RATE Group | Long-Term Outlook For Bitcoin Cash: September 29, 2018 – Bitcoin Cash USD (Cryptocurrenc…
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Long-Term Outlook For Bitcoin Cash: September 29, 2018 – Bitcoin Cash USD (Cryptocurrenc…

01 Oct Long-Term Outlook For Bitcoin Cash: September 29, 2018 – Bitcoin Cash USD (Cryptocurrenc…

Posted at 14:59h in Bitcoin News by

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There is a positive correlation between Bitcoin Cash (BCH-USD) and Bitcoin, which is why the prices of both cryptocurrencies tend to move in tandem. Therefore, traders should watch for price movements of Bitcoin when trading Bitcoin Cash. The analysis presented today happens to be that of the BCH/USD pairing as at September 29, 2018.

Fundamental Outlook

The main market news for Bitcoin Cash that is likely to impact the price of this pair has come from the proposed Bitmain IPO as well as the listing of BCH by Gemini and Bittrex. There is also the impact of fundamental activity on Bitcoin, which continues to have a correlating impact on Bitcoin Cash.

Added support for trading on Gemini for Bitcoin Cash is expected to boost trading volume, increase demand for BCH and lead to a short-term “pump” in price, if the similar experience with the listing of ZCash on Gemini in May 2018 is anything to go by.

Technical Outlook

Technically speaking, the long-term chart of BCH/USD has featured…

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