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Massive Price Surge: Bitcoin Cash [BCH] hikes by 8% in an hour; Litecoin [LTC] and EOS up by over 6%

Febin Jose

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Massive Price Surge: Bitcoin Cash [BCH] hikes by 8% in an hour, Litcoin [LTC] and EOS up by over 6%
Source:Pixabay

After maintaining largely stagnant price movement, the collective crypto-market seems to be enjoying a massive run, at press time. Following the news about Bitcoin crossing the $6,000-market, almost all altcoins witnessed a sharp turn of events as the market momentum reversed and pushed the coins by significant amounts to break immediate resistances.

Source: CoinMarketCap

Source: CoinMarketCap

At press time, the top three altcoins painted green were Bitcoin Cash, Litecoin and EOS as they managed to surge by over 5% within a matter of minutes as they followed Bitcoin’s price movement.

Bitcoin Cash [BCH]

Source: Trading View

Source: Trading View

Bitcoin Cash, the fourth largest cryptocurrency on CoinMarketCap, was seeing a massive surge of 8.20%, at press time. Following the surge, the coin was valued at $295.43, with a market cap of $5.24 billion. The Bitcoin hard fork registered a 24-hour trading volume of $1.96 billion and was up by 6.54% over the past day. With the surge, the coin seems to have left bears behind and was up by 10.70% over the week.

OEX held 10% of the total BCH trade volume via the BCH/USDT pair, registering $202 million in volume. The second spot was held by LBank, which accounted for $197 million in trading volume via the BCH/BTC pair.

Litecoin [LTC]

Source: Trading View

Source: Trading View

Litecoin, following BCH closely, was hiking by 7%, at press time. The fifth largest cryptocurrency was moving in tandem with Bitcoin and was valued at $79.95. The silver coin held a market cap of $4.92 billion and registered a 24-hour trading volume of $3.76 billion. The coin held on to its earlier highs and was up by 8% over the day. The coin also followed Bitcoin Cash in abandoning the bear market and was up by 10% over the week.

Coineal held 14.85% of the 24-hour trade volume of Litecoin, registering $633 million in volume via the LTC/BTC pair. Coinall was second on the list and held $253 million in trade volume via the LTC/BTC pair.

EOS

Source: Trading View

Source: Trading View

EOS, the sixth largest cryptocurrency, joined the market rally and was up by 6% over the past hour. The token was valued at $5.14 at press time and held a market cap of $4.85 billion. The coin registered a 24-hour trading volume of $2.29 billion and was surging by 7.86% over the past day. Confirming the market’s stance against the bears, EOS was also registering a substantial gain of 10% over the past week.

FCoin held a majority of the EOS trading volume and accounted for $161 million in volume via the EOS/USDT pair. This amounted to almost 6% of the total trade volume. The second spot was taken by OKEx, which recorded a 24-hour trade volume of $141 million via the EOS/USDT pair.

With this unforeseen rally, it seems as if the bear market has come to an end. Many prominent analysts have also opined confirming this. eToro’s Mati Greenspan tweeted,





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Febin Jose is a full-time journalist/editor at AMBCrypto. He believes that cryptocurrencies will navigate a volatile future and that Arsenal can still win a title. Lives around the "if it sounds like writing, I rewrite it" mantra.

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