After reaching the top of their price indices, where the value of the Bitcoin Cash for the previous 24 hours increased by 18%, exceeding the level of $300, resulting in significant growth.
Then, the cryptocurrency within a few hours demonstrated a significant decline. Rally stopped and began the process of reducing the cost may 4, 2019 at 01:00 UTC after the price reached $309. This price range was a major resistance level from April 2019.
Two-step price reduction
The fall in prices occurred in two stages: first fall the price dropped by 5.73% per hour, the second drop was a bit smaller than the previous one, by 4.88%.
Price dropped to $281, but then rebounded slightly, and at the time of publication Bitcoin Cash is trading at $286, with a market capitalization of $5,12 billion, sitting in fourth place in the world of cryptocurrency.
24-hour trading volume for the coin was $2.51 billion, with most of the sales were in exchange LBank, where the lead currency pairs BCH/BTC and BCH/USDT. The above exchange gave a total of about $473 million in trading volume. Exchange OEX is in second place, with volume of $202 million, dominated by trade through BCH/USDT.
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Tags: Bitcoin Cash