Cryptocurrency Trading News: Market Rebounds Ahead of Major Events this Week

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Cryptocurrency Trading News

ForexMinute.com – Last 24 hours were somehow progressive enough for the market which has been suffering huge volatility lately. Although with little improvements, cryptocurrency clan resisted the chaos created lately by PBOC and was finally able to get inspired from the future events that will surely add some spice to its insipid charts.

At first, we are expecting positive market sentiment towards Bitcoin and other cryptocurrencies from today upon the announcement of The Bitcoin Foundation’s annual international forum. The meet-up is schedule this Thursday will attract the world’s leading investors, legal professionals, entrepreneurs, and other Bitcoin enthusiasts under one roof.

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Another event that can influence the cryptocurrency market is Friday’s hearing by US-based Emerging Payments Task Force in Chicago that will be attended by the representatives of leading Bitcoin-related companies such as SecondMarket, BitPay, and others. The aim of the hearing would be to inspect the changes digital currency is bringing in the current payment system.

But for now, the cryptocurrency market is somewhat stable, owing to the launch of multiple Bitcoin ATMs yesterday. The hints of future events can though be seen in the Bitcoin charts. Here is the detailed report of last 24 hours:

BTC/USD
The BTC/USD opened yesterday at around $437. Though lowers than its previous day’s opening value, the pair was already trending upwards from the same day’s lower value around $434. It continued on its wheel and rose decently around 1.5% within 24 hours – crossing the 440-dollar-mark.

At this time of writing, the BTC/USD is trading at around $439.

Litecoin Improves; Dogecoin Drops a Little
Following the Bitcoin escalation, Litecoin and Peercoin also showed slight improvements in their values. The LTC/USD opened yesterday at around $10.36, following which it reached a stable uptrend. At the time of writing, the pair is trading at around $10.41 and has increased 0.5% in last 24 hours.

On the other hand, the DOGE/USD chart was affected by the news of a possible theft at the popular Dogecoin wallet Dogevault. We have reported it first on ForexMinute.com, available here. Meanwhile, the Dogecoin market price still survived the blow and fell only 0.90% in the last 24 hours – from 0.00045536 to 0.00045334, while facing constant support and resistance in between.

We will keep you updated with the upcoming market reports in our next articles.

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

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