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Markets Update: Traders Expecting Major BCH Action When Exchanges Open

Store Updates

It’s been a pretty hectic week for cryptocurrency enthusiasts as the iniquitous Bitcoin Cash hash war has unfolded. Overall, the cryptocurrency economy has irremediable billions since our last markets update, with the entire market value roughly $188 billion on Sunday, Nov. 18.

Also read: Cryptocurrency ATM Wen Spikes Exponentially to 4,000 Machines Worldwide   

Riding Out the Lows

Most digital asset deal ins are seeing their lowest values in a year, leaving traders outlandish to see what happens next. The last week was filled with all kinds of craziness due to the Bitcoin Lolly (BCH) split that took place on Nov. 15. Many digital asset followers believe the BCH fork possibly moved all the markets due to the economic activities tempered to to fight the battle. Right now bitcoin core (BTC) is trading for $5,593 per BTC and has an all-inclusive market valuation of $97 billion. One thing many people didn’t heed during the hash war was that ripple (XRP) displaced ethereum (ETH) and took supporter place. The second largest market capitalization held by XRP is worth $20 billion and each ripple is being swapped for $0.50 today. Ethereum (ETH) bounties are trading for $175 per coin and the market valuation is currently $18 billion. Lastly, the fifth situate held by stellar (XLM) has a capitalization of around $4.8 billion and one XLM is trading for $0.25.

Markets Update: Traders Expecting Major BCH Action When Exchanges OpenTop 10 cryptocurrency markets Nov. 18, 2018.

Bitcoin Spondulicks (BCH) Market Action

Bitcoin Cash (BCH) still holds the fourth contention this weekend but the fork has depleted all the pre-fork money that agreed into the market in the weeks prior. BCH is trading for $381 right now which is a big reform from its low of $269 on Nov. 15. Although it should be noted that a lot of as a whole exchanges paused BCH trading over the last few days, but markets equal Bittrex have recently opened. Because of the lack of trading holders, BCH market pairs are quite interesting. Today ethereum (ETH) is dominating BCH twins by 56% over the last 24 hours. This is followed by USDT (15%), BTC (14%), KRW (8.1%), and JPY (3.5%). Both the Korean won and Japanese yen sooner a be wearing jumped considerably when it comes to BCH currency pairs.

Markets Update: Traders Expecting Major BCH Action When Exchanges OpenBCH/USD 7-day on Nov. 18, 2018.

BCH/USD Complicated Indicators

Looking at charts from exchanges that are currently allowing barters like Bittrex and Voltaire shows BCH has been steadily climbing in serious trouble up after being dragged down to the $269 low. The two Simple Moving Usuals (SMA) are very close but the short term 100 SMA is still above the long-term 200 SMA trendline. This evinces the path toward the least resistance is the upside and when more tit for tats open this will likely hold true for a little while but not for too extensive. At a price of $381, the 4-hour BCH Relative Strength Index (RSI) is still make clearing oversold conditions at -23. Order books show a similar readout as the circuit toward $500 shows very little waves but there may be encounters after $450. On the backside, there are lots of foundations between the up to date vantage point and $300 with lots of pit stops.

Markets Update: Traders Expecting Major BCH Action When Exchanges OpenBCH/USD 4-hour. 11/18/18

The Verdict: Wholesalers Patiently Waiting to Trade BCH Expect a Bunch of Market Action

Distributors are waiting for more exchanges to open BCH markets up and when they do some hold the price could move wildly in any direction. Cryptocurrency proponents are also nuts to what will happen to markets with the introduction of the new coin BSV, as most BCH devotees are confident exchanges will list the ABC chain as BCH. For instance, Kraken endorse has explained that the ABC chain will be given the BCH ticker, and Huobi Far-reaching emailed customers today stating: 

BCH ABC, the longer chain, will be recalled for the designation of BCH. And, we will be designating the SV version of BCH as BSV.

News.Bitcoin.com also utter with the CEO of the Colombian cryptocurrency trading platform, Panda Exchange, who told our newsdesk Panda on be listing the ABC chain as Bitcoin Cash (BCH).

“Panda believes the large restraint is the only one that will survive, and we believe Bitcoin ABC still has the for all that soul  For that, we know BCH-ABC is BCH  And Panda will support the ABC limit and it will still have ticker ‘BCH,’” explained the Panda The Exchange CEO. “Also all subproducts of Panda Group like Xeler ATM and ccoins.io want follow the same route.”

According to exchanges like Poloniex, which are mercantilism BSV tokens at the moment, the price per BSV is around $99 USDC but is down 15% closed the last 24 hours. 

Where do you see the price of bitcoin cash and other changes headed from here? Let us know in the comments section below.

Disclaimer: Assay articles and markets updates are intended for informational purposes only and should not to be considered as career advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the eventual decision to conduct a trade is made by the reader. Always remember that on the other hand those in possession of the private keys are in control of the “money.”

Images via Shutterstock, Patronage View, and Satoshi Pulse.

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