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Will a Bitcoin Cash {BCH} upgrade in November bring in a higher volume of institutional interest?

Bitcoin

Born as a result of a hard fork that was carried out in 2017, Bitcoin Cash has gathered attention from thousands across the globe. In fact, using BCH as a mode of payment is simpler and faster for both merchants and the customer.

Bitcoin Cash has once again jumped to #4 as Tether slipped to #5 ahead of Litecoin in the market. The price rose at a rate of 5.32% in the course of the past 24-hours; this led to BCH shooting all the way up to $236.46 where it presently rests. The trading volume recorded stands at approximately $1.592 billion, whereas the supply has 18,045,250 BCH coins included as part of the circulation. The total market cap of Bitcoin Cash amounts to $4.266 billion.

According to the candlestick chart connected to the BCH/USD pair on tradingview [based on data obtained from the Bitstamp Exchange], buyers have stepped up their activities in the market. From 30th September onwards, the peaks tied to the Awesome Oscillator were created beneath the zero line, although their green shade points to the growing level of bullish momentum.

The daily RSI [for 14 periods] is at 41.06 which signifies that Bitcoin Cash has ventured far from the oversold territory and is part of the neutral zone. Post-6th October, the MACD line leaped over the signal line, leading to the histogram switching colors [from red to green].

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.