Old-School Bitcoin Hard Fork Altcoin Pumped by 82% This Week

Old-School Bitcoin Hard Fork Altcoin Pumped by 82% This Week

A Bitcoin hard fork altcoin from the past is gaining attention this week due to a surge in its value after getting listed on a new cryptocurrency exchange.

Buy Property with Cryptocurrency

Bitcoin Cash (BCH), which split from Bitcoin in 2017, has seen a 41% increase in value in the past 24 hours and a 62% increase in the past week.

At the moment of writing, the market value of the 20th-ranked cryptocurrency is $195.51.

Additionally, BCH was among the four digital assets that EDX Markets, a recently established digital asset marketplace, decided to endorse.

The new exchange is getting a lot of attention because it received a round of funding from financial heavyweights Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial.

EDX provides trading services for Bitcoin, Ethereum (ETH), and Litecoin (LTC). Interestingly, none of these assets were implicated in the recent unregistered securities charges against Coinbase and Binance by the U.S. Securities and Exchange Commission (SEC).

Despite BCH’s huge price pump this week, it still remains more than 94% down from its all-time high of $3,786, which it set all the way back in December 2017.

Bitcoin correction is around the corner

The trader, who goes by the name Bluntz on Twitter and has over 223,100 followers, believes that Bitcoin may undergo a corrective move after a five-wave rally that caused its price to rise from under $25,000 to over $30,000. Bluntz shared a chart that indicates BTC could fall below $29,000 before continuing to rise.

“This bull flag break unfolded perfectly and even pushed up into a fresh high marginally.

We can now see a five-wave rise on the four-hour chart so would not be surprised to see a bit of a pullback start here to trap all the late longers before the next proper leg higher.

Definitely not the spot to be FOMOing (fear of missing out) in now, in my opinion.”




Leave a Reply

Your email address will not be published. Required fields are marked *