The Hourly View for BCH
Last Updated February 22, 2021, 23:16 GMT
At the time of this writing, Bitcoin Cash’s price is down $-4.66 (-0.74%) from the hour prior. This is the 2nd consecutive hour Bitcoin Cash has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Bitcoin Cash Daily Price Recap
The choppiness in the recent daily price action of Bitcoin Cash continues; to start today, it came in at a price of 706.88 US dollars, up 3.84% ($26.12) since the previous day. The change in price came along side change in volume that was up 27.57% from previous day, but down 44.58% from the Sunday of last week. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 3rd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Bitcoin Cash.
Bitcoin Cash Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin Cash’s price has gone up 18 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- From BitcoinCashCom2:
You guys really think BTC is worth 1/7 the market cap of Gold? lol. What you gonna do with these digits that you can’t use? Each time you use it, you lose $20 in fees.That’s why Bitcoin Cash is for everyone. You can use it thousands of times before you incur $2 in fees.
- From damxchange:
Bitcoin trading at 40x of on-chain transaction volume in dollar termsEthereum trading at 16xBitcoin Cash at 1.6xAssuming BTC & ETH set the standard & knowing BCH is doing the 3rd most transactions in dollar terms than BCH should be trading closer to 16x
- From BitcoinSV_AUS:
People still go around misinforming others about the Bitcoin Cash hard fork in 2018 by claiming nChain forced a split. BCHSV did not want a split & it was BCHABC that implemented contentious rule changes, centralized checkpoints & collusion with exchanges to enforce a split.
In terms of news links for Bitcoin Cash here’s one to try:
I have tried to keep my words short, but I hope this shortness does not make you underestimate the words….A very interesting list of reasons I hope it helps ^^ The signatures are still there in BTC’s chain, they are just kept in a different area in the block (segregated).