The price of Bitcoin Cash nearly broke through the $250 barrier before being denied, continuing to rise in line with the overall trend of Bitcoin. BCH is not entirely safe even though it is still trending upward after being removed from one cryptocurrency exchange.
Bitcoin Cash Is Delisted by EDX Markets
The sudden delisting of Bitcoin Cash (BCH) from the EDX Markets cryptocurrency exchange comes as another blow. Social media rumours about the exchange discontinuing support for BCH quickly gained traction among users.
The cryptocurrency exchange will eventually verify these rumours, with a representative confirming that EDX Markets did, in fact, stop supporting BCH.
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In contrast to standard practise, EDX Markets did not provide a reason for the cryptocurrency’s delisting from the exchange. Instead, customers were told to visit the website to see which coins are supported and to subscribe to the newsletter in order to receive information regarding listings.
It’s interesting that this is taking place at the same time as there have been rumours EDX Markets may list XRP. This makes sense in light of the fact that several exchanges have rejected cryptocurrencies following Ripple’s triumph over the SEC. Since then, the volume of XRP has been rather significant, and cryptocurrency exchanges have clamoured to be included in the action.
The Price of BCH Cannot Hold On
The price of Bitcoin Cash (BCH) has found it difficult to maintain its prior trend in the wake of the $250 level rejection. Before the bulls could seize control again, a sizable number of long positions were shaken out by the decline towards the $240 mark.
After increasing 36% in a single day, the BCH daily trade volume is continuing showing strong growth. If anything, the fact that traders are paying close attention to the cryptocurrency suggests that there is still some kind of interest in it.
The $250 mark serves as the main barrier to a BCH breakthrough at the moment. The surge is predicted to continue and may reach $270 before fading if the price is able to break over this obstacle. However, it has still not returned to its $300 annual peak.
BCH is down 3.75% on the weekly chart and trading at $243 at the time of writing. But after increasing by 2.23% in the past day, it is now operating considerably better.
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