Bitcoin Cash has had a little bit of bad luck recently. Bitcoin ABC hard fork promised big things, big things that were seemingly unable to take off due to the terrible market climate that has forced cryptocurrencies downwards for around two weeks now. The negative trend really did take hold of Bitcoin Cash, moving its value down below $1,000.00 for the first time, in some time.
This is even more concerning when you consider that a few weeks prior to this, Bitcoin Cash teetered just below $2,000.00, a significant figure for a currency that is trying to work its way back up to its all-time high value, just shy of $4,000.00. $2,000.00 marked that Bitcoin Cash was almost half way back to a recovery of this soaring value. Overall though, the rise of Bitcoin Cash was somewhat short lived.
Now, finally, some luck has returned for Bitcoin Cash, something that the Bitcoin Cash may very well start getting excited about. This has come in two forms. First of all, the markets have, overall, taken a turn upwards and thus, we are seeing gains made across the markets. It did take Bitcoin Cash a while to catch up with this, however its rise now seems on track.
Secondly, Bitcoin Cash has received a listing on and an integration with banking solutions application, Revolut. This new integration see’s Bitcoin Cash and Ripple added to the cryptocurrency part of the application, joining the sides of Bitcoin, Ethereum and Litecoin. You can see our coverage of this story for yourself, here.
How is Bitcoin Cash now?
Well, at the time of writing, Bitcoin Cash is valued at $1,032.16, up 5.09%. Granted, it is only just floating above $1,000.00, however, with 5% gains we can expect to see Bitcoin Cash move comfortably past this over the day, assuming this small market surge is a part of a recovery and not just a short-term blip or correction. If this is the case, we could see Bitcoin Cash reach $1,500.00 once again over the weekend. This could easily come off the back of 3 days of consistent gains.
If, what we are seeing now is a part of a far bigger surge, Bitcoin Cash does have the capacity to move up over $2,000.00. Given the correct market conditions, this is indeed something that we could see happening.
Overall, bear in mind this is not investment advice. As Bitcoin Cash looks positive, it could easily fall back down. We will have to wait and see what happens through this weekend before we can truly see the full scale of this market rise.