Daily Altcoin Price Analysis: Cryptocurrencies Behavior has Gone Mad
Cointelegraph daily Altcoin Price Analysis by Frederic Racine, December 9, 2015.
And for the fourth time in two weeks, Litecoin reaches the level of $3.80 to roll back from it again. Bitcoin overcame $420, which was the driver for the Litecoin price growth. Now Bitcoin is in the correction phase that leads to the fall of Litecoin’s price to $3.50. At the same time, the LTC/BTC pair updates its bottom level, as with a growth of Bitcoin, the LTC/BTC pair fell sharply from 0.091 to 0.087.
DASH once again confirmed that its price level is 0.056. Having made a start from 0.056 this cryptocurrency made a dizzy jump to 0.067, and now makes the return movement. Not all traders managed to close trades with profit but all received very valuable information: it is worth it to make deals in the corridor between 0.056 and 0.068.
Dogecoin practically didn't react to the madness around and remained at the level of 31 Satoshi. It seems that the trading community have found more interesting options to trade with. However, it seems that Dogecoin could be next so the best price to buy this coin in my opinion is 28.
ETH price landed on the level of 0185, after all, having reached a long-awaited bottom level. But still questionable, whether the movement will stop here or continue to spiral downwards.
Peercoin grew ever so slightly against strengthening price of Bitcoin. The PPC/BTC pair keeps the exchange rate of 0.001, which means that if Bitcoin price goes any higher than $400, Peercoin won't return to the level of $0.40. At the same time, no growth potential to new high levels have been indicated.
Neucoin is in the race of this “mad day” too. NEU price has fallen from $8.2 to $7.65 for 1000 Neucoin. It then moved back up to $8.7 before falling again to $7.7. And this day isn’t over yet...