Bitcoin Cash Price: BCH Soars High, Reaches $600 In Hours As Hard Fork Nears. Thursday, November 8th
Bitcoin Cash Soaring High, Gains $600 In Hours As Hard Fork Nears
The last couple of days have seen more and more traders take a position in the cryptocurrency market. Unlike in the past where most traders have put their bet on Bitcoin, the recent drop in its dominance shows that investors are more optimistic of altcoins. At the time of press, bitcoin’s dominance stands at 51.8% down from 54%.
The market has continued to record more gains and the positive momentum continues to dominate. Bitcoin, even though is down by dominance, is trading high and is at the time of press, trading above the $6,500 position. This is however not the biggest news of the day. Bitcoin Cash has made headlines with a 12% price surge, gaining $600 in hours. This price growth marks a 2-month high for the coin.
BCH/USD Price Chart, Thursday November 8th:
This price gain comes in the wake of a hard fork scheduled for November 15. After being created from a bitcoin hard fork now bitcoin Cash itself is going to be hard forked. As we reported, this hard fork has been supported by Binance, an announcement that saw the coin soar.
At the time of press, the coin is trading at $617 and after soaring to highs of $635 has found resistance at the $637 position. It also seems the bulls have formed support at the $614 position. In the next couple of hours, Bitcoin Cash should go through a price correction, with prices expected to settle around $610.
Read Also: Bitcoin Cash Will Be Halted In Ledger, Until There Is A Dominant Chain - Bitcoin Cash News
Leading up to the hard fork, as we reported, speculation will continue to increase and this is expected to see prices jump. Depending on how successful the hard fork is, prices should continue soaring or begin a reversal. Whatever the case, with the hard fork coupling with a positive market momentum, the next two weeks are bound to be interesting for Bitcoin Cash holders.
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