Bitcoin Cash community is very optimistic post the recent gains.
Apr 15, 2018 Posted / 1396 Views
In recent days Bitcoin cash has received more infrastructure and support from the various businesses that operate on cryptocurrencies. Post a big dip in the market which affected the entire crypto market system, the currency has been observed to be holding steady and also it experienced an increase in the trade volume.
Since it's advent in August 2017, the Bitcoin Cash blockchain is ahead of the core Bitcoin blockchain by 8037 blocks. It is operating at 11.8% of BTC chain's difficulty. Also, it is 4.8% more profitable in mining than BTC presently.
Since its introduction in the market, the Bitcoin cash has observed an exponential surge in its value with the current price being around $1,225. Over the past 48 hours, the currency also saw a huge increase in the trading volume with $400Mn transactions each day.
The 100-day simple moving average is above the 200-day simple moving average after crossing just hair's breadth, recently. It clarifies that the resistance is on the upside and also the bulls have an opportunity to regain the $1,650 high that it had reached on February 18. Following the tightly correlated moments of the Bitcoin market, RSI and statistic oscillators are riding upwards. The reports show a big sell wall at $1,300, after which it doesn't seem to have any issues. It also seems to have problems at $1,600 and a psychological $2,000, if the market manages to cross the resistance. The Bitcoin cash market is expected to have a bearish trend while other cryptocurrencies are gaining from the previous week's downward trend.
It is clearly evident that the currency ’s market volume is increasing. A multiple cryptocurrency asset exchanges, launched by the Indian Company, Unocoin has included Bitcoin cash. Bitcoin cash is also predominantly used by the multi-currency client launched by Bread, a popular wallet provider.
“We have to build a fully autonomous SPV wallet, and it has to work — We can’t get away with standing up some bitcoin-ABC nodes and changing some RPC calls. That being said, it’s already done and in final testing phase. In fact, if you’d like to test, please email me,” explains a developer from Bread.
The Bitcoin cash enthusiasts are very optimistic about it and expect trading volume to increase furthermore. In the following spring, there are two big conferences which will be completely dedicated to the discussion for the development of the Bitcoin cash. organized by Bitcoin Unlimited and Coingeek.
Also, a lot of intense discussions is being carried on for the development of the colored coins. the Bitcoin cash community is discussing it with great interest. The community is also waiting for the sanction of invoices by the cryptocurrency exchange bitpay, which will, in turn, make the cryptocurrency more usable by making it available to a vast number of merchants and service providers that accept the cryptocurrency payments.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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