Bitcoin Cash Price Eyes $1000 Target as Bulls Remain in Control

It is safe to say now is a good time to be involved in cryptocurrencies. With the markets showing a lot of positive momentum as of right now, it will be interesting to see how long this trend can remain in place. If the Bitcoin Cash price is any indication, things will only get better from here on out. Thanks to …

It is safe to say now is a good time to be involved in cryptocurrencies. With the markets showing a lot of positive momentum as of right now, it will be interesting to see how long this trend can remain in place. If the Bitcoin Cash price is any indication, things will only get better from here on out. Thanks to solid gains throughout this week, the Bitcoin Cash price is heading back to $1,000.

Bitcoin Cash Price Momentum Remains Strong

Similar to most other cryptocurrencies on the market, Bitcoin Cash has seen a fair bit of positive momentum in the past few days. With the value rising from $758 all the way to $978.57 in quick succession, it has become rather evident the demand for BCH is not slowing down by any means. Even so, there is a good chance this uptrend will grind to a halt at some point before the gains get too ridiculous.

Thanks to another 10.19% Bitcoin Cash price gain over the past 24 hours, things are looking pretty good This new price increase has pushed the value to nearly $1,000 and it is possible that four-digit price will be reached in the very near future. It will somewhat depend on how the Bitcoin price evolves, as there is a fair bit of resistance forming as we speak.

Bitcoin Cash has also gained 8.49% over Bitcoin itself, which is a rather promising development. Although this gain is lower compared to the actual USD gain for BCH, there is no reason to be concerned just yet. It is only normal Bitcoin gaining in value will effectively shake things up in the altcoin world as well, For now, the Bitcoin Cash price seems to in a good place, although reaching that $1,000 goal will be something to look forward to for all BCH holders.

With $741.726m in 24-hour trading volume, the demand for Bitcoin Cash appears to be growing as we speak. More specifically, the buyers are clearly dominating the market right now, even though we may see a temporary retrace in the very near future. all of these gains will not necessarily remain in place for much longer until the excitement calms down again.

As of right now, Huobi is the leading cryptocurrency exchange for BCH trading. That in itself is a rather surprising development, but also an interesting one. HitBTC is in second place, with Bitfinex lurking in third position. This is not necessarily the order most people would expect to see at this point, but it’s always good to see things play out a bit differently. With just one fiat currency pair in the top five, there is not that much fresh capital entering the market as of right now, though.

For the time being, it remains to be seen what the future will hold for the Bitcoin Cash price. Anything is possible in this industry, and we may very well see a $1,000 price later today. At the same time, it is evident there will be some negative pressure across all markets as well, as things tend to turn around whenever solid gains are materializing. For now, the charts are incredibly fun to watch.

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Bitcoin Cash (BCH/USD) approaches $1000 after another massive gain

The Bitcoin Cash price resumed its advance in today’s early trading, rising to as high as $994.79. This is Bitcoin Cash’s highest price level since March 24, which was the last time the digital coin’s price was seen above $1,000. The Bitcoin price has pulled back in more recent trading and is currently …
Bitcoin Cash (BCH/USD) approaches $1,000 after another massive gain

The Bitcoin Cash price (BCH/USD) has moved closer to the $1,000 mark, after posting double-digit percentage gains over the past 24 hours.

The fourth-largest cryptocurrency had another monster session yesterday, rising to an intraday high of $983.58, according to data from digital currency tracker Coinmarketcap. The digital coin eventually finished the session at $968.64, still significantly higher than its opening price of $890.66.

The Bitcoin Cash price resumed its advance in today’s early trading, rising to as high as $994.79. This is Bitcoin Cash’s highest price level since March 24, which was the last time the digital coin’s price was seen above $1,000. The Bitcoin price has pulled back in more recent trading and is currently trading around $980.

The Bitcoin Cash rally was likely triggered by recent bullish comments made by the chief executive officer of BKCM, Brian Kelly. Earlier this week Kelly told CNBC that he anticipated that Bitcoin Cash might have a breakout looming. Kelly pointed to the coin’s increased volatility in the past month and increased volume as indication of its potential to grow.

“Those are the first things traders look at, that I look at, to say, something might be changing here,” Kelly said. “If we get that breakout, you’re looking at higher moves.”

Meanwhile, some investors are probably raising their interest in the coin ahead of a major hard fork that is expected to take place next month. Scheduled for May 15, the software update will introduce several changes to the BCH protocol, the most notable of which is the increase of the maximum blocksize to 32 MB. Bitcoin Cash currently supports a maximum blocksize of 8 MB, eight times larger than one allowed on the legacy Bitcoin blockchain (BTC).

In today’s trading, the Bitcoin Cash price stood at $979.53, as of 09:48 BST. The digital coin has gained 10.3% in the past 24 hours.

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State of Cryptocurrency Regulations Part 13: What Israel is Doing With Cryptocurrencies

Israel has a very special place in the world of technology. The Startup Nation is unsurprisingly home to some of the best cryptocurrency startups, so it also becomes an important nation to study if one wants to understand the global regulatory scenario of cryptocurrencies. So in this article we’re going to …
Israel
Tel Aviv, Israel

Israel has a very special place in the world of technology. The Startup Nation is unsurprisingly home to some of the best cryptocurrency startups, so it also becomes an important nation to study if one wants to understand the global regulatory scenario of cryptocurrencies. So in this article we’re going to do that. Let’s get stated:

Current Legal Status of Cryptocurrencies in Israel

Cryptocurrencies are legal in Israel for payments and trading both, but doing the former is not an easy job because country’s law doesn’t recognize them as ‘currencies’. Instead, Bitcoin and all other cryptos are treated as “assets” under Israeli law, which makes using them as means of payment more difficult. If any Israeli businesses receive payments in cryptocurrencies, they can’t report those transactions in their account books as ‘payment received’ transactions. Instead, those transaction will have to be reported as barter transactions, which would require extra paperwork.

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Now as far as trading of cryptocurrencies is concerned, it’s permitted but with a steep price tag. Traders are required to pay 25% capital gains tax every time when they sell their crypto assets. Miners, businesses involved in cryptocurrency trading or individual traders who trade cryptocurrencies on a regular basis, on the other hand, are required to report profits and losses just like any normal business and pay Corporate Income Tax on their income. They also need to pay VAT at the rate of 17%.

Cryptocurrency Regulation in Israel: Recent Developments

Israeli cryptocurrency regulation story stared from December last year when country’s stock market regulator announced that it’s planning to de-list cryptocurrency companies from Tel Aviv Stock Exchange. Critical decisions related to cryptocurrency regulation followed the announcement in order given below:

  • In January Bank of Israel (the central bank of country) announced that cryptocurrencies are assets, not currencies.
  • Soon Israel’s tax authority also echoed the words of Central bank and confirmed that Bitcoin and other cryptocurrencies will be taxed as assetsinstead of currencies. Within five days country also started drafting the taxation rules for cryptocurrencies.
  • In February Israeli Tax Authority (ITA) revealed about the taxation rules officially for the first time, reiterating the factthat cryptocurrencies will be taxed just like any other assets at capital gains tax rate of 25% while businesses would be subject to marginal rate of 47%. The authority also instructed investors to report their holdings within 30 days and arrange for prepayment of taxes.
  • Finally, more clarification about the status of cryptocurrencies was provided by Israel Securities Authority (ISA) last month. ISA made it clearthat asset classification of cryptocurrencies doesn’t mean that they will be treated as securities. Instead, they’ll be considered “properties” unless they’re controlled by a centralized entity and are developed for the purpose of investment alone. Any cryptocurrency that is decentralized and has been developed for the purpose of consumption will not be considered a security, ISA said. Therefore, it became clear that according to Israeli law Bitcoin is a property instead of security.

Fortunately, Israeli legal authorities are also quite supportive of cryptocurrency companies as long as they don’t do anything illegal. In February country’s Supreme Court stopped Leumi Bank, one of the largest banks in Israel, from closing the account of a cryptocurrency exchange.

Future of Cryptocurrency Regulation in Israel

Since Israel has just announced its cryptocurrency taxation rules without any complicated regulatory mess, we can expect things to remain so in near future. In the long term they may also introduce a complete regulatory framework for cryptocurrencies as other countries are doing, but that will take some time. So for now Israeli regulatory climate is pretty stable and positive as long as you keep paying the hefty taxes.

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Cryptocurrency Market Surges to $365 Billion, Start of a Bull Rally?

Throughout this week, as CCN reported, the cryptocurrency market has been eyeing a move towards the $350 billion region. Earlier today, on April 20, strong performances of major cryptocurrencies like bitcoin and Ethereum have led the valuation of the cryptocurrency market to surge to $365 billion.
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Throughout this week, as CCN reported, the cryptocurrency market has been eyeing a move towards the $350 billion region. Earlier today, on April 20, strong performances of major cryptocurrencies like bitcoin and Ethereum have led the valuation of the cryptocurrency market to surge to $365 billion.

Altcoin Season is Back

Throughout 2018, amidst extreme volatility and recovery, investors inclined towards bitcoin as the safe haven asset. With the deepest liquidity and largest volume in the global market, bitcoin was able to sustain some stability while many cryptocurrencies recorded a free fall. Most assets declined by more than 80 percent from their all-time highs and struggled to record gains against bitcoin.

Over the past seven days, alternative cryptocurrencies (altcoins) and other major cryptocurrencies have consistently reported gains against the most dominant cryptocurrency in the market. The daily trading volume of the global cryptocurrency market crossed the $20 billion mark for the first time in April and the valuation of the market achieved a new monthly high.

In March and early April, investors were skeptical towards investing in cryptocurrencies other than bitcoin and Ethereum because they were uncertain about the short-term future of the cryptocurrency market. While altcoins tend to have intensified movements on the upside, it also has larger movements on the downside, and investors thought the risk was not worth taking.

Traders have started to take more risk than before by investing in cryptocurrencies like Ripple, Zilliqa, Nano, OmiseGo and others. As the volumes of altcoins across major exchanges surged, altcoins began to outperform bitcoin on a weekly basis, and it is possible that ERC20 tokens outperform major cryptocurrencies on a monthly basis by the end of April.

The next major target for the cryptocurrency market is the $400 billion mark and by surpassing that threshold, the cryptocurrency market would achieve a two-month high. At this juncture, it is safe to conclude that bitcoin has bottomed out at $6,000 and the market has begun a rapid recovery to its previous levels.

If the bitcoin price breaks the $9,500 level in the short-term, ideally within the next week, it is entirely possible that the cryptocurrency market surpasses $400 billion within April, in the next 10 days.

The Relative Strength Index (RSI) of bitcoin is in the 57 range and is signifying a neutral zone. Bitcoin is neither oversold or overbought based on current levels, as demonstrated by two momentum oscillators RSI and Williams’ Percent Range.

Both simple and exponential moving averages are indicating buy signals for bitcoin, as it continues to gain strong momentum. From this point, traders are expecting the bitcoin price to cross $8,500 and potentially make its way into the $9 billion region.

Ripple, Rchain, Verge

Non-ERC20 tokens like Ripple and Verge were the best performers on April 20, with solid 20 percent gains. Both Ripple and Verge have performed strong against bitcoin throughout April and they are continuing to build momentum against bitcoin and Ethereum.

Featured image from Shutterstock.

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Cryptocurrency Endorsements – Why We Think It’s Here To Stay

When people are talking about it, it’s probably going to stay right. But when the world most successful people have a hand in it, then we are confident it’s going to stay. If they can invest billions of dollars into it, why not do the same. A lot of people have had different things to say about cryptocurrencies, …
Cryptocurrency Endorsements - Why We Think It's Here To Stay

When people are talking about it, it’s probably going to stay right. But when the world most successful people have a hand in it, then we are confident it’s going to stay. If they can invest billions of dollars into it, why not do the same.

A lot of people have had different things to say about cryptocurrencies, Bitcoin to be precise. Some have said negative things and reversed their statements in recent times.

Mark Cuban, a billionaire and famous businessman had once condemned Bitcoin, calling it a “bubble.”

Early this year, Cuban announced in a tweet that the Dallas Mavericks, an NBA team which he owns would accept Bitcoin from its next season. He had also shown his interest in cryptocurrencies when he tweeted:

“I might have to rewrite all these replacing stocks with $btc. Might have to finally buy some.” – @mcuban

Way back in 2014, Bill Gates, a self-made billionaire, and one of the richest in the world was positive on Bitcoin and Cryptocurrencies at large. Saying that cryptocurrencies offered a better means of transaction, as it’s way more convenient than the fiat currency.

Well, the good news, it’s not the “big boys/investors” who have something positive to say about cryptocurrencies. There have been a couple of celebrity endorsements as well.

Paris Hilton, a former TV star had shown interest in the cryptocurrency market as far back as 2016.

The heavyweight champion, Floyd Mayweather also showed his interests in cryptocurrencies on Instagram on two different occasions. He shared a photo of himself in a private jet next to a table covered of cash saying he was going to make a ton of money from an ICO; the Stox.com ICO which was to release a bitcoin prediction market product.

Another celeb whose actively into cryptocurrencies would be Jamie Foxx. He became part of the crypto community by promoting the Cobinhood token sale, which is a free cryptocurrency trading exchange through a tweet saying:

“Looking forward to participating in the new @cobinhood Token! ZERO fee trading!”

With facts mentioned above, we can conclude the cryptocurrencies and related technologies ain’t going anywhere shortly. And as more and more people get to know about this new currency, we should expect to see prices making new highs.


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