Bitcoin Cash is the world’s second largest cryptocurrency with an exchange volume of $ 879 million.
The Korean market accounts for most of the market volume.
The BCH went from $ 300, around 500 to November 1.
This rise comes just before the hard fork, which should focus on fixing the Difficulty Adjustment Algorithm (DAA), which will take place on November 13th at 14:06 GMT.
Markets seem optimistic
Despite this, the markets seem optimistic, and according to the graph of the last week the currency has experienced a nice recovery and its average is above the 200 USD it posted on average this last month.
If we analyze the graph of the past 24 hours we see a strong surge due to overbought that suggests that traders are only readjust their positions.
Traders think the BCH will continue to ride
Many traders believe that the BCH will continue to climb, as crypto currencies could be a safe haven against the SegWit2X approach.
There is also a parallelism between the SegWit2X approach and the rise of BCH.
In addition, the BCH community seems satisfied with the next hard fork.
Traders will use BCH
If BCH markets undergo a correction it should first have a floor around 450 dollars.
Then prices could reach $ 700, with key points being $ 475 up and $ 400 down.
Bitcoin Cash could in the next few years break historic records.