Bitcoin Cash ABC Cryptocurrency is currently on bullish momentum by 18.99% in the last 24 hours. At 04:40 EST on Thursday, 13 May, Bitcoin Cash ABC is at $45.24.
Bitcoin Cash ABC Range
About Bitcoin Cash ABC’s daily highs and lows, it’s 23.34% up from its trailing 24 hours low of $36.68 and 5.47% down from its trailing 24 hours high of $47.86.
Crypto Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Bitcoin Cash ABC’s crypto is considered to be overbought (>=80).
News about Bitcoin
According to Business Insider on Tuesday, 11 May, "The Chicago Board Options Exchange has applied with the US Securities and Exchange Commission Monday to list Fidelity’s Wise Origin Bitcoin exchange-traded fund, according to a Form 19b-4.", "In Canada, the first publicly traded ETF, the Purpose Bitcoin ETF, has been approved, as well as ethereum ETFs. "
What crypto insiders think about Elon Musk’s Bitcoin u-turn. According to Bloomberg Quint on Thursday, 13 May, "Broadly it’s a bit surprising given Tesla bought Bitcoin for their treasury in January and the argument is the same whether you’re using Bitcoin as a store of value or for transactional purposes," said Vijay Ayyar, head of Asia-Pacific at Luno Pte., in an email. ", "This may be the selloff that sets Bitcoin up for new all-time highs," said David Grider of Fundstrat Global Advisors LLC. "
Bitcoin isn’t behaving as an inflation hedge. its move still makes sense. According to Bloomberg Quint on Wednesday, 12 May, "In addition to Bitcoin selling off, we’re seeing tech get hammered (down 2%) and the real speculative stuff like the ARKK exchange-traded fund down over 3%. ", "Of course, gold, highly speculative tech, and Bitcoin all have something in common, which is that they don’t generate cash flow in the here and now. "
SEC warns of Bitcoin futures risks in mutual fund investments. According to Bloomberg Quint on Tuesday, 11 May, "The U.S. Securities and Exchange Commission has a blunt message for investors in mutual funds that have holdings in Bitcoin futures: Beware of the risks.", "His early comments have thrown cold water on speculation that the SEC would quickly approve a Bitcoin exchange-traded fund. "
Musk’s Bitcoin concerns sink crypto-linked stocks. According to Bloomberg Quint on Thursday, 13 May, "Bitcoin plunged as much as 15%, sinking to as low as $46,045 after Musk said he was worried over the "rapidly increasing use of fossil fuels for Bitcoin mining and transactions," and suspended Tesla purchases with the asset, indicating he might favor other cryptocurrencies with much lower energy usage.", "Musk said in his post that Tesla wouldn’t be selling any Bitcoin and aimed to use it for transactions once mining shifted to a more sustainable energy. "
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