Despite the US being largely on holiday, the demand for digital currencies continues to surge. Bitcoin has rallied another 10% overnight as Chinese appetite for alternative stores of value remains unabated (BTC China is nearing its record highs) as USD/BTC is trading at $1170 – on its way to crossing the Maginot line of gold’s spot price (within a few hours at this pace). Bitcoin though has nothing on its smaller cousin Litecoin which has now run from $1.11 to over $48 in the last 5 weeks. In fact, almost every crypto-currency in the world – from Infinitecoin to AnonCoin is surging… with only the ironically named PhoenixCoin (-68% overnight) not rising from the flames of fiat torment.
Bitcoin is making new highs in USD…
Getting close in China…
and Litecoin is exploding…
Almost every digital currency is on fire… (via coinmarketcap.com)
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/hdQMmbMRk3g/story01.htm Tyler Durden