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Kucoin Delists Various Trading Pairs Linked to Bitcoin Cash

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KUCOIN’S BITCOIN CASH DECISION

Kucoin will continue to support Bitcoin Cash for quite some time to come. This popular altcoin generates a lot of trading volume and is quite popular among exchange users in general. So much even that Kucoin has opened various alternative trading markets linked to BCH, including some for smaller altcoins.

Unfortunately, it appears that decision has not worked out exactly as planned. The company has now made it clear they will remove all of these BCH trading pairs in the near future, mainly because they simply don’t generate sufficient trading volume. This decision doesn’t just apply to Bitcoin Cash markets, mind you. DENT has lost quite a few trading pairs on the exchange, as have KCS, FOTA, and NEO. It seems offering dozens of markets will only go well for so long, as there can never be sufficient liquidity to keep all of these markets going. It is the way things go in the cryptocurrency industry, as there is no real need for too many trading markets.

For Bitcoin Cash supporters, very little will change in the end. Although they can no longer exchange BCH for a few small altcoins and assets, the main trading pairs will remain active for the foreseeable future. It is evident Kucoin had high hopes for these BCH trading markets, but it seems the altcoin is not popular enough – on this platform, anyway – to warrant being a “reserve currency” for other trading pairs right now.

 Whether or not this will lead to any specific developments in the Bitcoin Cashindustry remains to be seen. As it doesn’t affect the overall Bitcoin Cash price or value whatsoever, it remains to be seen if this decision by KuCoin was the right one. Although we commend the company for getting rid of obsolete markets, some users may not necessarily be happy with this development.

All of this raises the question as to which currency can rival Bitcoin in terms of being a reserve currency for altcoin and digital token trading. As of right now, it seems Bitcoin Cash may not fit the bill.

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Bitcoin Cash (BCH/USD) forecast and analysis on April 24, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 293. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Bitcoin Cash (BCH/USD) forecast and analysis on April 24, 2019

As part of the Bitcoin Cash forecast, a test of the level 310 is expected. Where should we expect an attempt to continue the fall of BCH/USD and further development of the downward trend. The purpose of this movement is the area near the level of 255. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator at the level of 315.

Bitcoin Cash (BCH/USD) forecast and analysis on April 24, 2019

Cancellation of the option to continue the decline in Bitcoin Cash will be the breakdown of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of ​​320. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on April 24, 2019implies a test level of 310. Further, it is expected to continue falling to the area below the level of 255. The conservative area for selling Bitcoin Cash is located area of ​​315. Canceling the option of falling cryptocurrency will be a breakdown of the level of 320. In this case, we can expect continuation growth.

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Bitfi denies support to Bitcoin Cash [BCH] over ‘real Bitcoin’ drama

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The Bitcoin fork ecosystem has had a tumultuous past couple of weeks, complete with multiple BSV delistings and various proponents speaking against the cryptocurrency.

The latest development from Bitfi however, has taken the spotlight away from Bitcoin SV after the popular cryptocurrency wallet announced that it will not be supporting Bitcoin Cash [BCH] on its wallet ecosystem. The official release from the company claimed,“Management believes that Bitcoin Cash (BCH), while having a sound and useful technology, is operating a PR and advertising campaign that is confusing, especially to newcomers to the digital asset market. As such, Bitfi believes, it is acutely damaging and toxic to the industry if investors are not sure what the real Bitcoin (BTC) is.”

The company also cited the drama and confusion surrounding Bitcoin Cash and Bitcoin as one of the primary reasons behind the decision. Bitfi further targeted the Roger Ver-led Bitcoin.com, commenting that the portal was spreading ‘demonstrably false’ information about Bitcoin Cash being Bitcoin. The cryptocurrency wallet company slammed Bitcoin.com for destabilizing the cryptocurrency ecosystem and claimed that the consequences are “far-reaching.”

Jihan Wu, Co-founder of Bitmain, was also in Bitfi’s line of fire after he was called out for trying to control the price of Bitcoin. Bitfi stated,“In addition, at the end of 2017, Bitmain, a Chinese hardware mining manufacturer, engaged in aggressive selling of large quantities of Bitcoin (BTC) into the price using the capital to prop up the price of Bitcoin Cash (BCH) as revealed in documents that were disclosed for Bitmain’s IPO filing. According to Bitfi, this was likely done in the hopes of flipping the price of Bitcoin (BTC) and Bitcoin Cash (BCH) in order to take over the name Bitcoin, which would then be controlled by several powerful companies and individuals.”

Another concern raised by Bitfi pertained to users being manipulated by statements given by Bitcoin Cash proponents, with some even sending Bitcoin Cash to Bitcoin addresses. The organization assured users and fans of the cryptocurrency that once the BCH camp addresses the problems on-ground, BCH will be usable again on Bitfi.

Source:ambcrypto

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Bitcoin Cash Technical Analysis: BCH/USD not if when for bull breakout

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  • Bitcoin Cash price on Tuesday is trading in positive territory with gains of some 2.30% in the second part of the session. 
  • BCH/USD daily price action moving within a bullish pennant pattern structure. 
  • The next major targets for the bulls are $400 and then $600 price territory. A breakdown of $400, could see a fast reversal back up to the pre-November fall area of $600+.

 

Spot rate:                  299.00

Relative change:      +2.30%

High:                         312.00

Low:                          291.02

BCH/USD

OVERVIEW
Today last price 299.001
Today Daily Change 6.1833
Today Daily Change % 2.11
Today daily open 292.8177
TRENDS
Daily SMA20 298.726
Daily SMA50 210.6175
Daily SMA100 168.4183
Daily SMA200 239.0193
LEVELS
Previous Daily High 296.0615
Previous Daily Low 286.9954
Previous Weekly High 335.1791
Previous Weekly Low 272.9829
Previous Monthly High 172.9457
Previous Monthly Low 120.5261
Daily Fibonacci 38.2% 292.5983
Daily Fibonacci 61.8% 290.4587
Daily Pivot Point S1 287.8549
Daily Pivot Point S2 282.8921
Daily Pivot Point S3 278.7888
Daily Pivot Point R1 296.921
Daily Pivot Point R2 301.0243
Daily Pivot Point R3 305.9871

 

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BCH/USD 60-minute chartimage.gif
  • The price lost much upside momentum in the early part of trading, running into chunky supply seen via the 60-minute, tracking from $310-313. 

BCH/USD daily chart

  • The price is subject to a potential breakout from the bullish pennant structure observed via the daily chart view. 

 

 

source:fxstreet

 

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