BCH balance during the Summer 2022 halving
In the year 2022, the balances in the cryptocurrencies have not been favorable, so a balance of the main currency will be given to you in this portal to see its performance.
In a previous article, the halving and balance of BTC, the main currency in this world of cryptos, had been discussed. Together with everything, we bring you a new installment of how the rhythm of Bitcoin Cash has been, the engine currency of the Read.Cash page, from which we receive a reward daily or when we can for the articles that we publish here (or if you are lucky to receive a good amount) but hey, it will be evaluated from March 2022 to August 2022, the day before this post. The images were taken by Coinmarketcap graphics.
March-April 2022
At this first point, it is seen how the value of 1 BTC is very high compared to the sum at the time of publishing the post, March began with $320, reaching the maximum moment of $380 at the end of the third month of the year, but the bullish dominance began albeit timidly at the arrival of April where the halving was coming and BTC knew it before many of us.
May-June 2022
At the moment it is the most bearish point of the whole year, the BTC collapsed losing almost 50% of its value added to the world economic crisis that hit definitively, leaving marked the "tragic" day that was May 11 when it happened everything in the 2.0 world, especially with the great fall of TERRA and its stablecoin UST. Close to falling below $100 at some point as a consequence, but if you look at June, the bearish volume is no longer as intense as it was in May, which defines that a powerful resistance has arrived to stop the imminent fall of BTC, since then He doesn't even return the $120.
July-August 2022
The third graph takes some lines left in June 2022 where the lowest point so far this year has been found with $108, to take the said resistance that had been mentioned in the previous point, even going up to $160 at end of July, with a volume interested in keeping the figure on that path, although we are not yet back at $200. The trend is that you want to stay between $130 and $150, no more, no less.
Week of August 2022
What the previous week left from August 7 to 14 is what can clarify what has been that resistance that the BCH environment of slight ups and downs wants, to stay at that same price. It is what has practically marked these recent months after the abrupt halving. The high point of the previous day with $140 is highlighted, but the mentioned patterns remain.
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Regarding the strength of the currency, the BCH is still in the TOP 30 but unfortunately, it has shown a notable drop due to the halving, however, it is still a reliable currency when it comes to receiving and making transactions online.
What can you expect for the rest of the year? Several traders deeply aspire to the decline of BTC to seek a great rebound for 2023 as in the readings is what will happen, but this part tires so much the arrogance that those accounts that claim to be experts have, they speak as if all the users in the world crypto had possession of 5K $ or more when the reality is not like that, many do not even start which makes their ego very annoying and sometimes unrealistic to the picture, so that group is not to be trusted. Apart from the fact that the great whales continue to play in the crypto world to "lose" they do not want to stop this bullish phenomenon, apart from the world economic events.
What one recommends is to check the balance of the main currencies every day, especially BTC and ETH, from which the BCH takes the bullish or bearish performance, but above all to be guided by the daily EMA that hovers around these currencies. If you do not know what the EMA is, here is the link so that you are more informed.
