Business 23 April 2018

Gerald Fenech

Bitcoin Cash outperforms the crypto market with over 20% growth

The cryptocurrency market maintained its solid gains over the weekend although there was a slight retrenchment in some coins, with BTC coin still failing to surpass the $9,000 mark and settling between the $8,800 and the $8,960 region.

The star performer over the weekend was Bitcoin Cash, which saw a humongous increase of well over 20% to add to the 40% recorded in the past week to reach the $1,350 level—an astonishing gain that confirms the strength of interest in the currency as it looks to lead the market. Bitcoin Cash has already surpassed the $1,400 at press time.

Ethereum also had a relatively good few days consolidating at the $630 level, and it looks well poised to begin testing the $650 level this week after several slight movements between the $590 and $620 range. Ethereum Classic also performed well, and, at press time, it was trading at around $19.50 looking to begin testing the $20 mark for a further push to interesting new levels very shortly. This is in stark contrast to the performance of the currency over the past few weeks where it even dropped to $13 at one point—a full 40% increase in a matter of days.

Of the currencies with larger market caps, Ripple had a bit of a mixed weekend although it did soar to well over the $0.90 mark at one point on Sunday only to retract slightly to the $0.86 mark at press time. However, volumes have continued to increase and with a lot of good news about the potential of the currency, the barrier of $1 has to be tested very shortly—possibly in the next few hours. Litecoin remained relatively static and seems to be consolidating at the $150 mark. In fact, the currency moved slightly from $140 to $147, settling at those levels around press time with volumes quite strong too. News about its transaction speeds can only provide further interest in the currency and a strong rise is also expected in the not too distant future.

Of the currencies with smaller market caps, Stellar had another brilliant weekend reaching the $0.39 mark and it is now almost at the levels of mid-February, although it still has some time to go before it reaches its all-time high of $0.90 achieved in December. Neo also moved forward consistently but seems to be stuck in the mid $70s level although a further push towards $80 and beyond is not unexpected. Dash remains a sleeping giant and at press time was trading at around $470 with another push towards the $500 mark expected in the coming hours.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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