A monthly low was hit over the weekend as crypto markets continued to slide. This morning they have bounced back a little but are still largely trending downwards. Bitcoin has made gains in the past 24 hours of around 8% sending it back over $9,000 once again. Altcoins have been a mixed bag, some have rebounded while others are still floundering, and this morning’s top performer is Bitcoin Cash.
Most of the altcoins are in the green during the morning’s Asian trading session however only a couple are double figures. Bitcoin Cash is one of them trading 11.3% higher than this time yesterday. BCH is currently trading at just over $1,100 (0.117 BTC) up from $989 (0.114 BTC) this time yesterday. Looking at the weekly chart however paints a bleaker picture as BCH is down 14% since last Monday.
The possibility of the US based Gemini exchange listing Bitcoin Cash would have given it an additional boost. The overall rebound has pushed most cryptocurrencies a little higher this morning but only the rest of the week will determine whether this is a true reversal or the markets are still bearish.
BCH has been traded heavily on Hong Kong based exchange OKEx which has almost 30% of the total volume. Around $500 million has been traded in the past 24 hours and Bitcoin Cash is still holding on to fourth spot with a market capacity of $18.8 billion.
Other altcoins performing well this morning include Dash, Tron, Stratis, and RChain. Most of the others have just regained losses over the past few days.Original linkOriginal author: Martin J. Young