Crypto Markets Extend Losses, Litecoin Falls below $2

Cryptocurrency markets ploughed fresh 14-month lows, the recent string of losses being the worst since mid-November.

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC/USD) fell as low as $260 on BTC-e, bringing its total losses for 2015 to 17%, reached in less than five days. On Bitstamp and Bitfinex, BTC hit a low of $255. It is currently trading at $270 on BTC-e on more relaxed volume, suggesting that at least a slight bounce is in the making.

As the selling reached a climax 24 hours ago, volume peaked to over 3,000 BTC ($80,000) per hour, its most active period since the aforementioned losses in November.

Litecoin (LTC/USD) also posted steep losses, at one point hitting $1.90 during a freefall of over 12%. Litecoin had not traded below $2 since October 2013. It is currently trading at $2.09. At this low, Litecoin has shed 30% so far this year.

Paycoin, however, bounced by over 40% after suffering losses of over 80% during the previous five days.

In dollar terms, most other major Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term are also trading lower, though by not as wide of a margin as yesterday. In bitcoin terms, most are relatively unchanged, perhaps a signal that the broader market will soon experience a reversal.

The LTC/BTC rate has climbed as high as 0.0078 after tanking to below 0.007 yesterday. The pair has shed as much as 19% in 2015 as litecoin has realigned with bitcoin and amplified its movements during major market moves.