Bitcoin’s recent rejection at $41,000 could extend the current range-bound action for a few more days and altcoins are expected to follow suit.
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.
Bitcoin’s surge above $40,000 and the breakouts from select altcoins may be signals that the bottoming process has begun.21335
Bitcoin and most altcoins could be gearing up for a few days of range-bound action as bulls buy on dips and bears sell on rallies.40354
Bitcoin’s sharp rebound from its recent swing low suggests traders are aggressively accumulating BTC and altcoins on major dips.36583
Bitcoin and altcoins are likely to remain under pressure for a few days but lower levels could attract buying.41400
Continued selling at overhead resistance levels suggests that Bitcoin and altcoins could remain range-bound in the short term.47955
Altcoins are picking up steam as the relief rally in Bitcoin and Ether gains traction.39736
Bitcoin and altcoins are attempting to start a relief rally, suggesting traders have decided to start buying at lower levels.46453
Each breakout from Bitcoin and altcoins is being met by selling near the 20-day moving average, a signal that the market could be in for more downside.48948
Dip-buyers catalyzed a strong relief rally in Bitcoin and altcoins but decreasing volumes and overhead resistance suggest the market is losing momentum.48642
The current relief rally in Bitcoin and altcoins could be a sign that the market is reaching a bottoming phase.41551
Bitcoin’s failure to extend its recovery shows supply exceeds demand at higher levels and this could put a cap on the bounce in altcoins.53331
Paul Krugman's harsh comments touched on core development issues within the Bitcoin community.12053
Retail traders capitulated as Bitcoin and Ether dropped to multi-month lows and technical indicators suggest the markets could remain volatile over the next few days.47146
Traders appear disinterested in buying Bitcoin at the current levels, suggesting that further downside could be in store for BTC and altcoins.87887