Bitcoin Cash Rallies 7%, More Upsides Likely If BCH Clears 100 SMA

Bitcoin cash price rallied over 6% and it broke the $230 and $235 resistance levels against the US Dollar. BCH is likely to continue higher towards $250 if it clears the 100 SMA (H4). Bitcoin cash price is gaining momentum above the $235 resistance level against the US Dollar. The price is currently facing hurdles near $240 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The…

Bitcoin Cash hits new low vs. Bitcoin as Draper deletes Twitter praise

Altcoin Bitcoin Cash (BCH) is plumbing new lows against Bitcoin (BTC) after crashing through fresh support. Data from price tickers including Cointelegraph Markets and CoinMarketCap confirm that BCH/BTC is now at its worst levels in Bitcoin Cash’s three-year history. BCH/BTC in “downward price discovery” At press time, 1 BCH bought just 0.022 BTC, 92.2% less than at its peak of 0.285 BTC in December 2017. BCH launched as an off-shoot from BTC in August the same year, at the time enjoying support from various industry figures and businesses. This subsequently…

‘We Are the Cool New Startup’ Says Bitcoin Cash Node

With the Bitcoin Cash community divided once again, supporters of alternative implementation ‘Bitcoin Cash Node’ now believe they have a majority of miners behind them. Supporters of Bitcoin Cash Node or BCHN have rejected Bitcoin ABC’s latest upgrade, which would require miners to donate 8% of all newly minted coins to a development fund from November. One Redditor accused Bitcoin ABC lead developer Amaury Sechet of “choosing to create his own (forked) coin that pays one address 8% of minted funds.” However, Sechet told Cointelegraph he believes that BCHN does…

‘Upgrade or Bitcoin Cash Is Destined for Irrelevance’

Bitcoin ABC, the dominant implementation of Bitcoin Cash (BCH), has published a controversial new upgrade that BCH supporters must deploy prior to November 15 to facilitate changes to the crypto asset’s core protocol. Lead developer Amaury Sechet said part of the reason for the new upgrade was to provide crucial development funding to allow Bitcoin Cash to compete with Bitcoin and Ethereum. “In comparison, Bitcoin Cash is lacking in funding and the result is a poorly maintained infrastructure, highly dependent on the work of other teams such as Bitcoin Core’s,…

Chainlink (LINK) Soars 30% To New ATH, Dethrones Bitcoin Cash Spot

Chainlink (LINK) rallied over 30% and it traded close to the $17.000 level against the US Dollar. It dethroned bitcoin cash and moved to the 5th spot in terms of the market cap. Chainlink token price is gaining momentum and it broke the $16.500 resistance against the US dollar. The market cap jumped sharply and LINK moved to the 5th spot to overtake bitcoin cash. There was a break above a key bearish trend line with resistance near $13.300 on the 4-hours chart of the LINK/USD pair (data source from…

Number of Bitcoin Cash Whales Drop Following 39% Price Surge

Following a 39% price surge at the end of July, at least 10 Bitcoin Cash whales have left the network, possibly trading or selling their millions in holdings.  According to Crypto Twitter user Ali Martinez, data from analytics site Santiment shows the number of investors holding between 10,000-100,000 Bitcoin Cash (BCH) — roughly $3-30 million — has fallen by 10 since Aug. 1. The drop comes after the token surged 38.7% from $224.46 on July 17 to a three-month high of $311.34 on July 31, implying that a number of…

North Korea Reportedly Using Altcoins to Convert $1.5B in Stolen Funds to Cash

North Korea-based cybercriminals are suspected to be using untraceable alternative cryptocurrencies, or altcoins, to convert stolen funds into cash. According to an NK News report, an unpublished United Nations Panel of Experts report states that North Korea-backed hackers have stolen approximately $1.5 billion in cryptocurrencies and they were converting a portion of that amount into cash. Using altcoins, mixers and loosely regulated exchanges The hackers deliberately transact using privacy-focused altcoins as they are hard to trace and track, moving the stolen assets to loosely regulated cryptocurrency exchanges that have minimal…

Rival Bitcoin Cash Camps Look Set to Compromise

Amaury Sechet, the lead developer of Bitcoin Cash (BCH), has announced new plans for the network’s coming November upgrade designed to find a compromise between proponents of the ‘Bitcoin ABC’ and ‘BCHN’ proposals. Sechet posted on August 6 that the November upgrade will implement two main changes to the protocol — the implementation of the ‘Aserti3-2d’ difficulty adjustment proposed by Jonathan Toomin and Mark Lundeberg, and the implementation of an infrastructure funding plan (IFP) in the form of the ‘Coinbase Rule.’ Meeting in the middle The Aserti3-2d adjustment was proposed…

Is Bitcoin Cash Headed to Another ‘Catastrophic’ Fork?

The Bitcoin Cash (BCH) community is divided over whether to change the cryptocurrency’s difficulty adjustment algorithm, with a recent developer meeting reportedly concluding with attendees storming out of the event. On August 4, Chris Pacia, the lead developer of the peer-to-peer marketplace OpenBazaar and a volunteer BCH developer, tweeted that “multiple people walk[ed] out” of the meeting as consensus was not reached over whether to make adjustments to Bitcoin Cash’s difficulty algorithm. Ethereum co-founder Vitalik Buterin tweeted in reply that he doesn’t understand with BCH people “care so much” given…

Bitcoin Cash Rally Reaches $300 and Technicals Indicate Further Upsides

Bitcoin cash price rallied over 8% and it broke the $250 and $260 resistance levels against the US Dollar. BCH is likely to continue higher above the $300 barrier. Bitcoin cash price is gaining momentum above the $260 pivot level against the US Dollar. The price traded close to the $300 level and it is currently consolidating gains. There is a short-term contacting triangle forming with resistance near $295 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to accelerate further higher if…