Cryptocurrency Trading News: Market Looking Ugly Today

0
129

Cryptocurrency Trading News

ForexMinute.com – Last 24 hours have been disappointing in terms of numbers indeed, with almost every major coin, except Peercoin and Ripple, seeing little to massive drops. While Darkcoin and Nxt were among the ones that have fallen heavily, Litecoin and Bitcoin managed to reduce the market’s temperament by some level, though, still disappointing.

BTC/USD
This is the time when Bitcoin charts seem ineffective of the ongoing market events, especially in last 24 hours which are full of optimistic news. It includes a major Malaysia-based online retailer company that has accepted Bitcoin, and has further announced to avoid converting it into fiat currency. Despite of such overwhelming events, what we see today is a sudden blunder in Bitcoin charts.

**relatedarticle**

The Bitcoin market opened yesterday at around $655, and remained stable for the rest of the day with hardly any hiccups. It eventually closed at around the same price. Upon entering today’s trading hours, the BTC/USD pair was yet again trading smoothly until some ghost hit it down, following which it fell to around $646. One of the reasons of this fall can be the Sharexcoin scam in which some Bitcoin are also reported to be stolen. However, this is merely a speculation until more proofs come on layer.

At this time of writing, the BTC/USD is valued at around $649 and has fallen 1.9% in the last 24 hours.

LTC/USD
With a mere speculation that most of the trading volumes are going on between Bitcoin and Litecoin, as both have similar surges and downfalls, last 24 hours have proved to be no different. The LTC/USD is mimicking Bitcoin price charts and has seen similar hiccups. It opened yesterday at around $11.185 and closed at $11.253, but fell slightly while entering today’s trading hours following Bitcoin’s tail.

At this time of writing, the LTC/USD is valued at around $11.18 and has fallen 0.20% in the last 24 hours.

DRK/USD and NXT/USD
This is the first time when both Nxt and Darkcoin – coins credited for surging exponentially in their respective good times – are now falling with a parallel hurriedness. The much-hyped speculation of Nxt surging more in coming weeks, due to its upcoming presentation before potential investors at PayExpo, is finally wearing off – making it look like yet another classic pump and dump, overrun by selling opportunities. The Darkcoin is also looking the same at this moment.

As a result, the NXT/USD has fallen 10%, and Darkcoin 12.5% in last 24 hours. This downtrend seem to disturb the market equilibrium further in coming days, until and unless some favorable buying opportunities come to layer.

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

Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter