Facebook’s Global Coin Is A Threat to Bitcoin Cash, BCH Down 3.7%
BCH down 3.7 percent
Facebook’s Global coin will disrupt public chains like Bitcoin cash
Ethereum (ETH) in Free Fall, Down 34% Following Bitcoin Cash Idea
Wednesday July 17, 2019
Ethereum (ETH) slides 34 percent as bears step up Bitcoin Cash may be used to temporarily solve Ethereum’s scalability problems Vitalik has an audacious plan of integrating Ethereum with Bitcoin Cash before ETH 2.0...
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Because of Facebook’s broad base and active users exceeding 2 billion, the Global coin is an existential threat to Bitcoin Cash. Currently, BCH is consolidating against the USD, down 3.7 percent.
Bitcoin Cash Price Analysis
Perhaps, for the neutral, Bitcoin Cash is indeed what Bitcoin failed to be. That is Cash. According to Bitcoin’s whitepaper, the peer-to-peer cash system was, first of all, supposed to be a medium of exchange.
However, grappled with scalability concerns forcing transaction fees to spike, Roger Ver and a team formed a splinter coin. Calling it Bitcoin Cash, it is clear that the objective was to ride on the Bitcoin brand, from there market their platform and eventually replace Bitcoin.
Well, the idea was initially successful as BCH rocketed, but soon, despite the advantages, little to no use left the network exposed triggering a price meltdown. Bitcoin Cash is far from what it represents, and with low media transaction value, recent concerns of an intentional deep chain re-org, it is hard to convince spectators that the network is dominant.
That’s in spite of what Roger Ver and team insistence. Although they are actively building, the eventual rollout of Facebook’s Global Coin could deal a final blow to Bitcoin Cash. It may be too early to, but time will tell.
Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead?
Tuesday July 16, 2019
Bitcoin has made a bit of a recovery today in the wake of comments by US Treasury Secretary Steve Mnuchin. The 8 percent pump has left altcoins in the digital dust again as BTC...
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At the time of writing, Bitcoin Cash (BCH) is stagnating, down 3.7 percent in the last week. Although there are flickers of resistance, buyers have the upper hand. At least that is what we can glean from candlestick arrangement as well as the outstanding trend.
All the same, it will be ideal if there is a sharp break and close above $490 or May high. Such a move will be a pass for traders aiming for $600, satisfactorily reversing losses of Q4 2018. Note that bears are pressing lower.
The longer prices consolidate, the more sellers have a chance to push lower thanks to the bear reversal pattern after May 30th. Therefore, while aggressive traders can buy the dips as long as prices are above $340, conservative traders can wait for a surge above $490 before initiating longs.
In light of the above, May 30th candlestick leads this trade plan. It is wide-ranging with high trading volumes of 122k. Any surge or meltdown above or below $490 or $340 must be with high participation exceeding 122k. That will either confirm or nullify this trade plan.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Litecoin (LTC) Trading Volume Grows, Will $100 Stop Buyers?
Thursday July 18, 2019
Litecoin (LTC) recovery, adds 13.3 percent in 24 hours Ron Paul is a supporter of cryptocurrencies Despite FUD around cryptocurrencies, Litecoin bulls are active. Rejecting lower prices, LTC could float higher to $100 or...
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