Bitcoin Cash price analysis reveals that among the top five, Bitcoin Cash (BCH) had the best performance with a price rise of almost four percent (3.89%).
While Ethereum (ETH) had the worst performance with a rise of only one and a half percent (1.59%) within the last twenty-four hours, on average, the top five cryptocurrencies saw an increase of over two and a half percent (2.67%) across last day’s session.
Although cryptocurrencies managed to recover from the lows of 2018 and established fast-paced bulls, a correction stomped the prices once again. Now the cryptocurrencies are back on the rise once again as nineteen of the top twenty cryptocurrencies saw green across the week.
Currently, Bitcoin Cash is trading at three hundred and twenty-three dollars ($323) while Bitcoin (BTC) is trading at ten thousand and thirty-seven dollars ($10,037). Meanwhile, Ethereum, Ripple (XRP), and Litecoin (LTC) are trading at two hundred and sixteen ($216), 0.319230, and almost ninety-two and a half dollars ($92.45) respectively.
Although trades over the XRP and BCH networks were much larger than normal the cryptos along with Litecoin still do not have a clear trend. These cryptocurrencies have been moving in a state of uncertainty for the past fourteen days. These cryptocurrencies may be beneficial to the margin/rangebound traders.
On the other hand, Bitcoin (BTC) is in a clear downtrend across the same time frames; this may be an opportunity for short-sellers.
Ripple had the largest trade volume across last day’s session’s; in fact, it had almost 65 percent greater trade volume than the runner-up Ethereum. This may be due to the fact that people on the Ripple network enjoy extremely low transaction fees.
Meanwhile, the Bitcoin network conducted the largest single trade of the session. This trade was worth around one hundred and eight million dollars ($108,005,872). Moreover, Bitcoin continues to maintain its dominance across the crypto market by accounting for almost 64 percent of the total market cap.