{"id":151223,"date":"2021-01-10T15:48:20","date_gmt":"2021-01-10T12:48:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dash-price-explodes-100-bch-breaks-out-as-bitcoin-cools-off-below-40k\/"},"modified":"2021-01-10T15:48:20","modified_gmt":"2021-01-10T12:48:20","slug":"dash-price-explodes-100-bch-breaks-out-as-bitcoin-cools-off-below-40k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dash-price-explodes-100-bch-breaks-out-as-bitcoin-cools-off-below-40k\/","title":{"rendered":"# Dash price explodes 100%, BCH breaks out as Bitcoin cools off below $40K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27e7a270c02\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27e7a270c02\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dash-price-explodes-100-bch-breaks-out-as-bitcoin-cools-off-below-40k\/#Bitcoin_Cash_follows_Ethereums_breakout\" >Bitcoin Cash follows Ethereum&#8217;s breakout<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Dash price explodes 100%, BCH breaks out as Bitcoin cools off below $40K <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) price has once again dropped below the $40,000 level on Jan. 10 after crisscrossing it for the past three days as the spotlight shifted to altcoins. The BTC price drop comes after another failure to break through resistance at $41,500 in weekend trading.  <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/e0046cf9-de79-4b0c-a344-058419908eb9.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>One reason for the drop is likely an uptick in selling by miners. As reported yesterday, the Miner&#8217;s Position Index (MPI) that calculates the ratio of BTC leaving all miner wallets to its 1-year moving average has reached levels where miners are selling.\u00a0<\/p>\n<p>Miner Position Index looks enough to make a local top,&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1348226974045544450?s=20\">commented<\/a> CryptoQuant CEO, Ki Young Ju, right before the price dropped. <\/p>\n<blockquote><p>&#8220;They&#8217;re selling <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=cashtag_click\">$BTC<\/a>. I&#8217;m going to punt a small short to scalp <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=cashtag_click\">$BTC<\/a> in this short-term bearish market.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/b0676261-e04d-4144-96b2-f9d7dc2c46d9.jpeg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD vs. MPI. Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>\/<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\">@ki_young_ju<\/a><\/em><\/figcaption><\/figure>\n<p>Other reasons are largely technical as BTC gives altcoins some time to catch up and due to sentiment. The Crypto Fear and Greed index, for example, has remained at dangerously high levels suggesting that a pullback is likely. In fact, the metric has remained above 90 or &#8220;extreme greed&#8221; for two months, the longest period in its history.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/6e5df845-4837-4e82-b890-7ded0c7c3fef.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed index. Source: Digital Assets Data<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_Cash_follows_Ethereums_breakout\"><\/span>Bitcoin Cash follows Ethereum&#8217;s breakout<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, altseason continues with the bullishness <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently shifting from BTC to Bitcoin Cash (BCH) in Sunday trading. The latter soared from $420 to as high as $630 in the past 24 hours.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/37f73b31-18bc-41f0-818e-83812573345e.png\"><figcaption style=\"text-align: center;\"><em>BCH\/USD 1-day candle chart (Bitstamp). Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>The move marks a technical breakout from a multi-year bear market with BCH\/USD now at the highest levels since November 2018.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/d3f77287-07e2-4c0d-9900-c4c6355fbf6e.png\"><figcaption style=\"text-align: center;\"><em>DASH\/USD 1-hour candle chart (Coinbase). Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>However, the biggest gainer over the past 24 hours is Dash (DASH) with its price rising roughly 40%. During the short parabolic rally, DASH surged by over 100% from $95 to as high as $194, only to pull back to the $140 level.\u00a0<\/p>\n<p>The move also marks a technical breakout from a multi-year slump as major altcoins are now following in Ethereum&#8217;s footsteps from last weekend, which several analysts pointed out as the possible start of &#8220;altseason&#8221;\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dash-price-explodes-100-bch-breaks-out-as-bitcoin-cools-off-below-40k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Dash price explodes 100%, BCH breaks out as Bitcoin cools off below $40K &#8221; Bitcoin (BTC) price has once again dropped below the $40,000 level on Jan. 10 after crisscrossing it for the past three days as the spotlight shifted to altcoins. The BTC price drop comes after another failure to break through resistance&#8230;<\/p>\n","protected":false},"author":1,"featured_media":151224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/74c151b6-56d4-4a89-8476-f87115637d22.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75163,74937,76326,75150,73785],"class_list":["post-151223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-cash","tag-bitcoin-price","tag-dash","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/151223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=151223"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/151223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/151224"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=151223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=151223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=151223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}