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14 December 2019

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide - Bitcoin News

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide - Bitcoin News

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On Tuesday, August 13, most digital currency prices have dropped in value between 2-5% while crypto trade volumes globally have fallen to $46 billion in the last 48 hours.

BTC prices are down a touch over 3% this Tuesday as each BTC is trading for $10,984.

BTC does capture 68% of the $286 billion with a market valuation of $196 billion this week.

The cryptocurrency is down 6.6% over the last seven days and has about $15.1 billion in global trading volume.

There’s 1.27 billion in global BCH trades and bitcoin cash currently holds the sixth largest trade volume.

Many traders have noticed that BCH has outperformed a bunch of other digital assets this past week, spiking more than 10% on Sunday.

Reports reveal that the Wilshire Phoenix proposal decision may come on September 29, while the Vaneck Solidx Bitcoin Trust could be made in mid-October.

“History has proven that every reversal rally was then followed by a correction of 189 – 203 days before breaking its previous high — Currently at only 45 days correction.” If the analyst’s timeframe correlates with prior prices, it started beyond the $12K rejections this month as BTC/USD stopped short just before the $14K zone at the end of June.

Reports detail that over 700 protestors have been arrested for “taking part in a riot” and unlawful assembly.

With all of the global fears growing, larger spot gold prices have touched all-time highs above $1,500 per ounce.

Despite the 45-day long correction, with the global economy in disarray, cryptocurrency market prices remain strong.

Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency and gold prices referenced in this article were recorded at 12 p.m.

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