Suddenly, Bitcoin Price Shoots Up To $2500 As Poloniex Halts Litecoin Trading
Bitcoin has breached $2500 once again as a bull run gets underway following the weekend’s losses.
Bitcoin has shot up $200 in hours as a sudden bull run sees the virtual currency retake $2500.
Data from cross-exchange readings at Coinmarketcap shows Bitcoin’s price suddenly react during Thursday to go from $2300 to $2510.
At press time, the upward trajectory is continuing, while investors expecting Litecoin to benefit from a knock-on effect are venting frustration at major exchange Poloniex freezing trades.
Poloniex has yet to respond to demands for an explanation from users, who are venting their frustration on social media outlets.
Prediction: When BIP91 locks in and pools signal SegWit, BTC price will rally hard. Just like for Litecoin, market knows SegWit is awesome.— Charlie Lee (@SatoshiLite) July 20, 2017
Litecoin, along with multiple other altcoins in the top ten, has been known to react to sudden shifts in the Bitcoin price.
Bitcoin itself, meanwhile, had already been recovering from a serious dip over the weekend which saw it dive beneath the significant $2000 mark for the first time since May.
As details emerged of a $34 million Ethereum hack yesterday, Bitcoin broadly held firm as Ethereum’s own correction faltered.
Dash and Monero were also showing strong growth at press time, having increased 17% and 6.3% respectively. Dash had yesterday announced its return to the App Store as Apple reversed a decision banning it in August last year.