Lots of exciting matters are occurring in the world of cryptocurrency. After a completely difficult weekend, matters are slowly heading on the right course once more. A variety of markets are noting double-digit percentile profits. If the Bitcoin price is any indication, things will get quite interesting.
It has ended up obvious all cryptocurrencies continue to be related to Bitcoin’s market momentum for the time being. At the same time as this correlation between Bitcoin and altcoins has been present for quite some time now, there has been a time when a few exchange currencies appeared to decouple from Bitcoin. To this point, that hasn’t materialized in any predominant trends. But we can hope matters enhance. Until then, the Bitcoin rate will keep following a pattern of Bitcoin’s.
To look into this situation, the Bitcoin cash price has risen by 12.07% since yesterday. That is quite a good development, although it still remains to be seen how long this current trend can be maintained. It’s also interesting to be aware how the Bitcoin rate has elevated by a similar percentage since yesterday.
It’s also worth noting the Bitcoin cash price has lost some momentum as compared to Bitcoin. Especially the BCH/BTC ratio reduced by as much as a good deal as 0.47%. This has no longer impacted the Bitcoin cash price in a bad way, but it is still something to keep in mind always. Most people are interested in seeing whether or not Bitcoin cash price can get to $1,250 later today. For now, that seems very hard, even though matters can flip round pretty quickly in the world of cryptocurrency.
With $537.51m in 24-hour trading volume, things aren’t looking all that amazing for Bitcoin cash. It is more than enough trading volume to maintain the current Bitcoin cash price trend going, although it is uncertain if this volume increase. One would assume BCH to net at least $1bn in 24-hour volume at all times.
Now, OKEx continues to be the world’s largest exchange in terms of BCH trading volume. Their BTC and USDT trading pairs are ahead of HitBTC’s BTC market. There is no fiat foreign currency market in the first three, but Bitfinex’s USD market is in fourth place with almost $40m. It’ll be interesting to see how things go from here, as there’s nevertheless loads of advantageous momentum on this market as we speak.
For the time, we are able to wait and see how the Bitcoin cash price will rise. The price of $1,132 cost appears to be greater than warranted, although it is possible things will enhance soon. Whether or not that means we will see the Bitcoin cash price increase to $1,200 or probably later is yet to be decided. Anything can happen in the world of cryptocurrency.