The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ […]
Bitcoin News
Does Money Transmitting Require Control? DOJ Says No in Tornado Cash Litigation
Since the Department of Justice (DOJ) filed its legal opposition to the pretrial motions of Tornado Cash developers Roman Storm and Roman Semenov, there has been a buzz within the cryptocurrency community regarding specific aspects of the court filing. A key point raised by the prosecutors is their belief that the definition of “money transmitting” […]
Bitcoin News
DOJ Counters Motion to Dismiss Charges Against Tornado Cash Developer
In a notable development, the U.S. Department of Justice (DOJ) has countered a motion to dismiss the criminal charges against Roman Semenov, a developer of the cryptocurrency mixing service Tornado Cash, highlighting the alleged strength of its case in a recent court submission. Prosecutors Assert Strong Evidence Is Coming in Tornado Cash Laundering Case The […]
Bitcoin News
Bitcoin Cash Demonstrates Resilience With Price Increase Post-Halving
Bitcoin Cash (BCH) experienced a notable fluctuation in its value surrounding its most recent block reward halving, initially dropping to 5 just before the halving but later recovering to around 6, marking an 11% increase for the day and nearly 20% for the week. The halving event, which reduced the reward for Bitcoin Cash miners […]
Bitcoin News
Bitcoin Cash Undergoes Halving Event, Sets Stage for May Upgrade
The Bitcoin Cash network has witnessed its halving event at block height 840,000, leading to a reduction in the miner reward to 3.125 coins per block from the previous 6.25 coins. Miner Rewards Halved on Bitcoin Cash Network The latest block data reveals that the Bitcoin Cash (BCH) network has undergone its anticipated reward-halving event. […]
Bitcoin News
Get Ready For A Bitcoin Cash Revolution: Analyst Forecasts Historic Breakout
Bitcoin Cash (BCH) is stirring excitement in the cryptocurrency community after respected analyst Rekt Capital posted a potentially game-changing analysis. The analysis suggests BCH might be on the cusp of overcoming a long-standing downtrend and achieving a “monumental milestone.”
For BCH enthusiasts, this potential breakout represents more than just a technical victory. It could be a turning point that ushers in a new era for the cryptocurrency. Historically, BCH has flirted with overcoming the downtrend, only to fall back within its boundaries. However, Rekt Capital believes this time might be different.
The key takeaway from my analysis is the possibility of Bitcoin Cash finally closing a monthly candle above the macro downtrend line, Rekt Capital stated in the analysis.
$BCH / USD – #BCH #BitcoinCash
Bitcoin Cash is on the cusp of making history
BCH formed upside wicks past this Macro Downtrend in the past
But it is very likely we will soon see BCH Monthly Candle Close beyond the Macro Downtrend for the first time ever#BTC #Crypto #Bitcoin https://t.co/v6gA4Wisti pic.twitter.com/IP7OB0F2OJ
— Rekt Capital (@rektcapital) March 29, 2024
The significance of such a move lies in its potential to attract new investment. A confirmed breakout would be a strong bullish signal, potentially swaying investors who have been hesitant about BCH’s future. This, in turn, could lead to a rise in BCH’s valuation and solidify its position in the ever-evolving cryptocurrency landscape.
Industry leaders point to a successful breakout as a major vote of confidence for Bitcoin Cash. It would demonstrate BCH’s underlying strength and resilience in a notoriously volatile market.
While the anticipation surrounding BCH is palpable, some caution remains. The cryptocurrency market is known for its unpredictable nature, and BCH is currently experiencing a short-term price dip of 1.6% and is currently trading at 5. However, this needs to be viewed in context of a recent 30% weekly surge, highlighting the market’s inherent volatility.
The next few weeks will be crucial for BCH. If the monthly candle closes above the downtrend line, it would be a significant confirmation of bullish sentiment. However, failure to do so could lead to a pullback and dampen the current optimism.
The potential breakout for BCH underscores the dynamic nature of the cryptocurrency space. Trends can shift rapidly, and what appears certain one day can quickly change course. This is precisely what makes the industry so captivating, with innovation and progress constantly pushing boundaries.
The story of Bitcoin Cash is a testament to the relentless pursuit of progress in the crypto sphere. Whether BCH breaks out or not, its trajectory serves as a reminder of the ever-evolving nature of this exciting and unpredictable market.
With all eyes on the upcoming monthly candle close, the cryptocurrency community waits to see if Bitcoin Cash can finally turn the corner and etch its name in the crypto history books.
Featured image from Pixabay, chart from TradingView
Bitcoin Cash Trading Escalates as Second Halving Event Nears
Bitcoin Cash (BCH) is experiencing a surge in trading activity and open interest ahead of its second halving event set for April 4, with open interest in futures perpetual contracts reaching a record high of 8 million, an increase from the previous peak in May 2021. The increase in open interest and trading activity is […]
Bitcoin News
Bitcoin Cash Rallies Ahead of Upcoming Halving and Upgrade
The Bitcoin Cash network stands on the brink of its forthcoming halving event, set to take place a week from now. This milestone will see mining rewards on the network notably reduced from their current levels. Currently, Bitcoin Cash ranks as the 15th largest by market capitalization among over 10,000 cryptocurrencies, having risen 91% against […]
Bitcoin News
Roger Ver Rejects Blockstream CEO’s Invitation, Remains Loyal to Bitcoin Cash Over BTC
Roger Ver, an early Bitcoin investor, has decided to continue supporting Bitcoin Cash (BCH) over Bitcoin (BTC) despite an invitation from Blockstream CEO Adam Back to rejoin the Bitcoin community. Ver criticizes layer two blockchain solutions, like Back’s Liquid Network, as centralized or unreliable, maintaining that bitcoin cash more closely aligns with the original vision […]
Bitcoin News
Heco Bridge Hacker Moves $137 Million in Stolen ETH to Tornado Cash
In a recent development observed by onchain alerts, the entity responsible for exploiting the Heco bridge and siphoning off millions in ethereum late in November 2023 from the conduit bridge connecting Ethereum and the Heco blockchain, transferred 40,391.8 ether to the mixing platform Tornado Cash. Heco Bridge Exploiter Transfers Millions Worth of Ether to Tornado […]
Bitcoin News