Bitcoin Cash Price Recap
Bitcoin Cash is down 5.87% since yesterday, marking day in a row it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 2.87% from the day prior, and up 6.6% from the same day the week before. Those trading within the Top Cryptos asset class should know that Bitcoin Cash was the worst performer in the class. The price chart of Bitcoin Cash below illustrates.
Bitcoin Cash Technical Analysis
First things first: Bitcoin Cash crossed below its 20 day moving average yesterday. Related to the moving average crossover is that Bitcoin Cash’s momentum/trend on a 14 day basis may be decelerating. Volatility for Bitcoin Cash has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- From BullyEsq:
Bitcoin Cash also has a larger market cap than The Gap (GPS), which has a market cap of $6.84 billion.Gap Inc., which owns Gap, Banana Republic, Old Navy and Athleta has approximately 135,000 employees and operates 3,727 stores worldwide, of which 2,406 are located in the U.S.
- From derykmakgill:
‘My view is that Bitcoin Cash strongly resembles the Bitcoin community of 2014. This is not good. That experiment was tried and it didn’t work. It’s tempting to think that what happened was a freak one-off occurrence, but I don’t think it was.’- Mike Hearn
- From vinarmani:
I am most excited about the prospect of reliable funding for BCHD that can be put to use implementing rock solid SLP indexing to go with their already rock solid BCH indexing (I switched my nodes to BCHD months ago).It’d be a massive level-up for Bitcoin Cash. Major win.