Bitcoin Cash is showing a truly extraordinary move today as the last watch was up 11.5% in the last 24 hours at the time of this writing. Wherefrom the monitoring of the quantity trend against BitcoinCash has increased tremendously in the next 4 hours. Meanwhile, the RSI signals the possibility of 24 hours of BitcoinCash trading indicating really good performance.
The bullish hope for BitcoinCash has not been dispelled, instead, it is showing quite a promising level.
More and more long-term investors are maintaining this flagship digital asset. It looks like investors are starting to want more expansion and expectations of BitconCash going forward.
In addition, if examined from the other side, it seems that investors are also anticipating growth in the BitcoinCash sector after Coinbase has received regulatory approval from the US Securities and Exchange Commission (SEC) to go public through Nasdaq. So this may indicate that the increase continues to receive support in the form of new institutional investments from both micros, small and medium investors.
Amid BitcoinCash struggling through a parabolic move, it is safe to say all of this is likely as rising US bond yields dampen short-term investor interest in safe-haven assets. In turn, it sent the US dollar down. And also it should be if examined historically, the fewer users spend their BitcoinCash, the higher the bullish bias. Meanwhile, BitcoinCash transactions are currently experiencing a very rapid increase even though all are small transactions.
On the other hand, BitcoinCash maintains its bullishness even against the relatively very strong greenback. Technically, BitcoinCash has managed to break its current strong resistance, ensuring the system's electronic peer 2 peer assets can accelerate to over US $ 1000 / BCH this month as well.
The trend of the increase in the price of BitcoinCash can also be seen from one of them caused by the transition from the owner of Bitcoin to BitcoinCash. So that the demand for buying rates shows a fairly strong level, while Bitcoin Cash experiences the opposite.
Another thing that can affect the increase in demand for BitcoinCash prices is that many large companies are willing to accept this digital currency as a means of payment for transactions.
Indeed, the advantages of BitcoinCash are the speed and cost, which is relatively cheap compared to Bitcoin and Etherum.
The role of public figures also affects the rise in the price of BitcoinCash, because in recent months more and more people are promoting the BitcoinCash digital currency. This can encourage people's trust in this digital currency to get stronger, and ultimately create high demand.
However, these are not suggestions for investing. Please note, this article is based on current observations.
