The tide is rising and Bitcoin Cash is riding with it. In the last 24 hours, Bitcoin Cash is up nine percent meaning technical formation hints of support at $850, a previous support and bear targets from our past BCH price forecast. That aside, odds of a BCH buying follow through and confirmation of a three bar bullish reversal pattern remains high today.
Let’s have a look at Bitcoin Cash (BCH) price action:
From the News
It came as a news flash, that announcement by CoinBase that they will support ETC in the coming months. The news triggered a capital rush into a cryptocurrency that was there from the very beginning and still soldiering on as they build their legacy Ethereum coin burn blockchain adhering to the spirit of decentralization. ETC is now in the top 20 with a $1.45 billion market cap and with the new found attention, it might soon find itself shoulder to shoulder with Buterin’s Ethereum and Bitcoin Cash.
For sure, this is perfect and according to Zeeshan Feroz, the CEO of CoinBase UK the “small company did a better job of controlling information flow in this developing space. He even said prior to this, the announcement was smoother than how it was when BCH support was announced. If that was the case with zero insider trading, then undoubtedly, that would be perfect for the market. After all, as they plan to play under the SEC and FINRA rules and regulation, they must stay stain free before they receive that approval stamp.
If approved, Coinbase will be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
— Coinbase (@coinbase) June 6, 2018
Talking of regulation, all eyes will be set on China-again. This time, the market is upbeat and a little bit hopeful that the country’s financial regulators will re-look cryptocurrencies and perhaps warm up to their respective ideas. While this is definitely