Weekly Altcoin Price Analysis: Cryptocurrencies Facing Storms Together with Bitcoin
What happens with popular Altcoins when Bitcoin price fluctuates - cryptocurrencies facing storms.
Bitcoin had a larger than usual fluctuation, gaining 20% in price only to drop 20% back to the original price range, Litecoin broke through it's ceiling reaching $3.80, $4 and $4.20 all the way to a peak of $4.35, only to fall back down to $3.50 where it is now. A correction back to $3.80 is probable.
The LTC/BTC pair exchange rate continues decreasing reaching 0.083-0.084. It is projected that if Bitcoin goes lower than $400 for too long Litecoin will most likely fall into a long depression.
DASH hasn’t shown any reaction on any changes in the Bitcoin price. DASH has reached a local bottom slightly higher than 0.057, then it jumped to 0.061 but continued the descending movement. It would be good for this cryptoccurency to reach the level of 0.056-0.057 again and to make a new start from it. It is nice to see that DASH has shown its independent character from other altcoins and their big brother Bitcoin.
The price of Dogecoin collapsed from its recent peak of 35 Satoshi. It is now holding at 30-31 Satoshi. However, last week it did manage to slip all the way to 29 satoshi which made buyers of the coin very happy.The price probably won’t fall below 30 Satoshi again anytime soon, which is a good sign for Dogecoin.
ETH at last overcame its descending trend, having shown a gain of 15% in a day. Buy orders lower than 0.002 remain favorable, perhaps for long-term investments too. But correction after such growth is now inevitable. However, let's hope it doesn't correct as hard as Bitcoin did today.
Easy movement was seen from 0.42 to 0.44 and then the price fell to 0.41. Looks like Peercoin was sleeping during Bitcon’s rally. PPC/BTC pair exchange rate continues to hold at 0.001.
The price of 1000 Neucoin already passed the ceiling of $10, which means that one Neucoin has risen to the value of 1 cent — an important psychological achievement. This sharp growth was due to Bitcoin’s rally, so today's Bitcoin corrections should lower Neu price to levels favorable to place buy orders - lower than $8 per 1000 Neucoin.