Rodger Ver wants his own cryptocurrency exchange, Bitcoin Cash (BCH) traders are not impressed by the plans

Bitcoin Cash, the fourth largest digital asset with market value $8.9B is changing hands at $515 after a short-lived dip to $509 during early Asian hours. BCH/USD is down 2.2% since this time yesterday, though there are no clear signs that the bearish momentum is gaining traction as of yet.

What's going on

Bitcoin.com CEO and Bitcoin Cash proponent Rodger Ver announced the plans to created its own cryptocurrency exchange. 

“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want,” he said of the firm’s early-stage plans. “But we don’t have the security of a battle-tested exchange that’s been around for a while,” he said in the interview with Bloomberg in Malta.

Providing further details he added that the exchange might be build either internally or in external partnership. It will be hosted on Bitcoin.com, which will allow attracting "thousands or tens of thousands of new users every single day, he added.

Bitcoin Cash technical picture

From the technical point of view, the first strong support is produced by $510 (bottom of the channel) and psychological $500. It is closely followed by $487 (SMA200, 4-hour) and $423 (September 25 low).
On the upside, BCH/USD is capped by $520 (SMA50, 4-hour) and $535 (October 8 high). Once above the recovery may be extended towards $580 and $590 (September 27 high).

BCH/USD, 4-hour chart