Bitcoin has advanced five percent in 24 hours as Litecoin tops $50 again amid renewed enthusiasm in crypto markets. Averaged statistics from Coinmarketcap show a healthy uptick in top ten currency prices to press time Tuesday, with only Ethereum posting comparatively lackluster performance.
Having dropped as low as $2,320 last month, Bitcoin saw moderate peaks and troughs before finally retaking $2,600 - its first break since a slide from around $2750 June 24. Litecoin’s growth was much more pronounced, however, with a sudden surge back above $50 surprising traders.
The altcoin had increased from around $29 to break a $2 bln market cap in June, before dropping in line with Bitcoin and languishing below $40 until July 2. Litecoin creator Charlie Lee had much to celebrate this week. Meanwhile, his Litecoin Foundation receiving a further donation worth 666 LTC ($33,500) from Litecoin miner-manufacturer Innosilicon.
Read more here. Bitcoin is now awake and ready to make some roaring. Even before the August One "spectacle", the market confidence for Bitcoin is now gradually back. I am hoping that next week, Bitcoin can get more robust alongside its traditional allies like Ethereum, Litecoin and all the other top ten alts.
However, the cryptocurrency market is becoming one of the most unpredictable there is. It is indeed a roller-coaster ride where you can have so many swings from there and here. Volatility is always the name of the game here.
