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Bitcoin Cash BCH Surges By 40% As The Market Picks Up Pace

20 december 2018, 16:28 by John Kiguru

Bitcoin Cash BCH Surges By 40% As The Market Picks Up Pace

The last 24 hours have seen the market light up in a flush of green with nearly all major coins pick up pace and register substantial gains. Major coins are enjoying a 5% to 20% gain with the highest gainer being Bitcoin Cash, which has soared by over 40%.

Bitcoin, the crypto leader has at the time of press surged by 8% and the last couple of hours have seen the coin not only break past the $4,000 mark but also set a resistance level as high as $4,200. XRP has soared to the highs of $0.38 and Ethereum is trading well above $115.

This outstanding performance around the market has seen the total market cap climb above $135 billion from just under $115 billion. For Bitcoin Cash the market cap has climbed from a little over $2.3 billion to over $3.4 billion, creating over $1 billion in 24 hours.

Bitcoin Cash which has been blamed for the recent bad run around the market, has today pulled off one of the more spectacular performances pushing its price from $135 to over $190.

As we approach the end of the year, the crypto market is looking poised to end what has been one of the worst years, on a high.

In the next couple of hours, Bitcoin Cash will be looking to breach the $200 mark and establishing a high resistance and in turn a higher support level. In the last two months, Bitcoin Cash has dropped from highs of $500 to little over $80. The bulls will be looking to capitalize on the wider market surge and push prices as high as possible. On a bullish scenario, Bitcoin Cash could easily settle around $250 and in case of a price correction, prices should fall to around $180.

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