Bitcoin Cash has been a controversial name when it comes to the world of cryptocurrencies. The most popular Bitcoin Cash fork has polarized masses – as a large number of people support BTC while others support BCH. Over the months since its creation, Bitcoin Cash has managed to garner a lot of support and investment – as it is currently the fourth largest cryptocurrency by market cap.
Bitcoin Cash has shown in the past that it has the capacity to bounce big – similar to the currency it was forked off from. Over the past 24 hours, the currency has risen by 1.17% – a small rise compared to the massive gain that the week-long period had introduced. Nevertheless, the price went up from $743 to $757 – and the market cap rose from $12.6 Billion to $12.9 Billion – gaining $300 Million over the day.
The currency’s performance over the seven-day period was really impressive as Bitcoin Cash went from $650 to $757, with the lowest point of the week coming in at $628 and the highest point of the week coming in at $781. The currency’s market cap went from $11.1 Billion to $12.9 Billion over the week.
Bitcoin Cash price is expected to surge even further and reach the $815 mark in the short term – possibly over the next 24 to 48 hours. It is advised to set up a target of $799 and another of $812 – and keep adjusting them accordingly. A stop loss is also strongly recommended as the currency has proven to be quite volatile in the past.
Bitcoin Cash was a subject of major controversy over the past week as Twitter had decided to ban the @Bitcoin account which was pro-BCH. However, after outrage from the Bitcoin Cash community, the account was restored by Twitter.
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