The crypto-market is struggling to recover its price. Bitcoin Cash increases its price by nearly 20%

in bitcoin •  7 years ago 

image.png

The biggest crypto on the global market, except for Bitcoin Cash, are struggling to recover their price. Bitcoin, Eterium, Lightcoin, and Ripple demonstrated little change in price, not showing a big change in price.

While most crypto currenices on the market have declined from 1% to 3% or a small increase in price, Bitcoin Cash has jumped nearly 20%, with most traders suspecting a short-term pump. In the last few weeks, during the major correction, the cost of many of the crypto fell by over 50%. Of course, there were also some rare cases where small like FunFair increased for a short period of time.

Over the past 24 hours, however, the price of the Bitcoin Cash increased from $ 995 to $ 1,300, with the volume being heavily concentrated on the Hong Kong-based OKEx Exchange. Bitcoin Cash remains the most commonly traded crypto on the platform, which is currently the largest exchange of crypto in the world with a daily volume of trade of $ 2.4 billion. Previously, the OkEx exchange was in a backward position, with UpBit and Binance having a larger daily trading volume. But as Binance is offline for more than 24 hours because of a server problem, OKeX temporarily overtakes Binance in the rankings.
Qtum and Eterium Classic have made a major positive change in their price. The similarity between all the cryptoLights that have made a tremendous positive change in their price over the past 24 hours is that they are all heavily concentrated on the South Korean market.
With a daily deal volume of more than $ 2.4 billion, Bitcoin Cash has rarely achieved $ 2 billion worth of trade in the past few months, and so the huge change in the price of the coin remains questionable.

Short-term development

Overall, although the market has recovered from a major adjustment in the past few weeks, the market is still struggling to show signs of a moderate recovery. The hedge fund investor and Pantera Capital CEO Dan Moreread said Bitcoin, along with other crypto, is likely to rise again within a few weeks.

"It seems that in a few weeks everything will be normal again and Bitcoin can start to grow again."

image source - Instagram

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!