Sophia's Blog

Sophia's Blog

Bitcoin Cash rate is up to $3.31 from the hour prior

At the moment, BCH’s rate is up $3.31 (0.67%) from the hour prior. This move is a reversal from the hour prior, which saw rate move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Cash Daily Price Recap

The back and forth price flow continues for Bitcoin Cash, which started today off at 505.33 US dollars, up 1.9% ($9.42) from yesterday. As for how volume fared, yesterday’s volume was up 22.69% from the previous day (Friday), and up 4.43% from Saturday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 6th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Notably, Bitcoin Cash is now close to its 20 day averages, located at 521.6 respectively, and thus may be at a key juncture along those timeframes. Volatility for Bitcoin Cash has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 30 days Bitcoin Cash’s price has gone up 15 them.

Bitcoin Cash can be found listed at brokerage with ticker (BCH) where it can be purchased by purchase with a credit or debit card, it can be exchanged with US Dollars, Bitcoin Core (BTC) and many other traditional currencies (FIAT) as well as cryptocurrencies….Bitcoin Cash is much more advanced than Bitcoin Core, and has the ability to process more than 100 transactions per second whereas Bitcoin Core (BTC) only processes 6 transactions per second….To finish off, it is necessary to remember that BCH is a decentralized currency and a form of peer-to-peer electronic cash and payment.

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