It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $9,174.4 to an early afternoon intraday high $9,457.2.

Bitcoin broke through the major resistance levels before falling back to $9,340 levels.

The pullback saw Bitcoin fall through the third major resistance level at $9,358.03 before returning to $9,400 levels.

Resistance at $9,400 capped the upside late in the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a bullish day on Tuesday.

Tezos led the way, rallying by 9.29%.

Bitcoin Cash SV (+5.60%), Cardanos ADA (+4.66%), Ethereum (+4.13%), Litecoin (+4.53%), also found strong support.

Binance Coin (+1.43%), Bitcoin Cash ABC (+2.60%), EOS (+2.32%), Moneros XMR (+0.68%), Ripples XRP (+2.53%), Stellars Lumen (+2.59%), and Trons TRX (+2.42%) trailed the front runners.

At the start of the week, the crypto total market cap fell to a Monday low $262.70bn before striking a Tuesday high $274.62bn. At the time of writing, the total market cap stood at $270.71bn.

Bitcoins dominance fell to a Monday low 63.20% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoins dominance stood at 63.76%.

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The Crypto Daily Movers and Shakers July 22nd, 2020 - FX Empire

The cryptocurrency market has been stuck in a rut for quite some time now, with most of its major cryptos choosing to consolidate their positions. In fact, Bitcoin, the worlds largest cryptocurrency, has been noting a kangaroo market of sorts, one wherein it has been jumping between its immediate resistance and support.

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This trend in the Bitcoin, and by extension, the larger crypto-market, became visible after Bitcoins halving in May. According to data collated by Santiment Network, the trading volume of Bitcoin declined by a whopping 75% from $106 billion to $26 billion.

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The fall in on-chain metrics was not just visible in Bitcoin, but other prominent large-cap cryptos like Ethereum [ETH], Bitcoin fork-Bitcoin Cash [BCH], and Litecoin [LTC] as well, with all of them noting a falling trading volume.

After taking the past months values into account, it can be observed that the crypto-ecosystem lost 24% of the trading volume.

On the contrary, for DeFi, it seems like summer is around the corner.

The Decentralized Finance [DeFi] space has been built on Ethereum, so the crypto has been lucky to share the growth via its extended Ethereum ecosystem. According to data, over the past month, DeFi tokens trading volume has surged by 98%. With the crypto-market devoid of much volatility, all roads seem to be leading to DeFi.

Here, it is interesting to note that this shift in interest took place in two waves one happening in May and the second one following in early-June.

The DeFi summer has 38 tokens, all of which have contributed greatly to the progress noted by the space this year. Projects like RenBTC [REN], Bancor Network Token [BNT], EthLendToken [LEND], Synthetix [SNX], KAVA, etc. have been especially notable for their contribution towards reversing the prevailing trend in the DeFi space.

Another interesting observation is that DeFis growth isnt based on speculation. These DeFi tokens exponential growth was supported by strong fundamentals, suggesting that the growth was organic.

However, might this just be a phase for traders to cash in their profits, as they did during the ICO craze? Here, it is important to note that the growth in new addresses on DeFi did not stem from any increase in the coins utility. In fact, there have been doubts within the crypto-community about the creation of a DeFi bubble. Alas, it cannot be said with any certainty how the platform will evolve in the future.

Right now, the crypto-market may have to wait for volatility to creep in and shake up the dull market. Until then, the traders seem to have found some relief in DeFi.

Read more here:

DeFi's bright summer is putting crypto-assets in the shade - Digital Market News

During the first week of July, crypto supporters noticed that Tether issued 1,010 stablecoins via the Simple Ledger Protocol (SLP) framework on Bitcoin Cash. Now theres a much larger amount of SLP-based tethers in circulation as the company has minted a total of 6 million on the Bitcoin Cash blockchain.

Digital currency enthusiasts have been watching the Tether project grow for years now and to-date the firm has $9.8 billion in total liabilities according to the companys transparency page. The USDT stablecoin is spread across various blockchains including Ethereum, Tron, Algorand, and EOS. Just recently, USDT was migrated onto the Bitcoin Cash blockchain by leveraging the Simple Ledger Protocol.

Bitcoin Cash supporters are now aware that there are over 6 million SLP-based USDT in circulation today. Data stemming from simpleledger.info and a BCH blockchain explorer shows that SLP-based tethers are circulating quite frequently. A number of BCH supporters have been discussing the benefits of SLP-based stablecoins and the Cointext CTO, Vin Armani, discussed the subject on July 11.

Armani tweeted a link from news.Bitcoin.com, which reported on millions of dollars worth of USDT stablecoins frozen in 40 addresses. You cant stop me from using a Bitcoin address for which I have the key(s). Theres no freeze address function on Bitcoin, as has been added to these Ethereum stablecoin contracts, Armani said. The Cointext founder further stated:

USDT is now available as *uncensorable* SLP tokens on BCH.

In addition to the permissionless benefits the Bitcoin Cash chain offers, the network fees needed to interact with SLP-based USDT on the BCH chain is quite minimal. A typical fee on the BCH network is only $0.003 per transaction or a third of a U.S. penny. Just recently, members of the Reddit forum r/cryptocurrency discussed how interacting with ERC20s on the Ethereum chain was quite costly. The author of the original post shared a gas fee which was $16 and said and you guys were complaining about high BTC fees WTF!? One commenter responding to the post wrote:

Sending transactions on ETH is still cheap. Interacting with smart contracts is another story

Another concept that stems from the mind of Vin Armani could essentially do away with the already inexpensive gas fees needed to push SLP-based transactions. For instance, the crypto community could leverage the Simple Ledger Postage Protocol Armani invoked in November 2019. The Postage Protocol allows SLP-based tokens to be sent without using fees (generally known as gas) to complete transactions.

In essence, the Postage Protocol allows users to pay for their miner fees using the SLP token itself, Armani explained last year. This is accomplished through the use of an intermediary server called a post office. The user sends the post office the requisite value of the needed BCH as an additional output in a transaction. Upon receiving and validating the otherwise invalid transaction, the post office attaches additional input containing native BCH (stamps) and then broadcasts the postage paid (valid) transaction to the network.

The fact of the matter is, stablecoins and any type of tokens, like non-fungible assets are much cheaper to send via the Bitcoin Cash chain. Many BCH supporters believe that in time, the market will realize this fact and migrate and build token infrastructure using the Simple Ledger Protocol. Besides being cheaper, SLP-based tokens are also permissionless and anyone from anywhere around the world can have full control over their tokens if they possess the private key(s).

What do you think about the $6 million worth of tether on the Bitcoin Cash chain? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens | Technology Bitcoin News - Bitcoin News

Bitcoin Cash 4 Hour Price Update

Updated July 24, 2020 11:19 PM GMT (07:19 PM EST)

The end of a 3 four-hour candle positive run has come for Bitcoin Cash, which finished the previous 4 hours down 1.03% ($2.45). Those trading within the Top Cryptos asset class should know that Bitcoin Cash was the worst performer in the class during the previous 4 hours.

238.62 (USD) was the opening price of the day for Bitcoin Cash, resulting in yesterday being one in which price moved down 0.67% ($1.6) from yesterday. As for how volume fared, yesterdays volume was up 18.26% from the previous day (Wednesday), and up 54.85% from Thursday of the week before. On a relative basis, Bitcoin Cash was the worst performer out of all 5 of the assets in the Top Cryptos asset class during yesterday. The daily price chart of Bitcoin Cash below illustrates.

Coming into today Bitcoin Cash is now close to its 20, 50 and 100 day averages, located at 232.14, 235.13 and 237.9 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Bitcoin Cashs price has gone down 8 them.

Over on Twitter, here were the top tweets about Bitcoin Cash:

My guilty pleasure is sleeping in an oversized Bitcoin Cash TShirt

@RyanSAdams @BanklessHQ It was done in the context of LINK making to the top 10.Grouping Cardano with Litecoin, Bitcoin Cash, Bitcoin Silver (shitcoins)as a project that has no place competing as a currency makes no sense. There was tribalism among AOL, Netcom,etc in Now we just call it the internet.

@lasvegaspokers I enjoy ACR a great deal, regardless of hiccups that occur from time to time. I was nervous about Bitcoin cash outs but my first two have been a great experience.

As for a news story related to Bitcoin Cash getting some buzz:

Bitcoin Cash Leading Dev Announces Bitcoin ABC is Moving Forward with the Grasberg DAA CoinSpice

Schet and Bitcoin ABC, however, found issues with Toomims proposal such as it was, ultimately preferring Grasberg.Bitcoin Cash Node (BCHN) lead maintainer freetrader took issue with Schets characterization of no concrete proposal having reached ABC.False: the concrete proposal (with code) of an integer-approximation ASERT by Jonathan Toomim reached ABC (and everyone else) and was discussed in the last DAA meeting, freetrader insisted in comments on read.cash.

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Bitcoin Cash (BCH) Down $2.45 Over Past 4 Hours, Fares the Worst Out of Top Cryptos to Start the Day; Eyes 100 Day Average - CFDTrading

Bitcoin Cash Price Analysis: BCH/USD short term falling wedge pattern breakout flashing buy signals

Bitcoin Cash advanced higher following the announcement that Grayscale Bitcoin Cash Trust had finally been approved for public listing on the stock market. The announcement came when the market was mostly lifeless. Following last weeks deep to $216 (support), Bitcoin Cash recovery stalled in a range between the 23.6% Fibonacci retracement level and the 50% Fibo taken between the last swing high of $232.63 to a swing low of $216.91. Read more ...

NEO is the 21st largest digital asset with the current market capitalization of $787 million and an average daily trading volume of $285 million. The coin is most actively traded on Binance and OKEx against USDT and BTC. At the time of writing, NEO/USD is changing hands at $11.42. The coin has gained over 6% in the recent 24 hours and stayed mostly unchanged since the start of the day. Read more ...

Ripple re-embarked on the journey of breaking barriers after testing the support at $0.19 last week. The recovery took place in tandem with other cryptocurrencies including Bitcoin which this time joined in the rally closing in on the resistance at $9,500. Ripple majestically rose upwards but encountered acute resistance within a whisker of $0.20. Read more ...

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Cryptocurrencies Price Prediction: Bitcoin Cash, NEO and Ripple European Wrap 22 July - FXStreet

Bitcoin, BTC to USD, rallied by 2.43% on Tuesday. Reversing a 0.56% decline from Monday, Bitcoin ended the day at $9.402.0.

It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $9,174.4 to an early afternoon intraday high $9,457.2.

Bitcoin broke through the major resistance levels before falling back to $9,340 levels.

The pullback saw Bitcoin fall through the third major resistance level at $9,358.03 before returning to $9,400 levels.

Resistance at $9,400 capped the upside late in the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a bullish day on Tuesday.

Tezos led the way, rallying by 9.29%.

Bitcoin Cash SV (+5.60%), Cardanos ADA (+4.66%), Ethereum (+4.13%), Litecoin (+4.53%), also found strong support.

Binance Coin (+1.43%), Bitcoin Cash ABC (+2.60%), EOS (+2.32%), Moneros XMR (+0.68%), Ripples XRP (+2.53%), Stellars Lumen (+2.59%), and Trons TRX (+2.42%) trailed the front runners.

At the start of the week, the crypto total market cap fell to a Monday low $262.70bn before striking a Tuesday high $274.62bn. At the time of writing, the total market cap stood at $270.71bn.

Bitcoins dominance fell to a Monday low 63.20% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoins dominance stood at 63.76%.

At the time of writing, Bitcoin was down by 0.30% to $9,373.9. A bearish start to the day saw Bitcoin fall from an early morning high $9,402.1 to a low $9,373.9.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day. Moneros XMR bucked the trend at the time of writing, rising by 0.03%.

It was bearish for the rest of the majors, with Tezos down by 1.60% to lead the way down.

Bitcoin would need to avoid a fall through the $9,345 pivot to support a run at the first major resistance level at $9,515.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesdays high $9,457.2.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,627 before any pullback.

Failure to avoid a fall through the $9,345 pivot level would bring the first major support level at $9,232 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,100 levels. The second major resistance level sits at $9,062.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers July 22nd, 2020 - Yahoo Finance

Bitcoin, BTC to USD, rose by 0.24% on Saturday. Following on from a 0.19% gain on Friday, Bitcoin ended the day at $9,189.1.

It was another bearish start to the day. Bitcoin fell to an early morning intraday low $9,120.1 before making a move.

Steering clear of the first major support level at $9,114.93, Bitcoin struck a late morning high $9,217.0.

Bitcoin broke through the first major resistance level at $9,206.83 before easing back to $9,170 levels.

Late in the day, Bitcoin broke back through the first major resistance level to an intraday high $9,217.1 before easing back.

Steering clear of the days pivot level at $9,155 through the afternoon was key to avoiding a day in the red.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was yet another mixed day on Saturday.

EOS (-0.04%), Stellars Lumen (-3.04%), and Tezos (-4.87%) saw red to buck the trend on the day.

It was a bullish day for the rest of the pack, with Ripples XRP rallying by 2.94% to lead the way.

Bitcoin Cash ABC (+1.01%), Ethereum (+1.33%), Litecoin (+1.36%), Moneros XMR (+1.17%), and Trons TRX (+1.31%) also found strong support.

Binance Coin (+0.59%), Bitcoin Cash SV (+0.64%), and Cardanos ADA (+0.60%) saw modest gains on the day.

In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $266.27bn.

Bitcoins dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoins dominance stood at 63.55%.

At the time of writing, Bitcoin was up by 0.06% to $9,194.3. A mixed start to the day saw Bitcoin fall to an early morning low $9,185.7 before striking a high $9,194.4.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day. At the time of writing, Tezos was up by 1.21% to lead the way.

Binance Coin bucked the trend early on, with a 0.24% loss.

Bitcoin would need to avoid a fall through the $9,175.43 pivot to support a run at the first major resistance level at $9,230.77.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturdays high $9,217.1.

Barring an extended crypto rally, the first major resistance level and Saturdays high would likely cap any upside.

In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,272.43. Resistance at $9,300 would likely cap any upside.

Failure to avoid a fall through the $9,175.43 pivot level would bring the first major support level at $9,133.77 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The second major resistance level at $9,078.43 should limit any downside.

This article was originally posted on FX Empire

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The Crypto Daily The Movers and Shakers July 19th, 2020 - Yahoo Finance

Bitcoin Cash 4 Hour Price Update

Updated July 24, 2020 03:19 PM GMT (11:19 AM EST)

Bitcoin Cash came into the current 4 hour candle up 0.01% ($0.02) from the open of the previous 4 hours, marking the 2nd candle in a row it has gone up. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 3rd since the previous 4 hours in terms of percentage price change.

The back and forth price flow continues for Bitcoin Cash, which started today off at 238.62 US dollars, down 0.67% ($1.6) from the day prior. The price move occurred on stronger volume; specifically, yesterdays volume was up 18.26% from the day prior, and up 54.85% from the same day the week before. On a relative basis, Bitcoin Cash was the worst performer out of all 5 of the assets in the Top Cryptos asset class during the day prior. Lets take a look at the daily price chart of Bitcoin Cash.

Notably, the current price of Bitcoin Cash is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Bitcoin Cashs price has gone down 8 them.

Behold! Here are the top tweets related to Bitcoin Cash:

My guilty pleasure is sleeping in an oversized Bitcoin Cash TShirt

@RyanSAdams @BanklessHQ It was done in the context of LINK making to the top 10.Grouping Cardano with Litecoin, Bitcoin Cash, Bitcoin Silver (shitcoins)as a project that has no place competing as a currency makes no sense. There was tribalism among AOL, Netcom,etc in Now we just call it the internet.

@lasvegaspokers I enjoy ACR a great deal, regardless of hiccups that occur from time to time. I was nervous about Bitcoin cash outs but my first two have been a great experience.

For a longer news piece related to BCH thats been generating discussion, check out:

Introducing Bitcoin Cash Logo made of Tarpapel posted in Our Sari-sari Store

Great work Thank you so much sir!!!I will definitely do my best to make the adoption of crypto especially BCH to expand.wow is nice and great article Thank you so much!Also, I will try all your suggestions and make a good way and strategies to attract more people Wow that is a really great idea Thank you so much!!!You did a great and amazing idea I hope that this article will spread and also a lot of people who has a store, Like(Big or Small strore) will do the same thing as you do.I hope too that they will adopt BCH and learn how to use it I was really hoping that.

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Bitcoin Cash (BCH) Down $0.83 Over Past 4 Hours, Fares the Worst Out of Top Cryptos to Start the Day; Entered Today Down 0.67% - CFDTrading

Source: Adobe/mikeosphoto

Kais Mohammad, a 36-year-old resident of Yorba Linda in California who nicknamed himself 'Superman29', has pleaded guilty to federal criminal charges of running Herocoin, an unlicensed cryptocurrency services business that exchanged up to USD 25 million through in-person transactions and a network of Bitcoin (BTC) ATM-type outlets. Some of the customers of the man, who charged a commission of up to 25% for his services, included criminals who used his business to launder money.

'Superman29', who is a former bank employee operated his business between December 2014 and November 2019, advertising his operations online, and attracting transactions worth up to USD 25,000, the US Department of Justice said in a statement.

It added that, in a typical transaction, he met clients at a public location and exchanged currency for them. Mohammad generally did not inquire as to the source of the clients funds and on many occasions he knew the funds were the proceeds of criminal activity. Mohammad admitted that he knew at least one Herocoin client was engaged in illegal activity on the dark web.

As his business grew, Mohammad later bought and advertised online a network of Bitcoin ATM-type kiosks located in shopping malls, gas stations and convenience stores in Los Angeles, Orange, Riverside and San Bernardino counties. These outlets enabled his customers to use cash to buy and sell bitcoin in exchange for cash that was dispensed onsite.

Mohammad processed cryptocurrency deposited into the machines, supplied the machines with cash that customers would withdraw, and maintained the server software that operated the machines, the statement said.

The US Treasury Departments Financial Crimes Enforcement Network (FinCEN) contacted Mohammad in July 2018, requesting that he registers his company. 'Superman29' complied, but he continued to violate US money laundering and financial due diligence regulations. In 2019, he agreed to exchange money for undercover agents posing as karaoke bar patrons. The agents told Mohammad they employed South Korean women who entertained men in various ways, including engaging in sexual activity. As he agreed to exchange cash that originated from illegal activities, 'Superman29' provided law enforcement with self-implicating evidence.

Mohammad was charged in a three-count criminal information, and he agreed to plead guilty to one count of operating an unlicensed money transmitting business, one count of money laundering, and one count of failure to maintain an effective anti-money laundering program, the department said. Upon pleading guilty, Mohammad will face a statutory maximum sentence of 30 years in federal prison. As part of the plea agreement, Mohammad has agreed to forfeit cash, cryptocurrency, and 17 Bitcoin ATMs that he operated as part of his business.___Learn more: Considering Stealing Bitcoin? These Two Suspects Wouldn't Recommend it

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This is How Superman29 Laundered Millions in Bitcoin and Got Caught - Cryptonews

Bitcoin cash is the only forked cryptocurrency underperforming bitcoin in 2020, according to data from Messari. The inaugural fork is only up 9% year to date.

Although most alternate cryptocurrencies (or altcoins) have rallied over the past few months, bitcoin cash the only fork around today that traded throughout the 2017 cryptocurrency bull market has been left behind. Bitcoin cash only started underperforming bitcoin in May, but two months was enough time for the forked cryptocurrency to underperform bitcoin by 18 percentage points so far this year.

Its common for altcoins to outperform bitcoin during bullish market cycles. Altcoins with low or medium market capitalizations often experience higher volatility than bitcoin, which may yield higher returns should bitcoins price also appreciate.

Bitcoin cash, on the other hand, has simply experienced more of a volatility compression compared to the other forks, especially bitcoin sv, which has a market capitalization closest to bitcoin cash, said Dan Koehler, liquidity manager at OKCoin.

Bitcoin gold and bitcoin diamond remain in a much smaller market cap bucket and thus could be experiencing higher volatility and returns as a result, he added.

Another, more fundamental possible explanation for bitcoin cashs lackluster performance is that the protocols ecosystem including developers, investors and entrepreneurs has unraveled, according to Zach Resnick, managing partner at Unbounded Capital, a BSV-long fund. Bitcoin underperforming other forks like bitcoin gold and bitcoin diamond is not surprising due to their characteristically high volatility, he told CoinDesk.

Regardless of the reason, bitcoin sv, bitcoin gold and bitcoin diamond have all outperformed bitcoin by more than 40 percentage points in 2020.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Bitcoin Cash Is the Only Fork Underperforming Bitcoin This Year - CoinDesk - CoinDesk

Just over ten years ago, Bitcoin (BTC), the world's first cryptocurrency, was invented and launched by the mysterious Satoshi Nakamoto.

Since then, Bitcoin has undergone several upgrades and been forked well over 100 times. Most of these efforts fell flat within months of launching, but Bitcoin Cash (BCH) has managed to buck the trend, becoming by far the most successful Bitcoin fork.

Though similar in many ways, there are several ideological and technical differences between Bitcoin and Bitcoin Cash which you'll want to be aware of. Here are the main ones:

From the early days of Bitcoin's existence, it quickly became apparent that the network isn't capable of handling enough transactions per second to make it a true competitor to centralized payment systems like Visa. This issue came to a head in 2017 when the number of transactions dramatically increased, causing Bitcoin's average transaction fee to climb to as high as $55 by the end of the year.

To address this scaling issue, a number of off-chain scaling solutions entered development, including the Lightning Network and various side-chain scaling options. But Bitcoin ABC (led by blockchain developer Amaury Schet) sought to keep scaling on-chain (that is without relying on offline processing or side-chains) initiated a fork of the Bitcoin protocol in August 2017. The fork occurred just after the launch of the Segregated Witness (SegWit) update, which slightly improved Bitcoin's scalability by reducing the size of transactions, allowing more to fit into a block.

This fork produced a new cryptocurrency known as Bitcoin Cash, which keeps the original Bitcoin codebase but without the SegWit upgrade, and with the maximum block size increased to 8MB.

Arguably the main technical difference between Bitcoin and Bitcoin Cash is the maximum block size allowed by each network.

For Bitcoin, the size of each block is limited to roughly 1MB, but there have been examples of blocks successfully mined that are larger than this due to the benefits of the aforementioned SegWit upgrade. Bitcoin Cash, on the other hand, has a maximum block size of 32MB (increased from 8MB in May 2018). This change significantly increased the number of transactions that can be included in each block and the overall speed of the Bitcoin Cash network.

Bitcoin Cash keeps the 10-minute average block discovery time first implemented by Bitcoin. This means that transactions are confirmed approximately equally quickly between the two chains, but because more transactions can be squeezed into each Bitcoin Cash block, the overall throughput of the Bitcoin Cash network is around 100 transactions per second (tps)compared to just 7 tps for Bitcoin (14 tps with SegWit).

Since Bitcoin Cash has larger blocks, but far fewer actual transactions compared to Bitcoin, it also benefits from lower fees. Currently, the average Bitcoin Cash transaction fee is around 0.5 cents, versus $2.07 for Bitcoin.

Besides an increased maximum block size and lack of SegWit support, Bitcoin Cash differs from Bitcoin in a variety of other ways. For one, it has several additional commands/functions enabled, known as opcodes. Back in 2018, several opcodes that are disabled in Bitcoin were re-enabled on the Bitcoin Cash chain, while some entirely new ones were also added. This difference gives Bitcoin Cash enhanced smart contract functionality over Bitcoin.

Bitcoin Cash can also be considered more centralized than Bitcoin. Right now, a single pool controls more than a quarter of the Bitcoin Cash hash rate, whereas the top three pools combined make up over 55% of the hash rate. Comparatively, the largest Bitcoin pool controls around 17.7% of the hash rate, whereas the top three contribute under 47%.

Overall, Bitcoin and Bitcoin Cash are similar in ambition and purpose, but Bitcoin has been far more successful in garnering adoptiondespite the arguable technical improvements offered by Bitcoin Cash.

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What is the difference between Bitcoin and Bitcoin Cash? - Decrypt

Bitcoin Cash 4 Hour Price Update

Updated July 23, 2020 03:20 PM GMT (11:20 AM EST)

Bitcoin Cash closed the last 4 hour candle down 0.37% ($0.87); this denotes the 4th candle in a row a decline has happened. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since the last 4 hour candle in terms of percentage price change.

Bitcoin Cash is up 4.2% ($9.68) since the previous day, marking the 2nd day in a row an increase has occurred. As for how volume fared, yesterdays volume was up 42.34% from the previous day (Tuesday), and up 66.13% from Wednesday of the week before. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Bitcoin Cash below illustrates.

Notably, Bitcoin Cash crossed above its 50 and 100 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Bitcoin Cashs price has gone down 6 them.

Over on Twitter, here were the top tweets about Bitcoin Cash:

#Tether USDt contributes to an important share of onchain volume over Bitcoin (via Omni), Ethereum and Tron blockchains.Tether is available on: Omni (Bitcoin), Ethereum, Tron, Liquid (Bitcoin), EOS, Algorand, SLP (Bitcoin Cash), OMG (Ethereum, still WIP) and more coming.

Unpopular opinion: Rebranding Bitcoin Cash with the name Cash would improve its image and adoption.

The pitch for Bitcoin in 2011 is the same pitch for Bitcoin Cash in 2020.You can send or receive any amount of money with anyone in the world, instantly, basically for free, anonymously, and there is nothing that anyone can do to stop it.

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Bitcoin Cash (BCH) Up $7.33 Over Past 4 Hours, Entered Today Up For the 2nd Day In A Row; Crosses 50 and 100 Day Moving Averages - CFDTrading

It was a mixed start to the day. Bitcoin rose to an early morning high $9,194.4 before hitting reverse.

Falling short of the major resistance levels, Bitcoin fell to a late morning intraday low $9,111.8 before finding support.

Bitcoin fell through the first major support level at $9,133.77 before rallying to a final hour intraday high $9,299.0.

Bitcoin broke through the first major resistance level at $9,230.77 and second major resistance level at $9,272.43 before pulling back.

The late pullback saw Bitcoin fall back through the second major resistance level to sub-$9,240 levels.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was yet another mixed day on Sunday.

Bitcoin Cash SV (-0.52%), Ripples XRP (-0.20%), Stellars Lumen (-0.48%), and Tezos (-0.95%) bucked the trend with modest losses.

It was bullish for the rest of the majors.

Binance Coin and EOS rallied by 5.01% and by 3.17% respectively to lead the way.

Bitcoin Cash ABC (+2.11%), Cardanos ADA (+1.15%), and Ethereum (+1.44%) also found strong support.

Litecoin (+0.42%), Moneros XMR (+0.89%), and Trons TRX (+0.68%) trailed the front runners.

For the week, it was also a mixed bag for the majors.

Stellars Lumen and Tezos bucked the trend, with gains of 5.23% and 5.55% respectively.

It was bearish for the rest of the majors.

Bitcoin Cash ABC (-3.58%), Bitcoin Cash SV (-6.20%), Litecoin (-4.71%), and Trons TRX (-3.56%) led the way down.

Binance Coin (-1.64%), Cardanos ADA (-2.23%), EOS (-1.38%), and Ethereum (-1.50%) also struggled.

Moneros XMR (-0.52%) and Ripples XRP (-0.86%) saw relatively modest losses in the week.

In the week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $266.81bn.

Bitcoins dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoins dominance stood at 63.46%.

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The Crypto Daily Movers and Shakers July 20th, 2020 - FX Empire

The response to the Covid-19 pandemic has been ruthless on the global economy and during the last six months, traditional stocks and commodities have felt extreme market volatility. Coinshares published a comprehensive report this week in regard to how bitcoin performed during the coronavirus outbreak. The seven-page study highlights how bitcoins rebound to pre-Covid price levels has unsurprisingly garnered attention amongst the investment community.

Coinshares head of research Chris Bendiksen recently published a report that discusses how bitcoin (BTC) reacted to the coronavirus outbreak and the mid-March market volatility. Despite what critics like Peter Schiff say, BTC has outperformed a great number of global assets including gold since the March 12, 2020 (Black Thursday) market rout.

Golds price per ounce was $1,589, and the price has risen 13.90% to a high of $1,810 on July 17. Bitcoin (BTC) on the other hand slid to a low of $3,870 on Black Thursday sliding -49.39% that day. However, since then the price of BTC has increased 135% where it stands today at just above the $9,100 per coin region.

The report called Understanding Bitcoin During the Covid Crisis written by Bendiksen highlights how resilient bitcoin can be. Coinshares believes that the initial tumble on March 12 was ignited by fear spreading from other markets.

It then became particularly severe due to bitcoins unique market structure, Bendiksens report notes. The overall usage of leverage in bitcoin spot and derivatives markets is generally large, but in the time leading into March 12 & 13, leverage levels were abnormally high, making them extra vulnerable to shocks.

The report continues by adding:

Interestingly, even after sustaining a drop of that magnitude, Bitcoin not only found a natural bottom, it vigorously rebounded over the succeeding weeks and liquidity levels have normalised. Not only does that demonstrate that what we observed was a market dislocation caused by exogenous shocks, not a broad revaluation, but it also shows that Bitcoin markets are highly resilient and self-correcting, even in the complete absence of external intervention.

Despite the swift rebound, the Coinshares researcher explained that due to bitcoins market structure not really changing, theres little reason to doubt the March 12 volatility could happen again. Bendiksen says there were a number of things that happened prior to Black Thursday, which can be examined again for future volatility events.

The report details that traditional financial markets were on shaky ground in early March, and a stampede for cash took place after Europe and North America implemented the initial lockdowns.

But was really noticeable was the leverage levels in bitcoin markets prior to the Black Thursday fallout.

In bitcoin markets, leverage had been building in various forms, the report reveals. USD lending rates on margin platforms were elevated, and Long/Short (L/S) ratios at spot exchanges such as Bitfinex were hovering at abnormally high levels. Having come down from twin peaks of almost 12x in late December and early January, L/S ratios spiked back above 9x in the weeks leading up to March 11. By March 17, the ratio had dropped to less than 2x.

Bendiksen also stressed that the situation on derivatives exchanges did not help and the number of outstanding BTC-collateralized loans spiked to an all-time high before the March 12 event. Despite the -49.39% drop that day, Bendiksen said that BTC eventually found a bottom between $3,500 and $4,000 per coin.

Going forward, the Coinshares report said that monitoring leverage metrics will help gauge future volatility risk. Unlike traditional markets, BTC also didnt get help from external intervention from organizations like the Fed, and [bitcoins] recovery has been stronger and faster than almost all other markets, the research paper highlights.

Bendiksens report concludes by saying:

The continued and common usage of leverage in bitcoin markets means that the bitcoin price remains vulnerable to volatility spikes. If outside events of similar magnitude were to recur, it is not unlikely that bitcoin prices would behave in a similar way. Keeping an eye on these metrics should help in gauging ongoing volatility risk.

What do you think about Coinshares recent report concerning bitcoin and Covid-19? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Coinshares, Datamish.com, Genesis Capital,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Report Shows Bitcoin's Covid-19 Recovery Stronger Than Other Markets With Zero Intervention - Bitcoin News

Hello traders!

Bitcoin Cash is looking bearish on the intra-day chart, where we see a completed Elliott wave leading diagonal in wave a, followed by a complex correction in b. We see a w-x-y move in b, with resistance at the 230/236 region, where Fib. ratio of 50.0 and 61.8 can react as reversal zones. A firm drop below the 220.1 level would suggest a wave c of a higher degree wave (v) to be underway. Sub-wave c of (v) can target area at 200.0.

Invalidation level is at 245.85.

BCH/USD, 1h

When diagonal triangles occur in the fifth or C wave position, they take the 3-3-3-3-3 shape that Elliott described. However, it has recently come to light that a variation on this pattern occasionally appears in the first wave position of impulses and in the A wave position of zigzags. The characteristic overlapping of waves one and four and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5-3-5 pattern.

structure is 5-3-5-3-5

a wedge shape within two converging lines

wave 4 must trade into a territory of a wave 1

appears in the wave one position in an impulse, in the A wave position of A-B-C

Elliott wave leading diagonal:

Interested in our services? Visit us at http://www.ew-forecast.comand try our 7-day Trial service, and get actionable Elliott Wave charts today.

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One more bearish leg to 200 on Bitcoin Cash - Elliott wave analysis - FXStreet

Bitcoin Market Update: BTC/USD rockets to $9,400 as volatility mounts

Following weeks of no action in all Bitcoin markets, the largest cryptocurrency is finally on an upward roll. From the opening value of $9,162, BTC has hit an intraday high of $9,368. Although the price has since adjusted $9,340, the potential for gains is still high especially with the entire market trending upwards. Read more ...

Bitcoin Cash (BCH) is moving fast towards $230.00. The coin has jumped by over 5% in a matter of minutes amid the global recovery on the cryptocurrency market. At the time of writing, BCH/USD is changing hands at $229.30, and the upside momentum is gaining traction. Read more ...

Ethereum is hanging at the edge of a cliff after stepping above the critical $240. The 50-day SMA is providing immediate support. However, buyers are finding it extremely difficult to hold above $240 due to the low trading volume witnessed across the board. The ongoing bullish action is taking place after confluence resistance discussed on Monday above $239 was overcome. Read more ...

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Cryptocurrencies Price Prediction: Bitcoin, Bitcoin Cash and Ethereum European Wrap 21 July - FXStreet

Bitrump white label crypto architecture for UAE market

DUBAI, UAE (PRWEB) July 22, 2020

UAE based leading crypto exchange Bitrump is helping the local crypto industry and enterprises with their highly scalable white label cryptocurrency exchange architecture and technology. The white-label solution comes with the benefit of Bitrumpss advanced architecture and cutting-edge security protocols which can be leveraged for deployment and running of a new exchange.

Owing to a global network of users and high-performance of the exchange, Bitrump has garnered well-repute across geographies. It experiences constant surges in crypto trading volume, which has helped the exchange to grow its user base.

Offering the white label architecture we want to extend our assistance and expertise in crypto technology to enterprises and entrepreneurs in based locally to start their very own exchange at half the cost and effort, mentioned Xavier Perry, the Director of Bitrump.

Bitrumps white label solution allows access to highly agile and scalable crypto exchange architecture which can be customized as per ones requirements to create the separate brand identity of the new exchange created in its image.

The leading exchange enables enhanced security and high-frequency trading of crypto assets through its white-label architecture. It comes with the promise of:

1. Quick and easy deployment of exchange making it user-ready instantly2. High liquidity being linked with other global exchanges3. AML and KYC support4. Intuitive and user-friendly interface and admin panel5. Real-time execution of crypto trade with variety in the trading pairs

Bitrumps white label exchange architecture fortifies through its augmented security solutions and protocols.

Bitrump is the worlds leading digital asset trading platform based in UAE. It supports leading cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Tether. Bitrump was founded by blockchain enthusiasts and the core team is from the worlds leading internet and finance companies, including the earliest adopters/professionals of cryptocurrency who boast of rich experience in R&D, global operations and services in the industry. The mission of Bitrump is to drive the world towards a better financial system.

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Bitrump Offers White Label Exchange Architecture to the UAE Crypto - PR Web

Bitcoin price remained well bid above the USD 9,050 and USD 9,000. BTC formed a strong support base above USD 9,000 and it recently started a steady rise. It broke the USD 9,200 pivot level and it is currently (08:30 UTC) trading above the main USD 9,300 resistance zone.Similarly, most major altcoins are showing positive signs and they might continue to rise, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, XLM, and ADA. ETH/USD is up around 2% and it is now trading above the USD 240 resistance. XRP/USD is also rising and it might surpass the USD 0.200 and USD 0.202 resistance levels.

Total market capitalization

After forming a support base above USD 9,000, bitcoin price started a steady increase. BTC surpassed the USD 9,200 resistance to move into a positive zone. As a result, the bulls took control and the price popped above the USD 9,300 resistance area. The current price action seems bullish and the price might continue to rise towards the USD 9,500 resistance.If there is a downside correction, the USD 9,250 and USD 9,200 levels are likely to act as strong buy zones in the short term.

Ethereum price is up close to 2%, and it surpassed the USD 238 and USD 240 resistance levels. ETH is showing positive signs and it could even attempt a clear break above the USD 245 resistance.If the bulls succeed in pushing the price above USD 245, the price might continue to rise towards USD 250. On the downside, there are supports forming near USD 238 and USD 236.

Bitcoin cash price is rising steadily and it is now trading above the USD 238 level. An immediate hurdle is near the USD 240 level, above which BCH is likely to accelerate higher. The next major resistance is near the USD 248 and USD 250 levels. On the downside, the USD 225 level is a decent support, followed by the main USD 220 support.ADA extended its decline below the USD 0.120 support level and it tested the USD 0.115 zone. The price is currently recovering and trading above USD 0.120. However, the price might struggle to clear the USD 0.122 resistance. The next major resistance on the upside is near the USD 0.125 level.XRP price is rising, but it is still below the USD 0.200 resistance level. A successful close above the USD 0.200 and USD 0.202 levels could open the doors for a sustained upward move towards USD 0.212 and USD 0.215. If not, there is a risk of another decline towards the USD 0.190 support level in the coming sessions.

In the past three sessions, a few altcoins climbed more than 5%, including WAVES, REP, OMG, MIOTA, STX, DGTX, and STEEM. Conversely, KAVA, BAND, RLC, LUNA, LEND, and SXP are down over 10%.

Overall, bitcoin price is gaining strength above USD 9,200 and USD 9,300. If BTC settles above USD 9,300, there are chances of more upsides towards the USD 9,500 level. Any further gains could lead it towards the USD 9,800 level._____

Excerpt from:

Bitcoin Climbs Above USD 9,300, Altcoins Gaining Bullish Momentum - Cryptonews

Bitcoin Cash 4 Hour Price Update

Updated July 16, 2020 11:19 AM GMT (07:19 AM EST)

Bitcoin Cash came into the current 4 hour candle down 0.12% ($0.26) from the open of the last 4 hour candle, marking the 3rd candle in a row a decrease has occurred. Bitcoin Cash outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle.

Bitcoin Cash closed yesterday down 1.22% ($2.81); this denotes the 3rd day in a row a decrease has occurred. This move happened on lower volume, as yesterdays volume was down 3.2% from the day before and down 45.92% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 4th for the day in terms of price change relative to yesterday. Here is a daily price chart of Bitcoin Cash.

Moving average crossovers are always interesting, so lets start there: Bitcoin Cash crossed below its 20 day moving average yesterday. Also of note is that on a 30 day basis price appears to be forming a base which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 8 out of the past 14 days.

Behold! Here are the top tweets related to Bitcoin Cash:

Our DEX now supports:Bitcoin Cash $BCHBitcoin Gold $BTGBitcoin Diamond $BCDDeVault $DVTeXperience Points $XPTrade securely, without KYC.

Why arent they asking for bitcoin cash?

@HoarseWisperer Finally the little guys get their day, the plan worked. Are we going to use part of the Bitcoin cash for pizzas and beers?

For a longer news piece related to BCH thats been generating discussion, check out:

Bitcoin Cash for beginners

Bitcoin Cash.Great article Thanks for reading =) Thanks for this information This is very informative Cain.This is very helpful for a beginner like me, like this article Thanks for reading!Sir @Cain I am a big fan since my last month of joining here in read.cash and I am getting real good information about your articles.Thank you so much @Cain for always sharing information about BCH and why it has always been the real thing!This article is good not only for beginner but also to those people with an idea regarding to crypto currencies.

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Bitcoin Cash (BCH) Down $0.26 in Last 4 Hours, Breaks Below 20 Day Average; Price Base in Formation Over Past 30 Days - CFDTrading

It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $9,102.1 before making a move.

Steering clear of the first major support level at $9,041.73, Bitcoin rose to a mid-day intraday high $9,194.0.

Falling short of the first major resistance level at $9,242.33, Bitcoin fell back to $9,141 levels before finding support.

Bitcoin briefly revisited $9,190 levels before easing back.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was yet another mixed day on Friday.

Stellars Lumen and Tezos rose by 2.22% and by 2.34% to lead the way.

Trons TRX (+0.19%) also joined Bitcoin in the green.

It was a bearish day for the rest of the majors.

Cardanos ADA led the way down, falling by 2.95%.

Binance Coin (-0.58%), Bitcoin Cash ABC (-0.24%), Bitcoin Cash SV (-0.43%), EOS (-0.19%), Ethereum (-0.33%), Litecoin (-0.45%), Moneros XMR (-0.13%), and Ripples XRP (-0.03%) also saw red.

In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $264.46bn.

Bitcoins dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoins dominance stood at 63.80%.

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The Crypto Daily Movers and Shakers July 18th, 2020 - FX Empire