Bitcoin (BTC)Crypto News

Bitcoin Cash (BCH) is trying to bounce back, but can it get back to November levels?

Bitcoin Cash hit USD 440.55 (BCH / USD) so far today, an improvement from Tuesday’s weekday low. the Cryptocurrency seems to be calming down after a tough December, and there are signs that Bitcoin Cash and the broader cryptocurrency market may reverse and behave similarly to September.

BCH / USD

However, the trading volume is barely going anywhere for this crypto. That’s a good thing, however, as it means there will be fewer sell-offs and investors may be preparing to buy in. The trading volume for Bitcoin Cash has increased 1.35% in the past 24 hours. This number 24 crypto has been unpredictable lately, hovering between $ 420 and $ 460 for the past 10 days or so.

How the movement of Bitcoin Cash is changing

If we look at Bitcoin Cash’s performance since the decline in early December, we can see that the up and down movement has slowed significantly since then. Price fluctuations shifted dramatically between $ 428 and $ 493 in those early days after the crash, with fluctuations slowing down in the weeks that followed. Now we’re seeing a more even keel for this digital asset, with the past few days having fluctuated between $ 437 and $ 445, and even that continues to slow.

This could indicate a natural shift and an impending turnaround for the cryptocurrency as well as the larger market. Bitcoin Cash appears poised to turn bullish and move back towards the USD 450 level, which is the first resistance will be that it has to deal with.

The trading volume for Bitcoin Cash has been decreasing in the past few weeks, but now that it looks like the volatility in this crypto has subsided, buying pressure could be mounting. Bitcoin Cash is at a relatively low level in view of its annual performance. It’s an excellent time for investors to jump in and prepare for the upturn. Bitcoin Cash has broken the $ 800 mark twice this year. So it would not be a surprise if the end of the year saw a buying frenzy for the currently relatively low crypto market overall, well above its current value.

Source: Crypto News Deutsch

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