Daily Altcoin Price Analysis: Reaction Of Other Cryptocurrencies To Growth Of Bitcoin

By January 21, 2016Bitcoin Business

Litecoin

Yesterday, in the middle of the day, traders reluctantly bought Litecoin at the price of $3.02. At once the price made a jump, reaching $3.16 and LitecoinCT r: 66 didn’t stop there. The price got higher by the evening.

By sunset Litecoin’s price was already at $3.32 and overnight traders were able to close transactions at a price of $3.44.

And then an ambiguous statement from the People’s Bank of China was released. The main financial institution of the country announced plans of releasing its own digital currency . This statement forced the course of Bitcoin to fly up. Litecoin followed BitcoinCT r: 10 , without having reacted independently in any way.

By morning, the price of Litecoin had returned to $3.32. However, it seems that it has more potential to repeat the test of $3.44. But if not? Further stops of the price are known: $3.20, $3, $2,80, $2.20… Litecoin price chart DASH

DASH reacted to growth of Bitcoin in its own manner – no visible reaction. The level of 0.011 looks more and more strong. Correction is practically cancelled and there are no signs of it going lower to 0.01.

The alternative scenario however, could be a slow decrease to 0.01, then to 0.075 and below. Dash price chart Dogecoin

The People’s Bank of China told nothing about Dogecoin . And if it did, traders know nothing about it. The price already reached 38 Satoshi, thus trading volumes are rather high.The continuing of the basic scenario is relevant: decrease until 35-26 Satoshi, when buyers can search for new levels to place buy orders. Dogecoin price chart ETH The price of ETH continues to move in a correction from the previous top of 0.004. It pays no attention to what happens with Bitcoin. Though, the price also decreases, which is a […]

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