ForexMinute.com – In the wake of the Silk Road Bitcoin auction, Bitcoin has seen its share of the surge. Meanwhile, it is time for looking at the other coins in the market – among which most are going through a severe phase. Litecoin, for instance, is weakening with each passing day; and Darkcoin has also stepped on to a banana with a size of a football stadium. In tough words, both coins are falling miserably from last 24 hours. Unlike the way we have predicted, the Bitcoin auction only brought some good news for Bitcoin, while Litecoin this time was not able to reap the benefits of Bitcoin’s rise.
The second most traded cryptocurrency has severely crashed after facing the few hiccups in recent days. Most of the experts are calling it the impact of Bitcoin that has lured many investors towards it. But the fall is such huge that it looks like that someone just snatched a huge investment out of the market; probably by getting frustrated with the slow pace of Litecoin in recent months.
On the other hand, Darkcoin continued to lose its legs as it too crashed superficially in the last 24 hours. It seems like the community is finally giving up the ongoing testing procedures to implement RC3. It might be also because of no new updates from the Darkcoin development team in recent days.
Here is the full report:
After rising almost like a superhero, the BTC/USD finally slipped right before the closing of yesterday’s trading hours. Earlier that day, the pair opened at around $640 and continued its momentum further by reaching to the peak of $656 in later hours. It although fell a little with no specific reasons but was yet in its comfortable zone. The BTC/USD ultimately closed at around $643. At press time, the pair has dropped a few dollars in the last 24 hours and is currently trading at around $644. It is expected to stay between $5640 and $650 for the rest of the day.
A disaster in making if one looks at the Litecoin’s price charts. The LTC/USD saw a depressing fall during the yesterday’s trading hours, probably because a massive chunk has been taken out of the market. It opened comfortably on the same day at around $9, but closed at $1 dollar less than its opening value. The exact reason of this drop is still unknown. At press time, the LTC/USD is being trading at around $8 and has fallen over 10% in last 24 hours.
Unlike Litecoin, the DRK/USD has already been trending downwards in recent days due to the aforementioned reasons. Even in the last 24 hours, the pair continued on its path and dropped magnificently to embarrassing numbers. The DRK/USD opened at around $8.992, and closed at $7.95. The coin still can rise if it developers come up with a stable masternode payment system as promised. The ongoing escalation in Bitcoin prices is surely attracting maximum eyeballs, thus creating it difficult for Darkcoin to stay stable for long. At press time, the DRK/USD is being valued at $9.01 and has dropped 11.5% in last 24 hours.
To contact the reporter of the story: Yashu Gola at email@example.com
Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter