Cryptocurrencies are attempting to claw back Tuesday’s losses with the No. 1 digital currency trading back above $9,000.
The price of bitcoin BTCUSD, +0.74% was last seen at $9,167.17, up 1.7%, since Tuesday’s levels at 5 p.m. Eastern Time on the Kraken exchange.
It has been a quiet start to the week for bitcoin which has traded inside a $500 range. The critical levels for bitcoin are the April 14-15 highs around $8,500 and the $10,000 psychological level, which is the current 200-day moving average ($9,976).
Bitcoin Cash on the march. again
After a lull, Bitcoin Cash BCHUSD, has resumed its surge higher. The fourth largest cryptocurrency added 15% Wednesday, reaching an intraday high of $1,495.
The move is a continuation of the early April run higher, which saw the price double in the space of ten days, beginning April 12. “It began with the integration of Bitcoin Cash as a payment mechanism,” said Charles Hayter, co-founder of CryptoCompare. “Now it’s a PR game.”
The battle pits Bitcoin Cash against bitcoin and could be heading to the courts. A lawsuit was filed against bitcoin.com owner Roger Ver, who promotes Bitcoin Cash. Ver is accused of misleading users into buying Bitcoin Cash by using ambiguous terminology on its website.
Although I think it’s wrong for people to claim that Bitcoin Cash is Bitcoin or for Roger and https://t.co/VKB9ZGgQk8 to mislead users with stuff like “Bitcoin (BCH)” and “Bitcoin Core”, I do not think it’s anything illegal. So this lawsuit is stupid IMO.https://t.co/DscX56mmnF
— Charlie Lee [LTC] (@SatoshiLite) May 1, 2018
What are altcoins and futures doing?