Daily Altcoin Price Analysis: Altcoins in confusion whether Bitcoin growth will proceed?
Litecoin, Dash, Dogecoin, ETH, Peercoin & Neucoin all keep an eye on whether the Bitcoin price will continuesto grow.
On the 12-hour chart of Litecoin we see that yesterday there was the fifth reach to the top of $3.80 in two weeks, which happened due to a sharp growth of Bitcoin again. However, Litecoin went higher than $3.50 and then moved down to the same level of $3.20.
This time, while the Bitcoin price grows, the LTC/BTC pair fell, having reached an 0.085 exchange rate. While miners don't believe in Litecoin prospects, this cryptocurrency has no prospects for steady growth.
After a sharp exit yesterday, with rates 0.057 to 0.066, DASH got into a correction, and traders again put orders on 0.056. It’s quite possible that DASH will grow again — for example, while Bitcoin faces a continuation of price corrections.
Yesterday Dogecoin also showed some of the cryptocurrency market's general revival. The sharp shot from 29 to 35 Satoshi occurred with the sharp growth of trade volumes, which for the first time for long period exceeded 100 BTC per day (and that is data from the Poloniex exchange only). Now there was a kickback to 33 Satoshi, but nevertheless, growth of 10% in a day is impressive. According to that, purchases lower than 30 Satoshi are favorable.
ETH for the first time in a long period showed a careful growth due to the numerous orders to buy located near a local bottom (0.016-0.018). Thus, we’re still within a downtrend. There is a probability that this tendency will change but it is impossible to tell that this steady growth will begin any time soon..
Yesterday Peercoin almost reached $0.44 but only because of the continuing growth of Bitcoin. On the two-hour chart we can see something like an uptrend but it is deceptive — as we will see the price of $0.40 and below not once. The PPC/BTC pair moves lower than 0.001,while trade volumes grow. The structure of an orderbook on buy orders changed and the price corridor moved to 0.0008 — 0.00075.
Neucoin jumped sharply from the level of $7.63 for 1000 Neu to the level of $9 and above. Thus good potential for movement up and development remains.
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