Connect with us

Bitcoin Cash

Bitcoin Cash [BCH], soaring high in the sky! – Sentiment Analysis – April 23

Vinod KA

Published

on

Bitcoin Cash [BCH], soaring high in the sky! - Sentiment Analysis - April 23
Source: Pixabay

Bitcoin [BTC] and Ethereum [ETH] are back in the green zone and the market capitalization has crossed the $400 mark. Bitcoin crossed the $9000 mark recently but it could not stay above the mark. At 12:53 PM UTC, the total market capitalization was at $400.390 billion.

The Bitcoin dominance stands at 37.9%. Bitcoin is currently pushing its price towards the $9000 mark and the coin currently has a market capitalization of $151.554 billion. Experts are of the opinion that the hike in Bitcoin’s price may be due to the crash in the stock market. The biggest gainer in the last 24 hours is Bitcoin Cash [BCH] with a major gain of 19.87%. The coin also gained by 1.85% in the last 24 hours.

Stellar Lumens, after staying green in the last week has gone into the red zone with a 1.725% loss in the last 24 hours. After Ripple [XRP], Stellar is the next to have had a loss.

Our sentiment analysis segment provides you with quality sentiments of people from around the world and their valuable comments are recorded in this segment as it is. The expert opinions of people are based on the current market trends and possible outcomes of the coins. This is done after interviewing a group of analysts, investors, skeptics, miners, influencers to ensure that our readers get a wholesome picture of the market. This analysis is on Bitcoin Cash [BCH] which is currently at the 4th spot in the rankings.

Bitcoin Cash [BCH]

At 1:10 PM UTC, Bitcoin Cash was seen to be trading at $1423 with a market capitalization of $24.319 billion. The coin still retains its upside momentum and is seen to be testing the resistance. The target set for the coin is at $1540 which also is the point where it stopped the upside momentum last February.

The coin went to a high of $1459.7 which is the highest mark since February. The hourly charts indicate a bearish trend for the coin as the MACD is about to cross and the RSI is heading towards an oversold position.

Lisa May, a banker from Chester says:

“There is a bearish trend waiting in line for the coin and it may take it down to the swing lows. It may take it down till the $1000 level but soon will be reversed with a major bullish reversal. This bull run will take the coin up to the $1500 level. ”

Matthew Fowler, an altcoin miner from Mexico City says:



“Do not give in to the FUD regarding Bitcoin Cash that is perpetuated by the Bitcoin loyalists. The advantage of BCH is in its near non-existent transaction fees making it superior for person to person transactions. Target for the coin is possibly at $1600 and after which it may dip a little to come back to the next target at $2000.”

Kim Thomas, a journalist from Brisbane says:

“The cup and handle formation resulted in a price action that shows a bull flag with slight downward pressure before breaking out of the overhead resistance. The upside is capped with a resistance at $2011 and the immediate resistance is at $1473. If this is broken then there is chance of the coin hitting the $1780 mark.”

To conclude, 55% of the Bitcoin Cash respondents feel bullish and they are of the opinion that the bull will take to the $2000 level soon. Another 45% of Bitcoin Cash respondents feel that the coin may form another cup which may take it down to the 1000 level.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Vinod KA is an intern at AMBCrypto who has been analyzing the cryptocurrency market trends for several months now. He joined the company out of sheer interest in the cryptocurrency world and is fascinated by its dominance in the financial world. He does not hold value in any cryptocurrencies as of now.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Guest Author

Published

on

Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending