News Bitcoin Cash sees slight gains, but signs point to...

Bitcoin Cash sees slight gains, but signs point to further bearish days ahead


- Advertisment -

The ebbs and flows of the crypto market press on, as many of the top-20 cryptocurrencies by market cap are seeing green today, according to data from Messari.

Bitcoin, for example, crossed the $8,200 temporarily, reaching the $8,204 per coin mark—a small increase of just 0.5 percent. Ethereum is currently trading at around $177 per token, nearly $5 per ETH increase from where it stood just 24 hours ago. XRP, meanwhile, remains more or less steady at around 25 cents per coin.

Be the first to get Decrypt Members. A new type of account built on blockchain.

Bitcoin Cash (BCH), Bitcoin’s “little brother,” if you will, is currently trading at around the $223 mark, an increase of just more than 2 percent over the last day. While this is good news for BCH holders, the currency lost quite a bit in value thanks to last week’s bloodbath. At that time, Bitcoin Cash was selling for more than $300 per coin. 

Meanwhile, technical charts suggest that Bitcoin Cash remains vulnerable to further bearish activity, according to FXStreet. The crypto is currently moving through a “bearish pennant structure,” though this could be the good news for day traders, as pennant structures can sometimes signify short-term results

The coin has nevertheless struggled to find support above the $250 per coin line, so if you’re into reading the tea leaves, it could be a while longer before Bitcoin Cash regains the losses incurred over the last week.



Please enter your comment!
Please enter your name here

Latest news

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether is one of the oldest altcoins and probably the most...

Banking Sector is Ready for a Tech Revolution With Cryptocurrency

When our world is going through a massive change due to COVID-19blow, it is very likely that...

OpenDAO’s Bridge Opens New Possibility for Mass Adoption of DeFi

When Satoshi Nakamoto officially created Bitcoin on January 3, 2009, his vision for the digital asset was...

Crypto’s price surge was mostly due to limited information – here’s why

As the world becomes more and more digitized, the usage of one of the most popular cryptocurrencies,...
- Advertisement -

U.S. Authorities Seized Bitcoin Worth a Total of $1 billion

The cryptocurrencies were in the possession of a person who had hacked Silk road, which was detected...

Top 12 BEST Crypto Trading Bots for 2020

TL;DR: In this article, we present a list of the best Crypto Trading Bots of 2020. If...

Must read

- Advertisement -

Read Next
Recommended to you