Bitcoin Price Sees Moderate Pullback, Litecoin Surges Over 110% in a WeekFX168 Financial News (Hong Kong) reported that Bitcoin prices traded moderately in Asia on Thursday (May 11), pulling back slightly from yesterday's highs. Quotes released by OKCoin showed Bitcoin/CNY briefly surged to 10449 yesterday, while trading moderately at 9990 during the Asian session today
Bitcoin Price Sees Moderate Pullback, Litecoin Surges Over 110% in a Week
FX168 Financial News (Hong Kong) reported that Bitcoin prices traded moderately in Asia on Thursday (May 11), pulling back slightly from yesterday's highs. Quotes released by OKCoin showed Bitcoin/CNY briefly surged to 10449 yesterday, while trading moderately at 9990 during the Asian session today.
(Bitcoin/CNY 30-minute Chart Source: OKCoin)
OKCoin also reported that Bitcoin/USD reached 1708 yesterday, and is currently trading moderately around 1660 during the Asian session.
(Bitcoin/USD 30-minute Chart Source: OKCoin)
Beyond Bitcoin, OKCoin noted that Litecoin has also seen a continuous rise since the beginning of May. On May 2nd, OKCoin listed Litecoin at 88 yuan, while on May 10th it climbed to 185 yuan, representing an increase exceeding 110% within a week.
According to OKCoin analysts, Litecoin was inspired by Bitcoin and shares the same technical implementation principles. It utilizes a decentralized, open-source cryptographic protocol for creation and transfer, free from control by any central authority.
OKCoin analysts attributed the recent surge in Litecoin prices primarily to the upcoming activation of SegWit. Other contributing factors include Coinbase wallet's official support for Litecoin transactions, and the launch of Litecoin trading on platforms in the United States and South Korea.
As of 11:18 Beijing time on May 11th, Bitcoin/CNY is trading at 9992.11, and Bitcoin/USD is at 1659.09.
Proofread: becky
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