Bitcoin Cash [BCH] Retraces After an Almost 50% Spike in Price

2018-11-8 12:09

Bitcoin Cash has been retracing over the past two days after a movement which saw the fourth largest cryptocurrency by market cap increase in price almost 50%. The large price increase was spurred by announcements from exchanges that they would be supporting the upcoming hard fork of Bitcoin Cash and holders would receive the new forked coin at a 1:1 ratio. Buyers rushed to the market in anticipation of the forked coin being valuable resulting in the large spike in the price we have seen for Bitcoin Cash.

The price of Bitcoin Cash has since retraced from its recent high around $630 to trading at $590 today. Yesterdays drop was on significant volume showing there could be the real strength behind the move and that there is still significant trading activity in the cryptocurrency.

If the price of Bitcoin Cash does not drop below near the $550 point, it could be forming a higher low and set up for the next wave of buying. If it drops below this point, it will be a far more bearish situation, and the price could continue to drop to around $500 where the 50 EMA is trading.

Bitcoin Cash Daily Chart – Source: Tradingview.com Key Takeaways: Bitcoin Cash has surged almost 50% after announcements from exchanges that it will be supporting the upcoming hard fork. This has resulted in buyers rushing into the market to position themselves to receive the hard fork in a 1:1 ratio. Price has since started to retrace. If it does not drop below $550, it could be pricing in a higher low and set up for the next wave of buyers. 50 EMA is trading around $500 and may provide support if Bitcoin Cash continues its decline below $550. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Bitcoin Cash [BCH] Retraces After an Almost 50% Spike in Price was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68725.15 (+0.90%)
Объем 24H $18.713b
Изменеия 24h: 1.47 %, 7d: -0.67 %
Cегодня L: $67589.84 - H: $68725.15
Капитализация $1354.374b Rank 1
Цена в час новости $ 6376.56 (977.78%)

bitcoin cash price almost increase retraces bch

Источник: blokt.com

bitcoin cash → Результатов: 126


Bitcoin Cash $BCH Takes The Spotlight While Bitcoin Battles Selling Pressure 

Bitcoin Cash ($BCH) positions itself as a user-friendly solution for daily transactions, boasting minimal fees and swift confirmations, ideal for routine purchases and micro-transactions. Despite its designed convenience, concerns are surfacing as traders exhibit Fear, Uncertainty, and Doubt (FUD) towards assets like Bitcoin Cash and Loopring, reflected in a surge […]

2024-1-25 23:15


Каковы перспективы Bitcoin Cash после роста на 140%?

На этой неделе цена Bitcoin Cash (BCH) взлетела более чем на 100%, достигнув 13-месячного пика в $235. Ключевые ончейн-метрики указывают на возможность продолжения ралли. Во вторник, 20 июня, состоялся официальный запуск EDX Markets.

2023-6-30 12:56


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

SOL Price Breaks $150 – Why Solana Could Soon Test $180

Solana is gaining bullish momentum above $150. SOL price is showing positive signs, and it could even surpass the $162 resistance in the near term. SOL price started a fresh increase from the $138 support against the US Dollar.