FYI.
– Bitcoin, Litecoin, and Bitcoin Cash Record Large Gains, as Altcoins Fall:
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Litecoin
Rotation Continues – Ripple Tops Ethereum As 2nd Largest Cryptocurrency
– Rotation Continues – Ripple Tops Ethereum As 2nd Largest Cryptocurrency:
For a brief period overnight, Ripple overtook Ethereum as the 2nd largest cryptocurrency (topping $71 billion in market cap) as the recent rotation from Bitcoin, Litecoin, and Ethereum into Ripple continued overnight.
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Cryptocurrencies Rip Higher As Dip-Buying Replaces Panic-Selling
FYI.
– Cryptocurrencies Rip Higher As Dip-Buying Replaces Panic-Selling:
Yesterday’s triple-legged panic-selling across the crypto-space, which saw Bitcoin and Ethereum down 30 and 40% respectively at their worst ended around 10amET and while the mainstrea media was happy to declare (once again) the death of Bitcoin et al., the entire crypto world has soared since – almost erasing the entire day’s losses.
Across the board, cryptocurrencies are soaring…
Which has pushed Bitcoin, Ethereum, Ripple, and Litecoin back to almost unchanged from Thursday…
Interestingly the collapse in cryptos appears to have been stalled by the limit-down halt in CME Bitcoin Futures – ironic really given the mainstream view that futures trading would be the end of cryptos.
Now, let’s not get too carried away as Bitcoin remains well off its record highs, but on the other hand a 45% bounce off the lows is nothing to shrug off…
Read moreCryptocurrencies Rip Higher As Dip-Buying Replaces Panic-Selling
Litecoin Founder Charlie Lee Cashes Out, Sells Entire Stake After 9,300% Rally
– Litecoin Founder Cashes Out, Sells Entire Stake After 9,300% Rally:
Charlie Lee, the creator of the world’s fifth-biggest cryptocurrency, Litecoin, announced shortly after midnight that he was cashing in his profits after a torrid, 9,300% rally in the past 12 months. In a post on reddit, the San Francisco-based software engineer who founded litecoin in 2013, said that he sold and donated all of his holdings over the past few days.
“Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin” Lee said in the post.
Read moreLitecoin Founder Charlie Lee Cashes Out, Sells Entire Stake After 9,300% Rally
Litecoin Price Tops $80 as Market Recovers from China ICO Ban
FYI.
– Litecoin Price Tops $80 as Market Recovers from China ICO Ban:
The crypto markets are in full recovery mode, having regained nearly $25 billion between Tuesday morning and Wednesday night. It seems that investors have realized–as prominent trader WhalePanda noted yesterday–that China’s ICO ban has a direct effect on very few crypto projects.
Litecoin Price Recovers Past $80
One cryptocurrency that took a beating during the downturn was litecoin. Heading into the weekend, litecoin was in lock-step with bitcoin’s record rally. As bitcoin climbed toward $5,000, the litecoin price crossed milestone after milestone, eventually extending as high as $92 on September 2.
Since litecoin’s climb had been so quick–it had gained nearly 50% in a week–it fell rapidly during the sell-off. By September 5 at 2:00 UTC, the litecoin price had dropped to $59.
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H/t reader kevin a.
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Crypto-Carnage Hits Entire Virtual Universe: Bitcoin, Ethereum, Litecoin Crushed
– Crypto-Carnage Hits Entire Virtual Universe: Bitcoin, Ethereum, Litecoin Crushed:
Extending its overnight decline, Bitcoin is now down almost 15% from last week’s highs, back at its lowest since June 16th… in fact all of the largest 30 virtual currencies are deep in the red…
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The Bitcoin Parabola Continues: Up 10% In 12 Hours, Hits $1170
– The Bitcoin Parabola Continues: Up 10% In 12 Hours, Hits $1170 (ZeroHedge, Nov 28, 2013):
Despite the US being largely on holiday, the demand for digital currencies continues to surge. Bitcoin has rallied another 10% overnight as Chinese appetite for alternative stores of value remains unabated (BTC China is nearing its record highs) as USD/BTC is trading at $1170 – on its way to crossing the Maginot line of gold’s spot price (within a few hours at this pace). Bitcoin though has nothing on its smaller cousin Litecoin which has now run from $1.11 to over $48 in the last 5 weeks. In fact, almost every crypto-currency in the world – from Infinitecoin to AnonCoin is surging… with only the ironically named PhoenixCoin (-68% overnight) not rising from the flames of fiat torment.
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