Bitcoin Cash has been one of the most popular Bitcoin forks of all time. At a time when Bitcoin forks are getting increasingly common, Bitcoin Cash has shown the power of a well planned out fork. Bitcoin Cash hasn’t even been around for a year but the currency has become one of the biggest players in the market, being the fourth largest currency by market cap. Let us take a look at the recent performance of the currency, as well as expected trends over the next few days.
(BCH) Bitcoin Cash Price Over 24 Hours
Bitcoin Cash price over the past 24 hours has been on a rocky downtrend, falling by 3.65% over the day. The currency fell from $1279 to $1236 over the course of the day. The highest point of the day came at the $1288 mark – but that was when the resistance led to a correction and prices collapsed by over $50 to close the day at $1236.
(BCH) Bitcoin Cash Price Over 7 Days
Bitcoin Cash, over the past week, has actually managed to gain on the price despite this recent drop. The currency began the week at a price of $1207 – peaked at $1303 and continued to test the resistance at the $1275-$1300 mark. However, every time the currency touched these figures, there was a collapse – a trend that continues. The last correction was the strongest one as Bitcoin Cash fell to $1236 to close the week. The currency gained $1 Billion in market cap over the week.
(BCH) Bitcoin Cash Price Expectations
A look at the graph above indicates that Bitcoin Cash price has been trapped below a major line of resistance. This line of resistance is between the $1275 to $1300 marks – and any time the currency ties to escape the resistance, the market bulls end up bringing down the price and enforcing a market correction. A similar movement is expected over the next few weeks. While there won’t be a drastic rise, there won’t even be a drastic drop as there’s a strong support for Bitcoin Cash at the $1200 level.
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