Altcoins

Bitcoin Cash Market Report: Coinbase Lists $BCH

Brief:


Coinbase listed Bitcoin Cash today and markets everywhere exploded. Bitcoin Cash is up 54.75% in 24 hours, up 103.32% on the week and up 176.53% on the month on a last price of $3,253.10. The Bitcoin Cash marketcap is $54,865,564,688 with a circulating supply of 16,865,625 $BCH. $BCH/USD is trading between a 24hr high of $3,676.00 and a 24hr low of $2,072.00 on a 24hr Bitfinex volume of $1,012,000,000. In today’s light to moderate volume trading the weekly trend is mixed.

Last price

3253.10 $BCH/USD

$USD

last price $ 3253.10
one week ago $ 1600.00
percentage 103.32%

Volume

Volume

$BCH 24 hour volume
USD $1,012,000,000
all $BCH currencies $7,337,570,000

The 24 hour volume for $BCH/USD on Bitfinex is $1,012,000,000. This volume weight is light to moderate when compared with Bitfinex daily trading levels for $BCH over the last month.

The total 24 hour volume for all reporting $BCH markets is $7,337,570,000.

Market Share

The Bitfinex currency pair $BCH/USD is 13.79% of all $BCH traded in twenty-four hours. Bithumb holds top daily market share with ~16%. Bitfinex is only ~3% behind Bithumb.

Remarks

Coinbase listed Bitcoin Cash today and markets everywhere exploded. Bitcoin Cash is up 54.75% in 24 hours, up 103.32% on the week and up 176.53% on the month on a last price of $3,253.10. The Bitcoin Cash marketcap is $54,865,564,688 with a circulating supply of 16,865,625 $BCH. $BCH/USD is trading between a 24hr high of $3,676.00 and a 24hr low of $2,072.00 on a 24hr Bitfinex volume of $1,012,000,000. In today’s light to moderate volume trading the weekly trend is mixed.

When the alt coin Bitcoin Cash ($BCH) was listed on Coinbase traders rushed to buy and later to sell. The panic buy pushed prices well beyond what was sustainable and set new all time highs for this digital asset. The dizzying price of $3,676.00 was reached on Bitfinex.

Poloniex and Bittrex also saw similar price action as Bitfinex, with the price on Bittrex tending to be higher at times, sometimes rising while the price on the other two exchanges fell.

One Twitter user cried foul and remarked that the big price climb started prior to the actual $BCH listing on Coinbase (GDAX). Others applauded the move:

BCH was trending on Twitter with over 41K tweets.

The rally comes at a time when we see the price of bitcoin ($BTC) falling substantially, down -11.89% in twenty-four hours.

CoinMarketCap.com YTD Chart

One Day Candles

Browse Bitcoin Cash Collection

Learn about the unique characteristics of $BCH. Browse our collection of Bitcoin Cash Market Reports.

Wednesday December 20 2017 Bitcoin Background

Altcoins such as Bitcoin Cash may show a relationship with bitcoin (BTC) which changes with the alt, bitcoin and market conditions:

24 Hours of Bitcoin
24 Hours of #Bitcoin
-11.89% price $16,781.00
vol $18,763,100,000
mktcap $281,128,938,172
16.75M #XBT 06:07 #FinTech
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Yesterday

Altcoin Market Reports
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Price change

Price change is the $BCH percentage change within the period:

period change
day 54.75%
week 103.32%
month 176.53%

Highlight Chart

Tap / click to enlarge:

Coinbase listed Bitcoin Cash today and markets everywhere exploded. Bitcoin Cash is up 54.75% in 24 hours, up 103.32% on the week and up 176.53% on the month on a last price of $3,253.10.
Coinbase listed Bitcoin Cash today and markets everywhere exploded. Bitcoin Cash is up 54.75% in 24 hours, up 103.32% on the week and up 176.53% on the month on a last price of $3,253.10.

Data source

Bitfinex is the main data source for this report. Other sources are credited where used.

Market capitalization

Market capitalization is the total $US dollar value of the Bitcoin Cash market calculated using the formula:

market cap = ( circulating supply x last price )
Market cap $ 54,865,564,688
Circulating supply 16,865,625
Last price $ 3253.10
Circulating supply data courtesy of CoinMarketCap.com.

$BCH has market capitalization in the top three. Only Bitcoin ($BTC) and ethereum ($ETH) have more marketcap.

Daily High Low

daily high 3676.00
daily low 2072.00

Trend

The weekly trend is mixed.

trend is MIXED

Resistance

Resistance is the highest price within the period:

period resistance
day 3676.00
week 3676.00

Support

Support is the lowest price within the period:

period support
day 2072.00
week 1250.00

Market sentiment

Market sentiment is tentatively neutral. We saw profit taking after the high was reached. Also the Coinbase listing came later in the day. This gave the American exchanges and the bulk of American traders time to respond immediately. We may not see the full effect of the news on the Korean exchange Bithumb.com until Korean traders finish their daily trading.

sentiment neutral

Image courtesy Pixabay.com

Summary

Coinbase listed Bitcoin Cash today and markets everywhere exploded. Bitcoin Cash is up 54.75% in 24 hours, up 103.32% on the week and up 176.53% on the month on a last price of $3,253.10. The Bitcoin Cash marketcap is $54,865,564,688 with a circulating supply of 16,865,625 $BCH. $BCH/USD saw weekly and all time resistance at $3,676.00 and weekly support at $1,250.00. Market sentiment is neutral to bullish. The weekly trend is mixed in today’s light to moderate volume trading.

Analytic Strategy: Objective Analysis

Objective analysis begins free of subjectivity. Interpretation of technical analysis geometric patterns, for example perceived shapes on a trading chart, is inherently subjective. This report is free of technical subjectivity to the maximum extent reasonably possible.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Wednesday December 20 2017 05:59 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

Thanks for reading! 🙂

Tags

Bitcoin Cash, $BCH, USD, Bitfinex, Market, Report, $BCH/USD, altcoins

KittyBitcoin supplies blockchain intelligence on http://kittybitcoin.com, on industry leading websites, and through white label channels since 2014. Follow @KittyBitcoin on Twitter®.
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