It would appear the Bitcoin Cash price rally is still in full effect as we speak. More specifically, we have seen a Bitcoin Cash price increase for two days in a row now, which is pretty interesting, to say the least. Whether or not this will be another temporary trend or a sign of things to come in the future, remains to be seen, though. For now, the momentum clearly favors BCH, but that trend may change any given moment these days.
It is pretty impressive to see how the Bitcoin Cash price has evolved over the past two weeks. Although the initial spike to $2,500 and beyond has been considered to be a pump-and-dump, the value of BCH has not collapsed entirely just yet. In fact, the Bitcoin Cash price has successfully remained above $1,000 for quite some time now, despite the price dip to $885 not too long ago. This seems to indicate the BCH value will remain around this level for quite some to come, although nothing has been set in stone.
The past 24 hours have been pretty solid for the Bitcoin Cash price as well. Despite hovering near the $1,100 mark for some time, the price eventually started moving up again. After reaching $1,380 not too long ago, the price has slowly started to come down again. Right now, the goal is to find a decent level of support in the $1,250 range, although that will not be easy by any means. After all, the market is pretty volatile in
How the Bitcoin Cash price will evolve in the hours and days to come, remains anybody's guess right now. A lot of supporters would like to see the value per BCH go back towards $2,500 in the near future, but that may not be all that easy whatsoever. In fact, it may never happen again, for all we know, even though things are looking pretty solid as we speak.Then again, there is still a lot of work to be done before this altcoin can even be considered to be a mainstream trend, to say the least.
With over $3.34bn worth of trading volume, things are certainly looking good for the Bitcoin Cash price right now. This strong trading volume has been present for quite some time now, and it doesn't appear things will change in this regard over the next few days. If there wasn't such a demand for BCH, this volume would not reach such heights in the first place. It is evident people enjoy trading Bitcoin Cash right now, although it remains to be seen how much of it is based on speculation first and foremost.
As has been the case for nearly two full weeks now, the Bitcoin Cash trading volume is mainly dominated by Bithumb these days. Their volume still represents over 40% of all BCH trades so far, which is pretty interesting, to say the very least.So far, this doesn't appear to have any negative impact on the Bitcoin Cash price, although it remains to be seen how this situation evolves in the days to come. Coinone is in second place, although the gap with Bitfinex is pretty small. An interesting situation well worth keeping an eye on, that much is certain.
All of this goes to show the Bitcoin Cash price speculation is far from over right now. There is still a lot of momentum in place to keep pushing the value toward $1,500. At the same time, we may see the Bitcoin Cash price drop again in the coming hours. No one knows for sure how this situation will evolve, but things are looking pretty positive for now.