Bitcoin Cash jumps to $250 over the past 4 hours, which means the altcoin started the day increases by 2 percent. In today’s BCH Bitcoin Cash news, we take a closer look at the price analysis.
Bitcoin Cash jumped into the 4-hour candle at $250 in USD which means that it jumped by 2% from the previous four hours. BCH jumped up ranking second for the four-hour candle in regards to price change compared to the previous 4 hours. Bitcoin Cash closed the previous day increasing by $6.27 which denotes the second consecutive day upward movement. The move happened during the lower volumes as the volume of yesterday was down 40% from the previous day and down by 24% from the same day one week ago.
Relative to some of the other top crypto asset class instruments, BCH ranked 3rd because of the terms of percentage price change of the previous day. The current price of b is getting close to the 200 day moving averages that often indicate a strong change in momentum which is worth keeping an eye on. The traders should observe which stronger trend will appear in the next two weeks.
As per the previous BCH news, we saw that The Bitcoin Cash price line closely follows the one of Bitcoin as of today right when the entire crypto market turned bullish. Some of the analysts believe that the cryptocurrency will soon break the resistance at the $267 level. The BCH/USD altcoin pair lays below the $242 level when the day was opened for trading and it saw a continuous uptrend movement over the course of the day. The cryptocurrency crossed the $257 level by 16:30 GMT while yesterday it ended the trading session at a value of $257. The BCH/USD pair saw another uptrend and the Bitcoin Cash price line moved across the $268 price point.
Also, A new system called the EARN IT Act threatens to kill end-to-end encryption and says that it is fully Bitcoin Cash powered. According to one developer working on the project, BCH is forming the ground base for all of the achievements. Within the system, anyone can encrypt a message as long as they have a Bitcoin Cash address. The message will then get written to the blockchain and only a person with that private key held by the specified address can decrypt it.
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