It appears the total cryptocurrency worth uptrend will not be slowing down by any means. That in itself is a giant shock, though it’s a welcome sight total. Some currencies stay extraordinarily bullish throughout this time, whereas others content material with small to medium beneficial properties. For The Bitcoin Cash worth, the momentum is firmly in place.
How Excessive can the Bitcoin Cash Price go?
Whereas there was seemingly no backside in sight for many cryptocurrencies only a week or two in the past, it appears there’s a full 180-degree flip in phrases of momentum. With the manner issues are wanting proper now, it successfully turns into not possible to decide how excessive the values of particular person currencies can go in the future. If the Bitcoin Cash worth is any indication of what’s in retailer, the future appears extremely vivid.
Extra particularly, we’ve got seen the Bitcoin Cash worth rise from simply above $700 to $1,138 in the span of seven days. Such unbroken upward momentum is extremely uncommon in the world of cryptocurrency, although late final yr famous comparable momentum. Whereas it’s nonetheless too early to decide if historical past will repeat itself, something is feasible in the cryptocurrency trade as of late.
With one other 16.82% Bitcoin Cash worth improve over the previous 24 hours, there isn’t a finish in sight to this uptrend. Mixed with the eight.94% acquire over Bitcoin itself, the future appears fairly attention-grabbing for BCH as of proper now. As is at all times the case, stable upward momentum is normally met with a steep retrace sooner or later, and it’s doable we’ll see a quick retrace sooner or later.
With the present uptrend in place, it’s not shocking to see how the Bitcoin Cash buying and selling quantity is on the rise as effectively. With $1.019bn in the previous 24 hours, there’s a rising demand for BCH as of proper now. Whereas one would count on this quantity to be even larger given the present circumstances, it has been rising progressively over the previous few days.
OKEx has taken the lead in phrases of buying and selling quantity as soon as once more. There may be a variety of fierce competitors occurring in the high 4, as Bitfinex, HitBTC, and Huobi should not that far behind. This does present there may be a variety of consideration on BCH as of proper now, but it stays to be seen whether or not or not it will end result in a quick correction over the weekend.
For the time being, it appears seemingly the Bitcoin Cash worth will stay above $1.100 with relative ease. We might even see a small push to $1m250 by tomorrow night, assuming this present development can stay in place. Given the manner how issues have a tendency to evolve in the cryptocurrency world, this weekend might be fairly attention-grabbing to regulate.