Cryptocurrency Market Struggles to Record Gains

While the majority cryptocurrencies in the market recorded a 1 to 3 percent decline or increase in price, the value of Bitcoin Cash skyrocketed by 25 percent, leading traders in the cryptocurrency community to suspect a short-term pump. Over the past few weeks, throughout the large correction, cryptocurrencies in the global market moved on a similar trend led by bitcoin and Ethereum. Apart from several rare instances wherein small market cap cryptocurrencies like FunFair increased for a brief period of time, the majority of cryptocurrencies in the market moved up and down simultaneously. However, in the past 24 hours, the price of Bitcoin Cash increased from $995 to $1,250, with volume heavily concentrated on OKEx, the Hong Kong-based cryptocurrency exchanges operated by OKCoin, formerly the largest cryptocurrency exchange in China prior to the country’s cryptocurrency trading ban in September 2017.

Reference: https://www.ccn.com/cryptocurrency-market-struggles-record-gains-bitcoin-cash-spikes-25/

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