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Bitcoin Cash BCH Leading New Wave Of Green

23 january 2019, 23:28 by John Kiguru

Bitcoin Cash BCH Leading New Wave Of Green

The last couple of hours have seen the market see some bullish response following a price drop at the beginning of the week. Although most coins that have recorded gains have slipped back after encountering massive resistance, Bitcoin Cash is holding up its own. At the time of press, the coin is extending its gains and is now up by 6%. Despite little action from around the market, Bitcoin Cash is setting a fast pace as it tries to escape the bears. As we approach the weekend, these gains will be crucial to establishing a higher support level.

Bitcoin Cash prices have breached past $130, one of the more crucial resistance points. The $130 position signals bullish continuation. In the next couple of hours, the bulls will try to push prices high with a reversal expected to see prices to drop to around $130 or $129.

The rally follows criticism from Bitcoin.org founder who called Bitcoin Cash dead. According to him, if the project does not find new leadership, direction, and purpose, it will be worth zero in a few years. Clearly, Bitcoin Cash had a response to this and it is showing it is more than capable of making a comeback despite a rocky couple of months.

Bitcoin Cash has had a stable foundation since it was forked from Bitcoin and up until its own fork when Bitcoin Cash SV was launched. The event saw Bitcoin Cash take a massive hit with an over 60% drop. This year could see Bitcoin Cash make a comeback and return to its highs of $500 according to many predictions, however, this will continue to be influenced by the wider market.
Bitcoin Cash is now setting up for more gains with the $140 position in target in the short-term and the $150 position in the mid-term.

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