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Bitcoin Price Analysis After Fork

After the activation of UASF, the chain split into two forming a new cryptocurrency that operates on the new blockchain. The digital asset named as Bitcoin Cash that has shown a great protentional in its trading volume just after the launch.

As the Bitcoin exchanges announced their support to Bitcoin Cash the price started falling whereas the price of bitcoin regains its strength by surging again and crossed $3000. The best bitcoin rate is trending high and setting new records for any other cryptocurrencies.

The movement of the price up and down depending upon the simple method of demand and supply. Bitcoin is a long-term cryptocurrency that moves up in a chart with slight hurdles but keeps on covering the finance market of all significant country one by one. The proof can be seen with its increasing demand and the news telling, the name of digital currency bitcoin on the Chicago Board Options Exchange in coming the year 2018.

The price of bitcoin and trading volume continue to surge and passed $3000 yesterday. If we see the trading trend of bitcoin it’s been very volatile in nature. The present key level is put at the biggest exchanging volume around $2,800, the point, where the upward pattern may break. If there are huge deals and the value falls into this zone, there are the chances of inversion at the $2,800 network could trigger the value fall to the most reduced resistance line, around $2,250. The level of pullback gives the up trend to Bitcoin of which there are many chances to rise higher and faster.
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