Well, Bitcoin is still Bullish technically but because of its stability within $18000-$19000, Alt coins market started to boom. Almost each and every coin has increased by 20-30% in value since last 48 hours.
Bitcoin actually failed to break resistance of $20,000 in many exchanges after CME Futures Trading start and within few minutes it fell down to $18000 and still trading in these levels.
Now, interestingly, Bitcoin Cash (BCC/BCH), the supposed Bitcoin competitor has increased heavily since the Alt coins market started to boom. Bitcoin Cash was trading around $1500-$1700 for almost 2 weeks and suddenly it rose to $2700 and got stable around $2300.
Such rally in Bitcoin Cash has certainly caused by Bitcoin fall and its stability at current levels as well as recent announcement of Bitpay integration of Bitcoin Cash shortly.
According to Bitpay, a bitcoin payment service, the demand for other payment receival in other cryptocurrencies had become apparent and that's why Bitcoin Cash will also now acceptable as another payment method.
As per Bitpay team stated:
We will begin adding support for a Bitcoin Cash payment option this year, starting with BitPay Card loads. All BitPay invoices will include a Bitcoin Cash payment option by default in early 2018.
This news have certainly compelled investors to invest in Bitcoin Cash as it signals the widespread usefulness as well as popularity of Bitcoin Cash all around the world.
Let's have a look at Bitcoin Cash Chart:
Thanks for reading ..!!