Bitcoin Cash

Future

Bitcoin

Coin

<p style="text-align: justify">Whales are on the move, and it’s not just happening in altcoins. Thousands of <a href="https://en.coin-turk.com/blockstream-ceo-adam-back-expects-bitcoin-to-reach-an-all-time-high-before-the-2024-halving/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> are also being transferred on the network. However, for altcoins with less liquid assets, millions of dollars in sales bring along bigger problems. So, what’s next for BCH?</p>
<h2 style="text-align: justify" id="future-of-bch-coin">Future of BCH Coin</h2>
<p style="text-align: justify">The listing of BCH Coin by the crypto platform <strong>EDX Markets</strong>, initiated by trillion-dollar asset managers, caused a significant price increase. In fact, we saw <a href="https://en.coin-turk.com/sec-acts-early-on-7-spot-bitcoin-etf-decision/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> Cash reach its $329 peak in June 2023. But what happened next? On November 1st, EDX officials decided that it did not meet their criteria.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-279921 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BCH-Balina-Grafik-scaled.webp" alt="" width="1149" height="345"></p>
<p style="text-align: justify">After the delisting, we came to the end of the supported rise by EDX Markets. The demand significantly decreased, and we mentioned back then that the long-term outlook turned negative due to this movement. <strong>Bitcoin</strong> killers, <strong>BSV</strong> and <strong>BCH</strong>, have been unable to achieve success in the time allotted to them and have begun to await their demise.</p>
<h2 style="text-align: justify" id="bch-coin-analysis">BCH Coin Analysis</h2>
<p style="text-align: justify">According to data from IntoTheBlock, the interest of BCH Coin whales decreased throughout November. In fact, we saw whale movements on the network hit a low of 195, which represents a significant level of activity when whales moved their assets for sale on November 2nd.</p>
<p style="text-align: justify">As of November 2nd, whales and miners held a total of 6.46 million <strong>BCH Coins</strong>. This figure has now dropped to 6.23 million (today), with $50.4 million worth of sales. This selling is likely to continue, and we will continue to see large <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> reducing their risks due to long-term negativity.</p>
<p style="text-align: justify">If the price decline accelerates, it could trigger a period where individuals, in addition to whale sales, flee. The $200 support area represents a significant number of investors’ average price. Closures below this level could trigger stops for investors looking to avoid losses. The stop level is usually at or slightly below the purchase price. Investors place stop orders to limit their losses in sudden declines.</p>
<p style="text-align: justify">At the time of writing, Bitcoin is struggling to surpass $37,000 again. The cumulative trading volume of cryptocurrencies is around $59 billion.</p>
<div class="sorumluluk_reddi"><strong>Disclaimer:</strong> The information in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/future-of-bch-coin-whats-next/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/future-of-bch-coin-whats-next/</a>

Future of BCH Coin: What’s Next?

Table of Contents

COINTURK NEWS

Άλλα άρθρα που δημοσιεύτηκαν στις 22 Νοε 2023

Rethinking Bitcoin 'dominance' at 51% — A misleading metric?

Just In: Mt. Gox Creditors to Finally Receive Cash Repayments in 2023

Genesis sues Gemini, seeking nearly $690m in ‘preferential transfers’

Binance hit with $288 million Bitcoin exodus following CEO money laundering plea

Ethereum Still Bullish: Richest ETH Wallets Go On Massive $124 Billion Buying Spree

Optimism performs impressively in 2023 - Can it outshine Arbitrum?

Join our free newsletter for daily crypto updates!