NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Bitcoin Cash Price Analysis: Bulls soar towards $300-mark as UTXO set size grows to “levels not seen since 2017”

Published 04/02/2019, 10:08 PM
Updated 04/02/2019, 10:09 PM
© Reuters.
BTC/USD
-
BCH/USD
-

  • BCH/USD has spiked up from $167 to $257 over the last two days, charting a staggering 54% growth. Technical analysis shows that future growth is also expected.
  • Bitcoin Cash’s UTXO set size has reached its most significant level since 2017 which is historically an indicator of a bull run. Plus, the upcoming reward halving and hashrate increase have contributed to the rise in price as well.

As the entire crypto market enjoys tremendous gains following this Tuesday’s bull run, a special mention must be made for Bitcoin Cash. BCH/USD has grown by a staggering 58% over the last two days as its price has spiked up from $167 to $264. Apart from the overall bullish sentiment, several reasons have contributed to this outlandish boost in price:

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.