Crypto News | Bitcoin Cash’s upward trend

In the last market analysis for the week, we will put Bitcoin Cash’s upward trend in the focus. Opposite to general market situation, which is quite firmly pointed downwards, this cryptocurrency is showing signs of increased activity. After reaching 2961$ two days ago, the price dropped just below 2400$, but less than 24 hours later it was back to about 2670$, which is a 5.5% increase. About two hours prior to this article being written, the price broke the 2700$ barrier, but has since dipped slightly. In any case, it looks like there is some fight left in Bitcoin Cash, so if you’re looking for a currency on the rise, this may be the right choice. Some analysts see it breaking the 3000$ level within a week and possibly growing even beyond that. Given that ethereum and Ripple have lost almost 10% of their value in recent days, Bitcoin Cash’s upward trend could very well maintain itself in the upcoming days.

In other news, we need to mention that the euro went back to levels above 1.2 USD yesterday and came close to being the highest against the greenback in the last three months. The situation in Germany certainly helped that because there Angela Merkel and her party managed to make progress in negotiations with the Social Democrats. It seems that a draft for a coalition has been established, which could politically stabilize Germany if the deal goes through because Merkel’s conservatives have lost some ground after elections in September. Social Democrats will hold a convention on January 21, where the coalition will be presented to party members in more detail. Although Merkel did lead Germany with the Social Democrat’s help during the last four years, the deal is far from certain, so we recommend that you keep an eye on this convention if you’re into trading euro. Its outcome will certainly have a lot of impact. 

That’s it from us for this week, we wish you lots of luck and a great weekend!

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Author: Max Rothstein

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