Bitcoin

Bitcoin Cash Price Bullrun Continues After Hitting $300 Again

TheMerkle Bitcoin Cash Price 3000

Based on the current cryptocurrency momentum, it will be interesting to see which markets can remain afloat over the coming days. Although Bitcoin is still in the green, it dropped below $5,000 once again. Interestingly enough, the Bitcoin Cash price sees this as a signal to turn bullish yet again. Most of its gains are still intact, and it seems the $300 level will hold true for some time to come.

Bitcoin Cash Price Surge Resumes

It is evident the current overall market momentum isn’t too promising as far as most altcoins, tokens, and assets are concerned. This momentum will always be subjected to change, but as Bitcoin dropped below $5,000 again, most of the positivity has been eroded in the process. Interestingly enough, it would appear Bitcoin Cash shows no signs of slowing down by any means. Despite noting over 70% gains in the past few days, it is still going strong even when Bitcoin is coming under a lot of pressure.

To put everything in perspective, the Bitcoin Cash price has gained another 11.5% in both USD and BTC value today. This pushes the current price to $304.51, or 0.061 Bitcoin. Very promising trends when looking at the bigger picture, although it will be interesting to see how long all of this can be sustained for. The BCH trading volume is also picking up steam, as nearly $4bn worth of BCH has changed hands across the exchanges in the past day.

The big news of the day is how Huobi DM will launch Bitcoin Cash contracts, according to Crypto Sarah. This new feature is expected to become available tomorrow, and users will also be able to leverage their position. It is another offering to bring more exposure to Bitcoin Cash as a whole, although it may not necessarily have an impact on the BCH value itself. Even so, it is another notch in the belt of this ecosystem, which is always a good sign.

For those who keep a close eye on the BCH chart as of right now, there is a lot of interesting potential waiting to be unlocked. If this uptrend continues, it seems BCH will finally break out of the downward spiral in a decisive manner, which will make a lot of traders rather happy. As is always the case, though, there is a genuine chance things will not work out as planned, as it will mainly depend on how dire the Bitcoin price situation gets.

Xloutpa seems to share a similar sentiment when it comes to Bitcoin Cash. More specifically, there is a big “gap” waiting to be filled in terms of reaching a potential new all-time high further down the line. For now, that remains well out of reach despite the bullish momentum in place right now. With the weekend not too far off, it would appear this market can easily swing either way in quick succession.

At this time, it is evident Bitcoin Cash performs better than most other markets as of right now. Its gains are still in place as of right now, and the trading volume continues to rise every single day. How that will affect the value, is a different matter altogether. Sustaining the $300 level should not necessarily be a problem, although one never knows what the future may bring.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

The post Bitcoin Cash Price Bullrun Continues After Hitting $300 Again appeared first on The Merkle Hash.


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