Bitcoin [BTC] and Ethereum [ETH] are back in the green zone and the market capitalization has crossed the $400 mark. Bitcoin crossed the $9000 mark recently but it could not stay above the mark. At 12:53 PM UTC, the total market capitalization was at $400.390 billion.
The Bitcoin dominance stands at 37.9%. Bitcoin is currently pushing its price towards the $9000 mark and the coin currently has a market capitalization of $151.554 billion. Experts are of the opinion that the hike in Bitcoin’s price may be due to the crash in the stock market. The biggest gainer in the last 24 hours is Bitcoin Cash [BCH] with a major gain of 19.87%. The coin also gained by 1.85% in the last 24 hours.
Stellar Lumens, after staying green in the last week has gone into the red zone with a 1.725% loss in the last 24 hours. After Ripple [XRP], Stellar is the next to have had a loss.
Our sentiment analysis segment provides you with quality sentiments of people from around the world and their valuable comments are recorded in this segment as it is. The expert opinions of people are based on the current market trends and possible outcomes of the coins. This is done after interviewing a group of analysts, investors, skeptics, miners, influencers to ensure that our readers get a wholesome picture of the market. This analysis is on Bitcoin Cash [BCH] which is currently at the 4th spot in the rankings.
Bitcoin Cash [BCH]
At 1:10 PM UTC, Bitcoin Cash was seen to be trading at $1423 with a market capitalization of $24.319 billion. The coin still retains its upside momentum and is seen to be testing the resistance. The target set for the coin is at $1540 which also is the point where it stopped the upside momentum last February.
The coin went to a high of $1459.7 which is the highest mark since February. The hourly charts indicate a bearish trend for the coin as the MACD is about to cross and the RSI is heading towards an oversold position.
Lisa May, a banker from Chester says:
“There is a bearish trend waiting in line for the coin and it may take it down to the swing lows. It may take it down till the $1000 level but soon will be reversed with a major bullish reversal. This bull run will take the coin up to the $1500 level. ”
Matthew Fowler, an altcoin miner from Mexico City says:
“Do not give in to the FUD regarding Bitcoin Cash that is perpetuated by the Bitcoin loyalists. The advantage of BCH is in its near non-existent transaction fees making it superior for person to person transactions. Target for the coin is possibly at $1600 and after which it may dip a little to come back to the next target at $2000.”
Kim Thomas, a journalist from Brisbane says:
“The cup and handle formation resulted in a price action that shows a bull flag with slight downward pressure before breaking out of the overhead resistance. The upside is capped with a resistance at $2011 and the immediate resistance is at $1473. If this is broken then there is chance of the coin hitting the $1780 mark.”
To conclude, 55% of the Bitcoin Cash respondents feel bullish and they are of the opinion that the bull will take to the $2000 level soon. Another 45% of Bitcoin Cash respondents feel that the coin may form another cup which may take it down to the 1000 level.