Since our last update, BTC prices fell as the Microsoft induced rally fizzled out. Bitcoin is now trading just above the $332 swing low. Peercoin and Litecoin have hit new multi-month lows. Alternative cryptocurrency Namecoin however is still trading strong, up over 6 percent since Thursday.
Bitcoin Nears $332 Again
Bitcoin is currently quoted at $333.77, just shy of the important $332 swing low. The move up sparked by Microsoft accepting BTC for some payments stopped at $356 and it’s been downhill ever since. In a pattern we’ve seen several times this year, after the initial euphoria ended, prices have come back down to erase all gains.
