ForexMinute.com – Cryptocurrency market, during the 9/22 trading sessions, had everything from good to bad. On the bright side, it had Darkcoin and NXT which surged impressively in the last 24 hours. On the flip side, Bitcoin remained in its dark phase, dragging Litecoin alongside.
As predicted in yesterday’s analysis, Bitcoin remained bearish but managed to stay away from the expected support level at 9/19 low 379. Its prices against USD have already broken the critical trend line once last week. Though, it didn’t convert into an FUD as feared. Instead, investors flocked back to buy the coin at a low, which subsequently brought its price to a neutral level, around 400.
The reason behind such a disturbing performance is assumed to be the arrival of Alibaba. Though, this statement is highly contradictory to many other analysis, blaming the fall on sell-offs at the mining level, boosting merchant adoption, and the upcoming NYDFS regulations. A combined perspective however hints some possible manipulations in the market.
Meanwhile, Litecoin remained to be a zoomed version of Bitcoin’s bearish signals. Though not entirely correlated, the silver coin smells the blood almost instantly and tails the Bitcoin’s trend line. The speculation again is the uncertain sell-offs from Chinese investors amidst the growing Alibaba horror story.
Darkcoin, on the other hand, is surrounded with utmost optimism at this point of time. The coin released RC5 yesterday, under the influence of which its price rebounded strongly during the 9/22 trading session. What further decorated the event was the announcement to open source Darksend next week. This coin particularly can attract investors to cryptocurrency bazaar in times when Bitcoin seems uncertain.
Moving further, the stable coins in the last 24 hours are Dogecoin, BitSharesX and Ripple.
The BTC/USD pair opened during the 9/22 trading session at 399 and rose by a few dollars in later hours, reaching the day’s peak at 406. Thereupon, the pair managed to stay above the 400 mark, creating the required optimism by trading between 402 and 404 until midday. It once again fell to around 399, but eventually closed at 402.
At press time, the BTC/USD is valued at 398 and has dropped 1.31% in the last 24 hours.
The LTC/BTC opened at 1058180 satoshis during the 9/22 trading session, and soon reacted to the Bitcoin’s little-lived uptrend, reaching the intraday peak of 1081710 satoshis. The sudden surge met with an equal fall in later hours, clamping the LTC/BTC value to the low of 1045870 satoshis. The pair finally closed at 1054330 satoshis.
At press time, the LTC/BTC has dropped by 1.5% and is now valued at 1059030 satoshis.
To contact the reporter of the story: Yashu Gola at email@example.com
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