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3 factors BitcoinCash can go higher

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Written by   311
3 weeks ago

Bitcoin Cash Trust An alternative approach for electronic cash is preparing for an upcoming maximum price, to the US $ 1,500 in April 2021. And of course, the increase in Bitcoin Cash can go higher. There are three factors.

The first factor is the direct listing of the crypto-asset exchange company Coinbase (COIN) on the Nasdaq stock exchange starting Wednesday (14/4/2021).

Coinbase shares will serve as a “gateway” to more conservative investors embracing crypto assets based on their value in the spot market.

From the debut of Coinbase's direct listing, it has become a very attractive factor for investors in the mainstream market. Because investors will have a more direct opportunity to buy shares of companies that play a central role in Bitcoin and other crypto asset industries, one of which is Bitcoin Cash.

The second factor, the recent surge in prices, driven by the number of companies submitting Bitcoin ETF products to the US Securities and Exchange Commission (SEC). So far, the SEC has not given the green light, out of concern about regulatory uncertainty and potential price manipulation. Even though it hasn't gotten the green light yet, many people believe that Bitcoin ETF will get permission later, one of the strong grounds is the nomination of Gary Gensler as chairman of the SEC.

Many know that Gary Gensler is a very flexible person regarding the blockchain industry and crypto assets, where Gary Gensler really understands crypto and blockchain, both technically and in business applications. It's very different than Jay Clayton.

Meanwhile, Jay Clayton is notorious for "dragging" the ICO project under SEC regulations. Among the controversial ones is the publication of XRP by Ripple Labs.

Another think source from the Head of Investments at Bitwise Asset Management, Matt Hougan believes that new derivative investment instruments can bring more capital to the crypto asset market, he said.

So with the presence of Bitcoin ETF in Uncle Sam's country, it can be considered a very important factor to boost demand for the value of crypto assets. As information, Bitcoin ETF is an investment instrument, similar to stocks in general, which will move according to the price of bitcoin. Makes investors a fully regulated way to enter the Bitcoin market without having to handle bitcoins themselves. As many have been informed at this time Bitcoin still has to face various obstacles from the SEC. This is because ETFs are classified as securities, according to the so-called Howey Test, and the SEC has authority over Bitcoin ETF regulation.

Well, Bitcoin ETF has the potential to eliminate various security and instability issues on the bitcoin market. So that investors can still be introduced to the world of bitcoin and remain in a familiar order and of course have rules and regulations.

And the third factor is the presence of technical indicators which also show the rally continues towards US $ 1,500 or more. Where the ascending triangle is one of them because the bullish continuation pattern is currently in the process of an upward breakout movement.

In April, the average trading view prediction regarding the price of bitcoin cash is set at a minimum price of $ 550 and a maximum of $ 1500. And many predictors say that BitcoinCash (BCH) price will increase according to the predicted data in the future and they also say BitcoinCash (BCH) is a profitable investment based on the forecasting.

And also because like any other month, the potential price outlook for crypto assets can be looked at through a variety of different thought processes. Where the Momentum of the year can be a factor, and April is always in the spotlight. This is because this is the end of the tax reporting year for the UK and the US. In the last 10 years, the average cryptocurrency has gained 51% in April. If this happens again this year, crypto-asset prices will certainly skyrocket upward this month.

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Written by   311
3 weeks ago
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