Crypto Rating presents the comprehensive Bitcoin Cash price prediction and forecast that provide a better insight into the current BCH market situation, future expectations concerning the price action and Bitcoin Cash market capitalization. It will help to get a grasp of what’s going on in the Crypto Market right now, adjust the trading strategy accordingly, make calculated investment and trading decisions in the future. Bitcoin Cash is a mineable coin that is presently priced at $511.04, and has the market capitalization of $9 531 061 404, which puts it on the 10 place in the global Cryptocurrency Rating. The currently available supply of Bitcoin Cash is 18 650 438 coins. It is important to the grasp of the projected changes in supply to properly calculate future market capitalization, hence the future price of the cryptocurrency under review.
The trading volume data allows to assess the overall strength of the trend, which, in turn, provides means for a more precise BCH price forecast, and predicts the shifts in supply and demand that play a decisive role in price changes in both immediate and distant future. According to coinmarketcap.com Bitcoin Cash trading volume for the past 24 hours is $7 587 472 837 that constitutes the increase from the previous day. The current tendencies with regard to changes in the average trading volume reveal the increasing demand for BCH coins on the backdrop of the decreasing supply of the corresponding cryptocurrency.
To get a better understanding of recent BCH market fluctuations, we introduce the Crypto Volatility Index (CVIX) that clearly depicts the present price dynamics and offers some hints at the possible scenarios of future price action.
Most traders come to the cryptocurrency market in search of digital assets that promise high and extremely high returns, which is achieved, among other things, through volatility that is inherent to this space. And even though the capability of most cryptocurrencies to showcase tremendous gains has been hampered by recent crises, they still remain the point of attraction for those who see this market as a good alternative to stocks, Forex, and other traditional markets. Therefore, volatility represents an immensely important aspect of crypto trading. Crypto Rating always proceeds from a range of factors in when analyzing the price of Bitcoin Cash and offering short, medium and long-term price prediction using our proprietary algorithm that successfully incorporates artificial intelligence and specifically deep learning mechanisms. Employing the CVIX provides a profound insight into the underlying sentiments in the Bitcoin Cash market as it accurately depicts the mood of the participants.
Before delving into a more detailed Bitcoin Cash price prediction, we offer a short recap of the history of CVIX, the mechanism of its calculation, and also a few important tips on how to trade when CVIX is low.
In fact, it was the representative of the traditional markets, the Chicago Board Options Exchange, that served as a birthplace of the Volatility Index (VIX). The primary purpose of the VIX is to efficiently measure the expectations of market participants concerning the price movement of the S&P 500 index over the coming 30 days. A quick reminder that the S&P 500 is arguably the most important equity index that reflects the performance of America’s top 500 corporations, such as Google, Facebook, and Apple.
Taking into consideration the Crypto Market demands and specificity we reinvented the VIX. We’ve used the original VIX as the foundation and added the showings derived from the crypto market that has been developing dynamically over the last several years. The CVIX effectively reflects the 30-day backward-looking volatility within the 10% range. We calculate the average monthly price for Bitcoin Cash and analyze the number of deviations in the indicated range. The amount of fluctuations present in the market at a given time plays a key role in determining the value of CVIX because it indicates the degree of negative tension among market participants that we simply call the fear, the main driving force behind the volatility.
We have incorporated CVIX into our price prediction model due to several key factors:
It is arguably one of the most effective instruments for determining the crowd expectations, a critical element of price movement.
The index also takes into account the occurrences in the Crypto market that has a proven, and increasing, correlation with the Bitcoin price action, a dominant cryptocurrency that exerts a profound impact on the altcoin market, including that of Bitcoin Cash.
The bullish convergence arises when the CVIX is going down, whereas the price starts plotting to the upside. In that case, our algorithm will conclude that there is a high probability of the upside action over the designated period of time.