Bitcoin Cash is a digital asset that tends to track the price of Bitcoin. After staging a major rally this week, Bitcoin Cash has declined by more than 32% from its YTD high. This decline is mostly because of the overall weakness of the cryptocurrency industry where most currencies have retreated. Indeed, Bitcoin price has dropped from its all-time high of almost $65,000 to the current $45,000. There are three primary reasons for this. First, Elon Musk’s tweets on Bitcoin have led to significant volatility as investors assess whether Tesla is about to sell the currency. Second, worries of potential interest rate hikes remain after the recent spike in inflation. Finally, there are worries about Tether, the biggest stablecoin in the world. This is after the firm disclosed that it held less than 3% of cash reserves instead of 100%. Source: https://www.investingcube.com/bitcoin-cash-price-prediction-its-not-looking-good-for-bch-bulls-cryptocurrencies/ BCH price is not seeing any hike at the soonest. Best to HODL until the next moon. #Club1Bch
Log in to join in Reading is open to everyone. Replying needs an account.
No comments yet