Bitcoin Cash (BCH) Price Near $578.17; Moves Up For the 4th Consecutive Day, Nears 50 Day Moving Average

The Hourly View for BCH

Last Updated April 2, 2021, 23:16 GMT

At the moment, Bitcoin Cash’s price is down $-2.76 (-0.48%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Bitcoin Cash has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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

Bitcoin Cash closed yesterday up 2.64% ($14.28); this denotes the 4th consecutive day an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 8.33% from the day prior, and up 434.53% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 50 day moving averages, which may act as price barrier for the asset. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

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

  • From oscarsalas93:

    @KimDotcom I appreciate you supporting BCH. From someone who is been supporting Bitcoin Cash for years, having a voice like yours supporting this movement is amazing. I hope you stay for the long run!

  • From aww_tism:

    @lexfridman @nic__carter Hey Lex. Just 2 months ago there was a rasp pi 4 validating a 6 hr streak on BCH’s scalenet. Over the 6hr streak, there was 14 blocks, of which 11-12 were full (256MB – 1.3m tx) tx were generated at a rate of 1100tx/s.
    Bitcoin Cash is currently processing more tx than btc daily.

  • From thecryptokidd:

    When @Tesla accepts Bitcoin Cash for their vehicles and @SpaceX accepts Bitcoin Cash for off grid satellite internet with Starlink…things are going to start getting interesting.

As for a news story related to Bitcoin Cash getting some buzz:

Bitcoin vs Bitcoin Cash vs Bitcoin SV | CoinMarketCap

Some of the leading Bitcoin hard forks include Bitcoin Cash and Bitcoin SV….Others include Bitcoin Gold, Bitcoin Cloud, Bitcoin Classic, Bitcoin Private and many more.  Most of the forks are community-driven and are intended to add more functionalities to the conventional Bitcoin, or emanate from disagreements on critical features such as speed, transaction fees and block size….This was most recently seen when Bitcoin Cash was split into Bitcoin Cash ABC and Bitcoin Cash Node after a network upgrade, with the latter winning out in support and getting the BCH ticker on exchanges.  Importantly, after a hard fork, two decentralized networks cannot natively send messages between each other since they have no backward compatibility, unlike a soft fork….Bitcoin Cash is the second-largest fork of the Bitcoin network, next to BTC….‍ One of the visible differences between Bitcoin and Bitcoin Cash is the transaction fees….Although the costs fluctuate depending on either blockchain’s congestion, the Bitcoin network suffers from high transaction processing fees compared to Bitcoin Cash.