Altcoins have entered a slight correction after Bitcoin's relief rally lost steam and the price dropped below $35,000.
Bitcoin Cash News
In May 2017, Bitcoin transactions could take up to four days to complete. The only way to make a transaction quicker was to pay a transaction fee, which at the end of 2017 was around $28. The delay and the need to pay fees made Bitcoin impractical for making small purchases, which led to a new Bitcoin-based currency Bitcoin Cash (BCH).
BCH is a cryptocurrency established as a result of the hard fork that took place to manage the scalability problem. Bitcoin Cash has a number of significant differences to Bitcoin: it is advertised as being faster and cheaper to use, the maximum block size is eight megabytes against one in previous Blockchain, and it has an emergency difficulty adjustment feature. Bitcoin Cash also uses 0-conf (or zero-conf) which allows for nearly instant transactions, meaning Bitcoin Cash transactions are almost always confirmed in the next block.
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Traders are shifting funds into select altcoins as Bitcoin price trades in a sideways range.
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Bitcoin’s sharp correction may not have broken its uptrend, but several altcoins have signaled that a short-term top could be in place.
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The price of Bitcoin has dropped below $40,000 as several high-cap coins return to the spotlight.
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Altcoins are surging higher as Bitcoin price consolidates and the prospect of a $3 trillion economic stimulus package sparks confidence in crypto investors.
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Traders are buying every dip and pushing Bitcoin price to new highs on a daily basis, triggering many altcoins to follow suit.
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Bitcoin's slow crawl toward $36,000 has given select altcoins the green light to rally higher.
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After today’s sharp downside move, Bitcoin and altcoins could trade in a sideways range as bulls and bears fight to control the market’s momentum.
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Altcoins could also see a strong buying interest and may run up vertically if Bitcoin rallies above $30,000.
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Bitcoin price continues to chase after $30,000 but continued rejections below the key level are negatively impacting altcoin prices.
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Bitcoin is taking a breather after the recent rally while altcoins are attempting to play catch up.
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If Bitcoin seeing a minor correction or consolidation in the next few days could benefit select altcoins.
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The SEC’s lawsuit against Ripple may be bearish for a few altcoins but could be bullish for Bitcoin.
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Even with today's correction, Bitcoin is still in an uptrend, but most major altcoins have lost momentum and may remain range-bound for the next few days.
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A handful of altcoins look ready to move higher as Bitcoin price enters a short consolidation phase.
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