BITCOIN CASH TECHNICAL ANALYSIS (BCH US DOLLAR)
Technical overview
Big Picture
Themes affecting Cryptocurrencies
Latest Bitcoin Cash Analysis
Editors' picks
Bitcoin hits lowest weekly close since August as short-term holders slip into losses
Bitcoin fell below $75,000 on Tuesday, after recording its lowest weekly close since August as selling pressure pushed recent buyers into losses. Short-term holders are approaching their break-even levels, while realized losses have increased relative to profits, according to Monday’s Glassnode Market Pulse.
NEAR Protocol Price Forecast: NEAR risks further decline as bearish signals mount
NEAR Protocol shows resilience above $3.50 on Tuesday, following the previous day’s rebound from the $3.40 support level. Muted institutional investor interest and a steady decline in retail demand, along with a negative Coinbase premium and outflows from NEAR futures, weigh on the AI token.
Ripple and Stellar outlook: XRP and XLM extend losses as bears hold strong
Ripple and Stellar remain under pressure, trading below $1.093 and around $0.146 respectively on Tuesday as bears maintain control of momentum. In addition, weakening on-chain and derivatives metrics suggest that both XRP and XLM are at risk of a deeper correction in the coming days. CryptoQuant’s summary data shows a bearish outlook for both altcoins.
Ripple and Stellar outlook: XRP and XLM extend losses as bears hold strong
Ripple (XRP) and Stellar (XLM) remain under pressure, trading below $1.093 and around $0.146 respectively on Tuesday as bears maintain control of momentum. In addition, weakening on-chain and derivatives metrics suggest that both XRP and XLM are at risk of a deeper correction in the coming days. CryptoQuant’s summary data shows a bearish outlook for both altcoins.
Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss
Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.
BTC
ETH
XRP
Characteristics of Bitcoin Cash
Bitcoin Cash is a cryptocurrency that emerged on August 1, 2017 from a hard bitcoin fork. This partition was the result of the internal dispute to solve one of the main problems of the original cryptocurrency: the size of its blocks. Due to its limited capacity (only 1MB), the possibility was raised of improving its SegWit (Segregation Witness) technology to SegWit2, allowing the creation of blocks with twice the size.
There was another alternative that was responsible for the hard bifurcation, originating Bitcoin Cash and whose blocks have a size of 8MB. This causes the Bitcoin to have a transaction and verification speed in the blockchain much lower than Bitcoin Cash. However, despite some minor changes, both cryptocurrencies have very similar characteristics, such as the mining algorithm (SHA256).
Best cryptocurrency exchanges to buy Bitcoin Cash
If you want to trade Bitcoin or Ethereum, the choices are endless. Yet when you begin going down the list of market capitalization, the options narrow. Even Ripple is not present on all exchanges. So, if you are interested in trade a specific coin, an easy way to eliminate potential candidates would be to check if they offer to trade in your desired one.
If you are not sure which cryptocurrencies you want to trade, perhaps it is better starting from the most popular ones, but at an exchange that offers a relatively wide variety of coins, so you can change your mind easily before changing the exchange.
Every exchange uses a different interface and different charting tools. You obviously cannot get familiar with every option available as it would take too much time. Reviews with screenshots may become handy in getting the look and feel of the platform. If you prefer advanced trading tools, there is a good chance that a broker might have more sophisticated tools. However, if you want a clean and simple one, most exchanges will have such an option.
In addition to the ease of use, speed matters. If you are trading at a rapid clip or if you just need to have the system working properly without causing nervous breakdowns, watch out for reviews that complain about slow performance. Such exchanges could also have other issues.