BCH Bearish Falls and Rise
Hello everyone, hope you’re having a good weekend. In today’s post, I bring to you the BCH falls and rise and some of their predictions in the future.
BCH declines due to negative crypto sentiment
Since the beginning of the year, BCH has dropped 72%, and just under 15% over the past month.
During the December 2017 cryptocurrency surge, the price of the BCH coin soared to its all-time high, rising to $4,355.62 from $1,381.81 at the beginning of the month. By February 2018, the currency was trading around $1,000, and after rising above $1,600 in May 2018, the price stayed below that mark until the May 2021 crypto rally drove it up to $1,635.15 on May 12.
Following market rallies in September and November 2021, BCH dropped significantly below $1,000, closing the year at $430.64. The price fell on January 24 to $262.50. Following a recovery to $389.41 on March 31, it dropped to $160.07 on May 12 amid the Terra Luna crash.
The price was dragged down by a pessimistic attitude, reaching $96.00 on July 13. On July 29, the price increased to $163.60, but by the end of August, it was trading at $114.67. BCH peaked at $134.46 on September 10 before falling to $117.20 on September 13 due to a selloff.
What will happen to bitcoin cash in the future?
According to CoinCodex, the short-term outlook for BCH was bearish at the time of writing on September 14. Compared to two buy indications, 26 technical analysis indicators were indicating bearish movement. According to CoinCodex, the price of bitcoin cash may drop to $98.07 on September 19 and rise to $113.79 by October 15.
According to Wallet Investor’s projection for 2022, the price of bitcoin cash would fluctuate greatly, dropping to $49.05 in October and rising to $498.194 by the end of the year. The price might then decrease, according to the algorithm-based forecaster, to $206.892 by the end of 2023 and to $3.309 by the end of 2025.
On the other hand, DigitalCoin’s forecast for the price of BCH currency was overwhelmingly bullish, predicting that it might increase from an average of $156.55 in 2022 to $271.36 in 2023 and $495.78 in 2025. Based on past statistics, DigitalCoin predicted that the price of bitcoin cash would reach $1,653.42 by the end of the decade.
According to Coin Price Forecast’s BCH cryptocurrency price prediction, bitcoin cash prices might increase from $168 at the end of 2022 to $202 in 2023, $293 in 2025, and $573 in 2030. Well, we all wish for something positive
Gov Capital’s forecast for the BCH price was pessimistic, predicting the value of the coin to be zero by December 2022. This is hilarious; I can’t imagine something like that happening.
It's crucial to keep In mind that crypto currency markets continue to be extremely volatile when considering any predictions for the price of bitcoin cash because this makes it challenging to predict a coin’s price with any degree of accuracy over the short term and even harder to provide estimates for the long term. Therefore, forecasts made by analysts and online forecasting websites can be inaccurate.
Before making any investment decisions, it is advised that you always conduct your own research and take into account the most recent market trends, news, technical and fundamental analysis, and professional advice. Remember that past results do not guarantee future success. Likewise, never risk investing funds that you cannot afford to lose.
Thank you for your time as we expect a more positive change.
Lead image taken from cointelegraph.com
