Litecoin Price Mirrors Bitcoin's Plunge After China News
Over the past 48 hours of trading, bitcoin has experienced one of the biggest crashes in its history. At press time bitcoin is hovering around the $500 mark. The price dive was precipitated by Chinese regulators, who recently moved to ban third-party payment firms from dealing with bitcoin exchanges. The price began tumbling on 16th December, briefly dropping south of $700 and recording a 22% loss in just 24 hours. Since then, it has lost an additional $200 and earlier this morning the currency hit a low of $479. At press time bitcoin was trading at $542, 20% down from Tuesday's close of....
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The price of litecoin surged across major exchanges in anticipation of Huobi, one of the largest China-based digital currency exchanges, officially adding support for litecoin trading today. The exchange added to the anticipation after announcing the news last week by adding a 'moon landing' countdown clock to its site: As of press time, the price of litecoin on exchanges BTC-e and Bitfinex had hit a high of $20.25 and $20.33, respectively, before dropping to $19.35 and $19.39. These figures were up from opening prices of $17.49 and $17.50, according to data from BitcoinWisdom. Against....
After yesterday’s success Litecoin turned as red as a beet and slowly slide down. The Litecoin price correction is likely to continue during this weekend and on Monday. So, if the price range of $3.50—$3.70 has been a tough row to hoe for Litecoin, the question is if we are going to see it in the $3.20—$3.50 soon. Well, not sure. The upper border of the price corridor occurs at the level $3.50, but its lower edge is still unclear. The key factor dragging Litecoin down is China. Its cryptocurrency market depends heavily on the country’s stock market. As China’s stock exchanges revive,....
Could it be? For those of you who missed it (most of us), the second Bitcoin convention "Inside Bitcoins - the future of virtual currency" was held in Las Vegas, Nevada on December 10-11. There were many prominent speakers, including Bobby Lee, CEO and co-founder of BTC China. As most of us know, BTC China helped cause the massive spike in Bitcoin prices recently. And now, something similar could happen for Litecoin. Litecoin is the second most popular cryptocurrency; many have compared it to silver as they compare Bitcoin to gold. However, although Litecoin was meant to be worth 1/4 the....
While everyone was preoccupied with bitcoin price drops after last Friday's 'fake Chinese bitcoin ban' news incident, something even more dramatic was happening at China's largest exchange, Huobi, and its new litecoin trading system. A 'flash crash' on the exchange saw the price plunge to just 1 RMB (Chinese yuan) a short time after a hoax news report of a complete government ban on digital currencies was posted on microblogging site Sina Weibo and reported by Sina's financial news service. The number of trades executed at that price is unknown, as is the total amount of money lost -....
Exchange BTC China is introducing litecoin trading, effective immediately and with 0% commission. It will become the first widely-used exchange after BTC-e to trade the world's second most popular cryptocurrency. CEO of BTC China, Bobby Lee, announced the move this morning, saying "users have been clamouring for this for ages". Digital currency watchers will also note that BTC China's CEO, Bobby Lee, is the elder brother of litecoin inventor Charles Lee. BTC China's banner for the announcement also reads "Brothers Reunited". Lee acknowledged that his fraternal relationship with Charles was....