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Jack Dorsey, the chief executive of micro-blogging social network Twitter, is taking further steps toward incorporating bitcoin and cryptocurrencies into his payments business, Square.


Dorsey said Square would be hiring three or four bitcoin and cryptocurrency engineers and also promising to pay them in bitcoin if they wanted.


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The Bitcoin community faced another crisis on Sunday afternoon as the price of the currency fell from $17 to pennies in a matter of minutes.


The initial problem leading to the price collapse was that one user tried to sell more than the market could absorb.


No, the doesn't necessarily mean the end of the Bitcoin experiment, but it's a pretty good indication of it.


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LTC/USD

From yesterday’s high at $91.53 the price of Litecoin has decreased by 6.16% and is currently being traded at $86. The price started moving with strong momentum to the downside on yesterday’s interaction with the horizontal support level from the prior upper range and continued on during the day.



On the hourly chart, you can see that the price of Litecoin has started falling below the second horizontal support level at $86.4 which is the ending point of the 1st wave of a higher degree. This means that the increase seen over the weekend was corrective as it ended as a three-wave correction. This was validated by the price going below $90.5 which was the significant invalidation point.

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