Bitcoin Cash price prediction: 3 reasons why BCH rebounded

Bitcoin Cash price prediction: 3 reasons why BCH rebounded
фото показано с : invezz.com

2021-7-22 07:59

The Bitcoin Cash (BCH/USD) price rebounded on Wednesday as cryptocurrencies and global stocks rallied. The coin rose to $$430, which was substantially higher than this week’s low of $382. 

3 catalysts for BCH rebound

The BCH price declined sharply on Monday as the fear and greed index crashed to the lowest level this year. This performance came as the number of new Delta cases in countries like the US, Germany, France, Australia, and the UK rose. As such, people were generally concerned about the potential for more lockdowns even as the vaccination process continues.

The Bitcoin Cash price has therefore rebounded because this fear has eased. The fear and greed index, a tool developed by CNN Money, has moved from 17 on Monday to 25. This trend has coincided with the fact that global stocks too have risen. The Dow Jones, FTSE 100, and Nikkei 225 have all erased their Monday losses as fears of the new Delta variant ease.

Second, Bitcoin Cash has risen because of the positive comments about Bitcoin by Elon Musk and Jack Dorsey at the B-Word Conference. In a statement, Elon Musk said that he was long Bitcoin, Dogecoin, and Ethereum. He also confirmed that SpaceX and Tesla were all invested in Bitcoin. Most importantly, he noted that he was committed to returning Bitcoin as a payment option in Tesla.

While Elon Musk did not directly talk about Bitcoin Cash, there exists a close correlation among cryptocurrencies. In most cases, a jump in Bitcoin is usually followed by a strong performance by other cryptocurrencies.

Finally, the BCH price has bounced back because of the overall performance of Bitcoin. After crashing to below $30,000 this week, Bitcoin rose to more than $32,000 overnight. This is a sign that there are still buyers in the market.

Bitcoin Cash price prediction Bitcoin Cash price chart

The four-hour chart shows that the BCH price formed a double-bottom pattern at the important support at $382. The current rebound is also partly because investors are wondering whether the price will move below this support. The price has rebounded and moved to the 50-period moving average while the MACD has started rising. 

Therefore, the coin will likely resume the downward trend since relief rallies rarely last. If this happens, a more severe decline will be confirmed if the price moves below $382.

The post Bitcoin Cash price prediction: 3 reasons why BCH rebounded appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin Cash (BCH) на Currencies.ru

$ 457.41 (+0.49%)
Объем 24H $459.024m
Изменеия 24h: 2.10 %, 7d: -15.55 %
Cегодня L: $444.51 - H: $460.11
Капитализация $9.059b Rank 20
Цена в час новости $ 431.79 (5.93%)

bch price bitcoin cash rebounded catalysts year

Источник: invezz.com

bch price → Результатов: 126


Why Is Bitcoin Cash (BCH) Token Price Up?

Bitcoin Cash (BCH), one of the leading cryptocurrencies, is witnessing a surge in price and investor interest ahead of its upcoming halving event scheduled for early April 2024. The spike in demand has been fueled by two key factors: the imminent reduction in new BCH supply and reports of massive accumulation by large investors, often […] The post Why Is Bitcoin Cash (BCH) Token Price Up? appeared first on CaptainAltcoin.

2024-3-29 19:50


BCH / USD Price Analysis: Staging Recovery

BCH has a neutral short-term trading bias, with the BCH / USD pair testing towards its 200-period moving average on the four-hour time frame Bullish MACD divergence has now been reversed on the four-hour time frame BCH continues to hold price above its 200-day moving average Bitcoin Cash / USD Short-term price analysis BCH has […] The post BCH / USD Price Analysis: Staging Recovery appeared first on Crypto Briefing.

2019-5-2 17:16


Фото:

3 Cryptocurrencies Well-Positioned to Beat BTC Price in Q4 (AMB, BCH, ADA)

This week’s cryptocurrencies market analysis will concentrate on technological advancements in the blockchain space in quarter 4.  The analysis will focus on major technological upgrades occurring in quarter four along with Ambrosus (AMB) being a top contender to produce returns well in excess of 100% in the immediate short term.

2018-10-20 20:00


Bitcoin Cash Price Analysis: Bitmain IPO speculation runs out of steam

The BCH token enjoyed a strong end to September on news that key investor Bitmain had filed for an IPO, but its price has since fallen away. Like many other tokens, BCH’s short-term price fluctuations appear tied to speculative news, but the network’s long-term health will be dependent on its ability to increase its user base and organic onchain activity

2018-10-16 14:00


Bitcoin Cash (BCH) Daily Price Forecast – October 10

  BCH/USD Medium-term Trend: Ranging Supply zones: $800, $900, $1000 Demand zones: $300, $200, $100 BCH still remains in consolidation in its medium-term outlook. $517.70 in the demand area was the low the cryptocurrency attained as the bearish pressure within the range continues before the end of yesterday session. The 4-hour opening candle at $520.50 […]

2018-10-10 21:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Drops Below $100,000: The End Or Beginning Of The Crypto Bull Market?

Bitcoin, the titan of the cryptocurrency world with a market cap hovering around $1. 9 trillion, has experienced a significant downturn, dipping below the psychological threshold of $100,000. This flash dump, occurring over just three days, has left many investors and analysts questioning whether this marks the end of the current bull market or signals a healthy correction within an ongoing bullish trend.

ASIC Targets Binance Australia Over Landmark Case In Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.

UAE’s Bitcoin Holdings Soar To $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

UAE’s Bitcoin Holdings Soar to $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

ASIC Targets Binance Australia Over Groundbreaking Case in Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.