Latest Bitcoin Cash News

It is common sense, for any project to be successful—it doesn’t matter if it is blockchain based or not, then it must perform as advertised. If it was designed to be fast, cheap and open source then it must operate as billed. Bitcoin showed the way but in late 2017—months after the hard fork that lead to Bitcoin Cash, the network was the most expensive in the world and transaction could sometimes take hours before it was settled. But gone are those days and Bitcoin Cash has since undergone several software upgrades making it faster, cheaper and more resilient.

Read: UK Derivatives Exchange Crypto Facilities Adds a New Revenue Share Program to Reward Liquidity

In fact, its properties have since made the Wikimedia Foundation switch payment processors. Citing increasing demand from donors wishing to contribute via Bitcoin Cash, the Wikimedia Foundation has a new partnership with BitPay—the world’s largest payment processor trusted by individuals, government agencies, as well as other IRS, approved non-profits. With this new arrangement, Wikimedia can now accept Bitcoin Cash from several donors.

This is what Pats Pena, Director of Payments and Operations, Wikimedia Foundation had to say:

“Our donors have shown an increased interest for different cryptocurrencies, so accepting Bitcoin Cash was a natural next step.”

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Her comments were complemented by Sonny Singh, Chief Commercial Officer who said:

“Bitcoin and Bitcoin Cash are one of the cheapest payment options available so more money goes to charity rather than paying fees. Wikimedia does so much good around the world that it is a privilege to help them raise money.”

Meanwhile, BCH is one of the top performers in the top 10. Although gains are not double digits, there is a visible expansion and rejection of lower lows. By yesterday’s close, the coin was up 6.66 percent but is now up 3.4 percent in the last day. What’s important is that BCH is finding support at key levels against the USD. From the chart, it is clear that bears are in charge of a top-down approach.

However, when we take a short-term overview, bulls are in control and yesterday’s bull bar did lead to a double bar bull reversal off pattern off $110. The level is the 78.6 percent Fibonacci retracement mark anchored on Dec 2018 high low.

Encouragingly—and as dictated by Fibonacci reversal rules, it is likely that prices will rally towards $230 or Dec 2018 highs. The mark doubles up as our immediate resistance line and any comprehensive, high volume break and closes above $230 would open doors for $400 as emphasized in our previous BCH/USD trade plans.

Before then, patience is paramount. We shall need a confirmation of yesterday’s gains and once prices rally above $135, aggressive traders can buy on dips in lower time frames with first targets at $230.

All Charts Courtesy of Trading View–CoinBase

Disclaimer: Opinions are those of the author. Do your Research.

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