Bitcoin is showing signs of profit booking, resulting in a slight downturn in altcoin prices.
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.
News of PayPal’s support for crypto assets has triggered a rally in the markets, with Bitcoin trading above $13,000 for the first time since July.9892
Bitcoin hit a new 2020 high and altcoins rallied as PayPal announced that it will support crypto payments.19666
Bitcoin price may rise to a new 52-week high if it can break above the ascending channel and this move could ignite the altcoins.29687
Bitcoin and altcoins must rebound off their immediate support levels to recapture bullish momentum and resume the uptrend.19087
Bitcoin and most major altcoins are sustaining above their immediate support levels, increasing the possibility that the uptrend will resume.11689
Bitcoin’s strength above the $11,500 multi-year resistance is also pulling many altcoin prices higher.18255
Bitcoin and select altcoins have broken out of their bullish setups, hinting that further upside could occur through the weekend.19995
Bitcoin and altcoins could remain range-bound for a few days as traders search for triggers that will start the next trending move.18834
Traders are attempting to kickstart a new trending move in Bitcoin and altcoins by attacking overhead resistance levels.14063
The bulls are buying the dips in Bitcoin and a few altcoins, suggesting that investor sentiment remains positive.25895
Bitcoin and a few altcoins continue to push against resistance at higher levels, suggesting that the uptrend may resume soon.13735
Bitcoin and altcoins may hit a few roadblocks in the short-term as they near stiff overhead resistance levels, but the overall trajectory remains bullish.17353
Bitcoin and altcoins rebounded off their critical support levels, possibly creating a path to a new bullish uptrend.20048
The Bitcoin Cash community appears to be signaling support for the upcoming BCHN fork, with 82% of hash power supporting the implementation.11106