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Bitcoin Cash SV Price Surges by 15% Following Heavy Trading Volume

Today is not necessary the interesting day for most cryptocurrency markets, yet there are always peculiar developments taking place. Although the discussions between Bitcoin Cash and Bitcoin Cash SV has calmed down significantly, the latter currency is noting some strong gains in the price department. That is a promising sign for this fork of BCH, and further confirmation different views can succeed side-by-side.

Bitcoin Cash SV Price is Rising Quickly

Ever since the Bitcoin Cash network protocol upgrade last week, there has been a lot of confusion as to what the future will bring. Bitcoin Cash as people know it is still around, yet a separate currency has been created in the process. The forked version is called Bitcoin Cash SV, and still controls nearly half of the network hashrate. As such, speculators start to pay attention to this currency.

Over the past 24 hours, the Bitcoin Cash SV price has risen by 15% in both USD and BTC value. That is a very promising sign, especially when considering how all top currencies suffer from growing bearish pressure yet again. BCHSV Also generates a fair amount of trading volume, as over $169m worth of volume is nothing to sneeze at. Even so, its total market cap remains unclear on CoinmarketCap, simply because they seemingly can’t calculate the circulating supply.

When looking across social media, there is still a lot of hostility toward Bitcoin Cash, BCHSV, Roger Ver, and Craig Wright. Not entirely abnormal, as many people blame this “split” for ongoing price issues across the entire industry. Even so, the image shared by When Moon? is quite interesting regardless.

Those who want to look at things from a technical analysis point of view may have noticed how there is a very pattern forming on the BCHSV charts. Dacomax is not too sure whether this will result in more bearish pressure or simply displays a Bat signal for better things to come. Most peculiar, albeit it doesn’t necessarily mean anything either.

Unsurprisingly, there is also a rather appealing arbitrage option to explore in the Bitcoin Cash SV department. The value of BCHSV on Gate is significantly lower compared to KuCoin, which allows users to score some very easy profits. There are always many different facets to cryptocurrencies, and arbitrage trading is slowly becoming more apparent.

Although the current Bitcoin Cash SV price momentum looks promising, it has become more than apparent no uptrends can be sustained in this industry throughout 2018. It would appear this run is no different, as the value of BCHSV has been suppressed violently over the past week or so. As such, this “breakout’ may not remain in place too long, as users will begin taking profits eventually.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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Bitcoin Price Watch: BTC Sellers Target Breakdown Below $3,000

Key Points Bitcoin price declined further and broke the $3,295 and $3,200 supports against the US Dollar. There was a break below a major contracting triangle with support at $3,355 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded to a new weekly low at $3,150 and it is currently correcting losses. Bitcoin price declined below the $3,200 support recently against the US Dollar. BTC could continue to face a lot of selling interest near the $3,350 and $3,375 levels. Bitcoin Price Analysis Yesterday, we discussed the chances of a fresh weekly low below $3,200 in bitcoin price against the US Dollar. The BTC/USD pair did trade lower and broke the $3,295 and $3,260 support levels. The price even broke the $3,200 support area to signal a major bearish wave. A new weekly low was formed at $3,150 and it seems like the price remains in a significant downtrend. During the decline, there was a break below a major contracting triangle with support at $3,355 on the hourly chart of the BTC/USD pair. The pair is now trading well below the $3,400 level and the 100 hourly simple moving average. It recently corrected above the $3,230 level and the 23.6% Fib retracement level of the last slide from the $3,491 high to $3,150 low. However, buyers struggled to clear the $3,265-3,300 resistance zone. The next major hurdle is near the $3,360 level. It coincides with the 61.8% Fib retracement level of the last slide from the $3,491 high to $3,150 low. Besides, the triangle resistance trend line is at $3,375 to prevent gains. Looking at the chart, bitcoin price is clearly trading in a bearish zone below $3,375. There could be more losses below $3,150 and $3,000 in the near term. Looking at the technical indicators: Hourly MACD – The MACD for BTC/USD is slowly reducing its bearish slope. Hourly RSI (Relative Strength Index) – The RSI is still well below the 40 level. Major Support Level – $3,200 Major Resistance Level – $3,375 The post Bitcoin Price Watch: BTC Sellers Target Breakdown Below $3,000 appeared first on NewsBTC.

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