Bitcoin Cash Rebounds 6.4% as Bulls Defend Key Support Zone
BCH posts sharp V-shaped recovery after dipping to $391, as buyers return and momentum builds despite global macroeconomic pressures.
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Bitcoin Cash
BCH posts sharp V-shaped recovery after dipping to $391, as buyers return and momentum builds despite global macroeconomic pressures.
The imminent distribution of nearly $9 billion worth of bitcoin and bitcoin cash to Mt. Gox creditors have been a major overhang on crypto markets, with investors concerned about how much of those assets will be sold.
Both assets are being distributed in an ongoing process to creditors of the defunct Mt. Gox crypto exchange. Here’s how some traders are playing it out.
The news of the repayments added selling pressure on bitcoin and the larger crypto market after Mt. Gox announced last month its intention to start repayments in July.
Selling pressure from Bitcoin Cash (BCH) and lack of liquidity is the story to watch once Mt. Gox begins redemptions, writes Presto Research.
The cryptocurrency market shifted from bearish to bullish as the week ended, following nonfarm payroll data reported on May 3. … Continue reading
The post Short squeeze alert for May: 2 cryptocurrencies with skyrocketing potential appeared first on Finbold.
Bitcoin cash has been seen a proxy for the upcoming halving of rewards on the Bitcoin blockchain.
After a sudden decline earlier in the week, the cryptocurrency market has witnessed a modest revival, spearheaded by Bitcoin (BTC). … Continue reading
The post 3 cryptocurrencies to watch for the week appeared first on Finbold.
Analysts said BTC traders are probably waiting for macroeconomic signals before making a move, referring to the current market lull.
Bitcoin Cash (BCH) remarkably resurges on Easter Eve and is back to the top 15 most valuable cryptocurrencies by capitalization. … Continue reading
The post Bitcoin Cash’s Easter comeback amid impressive price surge appeared first on Finbold.