Business 24 April 2018

Gerald Fenech

Bitcoin Cash jumps 120% in April to breach $1,500

The cryptocurrency market rallied on, with all major cryptocurrencies rising considerably and reaching new monthly highs at regular intervals on Tuesday. In fact, the whole cryptocurrency market is now worth well over $400 billion and looks to be making a push towards the $500 billion mark pretty soon—a milestone that should see more institutional investors start coming slowly into the market accordingly.

Although BTC finally made a long-awaited push and breached the $9,000 mark to settle at around $9,200 at press time, the real star mover of the day was once Bitcoin Cash, which breached the psychologically significant $1,500 level to trade at around $,1520 at press time. This is an incredible 120% rise since April 10, when BCH was trading at just over $600. Another mover on Monday was Ethereum, which rose to well over $650 again and was trading at around $680 at press time. Its sister currency Ethereum Classic was also well up and trading at around $21 at press time—it appears to be close to achieving the levels it was at in February and may perhaps attack the $30 mark sometime soon.

Of the currencies with larger market cap, Ripple also saw a considerable push forward and crossed the $0.90 mark with ease, sailing through the $0.91 level and looking to make a drive towards the $1 mark in the next 24-28 hours. Volume has increased quite substantially with the major cryptocurrencies and this means that they can sustain rallies which push the price considerably upwards. Litecoin also breached a psychologically significant value of $160 and looks to begin testing the $200 mark perhaps in the coming days as good news continues to increase accordingly with regards to the coin’s operations.

Of the currencies with a smaller market cap, Stellar Lumens is poised to move over the $0.40 mark since it is currently trading at around the $0.395 region with a 5% increase overall. NEO was also strongly bullish over the past few hours and is now trading at well over $80—it seems that the days of its lows of around $46 are well and truly behind it. Dash continued to consolidate above the $500 level and is currently trading at $530, with a push towards the $600 mark not out of this world. All in all it seems that the crypto market is in strong recovery mode and by the end of April it looks like almost half the losses of the previous three months should be recouped.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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