Bitcoin Cash hits $1.63 in the past 24-hours, getting the worst out of the top cryptocurrencies to start the day as it traded down by 9.53% so let’s read more in the latest bitcoin cash news.
Bitcoin Cash hits $1.63, up by 0.62% today since the last 4-hour candle, marking the 2nd straight candle. Out of the 5 instruments for the top cryptos asset class, BCH ended up at the 2nd place for the four-hour candle in terms of price change which is similar to the last 4-hour candle. The back and forth price flow for Bitcoin Cash started off at 264.19 US dollars marking a drop of 9.53% from the day before. The price move happened during a stronger volume mainly since yesterday’s volume was up 35.35% becoming the worst performer out of all 5 of the top crypto assets class during the day before.
The average crossovers are interesting especially since Bitcoin Cash crossed below the 20 and 50 day moving averages. The trend trades should observe that the strongest trend seems at the 90-day horizon while over the time period, the price was moving up. The trend in the other direction exists in the 30-day timeframe as the price is going down still. If you want to trade the primary trend, it could be a good chance to buy dips created by the counter-trends. Take into consideration that the Bitcoin Cash price increased by 15 of the previous 30 trading days.
BCH could undergo a third blockchain split with the proposed changes made by the team which will bring the miners a loss of 8% on their rewards for mining new blocks on the blockchain. The potential split caused controversy all across the community after the development team released a new version of its latest controversial upgrade.
It’s not clear whether the Bitcoin Cash will fork and create a new coin as a result of the division. The companies in the BCH ecosystem have rejected the plans to add the controversial mining tax during the upcoming November upgrade as evidenced by the text fragments that are included in the mined blocks. BCH miners have to choose to run a specific node implementation and there are two choices.
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