Bitcoin Cash Acquires Over 140% This Week

'
bch

Lately, the crypto markets have been experiencing an upward trend. However, a majority of the prices of leading virtual coins asset have witnessed good gains over the last one week. Approximately $132 billion is the overall market capitalization of all the coins that are in existence as of Sunday, 23rd December. On top of that, the international trade volume has significantly increased. This is considering the fact that it is the weekend before the Christmas holidays. Over the last 24 hours, a total of $20 billion has been traded.

The Crypto Bulls Are Still Reigning

On just the day before Christmas eve, there were more digital swaps than how it has been. This is unusual compared to the past few holiday trading sessions. Trade volume for some of the leading global virtual coins have significantly increased. This has happened since the great drop that went down two weeks ago. Over the last 24 hours, the leading ten coins have been up in value between 2 to 15%. This has greatly increased the market evaluation of the whole cryptocurrency market.

Over the last one week, Bitcoin Core has been up by 21.7% as well as 2.6% for the day. This value offers Bitcoin Core a value of approximately $3,991 per a single coin. It also offers it a new market capitalization of about $69.6 million. On top of that, Bitcoin Core currently has $6.2 billion worth of the whole ecosystem. It is important to remember that the ecosystem is $20 billion, which is worth of 24-hour international trade volumes.

The Bitcoin Cash’s Market Action

Bitcoin Cash has witnessed certain phenomenal gains over the past couple of days. These gains have tapered to some extent, but the crypto gained a total of 140% of the whole week. While each coin is trading at $197, Bitcoin Cash has gained nearly 4.6%. this Sunday, the list of the leading five Bitcoin Cash trading platforms that have been swapping the most of the coin. They include Lbank, Binance, Huobi, Coinbase, and Bitbank. Over the past 24 hours, BCH trade volume has been fairly high. It has been able to capture more than $160 million in trades. Bitcoin Cash has been the sixth most traded crypto this weekend, appearing right below Ripple and over the Litecoin markets. USDT is the leading currency pairs with Bitcoin Cash at 42%. Bitcoin Core and Ethereum follows at 21 and 19% respectively. US Dollar and Japanese yen are at 8.7 and 4.2% in that order.

The Technical Indicators For Bitcoin Cash And US Dollar

BCH/USD four-hour charts reveals one thing: bulls have the reigns and are still moving so strong. As at now, there is too much resistance between price above $225 and the current vantage point. The two SMAs still have a nice gap between them. However, 200 Simple Moving Average appears as if it would drop below the short term trend line of 100 SMA. This would mean a lot of things. But importantly. It would show that the path between towards least resistance would alter to the upside.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.