Bitcoin’s cash market and network have been gathering momentum over the past few days. The first quarter of 2019 has ended, and things are looking up for digital assets.
Bitcoin prices have hit all time highs for 2019 already. BCH (Bitcoin cash) chain and market value have both improved over the last three months. The price of each BCH touched its 2019 all-time high of $193 on April 2. Bitcoin cash markets have also gathered a higher percentage (+47.6% / 30-day) than many other cryptocurrencies that have been experiencing decent gains during the last month of Q1.
So far, 2019 has been an extremely positive year for BCH and its supporters as the price and network strength has improved quite a bit. Prices are not nearly as high as they were at the end of 2017, but BCH development has spiked significantly. Additionally, numerous new BCH apps have been released over the last quarter.
Some of those new platforms so far released in 2019 include Menu.cash, Bchgallery, Cashshuffle, Badger Wallet, Neutrino, Taskopus, Lazyfox, Nakamoto Game, Memopay, Ifwallet, Cinema.cash, Paybutton, and Fountainhead Cash.
Bitcoin briefly shot past the $4,900 mark. The original cryptocurrency rose as much as 20% in Asian trading and was able to surpass the $5,000 mark for the first time since mid-November of 2018. By mid-afternoon, however, it had settled around $4,800, still up 16 % in its biggest one-day gain since April last year.
Bitcoin surged up to near $20,000 in late 2017. That was the peak of a bubble driven by retail investors.
The cryptocurrency is currently still trading up above 15% at $4,782.60, which is a sizeable increase. Bitcoin had been wavering at around $4,000 for the past three months, meaning the price was up over 25% over the previous month, according to Coinbase .
With Bitcoin’s rise, other cryptocurrencies followed suit, including Ethereum and Litecoin. The rise is unexpected and unprecedented considering the bad news that’s come out lately about the cryptocurrency business.
But one analyst had a simple reason for the Bitcoin price surge:
A big, $100 million order for the cryptocurrency that was placed overnight, and it had a ripple effect. The order spread across the U.S. exchanges Coinbase, Kraken, and Luxembourg’s Bitstamp. This was a major order by an anonymous buyer but had an overall positive effect on the cryptocurrency market.
As Bitcoin jumped up about 20%, this mysterious order has been blamed as the catalyst.
“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC,” Oliver von Landsberg-Sadie, chief executive of cryptocurrency firm BCB Group, told Reuters in an interview.
And in other Bitcoin news, the Securities and Exchange Commission still has not approved an exchange traded fund that would track to the cryptocurrency, contrary to reports.
Overall, Bitcoin is up, and the BCH community continues to move forward. The BCH protocol is currently experiencing steady development, brighter markets, and a much stronger network this year.
Wealth Strategist, FutureMoneyTrends.com
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