In the world of cryptocurrency, there is no such thing as a boring day. More specifically, we see something interesting occur pretty much every single day. Right now, the Bitcoin Cashprice is of great interest to a lot of people, which shouldn’t come as much of a surprise. Despite an earlier rise to $3,000, the Bitcoin Cashprice has dropped to $2,500 again. However, it seems likely BCH will make another run at $3,000 before the week is over.
Bitcoin Cash Price Momentum Intensifies
With the Bitcoinprice not in the best of places right now, it only makes sense cryptocurrency enthusiasts look for alternative solutions. It seems most of those users are showing an interest in Bitcoin Cashright now. While no one knows for sure if BCH can ever displace Bitcoin as the world’s leading cryptocurrency, there are plenty of reasons to keep an eye on the Bitcoin Cashpriceright now. Despite the onslaught affecting Bitcoin’s value, BCH has remained relatively stable in comparison.
To put this into perspective, the Bitcoin Cashprice has not dipped below $2,250 in the past week. Although some people expected this altcoin to drop well below $2,000, nothing of the sort has happened. This further confirms Bitcoin Cash is in a good placeright now, even though most people wouldn’t mind seeing the price go up even further. Such a trend begun forming late last night, although it originally began a few days ago. With the Bitcoin Cashprice mounting a surge to $3,000 two days ago, an interesting trend was created.
Unfortunately, this trend could not be maintained for long, as the Bitcoin Cashprice eventually dipped below $2,300 again. However, a new attempt to reach $3,000 was launched a few hours ago. Despite reaching the value, the price was rejected again in quick succession. Right now, one BCH is valued at nearly $2,500, which seems to be the middle ground, for the time being. Rest assured this is not the last attempt to reach a value of $3,000 per BCH, though.
With over $2.55bn in 24-hourtrading volume, no one can deny the demand for Bitcoin Cash is rather substantial right now. Although plenty of people took profits during these somewhat volatile times, the overall sentiment seems to be on the bullish side of the spectrum. It is evidentpeople are scalping profits for any cryptocurrencyright now, but it seems to be a matter of time until the Bitcoin Cashprice stabilizes at the $3,000 level.
The vast majority of BCH trading volume originates from an unexpected entrant. More specifically, it is the OKEx exchange which has most of the volume, as they carved out a $40m lead over Bithumb. Bitfinex completes the top three as we speak. With tow fiat currencymarkets in the top 10, fresh capital still enters the BCH ecosystem on a regular basis. Even though the Korean prices are no longer relevant on CoinMarketCap, it shows the demand is not slowing down anytime soon.
How all of this will play out for Bitcoin Cash, remains to be determined. Right now, the Bitcoin Cashprice seems to be holding its own with relative ease, despite the massive volatility affecting all other cryptocurrencymarkets. Whether or not this will result in any solid long-term gains, has yet to be determined. Anything is possible at this point, and we have not seen the last of major shakeups in the world of cryptocurrency just yet. It is well worth keeping an eye on everything that is happening right now, and the Bitcoin Cashprice is no exception in this regard.