Bitcoin Cash (BCH) Price Prediction: Will BCH Hit $150 Soon?

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Bitcoin Cash is among the losing coins today, with a fall of more than 2% in 24 hours price. But it has posted a 6.1% gain in the past seven days.

Today, the overall cryptocurrency market is down, with many crypto asset prices in a bearish zone over the last 24 hours. Even the two main cryptocurrencies, Ethereum and Bitcoin, have lost a few percentages of their price from the previous day. However, at press time, most coins are posting hourly gains.

Source: CoinMarketCap.com

Rising 6.1% in 7 days in price, Bitcoin Cash (BCH) is outperforming the global cryptocurrency market, which has fallen by 2.00% in the past seven days. BCH is also outperforming similar cryptocurrencies, which have not registered any significant changes in the last 24 hours.

The following Bitcoin Cash technical analysis and price trend could suggest possible BCH price actions to expect in the coming weeks.

Historical Bitcoin Cash Price Action

On August 2, 2017, Bitcoin Cash was trading at $398.84 and then rose to almost $700 in the same month. It traded at an all-time high price of $3,785.82 in December 2017 before correcting its current price. The coin has experienced its share of volatility and price devaluation since it entered the crypto market.

On January 1, BCH was trading at $96.60 but broke above $100 after a few price hikes. Despite the recent downturn, the coin has not corrected below $100. BCH is trading at $136.99, according to data from CoinGecko.

Bitcoin Cash is 77.84% higher than its all-time low of $76.93 recorded on December 16, 2018 and 96.39% lower than its all-time high.

Bitcoin Cash in 2023 has enjoyed positive price momentum. It started the year at $96.96 on January 1 and traded at $136.29 on February 1, with some slight fluctuations in this period.

Bitcoin Cash Technical Analysis

Bitcoin Cash (BCH) Price Prediction: Will BCH Hit $150 Soon? — Source: Tradingview.com

BCH has traded in the red for three consecutive days on the daily charts. He rallied from February 13-21 before entering a downtrend. The Relative Strength Index (RSI) reflects neutrality at 54.08. Likewise, the RSI indicator points downward, reflecting the downward pressure on the asset.

BCH Moving Average Convergence/Divergence (MACD) it is above its signal line, but shows a weak bullish signal as it moves lower. It could probably go below its signal line soon if the bears persist.

However, Bitcoin Cash is trading above its Simple Moving Averages (SMA). The 50-day SMA crossed the 200-day SMA, forming a golden cross earlier on the daily charts, but the bears reversed the price gains. The SMAs are giving off bullish signals, with the 50-day SMA pointing up and indicating a short-term price rally.

BCH support levels are $131.01, $134.41, and $136.69; resistance levels are $142.37, $145.77, and $148.05. It is currently trading at $136.65, below the $136.69 level. The coin is likely to turn down to the support of $134.41 in the coming days before it picks up again based on past price action. However, it could reach the $150 price level in the second half of 2023 if it sustains its price gains.

Long Term BCH Price Prediction

BCH Price Prediction 2023

Bitcoin Cash has also benefited from the general crypto market revival in 2023. As a result, the asset is likely to see a significant rise in the second half of 2023 to trade at $204.49. However, a gradual rather than sudden increase is likely as you slowly consolidate your gains.

Also, some market pullbacks may occur, taking it to a low of $163.50 and an average of $190.01. This price increase will be the result of increased mainstream adoption and partnerships with reputable organizations.

BCH Price Prediction 2025

As long as there is no bear market in 2025, Bitcoin Cash will continue to rise in value. If the bullish cycle persists, it could go as high as $478.02, which is well below its all-time high. However, if there is a decline, it could remain in the $150-$250 price range.

BCH is likely to trade at an average of $435.40 in 2025 and a low of $399.15 in 2025. However, external factors such as inflation could change the value of these figures.

Please note that cryptocurrencies are volatile and carry significant risks for investors and traders. Therefore, proper risk management techniques and sound technical analysis are essential to get the best results.

What is Bitcoin Cash (BCH)?

Bitcoin Cash emerged as a fork of Bitcoin when the chain split in two in November 2018. A disagreement between some Bitcoin developer groups, who were displeased with Bitcoin’s overall scalability, gave birth to BCH. Although Bitcoin Cash is a fork of Bitcoin, both networks are not interoperable.

Bitcoin Cash is faster and more profitable than the old Bitcoin network. It is a peer-to-peer digital cash system committed to creating more efficient transactions. It is also decentralized and is considered one of the best alternatives to Bitcoin.

Bitcoin Cash had a block size of 32 MB as of October 2021, more significant than Bitcoin’s block size of 1 MB. BCH has enjoyed increased user adoption due to its utility and innovation. In addition, the low cost of transactions makes it an efficient and faster option than traditional payment channels.

It uses the proof-of-work mechanism and the network is protected by miners who validate transactions on the blockchain. BCH has its maximum token supply capped at 21 million BCH.

Mining BCH is highly competitive and requires advanced computing power to solve complex crypto puzzles on the network. Individuals can mine BCH, however mining pools are more profitable and generally have the advantage of solving puzzles faster due to superior computing power.

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