Even though the Bitcoin Cash price rise makes little sense to most people, things continue to evolve in an interesting decision. It seems there is some genuine buzz regarding the upcoming hard fork for this altcoin. This should make BCH more mature and appealing to investors, while also removing controversy associated with the mining difficulty algorithm. Right now, the Bitcoin Cash price hovers around $670. Bitcoin Cash Price Continues to Shock the World It is an interesting week for all cryptocurrencies, to say the very least. Whereas the Bitcoin price is dominating most of the headlines, the Bitcoin Cash price
Even though the Bitcoin Cash price rise makes little sense to most people, things continue to evolve in an interesting decision. It seems there is some genuine buzz regarding the upcoming hard fork for this altcoin. This should make BCH more mature and appealing to investors, while also removing controversy associated with the mining difficulty algorithm. Right now, the Bitcoin Cash price hovers around $670.
Bitcoin Cash Price Continues to Shock the World
It is an interesting week for all cryptocurrencies, to say the very least. Whereas the Bitcoin price is dominating most of the headlines, the Bitcoin Cash price trend can’t be overlooked either. More specifically, this momentum continues to surprise a lot of people, which is only normal. Not too long ago, one BCH was worth just $350, whereas it is now valued at $670. Such a massive growth isn’t unprecedented, but it comes at a time few people expected it to happen.
That being said, the Bitcoin Cash price momentum is still going strong as we speak. About 24 hours ago, we saw the price fail to reach $600. Although these temporary dips aren’t entirely unexpected, there is always the question of whether or not they herald a major retrace. So far, the Bitcoin Cash price hasn’t seen a major correction just yet, as the uptrend is still in full effect as we speak. In fact, the price keeps climbing, which will please a lot of early investors.
Over the past 24 hours alone, we have seen the Bitcoin Cash price increase by another 16.34% in USD value. Moreover, BCH keeps gaining on BTC as well, as the value is back to over 0.09 BTC thanks to another 10.39% increase. Achieving gains in both departments is pretty impressive for any altcoin, especially when it is Bitcoin Cash. Then again, no one knows how long this trend will continue for, as there are still a lot of questions which need to be answered.
For the time being, the Bitcoin Cash trading volume is nothing short of impressive. With over $2bn in volume over the past 24 hours, Bitcoin Cash is generating more volume than most other altcoins combined. That in itself is pretty impressive, to say the very least. It is quite remarkable how everyone is flocking to either Bitcoin or Bitcoin Cash right now, rather than established altcoins such as Ethereum or Litecoin. It is certainly possible this is only a temporary trend, although it is impossible to predict how things will evolve in the next few days and weeks.
Similarly to most days, Bithumb is still the place to be when it comes to buying and selling BCH. With over $1bn in trading volume, this exchange is clearly dominating the landscape. No over exchange comes even close, as the second and third platform by trading volume generates less than one-fifth of Bithumb’s volume. This situation seems difficult to maintain for much longer, although it remains to be seen if any negative impact will follow in the coming weeks.
In the end, one has to keep in mind how there is a lot of speculation associated with the current Bitcoin Cash price trend. Speculators are making a lot of good money in this regard, although there always need to be people willing to buy this altcoin whatsoever. Until BCH has the appeal Bitcoin has from a usability perspective, it remains to be seen how high this value can go in the future. A new all-time high isn’t out of the question either, though.