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Why Bitcoin Cash, Ethereum Classic And Litecoin Are Rising
Why Bitcoin Cash, Ethereum Classic And Litecoin Are Rising
About this update from Banco De Chile
Bitcoin Cash , Ethereum Classic and Litecoin are all trading higher Monday afternoon. Shares of several altcoins are rising amid strength in .Bitcoin has in large part rallied in recent weeks due to rising demand after spot bitcoin ETFs were approved in January. However, these ETFs saw significant outflows last week, leading to a sell-off in crypto-related stocks. The market then rebounded after the Federal Reserve made dovish remarks.See Also: What’s Going On With Crypto?Bitcoin is surging above $70,000 for the second time ever. This follows a recent all-time high, followed by a retreat to $60,000. Analyst Kevin Svenson noted a potential bullish signal, spotting an “inverse head and shoulders” pattern on the four-hour chart, indicating a reversal in momentum and heightened demand. With Bitcoin retesting a crucial resistance level and gaining support, Svenson predicts a continuation of the rally towards $76,000...BCH is trading higher by 4% to $502.12ETC is trading higher by 3.7% to $32.59LTC is trading higher by 1.9% to $91.58© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.