The cryptocurrency market is beginning to gain bullish grounds, but not in the swiftness that traders are craving. Instead, the market is taking a rather slow and steady pace. For traders, this will eventually build a stronger momentum in the next few hours and hopefully maintain this pattern through the next 24hrs.
Meanwhile, for tokens like BCH, there’s no better time to make a bigger bounce than now. Simply put, BCH has withdrawn itself from the “slow and steady movement”, and has now resorted to taking the faster route as BCH traders pump the token to attain as much as 6% in gains at press time.
A Breakout to $130
More precisely, BCH has gone up by 6.92%, a percentage that will soon cross over to 7%. Not only does this reflect flexibility in trading, as this continuous increase signifies that more traders are piling up to either sell or buy BCH, the increase in trading volume has resulted in an impressive breakout for BCH as it is now valued at $130 at press time.
BCH last hit a trading price of $130 on the 20th of January, the token even went further to hit a daily all time high of $131 but later closed at a slightly lower trading price of $123.89. Even worse, BCH closed at $122.83 the following day.
However, when trading volume moved from $187.81 million to $264.99 million as of yesterday, it was clear that traders from Lbank and Huobi Global with trading pairs of BCH/BTC and BCH/USDT had intensified trading. Lbank traders have topped the BCH market with a total of $23.04 million, while traders from Huobi Global have taken the second spot with $18.56 million in volume and counting.
According to data from coinmarketcap, BCH’s current trading volume is an estimated $283.51million. Comparing this current volume to yesterday’s $264.99 million, we see that BCH has increased by $19 million over the last 24hrs.