Bitcoin Price Analysis – BTC is Back On its Recovering Track after Pausing – Bitcoin Development
Bitcoin price weekly-long increase nearing the psychological $4,500 zone, fell back over the weekend lower than the once $4,000 all time high.
All this came due the selling pressure that traders and investors wanted to book for profit over the weekend and gain from the excellent climb that the cryptocurrency experienced against the US dollar. On the other side Bitcoin Cash rise in price and trading volume increased the demand for BTC knowing that to trade using BTC is easiest for BCH traders for the moment.
At around 8.00 a.m. BST BTC price descended lower than the $4,000 mark. Just an hour later it returned recovering to a good-for-start $4,025. Even with the weekend dip, it is still very close to its once all-time high of $4,479 while for the moment being traded at around $4,100.
Around the Crypto World
Bitcoin Cash – a new cryptocurrency created by the hard fork split from Bitcoins blockchain netowkr i at around $664.53 while dipping now after very attractive increases during the weekend. Its trading volume of $3.1 billion has even passed Bitcoins right now.
Ethereum the Second in command when it comes to market cap is at around $322.80 after finding support at around $280 and returning to its original path of upward surging.