Bitcoin Cash (BCH) Closes Prior Hour Down -0.92%; in an Uptrend Over Past 14 Days

The Hourly View for BCH

Last Updated February 12, 2021, 23:16 GMT

At the time of this writing, Bitcoin Cash’s price is down $-5.25 (-0.92%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward 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 530.47 US dollars, up 7.22% ($35.72) since the day prior. The price move occurred on volume that was down 25.39% from the day prior, but up 48.22% from the same day the week before. 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 day prior. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Bitcoin Cash’s price has gone up 10 them.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin Cash:

  • From GeorgeDonnelly:

    Hi @Uber , BTC coin won’t work for payments because the fees are too high and the wait times are too long.But Bitcoin Cash #BCH, ie the original #Bitcoin, will work great.Let us know if you need anything.

  • From KimDotcom:

    @shibley Bitcoin Cash now has as many transactions per day as Bitcoin and soon Bitcoin Cash will have the most transactions of all crypto currencies. Watch.

  • From DavidShares:

    @ErikVoorhees @danheld @APompliano Bitcoin Cash is solving payments just fine too. I know you catch flack for mentioning but it’s been going strong and plugging away with increased adoption, transactions, growth and development. CashFusion is cool for privacy and BCH has schnorr sigs now (before BTC) + SLP tokens!

For a longer news piece related to BCH that’s been generating discussion, check out:

What Is Bitcoin Cash? | CoinMarketCap

Those who disagreed were in the BCH fraction, who were concerned about Bitcoin’s ability to scale effectively with the growing number of Bitcoin users.  This split led to the creation of Bitcoin Cash, at block 478559 of the Bitcoin blockchain.  The primary impetus for creating Bitcoin Cash was to indirectly increase the transaction time by increasing block size….Bitcoin Cash increased the block size of its network to 8MB to facilitate transactions quickly….BCH also added a new transaction type to the network with features like prevention of the quadratic hashing issue.  As a fork of Bitcoin, Bitcoin Cash has the exact same total coin supply as BTC, namely 21 million BCH that will be mined for the next century.  ‍ In 2018, the Bitcoin Cash community split into two groups, once again largely caused by block size….17, 2020 Bitcoin Cash went through another fork, splitting the network into two new blockchains, the Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN)….Antpool mined the block that split the BCH blockchain, while Binance mined the last common block of the network.  Since the hard fork, BCHN has been receiving most of the support, with Bitcoin Cash’s price reaching new heights and miners mining more blocks on the network compared to BCH ABC….Find a BCH Exchange  Whether you want to purchase, trade, or hold BCH cryptocurrency, the following exchanges are the best: Coinbase is a fully regulated and licensed exchange that allows users from over 40 countries in the world to buy and sell Bitcoin Cash with several payment methods.