Within 2 years, Bitcoin Cash has proved to be a good investment, reaching 5th position among all cryptocurrencies according to Coinmarketcap. As a prosperous Bitcoin fork, BCH is predicted to further grow. However, before we delve deep into Bitcoin cash prediction, let’s throw a glance at its history.
Bitcoin Cash (BCH) Price Analysis
Many members of the cryptocurrency community, including Ethereum and Bitcoin miners, do not accept Bitcoin Cash. Nevertheless, BCH has become a great investment tool. It is listed on different digital currency exchanges including Bitstamp, Coinbase, Gemini and Kraken
BCH Price History
It all started at about $200 for 1 BCH. Even at this index, the cryptocurrency immediately hit the top of Coinmarketcap. The rate doubled the next day. The index was stable, but after three weeks, it rose to $1,000. The community must have been convinced that it was an intentional rise, because the price immediately fell to $700.
We can observe a long and smooth dump. In the middle of October 2017, the index hit the $317 mark for 1 BCH. Then, there was a great reversal and BCH rose to $1,600.
Following this, as you remember, the market grew several times. Each cryptocurrency grew by about 400%. Some prices increased by up to 1,000%. Bitcoin Cash was at its highest level in the middle of December with a value of $4,091 per coin.
The dark days for the cryptomarket started on the 22nd of December. On this day, each project, including Bitcoin, Waves and others, began to lose positions. The Bitcoin Cash price fell to $1,000.
Going further, there was a big growth that brought the price to $1,500. That happened at the beginning of May 2018. But after this, the market went down again.
The previous winter was the worst for the cryptocurrencies market, due to the prices being at their lowest. Thus, Bitcoin Cash was traded for $80. There was a small growth that brought it up to $534, but the price has since dropped again.
BCH Technical Analysis
Nowadays, the price of Bitcoin Cash is consolidating in a flag formation, waiting for a potential breakout.
During autumn, the BCH price tested the $200 support level but recovered above $300 to form a high at $309. However, failure of the bulls to continue the uptrend resulted in the current losses below the $210 level.
However, if more buyers emerge, the coin will rise to price levels of $220 and $230. Conversely, if the $200 support level gets weak, the BCH price may find a new monthly low.
Im holding more crypto this time i buy last year when crypto are dumping buy low sell high!