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Bitcoin Cash has followed the general growth trend of Bitcoin with the price almost clearing the $250 resistance before being rejected. Even though BCH maintains this bullish momentum, it is not completely in the clear following its delisting from one crypto exchange.
Institutional crypto exchange EDX Markets removed Bitcoin Cash from its website after listing BCH at launch.
According to a recent report, the U.S.-based virtual asset exchange, EDXM or EDX Market, has confirmed its plans to delist the Bitcoin Cash (BCH) crypto from its trading offerings. The news has attracted the investors' attention while sparking curiosity and raising questions within the cryptocurrency community.
Bitcoin Cash price continues to languish below the $250 resistance this week. On-chain data analysis pinpoints the critical factors scuttling the BCH's bullish momentum.
The cryptocurrency market is currently experiencing a significant uptrend, signalling a robust and sustainable bullish momentum. This positive shift is characterized by a widening market breadth, indicating that a substantial number of coins are actively participating in the rally.
The crypto market is pulsating with new developments, with Bitcoin (BTC) reclaiming heights unseen since May 2022. The anticipation surrounding the U.S. spot Bitcoin ETF has invigorated market participants, triggering a substantial price push and a consequential short squeeze.
Taking support from the 50-day EMA, the BCH price manages to reclaim trend momentum and continue the prevailing trend. As Bitcoin shoots up with the anticipations of Bitcoin Spot ETF becoming trending, the major forks capitalise on the momentum.
Bitcoin cash price started a downside correction from the $270 zone against the US Dollar. The price is now trading above the $240 zone and the 55 simple moving average (4 hours).
The liquidation charts of Bitcoin Cash [BCH] showed that a move above $250 would likely reach $300 over a few weeks. However, short-term volatility could allow traders to profit as well.
The Bitcoin Cash (BCH) price recently retraced from the $265 level after scoring double-digit weekly gains. What are the critical factors holding back the BCH price rally?
A new Bitcoin Cash SV product launch reflected the impact of a product launches. Optimism toward a BTC-spot ETF market supported the broader market.
A widely followed crypto analyst is expressing bullish sentiment on Bitcoin Cash (BCH) after a sudden move to the upside. Pseudonymous crypto trader Altcoin Sherpa tells his 196,800 followers on the social media platform X that BCH could soar 25% from its current value.
Bitcoin cash is eyeing a fresh increase above the $235 resistance against the US Dollar. The price is now trading above the $220 zone and the 55 simple moving average (4 hours).
So it does seem that Bitcoin Cash is outperforming Bitcoin, but as the difference is small, it is worth extending the analysis to a longer period.
The price of Bitcoin Cash (BCH) is influenced by a myriad of factors, both internal to the BCH community and external, linked to the broader crypto market and global economic conditions. Here are the primary factors affecting its valuation:
In an unexpected turn of events, Bitcoin Cash (BCH) experienced a rollercoaster ride in the cryptocurrency market on Monday, as unverified reports initially suggested that the U.S. Securities and Exchange Commission (SEC) had approved BlackRock's proposed Bitcoin exchange-traded fund (ETF). The news sent BCH prices surging by an impressive 14%, reaching a peak of $242.77.
BCH hit key confluence area above $220. Will it derail the short-term pullback?
Sustaining a remarkable, bullish trend in 2023, the BCH price displays a remarkable growth of 135% year-to-date growth. With the ongoing Uptober season and the Blackrock ETF under review, the sentiments are on the verge of sparking a new hopium rally.
Bitcoin Cash (CRYPTO: BCH) gained as much as 12.4% to $244.62 during Monday morning before pulling back amid circulation of false rumors of the iShares Bitcoin Spot ETF receiving approval. BlackRock has refuted false information, confirming that their Bitcoin ETF application is still under review in response to claims by Fox Business journalist Eleanor Terrett.
Bitcoin cash was a huge gainer on Monday, as the cryptocurrency rallied by as much as 14% in today's session. The surge comes after Cointelegraph falsely suggested that Blackrock's bitcoin ETF was approved by the SEC. An apology has since been issued, following the mistaken report. Solana also hit a multi-week high on the news.
Bitcoin cash price started a fresh decline below the $230 zone against the US Dollar. The price is now trading below the $225 zone and the 55 simple moving average (4 hours).
Story Highlights BCH crypto price may reach a potential high of around $435 by the end of 2023. Bitcoin Cash price with a potential surge may reach up to $2,090 by the end of 2030. This is testing shortcode .
Failing to break above the $250 mark in the first few days of Uptober, the BCH price slides down the bearish alley. Moreover, the downtrend questions the spirit of Uptober this season as the overall market remains under acute selling pressure.
Savvy crypto investors—often dubbed “crypto whales” due to their sizable holdings, which can influence market trends have recently been setting their sights on a select group of altcoins, potentially aiming to capitalize on their prospective gains. Recent developments, such as the US Federal Reserve's (Fed) hint at pausing rate hikes and speculations around the approval of more futures exchange-traded funds (ETFs) in the U.S., are suspected to be the catalysts steering crypto whale interests, according to Marti, a recognized voice from the Altcoin Buzz YouTube channel.
