Bitcoin Cash (BCH) is once again leading the way in the cryptocurrency market with a 13% climb upwards since the weekend.
While many other altcoins have already made back the gains lost during the market crash of last November/December, Bitcoin Cash is still fighting to make back losses from the hash war coin split that took place during 2017.
Now, as some coins like Ethereum, EOS, and Litecoin are racing past those pre-November levels, there appears to be an opportunity for BCH to do likewise.
Let’s take a look at the latest BCH price action.
Looking at the chart above, we can clearly see price has broken through important resistance barriers, but there is still room for improvement.
Bitcoin Cash broke the $330 level around its 200-day EMA in early May, and the 20-day EMA is finally moving towards the 200-day EMA – a clear bullish signal. Moreover, volumes have remained strong since mid-May – the BCH market hasn’t seen such positive volumes coming in since early April.
What I expect to happen is altcoins such as BCH will continue rising against both BTC and USD. We should take into account Bitcoin now has close to 60% total market dominance, meaning it’s possible investors are satisfied with their altcoin-to-Bitcoin gains.
If order books stay on the side of buyers, which will become increasingly difficult the more price goes up, we could see BCH climbing again to the next resistance zone around $440 in just a few days.
Last month I predicted that the market was going to experience a small correction, which did come to fruition following sharp dips in price at the beginning of May and at the end of last week – so congratulations if you managed to grab some BCH at a nice discount.
Still, be aware we may experience close to 60% drops, as this did happen in a similar situation during 2015 prior to the last massive bull run.
For the time being, I expect BCH to move towards the $440 level with minimal hassle.
I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver, and discussed the most recent developments on the horizon for BCH. You can find all the details here, but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party.
I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem.
Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents:
US Dollar – BCHtoUSD
British Pound Sterling – BCHtoGBP
Japanese Yen – BCHtoJPY
Euro – BCHtoEUR
Australian Dollar – BCHtoAUD
Russian Rouble – BCHtoRUB
Bitcoin – BCHtoBTC
About Bitcoin Cash
Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017.
More Bitcoin Cash news and information
If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:
By Scott Thompson – May 21, 2019
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
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