Bitcoin Cash (BCH) has just risen with the rest of the market. Can it go higher?
If you look at the Bitcoin Cash (BCH)– If you look at the course for today from 24 hours ago, you will not notice much of a difference. It is only up 0.23% which brings it to $ 433.19 (BCH / USD). However, Bitcoin Cash has soared along with the rest of the cryptocurrency market this morning after a sharp decline. We expected Bitcoin Cash to reverse the trend sooner, but the week has been tough on the market.
Bitcoin Cash briefly fell $ 429.84 to $ 423.41 and then rose to $ 436.22 about an hour later. The price has stabilized in the hours since then, which could mean this crypto is preparing to go higher. The fact that Bitcoin Cash (and much of the market) rose significantly higher than it fell this morning is a good sign. It shows healthy move in a market that could be on the verge of rebound after falling for weeks.
Predicting the movement of Bitcoin Cash
Looking at Bitcoin Cash’s trading volume, it is down 1.42%, suggesting a lack of investor engagement. Many of them appear to have a wait-and-see attitude that could quickly change if some investors take on this Cryptocurrency jump as it may seem bullish.
Bitcoin Cash is the 25th cryptocurrency and has been working separately from the regular since 2017 Bitcoin. It is designed to be scarce, with a maximum supply of only 21 million tokens to maintain its value over time.
Where to go Bitcoin Cash from here? As it begins to move up, it is currently testing the $ 435 level and could easily move above $ 445 very soon. The token was only available two days ago at this point, and there is a chance it will continue to exercise its current momentum beyond that point. At the beginning of the new year, we expect a lot of investments in cryptocurrencies that will push the market up very quickly, but only for a short time.
Bitcoin Cash’s recent peak was $ 474, but it hit as much as $ 493 earlier this month. Last month it was much higher, hitting a high of $ 723.78. With a All time high At $ 1,542.43, Bitcoin Cash has the potential to go much higher than it is now, especially if the market picks up and gets healthier in the coming months.
Source: Crypto News Deutsch