trending downwards.
At the time of this writing, the BTC/USD is being valued at around $591.50 and has fallen 3% in the last 24 hours.
This is the first time in months we are seeing some optimistic volatility in Litecoin value. The LTC/USD this time has completely left the Bitcoin price trail and rose magnificently during yesterday’s trading hours, reaching to its ten-day best at $10.115. The ultimate rise of this pair however can be credited to the drop Bitcoin saw. It might be genuinely possible that Bitcoin holders simply converted their coins with Litecoin, fearing a massive drop after the news from Bolivia.
One other reason why Litecoin went viral during yesterday’s trading hours is a massive pump – a thing which Litecoin investors are totally not known for. But indeed, Litecoin community is trying much harder to keep its price between $10 and $11, until the full-fledged launch of Scrypt ASICs.
The LTC/USD pair too closed just a little ahead of $10 at the end of the day. Upon entering today’s trading hours, the pair has although stumbled a bit but is showing instant recoveries as well. At this time of writing, it is trading at $9.83 and has surged 1.79% in last 24 hours.
Darkcoin is the only coin in top cryptocurrencies that had every reason to jump in the last 24 hours. The coin’s developers has earlier scheduled today – June 20th – to be the date to launch their much awaited hardfork to implement masternode payment platform RC3. This update was likely to bring more optimism in the market, and that is what has happened in previous days, especially last 24 hours.
The DRK/USD pair has risen over 11%, taking its value to its peak two-week peak at $11.68. Earlier yesterday, the pair opened at around 10.561 and closed at $10.94 at the end of the day. It is hopeful to remain stable for the rest of the day, especially for being the best alternative falling Bitcoin.
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
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