Categories: CryptoNews

Bullish Bitcoin Cash Price Momentum Remains in Place as $1,400 is Within Reach

Another day of cryptocurrency trading is upon us. Even though things started to look a bit worrisome last night, there is apparently nothing to worry about whatsoever. The Bitcoin Cash price further confirms things are looking pretty solid when keeping the bigger picture in mind. As of right now, one BCH is valued at nearly $1,400.

Bitcoin Cash Price is Extremely Bullish

Anyone who owns Bitcoin Cash as part of their portfolio will be quite pleased with how things are evolving as of late. Although the Bitcoin Cash price has been battered throughout Q1 of 2018, the recovery process is in full effect as we speak. Thanks to solid gains all week long, the Bitcoin Cash price has now risen to $1,395 once again. A more than respectable value, and there may be further positive momentum on the horizon.

With the Bitcoin Cash price rising from $800 to nearly $1,400 in quick succession, one has to acknowledge there will be a dip at some point. So far, all dips are being bought pretty quickly, which further signals bullish cryptocurrency momentum. While that doesn’t mean the Bitcoin Cash price will rise to $1,500 in the coming hours, anything is possible in the cryptocurrency world.

As is to be expected when the BCH value goes up, the altcoin is also gaining on Bitcoin. More specifically, the BCH/BTC ratio has improved by 19.72% over the past 24 hours, which is another bullish flag. These gains can be wiped out pretty quickly, though, but for now, the positive momentum will seemingly remain in place for some time to come.

Related Post

The Bitcoin Cash trading volume also tells an interesting tale. Over the past 24 hours, over $1.65bn in trades have been generated, which is still pretty impressive. This trading volume is not affecting Bitcoin’s bullish run either, which seems to indicate the cryptocurrency market is getting some fresh capital from speculators and investors.

As of right now, OKEx has reclaimed the lead in terms of Bitcoin Cash trading volume. Its lead over Bitfinex is pretty significant, and Bithumb completes the top three as we speak. A very interesting list of exchanges trading Bitcoin Cash, as there are also two fiat currency pairs in the top three. This may hint at a lot more bullish momentum to come in the coming hours and days.

Whether or not the Bitcoin Cash can continue to surge at this pace, remains to be determined. The positive momentum remains firmly in place, but there will be people taking profits along the way and looking to cash out some of their holdings in the process. Even so, the current momentum seems to hint at an imminent surge to $1,500 and potentially more.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

TRON Leads All Blockchains in November Fees as Perpetuals Trading Surges 271%

TRON ended November as the top blockchain by fees, extending its dominance in payment infrastructure…

1 day ago

Prediction Markets Hit New All-Time Highs as November Volume Surges to $14.3B

Prediction markets just locked in another breakout month. November closed with $14.3 billion in total…

1 day ago

Trust Wallet Launches Native Predictions: A New Era for On-Chain Betting

Trust Wallet is stepping into a completely new lane. The CZ-owned self-custody wallet has launched…

2 days ago

Kraken Acquires Backed to Supercharge Tokenized Equities as xStocks Enters Its Next Phase

Kraken has announced the acquisition of Backed, the tokenization platform behind some of the fastest-growing…

2 days ago

Sui Pauses & AVAX Rebounds While Zero Knowledge Proof’s 200M Daily Presale Auction Goes Live, Sparking Massive Buyer Rush

Sui Pauses & AVAX Rebounds While Zero Knowledge Proof’s 200M Daily Presale Auction Goes Live,…

3 days ago

Europe Takes Down Cryptomixer: A $1.4B Bitcoin Laundering Machine Falls After Eight Years

Europe just shut down one of crypto’s longest-running shadows. Germany and Switzerland, backed by Europol,…

3 days ago