• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
<>
Sensei Inu Logo

Darkcoin Cashes on Bitcoin’s Uncertainty; Rises 11%

Yashu Gola by Yashu Gola
9 years ago
in Cryptocurrency Market News, Technical analysis
Reading Time: 2 mins read

Gradually emerging cryptocurrency Darkcoin performed fairly well in the BTC markets recently, rising from 743,310 satoshis to 814,565 satoshi between the Jan 31st and Feb 2nd trading session.

Screen Shot 2015-02-02 at 10.49.22

Before attempting this successful bull run, the DRK/BTC was trending sideways due to low trading volume. As you can see in the Cryptsy chart above, the trade volume spiked almost instantly during the 1/2 trading session, causing price to jump violently. Incidentally, it was around the same time when Bitcoin attempted to reverse from its prevailing downtrend, which it successfully did. So there might be a possibility that Darkcoin traders simply got influenced – an ideal scenario.

At the same time, Litecoin charts were almost non-reactive to Bitcoin’s reversal. It simply means that traders opted to shift their near-term profits to a cryptocurrency that was ten steps away from Litecoin (in terms of market cap). At press time, the BTC/USD price has sured around 3% in over the last 24 hours, while Litecoin’s has dropped 1.5%.

Possible Reasons Behind the Darkcoin Surge

We cannot deny the fact that Darkcoin was among the only top cryptocurrencies that survived the previous Bitcoin crash fairly well. With its developer Evan Duffield gaining fame after winning the ‘Proof of Honour’ award, and a multitude of projects lined up to release, the fundamentals around this coin are indeed supporting it. The Darkcoin price movements in the last few days could just be a pump that will soon transform into a fall. But for the long-term, traders are indeed optimistic about this anonymity-offering cryptocurrency.

Overall, it looks like a famous FIFO scenario (First-In-First-Out) as red candles are beginning to make their mark in today’s trading session. Better hold a little bit to confirm the longevity of this pump and sell on top.

Disclaimer: We hold no responsibility of the losses faced by following the aforesaid opinions. Its a volatile market in the end and could go haywire without an alarm.

Image Credits: Flickr and Cryptsy.

Tags: bitcoinbitcoin pricecryptocurrencydarkcoindarkcoin pricedrk btclitecoinlitecoin pricesatoshi
Tweet123Share196ShareSend
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Polkadot

Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty

2 hours ago
FTX

FTX CEO’s Asset Recovery Escalates As Sam Bankman-Fried Trial Looms

9 hours ago
CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance

CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance

10 hours ago
Polkadot parachains

Polkadot To Increase Parachains By 10X, Will This Support Free-Falling DOT?

13 hours ago
81 Fresh Binance Wallets Withdraw $31.58 Million LINK

81 Binance Wallets Withdraw $31 Million In LINK, What This Mean For The Altcoin

14 hours ago
Brave Zcash ZEC ZECUSDT

Privacy For All: Brave To Integrate Zcash Protocol On Native Crypto Wallet

16 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Arbitrum (ARB), Toncoin (TON), and Tradecurve Markets...

    22 hours ago
  • Top Meme and Utility Tokens to Watch Out For in 2023...

    22 hours ago
  • Bitcoin Miners Go Bankrupt As Bitcoin Spark Looks To...

    22 hours ago
  • Massive Potential Unveiled: Hedera, dYdX, Kangamoon, Poised...

    22 hours ago
  • Uwerx’s Recovery Blueprint Ignites Momentum With The...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.