Bitcoin Cash News Today – BCH Joins Its Big Brother Bitcoin, Rises By Over 6% in 4 Hours – April 30th, 2020

Bitcoin Cash
  • Bitcoin Cash BCH Rises by 6.59% Against the USD With Higher Highs on the Way
  • The Bitcoin Cash BCH Price is Rising Along With Bitcoin and the Rest of the Cryptocurrency Market 
Bitcoin Cash BCH News Today – After the Bitcoin Cash halving, the price of the BCH token started to fall against the USD. It lost a major chunk of its value and the downtrend continued for days. Thankfully, the price of the token started to rise against the USD along with its big brother, Bitcoin. After the first 4 hours of the day, the token gained more than 5.26% against the USD testing the $271.59 level. This shows that it gained $13.58 within that period. Bitcoin Cash Bch was outperforming all the other top 5 cryptocurrencies until Bitcoin BTC gained major momentum and took the lead in the market.
Bitcoin Cash BCH News Today – Bitcoin Cash Makes Progress With Higher Highs on the Way
About two weeks ago, the price of Bitcoin Cash BCH was struggling in the $240 to $250 range. So, the move to the $271 level is impressive. In the last 7 days, the token has surged by 56.21% against the USD. It moved above the 200 day moving average which was located at $269.54. This was a key junction and it showed that the nearest trend is around the 90 day timeframe predicting an impending price correction. To be fair, it’s not unusual for the price of a token to kick start a downtrend after a major surge against the USD. Out of the last 10 trading days, the price of Bitcoin Cash BCH has been positive for the 7 days.
Bitcoin Cash (BCH) Price Today – BCH / USD
Bitcoin Cash
At the time of writing, the price of Bitcoin Cash BCH was already correcting lower against the USD trading at $255.55. This means that it is up by 3.13% against the USD and down by 6.35% against BTC. The trading volume over a 24 hour period is $5,853,116,277 and the market capitalization is $4,700,625,885. If the bulls can gather more momentum against the USD, there is a strong chance that the token will retest the $270 level. Otherwise, the price might face more resistance against the USD if it doesn’t retest the $269 level soon. Meanwhile, the price of Bitcoin BTC is moving higher and higher against the USD. At the time of writing, BTC was trading at $8,944.78. The next few hours and days of trading will determine if the token will keep rising against the USD or not. The rest of the market will most likely follow Bitcoin’s lead.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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