Cryptocurrency Trading News: Market Hinting to Bounce Back

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ForexMinute.com – Last 24 hours in the cryptocurrency market have been nothing but a promising note for something better. This is the time when almost every top coin has showed a decent surge in their market caps and prices. Bitcoin, Litecoin, Nxt, Darkcoin and every coin that follows is trending upwards comfortably, due to their own respective reasons.

Here is the full report:

BTC/USD
The leader of all cryptocurrencies Bitcoin had had a gloomy week, in which its value fell notably from the peak of $615 to the pits of $594 by the end of Friday. The reason of such massive drops was an alleged 51% attack led by the popular Bitcoin mining service provider GHash.IO. The major portion of the Bitcoin network was proved to be controlled by the aforementioned company, following which a series of allegations took place – the most serious one including GHash.IO monopolizing the Bitcoin economy for its personal growth.

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The company however released a statement saying that they won’t ever be indulged in any such activities that may harm Bitcoin’s reputation. The statement helped the coin a little, but the support was short lived. The BTC/USD went on declining and closed on the aforementioned value at the end of the week.

Upon entering the yesterday trading hours, the pair inclined a little bit and reached to its day’s peak $597. It though soon stumbled a bit in later hours, and finally closed at $593 at the end of the day.

The BTC/USD pair has although picked momentum once again today, following by the announcement by Overstock.COM to use its Bitcoin profits in spreading the coin. At this current hour, the pair has kicked 2.32% in the last 24 hours and is now being valued at $604.27. It may trade around the same numbers because of the holiday.

LTC/USD
The recent monstrous surge in LTC/USD trading instrument was indeed a pump, as predicted by us. After reaching to a magnificent peak of $10.155, the pair started to roll down the cliff and eventually placed itself to around $9.825 – the same value at which it opened yesterday. It then again went back to being the same old Bitcoin-tailing pair and replicated its price charts throughout yesterday, meanwhile closing at around $9.85.

At this time of writing, the LTC/USD has surged 1.47% in last 24 hours and is now being traded at around $9.87.

NXT/USD
All the technical analysis is failing when it comes to predicting the nature of NXT/USD movements. The pair which was supposed to go to the moon after the PayExpo fell short of achieving such highlighted status and kept on falling in yesterday’s trading hours. There is although a certain stability which could be clearly seen in the pair’s price movements.

The NXT/USD opened yesterday at around $0.06426 and went on forming a heartbeat chart, avoiding any kind of volatility. The pair eventually closed at $0.06501 at the end of the day. Meanwhile, in today’s trading hours, a slight negativity in Darkcoin market is helping Nxt coming back to its feet. At this time of writing, the pair has surged over 2% in last 24 hours and is now trading at $0.0655.

DRK/USD
Darkcoin was the talk of the town when it announced to attempt another hardfork after failing miserably last time. The speculations led by these announcements too fired up optimism among the entire cryptocurrency clan. But when the scheduled date of the Masternode fork arrived, it once again brought sleepless nights for Darkcoin developers and investors.

It seems like Darkcoin latest hardfork is once again facing the same issues as was faced in last fork. Although, developers are claiming the latest mining issues to be minor but such explanations are not helping the Darkcoin market that much. We now have a coin that fell around $4 within the span of few hours, but was soon supported by its well-wishers – maybe someone from the team itself to keep the market optimistic.

The pair still fell from $12.117 to $9.765 yesterday, creating yet another but little damaging havoc in the Darkcoin market. At this time of writing, it has risen 1.5% in the last 24 hours and is being valued at $9.73.

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

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