Bitcoin Cash (BCH) Is On The Rise - Going To The Moon?


Bitcoin generally acts as the bellwether for the cryptocurrency market which follows its highs and lows but when Bitcoin Cash was created few knew what the value of it would be.

Bitcoin Cash has a market capitalization of $15.55 billion and approximately $570.87 million worth of Bitcoin Cash was traded on exchanges in the last day. Its volume, price and market capital has seen a positive impact over the last 7days which the current numbers reflect.

Though nowadays Bitcoin still remains the most popular cryptocurrency and has a significant impact on the entire crypto market, some altcoins are gaining momentum.

The slight pull-back at the day's end will be of little concern, investors enjoying another day of support levels being left untested, with Bitcoin Cash having surged a whopping 43.8% Monday through Friday.

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Bitcoin Cash continued to perform exceptionally well, shooting up to $960 level and getting ready to test the $1,000 mark anytime soon. However, from the tie, it has been involved in upside and witnessed a high of $560 on April 19.

Arguing that Bitcoin Cash "is at the tipping point of becoming a widely used public blockchain", Bitmain explained that burning a portion of the network's transaction fees will strengthen its internal economy and help investors "profit from the growth of BCH". This was experienced when it improved close to the $900 price level but was involved in a downside. Currently, it has slightly dropped to the $959 price level. Going off the fibonacci numbers, we would like to see a second rally of support pick back up off the 0.786 level and take the asset beyond the 0.5 fib level at 17,000 Sats, which sits just above the strong resistance at 16,400 Sats, where we're likely to see some early selling pressure.

Ripple has been experiencing an upside trend this week.

Bloomberg takes note of the current rise has brought BTC's increases over the two-week time frame to very almost 29 percent, with an upward pattern for other major altcoins also: Ripple up as much as 19 percent, Ethereum up 7.5 percent and Litecoin, 4 percent. As a result, upside from the $0.65 level saw it attain the $0.75 price level now. However, on the downside, dropping below the $0.70 price level might attract more losses. Therefore, Ripple buying might improve the prices even to the $0.80 price level.