Korean volume jump rides Bitcoin Cash up
We at Storiqa are happy to share with you a breaking news story on Bitcoin cash. Today it has sky rocketed and demonstrated the highest rate of $1,623.80 at 08:14 UTC this morning, within the preceding eleven days. Nonetheless, since then it has apparently lost some precious impetus.
It being the world’s third leader on the cryptocurrency markt, we inevitably have a question raised of what the possible reasons for this hop could be. Taking into consideration current info on exchange rates, we get it clear that KRW is the key to BTC becoming a high-flyer. To be precise, it is FSS (Financial Supervisory Service) of South Korea that has been reported not to interfere in crypto-trading (at all).
Moreover, it took just a day to have trade volumes overall increased by a tad more than 40%. Its current index is nothing but a peak rate of more than $4 billion: it’s never been as high since 13 November. This seems an indicator of the market being vibrant. Also there is much likelihood that this brisk rally will stay on a similar scale for a while. To add to that, the increase could even enlarge in the foreseeable future according to the price action review.
To bring more light to further future expectations, one should know that pullbacks of technical origin may slow down at app. $1250 while BCH is seemingly ready to start a resistance at a point of $1,550 and grow into $1,800-$2,000 shortly.
We need to maintain that this article should not by any means be considered as a direct investment instruction nor is it a code of practice. While requesting you to introduce any step taken with your own research, we have one recommendation to be given. Go and get your business to the stars with Storiqa — a transparent marketplace on Blockchain for small-to-medium businesses world-wide.