• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, June 9, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Bitcoin Cash (BCH) Makes Another Attempt to Breach $166 Mark!

August 24, 2022
in Crypto News
Reading Time: 2 mins read
A A
Bitcoin Cash (BCH) Makes Another Attempt to Breach $166 Mark!
ShareShareShareShareShare

Related articles

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

June 9, 2023
Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys

Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys

June 9, 2023

Bitcoin Cash is an improved, advanced, and more capable blockchain than its parent BTC. BCH’s last released block size was 32 MB, while BTC was just 1 MB. This indicates the difficulty level in solving a BCH-based block. With the news of mining operations slowly shifting towards Proof of Stake, miners have increasingly inclined to shift towards Proof of Work blockchains, making BCH an ideal candidate. 

BTC is undoubtedly the crypto-king, but the time required to mine a block on BTC is too high, and larger numbers of miners have further made their operations more competitive. BCH currently ranks at 29th position with a market capitalization of $2.5 billion, with close to 91% of its entire supply already in circulation in the market. Hence, the prospect of higher block rewards and increasing value of the BCH token couldn’t be a far-fetched story.

BCH has brought back its days of a positive outlook. The technical outlook shows a sudden rise in buying activity; could this be a result of shifting to mining-based blockchains? Click here to know about it.

Bitcoin Cash’s price action is similar to Bitcoin, with the only difference of BTC copying BCH’s price action. Short term outlook for the BCH token has showcased a small potential to continue moving towards the 100 EMA curve and mark the positive breakout as a pivot point. The historical price action-based resistance is active at the $166 level, which remains quite lower than its historical highs of $1542 reached in May 2021.

The Bitcoin Cash’s probability of retesting this high remains out of grasp considering current developments of Bitcoin Cash, but the outlook is slightly positive. RSI indicator has jumped from near oversold zones to above 45, indicating higher buying action, while the MACD indicator is on track to create a bullish crossover and confirm the positive outlook.

Weekly charts of Bitcoin Cash showcase a neutral stance considering the last week’s red candle, but the formation of two back-to-back green candles strengthens its outlook. On the other hand, the monthly chart is still in a negative outlook as week-on-week price action has failed to continue with a positive stance or hit higher highs.

Credit: Source link

ShareTweetSendPinShare
Previous Post

New Web3 Head at Digital Bank Cogni Braces for More Regulation

Next Post

Changing Bitcoin’s Narrative by Adding More Utility

Related Posts

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

June 9, 2023

Ankr has announced the release of its Enterprise RPC Service and AppChain Solutions on Microsoft’s Azure Marketplace. The announcement expands...

Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys

Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys

June 9, 2023

The post Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys appeared first on Coinpedia Fintech News...

CBA Restricts Payments to ‘Certain’ Crypto Exchanges

CBA Restricts Payments to ‘Certain’ Crypto Exchanges

June 9, 2023

Australia’s Commonwealth Bank introduced new processes to help protect customers from scams associated with making payments to certain crypto exchanges....

Vechain’s Blockchain and Groundbreaking Nano-Materials Transform Technology Landscape

Vechain’s Blockchain and Groundbreaking Nano-Materials Transform Technology Landscape

June 9, 2023

Source: Den Rise Shutterstock VeChain has confirmed that it is working with market leaders in the nano-materials industry to bring...

The World’s First AI Cat-Led Ethereum Token and NFT…

The World’s First AI Cat-Led Ethereum Token and NFT…

June 8, 2023

$CatGPT is launching its own NFT collection on its website, CatGPT.Nexus, where you can try him yourself and interact with...

Load More
Next Post
Changing Bitcoin’s Narrative by Adding More Utility

Changing Bitcoin’s Narrative by Adding More Utility

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BitMEX To Send Physical Bitcoin To The Moon In Partnership With Astrobiotic Technology And Bitcoin Magazine

BitMEX To Send Physical Bitcoin To The Moon In Partnership With Astrobiotic Technology And Bitcoin Magazine

May 18, 2023
Industry Giant Sues SEC for Documents in Crypto Conflicts

Industry Giant Sues SEC for Documents in Crypto Conflicts

May 12, 2023
Pegaxy Takes on the Crypto Unicorns in NFT Brawl

Pegaxy Takes on the Crypto Unicorns in NFT Brawl

June 5, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace
  • How Much Percent Must SHIB Rise To Reach $1?
  • Crypto attorney calls on public to form amicus curiae in Coinbase, Binance suits

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$26,743.001.33%
  • ethereumEthereum(ETH)$1,855.760.69%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.38%
  • binancecoinBNB(BNB)$264.04-0.35%
  • usd-coinUSD Coin(USDC)$1.000.03%
  • rippleXRP(XRP)$0.543.47%
  • staked-etherLido Staked Ether(STETH)$1,854.050.64%
  • cardanoCardano(ADA)$0.321263-1.79%
  • dogecoinDogecoin(DOGE)$0.0709694.24%
  • solanaSolana(SOL)$19.151.59%
  • matic-networkPolygon(MATIC)$0.780.58%
  • tronTRON(TRX)$0.0784090.89%
  • litecoinLitecoin(LTC)$89.972.40%
  • polkadotPolkadot(DOT)$5.071.06%
  • avalanche-2Avalanche(AVAX)$14.222.13%
  • binance-usdBinance USD(BUSD)$1.000.20%
  • shiba-inuShiba Inu(SHIB)$0.0000080.86%
  • daiDai(DAI)$1.000.04%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,765.001.40%
  • uniswapUniswap(UNI)$4.670.80%
  • leo-tokenLEO Token(LEO)$3.520.07%
  • chainlinkChainlink(LINK)$6.081.57%
  • cosmosCosmos Hub(ATOM)$9.47-1.07%
  • okbOKB(OKB)$45.241.93%
  • moneroMonero(XMR)$143.07-0.88%
  • ToncoinToncoin(TON)$1.702.63%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • ethereum-classicEthereum Classic(ETC)$17.171.34%
  • stellarStellar(XLM)$0.0878990.60%
  • bitcoin-cashBitcoin Cash(BCH)$111.950.17%
  • true-usdTrueUSD(TUSD)$1.000.09%
  • lido-daoLido DAO(LDO)$2.242.47%
  • internet-computerInternet Computer(ICP)$4.323.51%
  • filecoinFilecoin(FIL)$4.140.26%
  • quant-networkQuant(QNT)$109.69-1.43%
  • AptosAptos(APT)$7.770.71%
  • hedera-hashgraphHedera(HBAR)$0.0491601.91%
  • crypto-com-chainCronos(CRO)$0.058690-1.30%
  • ArbitrumArbitrum(ARB)$1.151.47%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • nearNEAR Protocol(NEAR)$1.431.42%
  • vechainVeChain(VET)$0.017574-1.28%
  • apecoinApeCoin(APE)$2.910.22%
  • the-graphThe Graph(GRT)$0.113598-0.54%
  • paxos-standardPax Dollar(USDP)$1.000.01%
  • fraxFrax(FRAX)$1.000.15%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.901.83%
  • rocket-poolRocket Pool(RPL)$47.660.51%