Bitcoin Cash is ranked at #5 to the south of Tether in the market. The trading volume recorded stands at approximately $1.663 billion, whereas the supply has 18,029,250 BCH coins included as part of the circulation. The total market cap of Bitcoin Cash amounts to $4.057 billion for now. As of this moment, BCH is priced at $225.08 as a result of a growth rate of 1.39% impacting this fork of Bitcoin Core in the course of the past 24-hours.

While most of his followers agree with him, not all are fans of Bitcoin Cash. Specifically, RhythmTrader, who is a renowned Bitcoin {BTC} maximalist responded sharing a diagram depicting the comparison between the hashrates associated with Bitcoin and Bitcoin Cash. Take a look, ladies and gentlemen:

While BCH transactions can be carried out in seconds [as explained by Roger], the confirmation time is a subject of controversy. Bitcoin Cash has a scary mountain [littered with naysayers] to climb before it can actively compete against the king coin.

According to the candlestick chart connected to the BCH/USD pair on tradingview [based on data obtained from Bitstamp], this virtual currency is being influenced by sellers although buyers are back in action as of now. The daily RSI [for 14 periods] is at 28.69 which points Bitcoin Cash being oversold since 24th September. The final 6 peaks tied to the Awesome Oscillator were all formed underneath the zero line, and the brown shade possessed by them points to the prevalence of bearish momentum.

The MACD line dipped below the signal line post-23rd-September like countless other projects as a result of the recent bear-run. Although, the space between the duo has shrunk in a span of two days. Initial support can be found close to the $204.5 mark, and resistance lies adjacent to $333.5 in the market.

A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. I have an innate desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.

Originally posted here:

Bitcoin Cash {BCH} shoots back up; Roger Ver of Bitcoin.com harps on the necessity of fundamentals - OBN