Binance makes traders generous gift - Bitcoin Cash with potential

After the dramatic fall in prices since the beginning of the year, during which Bitcoin Cash more than halved, the crypto currencies have now taken the curve. Bitcoin Cash lost just over 0.2% to $ 1,274 on Friday, but posted the biggest weekly gain of over $ 100 in the current year.

On the last trading day of the week, BCH / USD hovered indecisively sideways for a long time in a low-impulse environment, but was able to break into the profit zone in the afternoon. The news came from South Korea, after which the crypto exchange Binance went online again. Speculation about a possible hacker attack, the stock exchange operators have rejected.

As compensation for the technical issues and the resulting inconvenience, Binance has granted all its users a 70 percent discount on trading fees up to and including February 24.

However, Bitcoin Cash also received support because of its technical advantages over Bitcoin and other cryptocurrencies. For example, Bitcoin Cash transaction costs are much lower and faster. An advantage that now pays off.

Over the past two days, Bitcoin Cash has rallied a good 80 percent and Bitcoin's little brother is storming to the top performers of cryptocurrency this week.

The upside in this coin, however, is still limited by the chart resistance to $ 1,340. However, the hourly chart shows a bullish flag and so it would be no surprise if the course breaks out in the next few days. The next price target is then in the price region around $ 1,550. An important key support is around $ 1,200.