Bitcoin Cash Markets Spike Over 60%
Bitcoin Cash Markets Spike Over 60%
For the past two days, BCH markets have been on fire, and the market is up over 60 percent at the time of writing. Currently, one bitcoin cash is $550, and the market is commanding a $9B market cap. Further, BCH markets have eclipsed ethereum trading volumes as the cryptocurrency has been trading $2B in volume over the past 48 hours. During the late hours of August 17, there was significant resistance in the $520 price territory, but BCH bulls surpassed these sell walls the next day. If a bearish trend picks up order books on Kraken, Bittrex and other BCH exchanges show a solid floor within the $450-470 range. Additionally, the trading platform Bittrex has announced it will process funds for customers after only six BCH confirmations as opposed to its former rule of ten confirmations.
Bitcoin Cash Markets Flip Mining Profitability Which May Entice More Miners
Bitcoin Cash (BCH) markets on August 18, 2017.
BCH supporters are pretty excited about the digital asset’s market movements and the changes in mining profitability. Some of these BCH proponents believe a great mining “flippening” will happen around block 479808. As BCH mining profitability becomes more appealing to miners the chance of other pools joining in is a greater possibility, especially if bitcoin cash markets continue to rise.
BTC.com Provides a BCH Recovery Tool for a Variety of Wallets
In addition to the overall positive news, a splitting tool that can extract BCH from other wallets has been launched by BTC.com. “We are happy to announce that as of August 16, 2017, BTC.com offers a secure tool to extract bitcoin cash from other wallets,” explains the China-based startup.
“Recovering bitcoin cash from a bitcoin wallet in a do-it-yourself manner can be a risky process that requires serious expertise. That’s why we have developed this designated recovery tool, to make the process easy and seamless for everyone,” BTC.com adds.
What do you think about the current progress for the BCH chain and the recent market price spike? Let us know your opinions in the comments below.