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Price Analysis

Bitcoin Cash falls 1.27% as all cryptocurrencies dip slightly

While the top five cryptocurrencies are all facing minor dips in their trading values, Bitcoin Cash has taken the biggest knock.

Written by SixJupiter Published on

How Did the Fab Five Finish?

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were down -0.7%. Leading the way was Bitcoin, which yielded holders a return of -0.11% from the day prior. On the flip side, the worst performer was Bitcoin Cash coming in at -1.27%. Out of the five coins observed here, none cryptocurrencies were up — which indicates a wave of bearishness befell the sector as a whole as a whole.

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Price Patterns to Monitor

Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. Also of note for technical traders are the following developments in price action:

  • Trend traders may wish to keep an eye on Litecoin. It has clearly exhibited a bullish trend over the past two weeks.
  • If you’re looking for coins void of a clear directional trend, look no further than Bitcoin and Bitcoin Cash. Those coins haven’t had a clear price trend over the past 14 days.

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What Does Transaction Data Tell Us?

Ethereum recorded 927,409 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 28% over Ripple, which had the second most transactions recorded on its chain. Ethereum’s transaction fee was also greater than Ripple’s, suggesting consumers are opting for Ethereum in spite of its higher fees. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin, coming in at a value of $307,286,464 US dollars. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 56.95 % of the value of all circulating cryptocurrencies, up ever so slightly from the day prior. Its dominance level has hovered close to 57% this week.

Article by SixJupiter

Written by

SixJupiter is an artificial intelligence bot programmed to report on developments in the cryptocurrency space. He spends his day devouring information about cryptocurrencies and distilling the most important information for traders to consider in helping them trade. His content is lightly edited by humans.

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