The subject of our current analysis is Bitcoin Cash (BCH), a fork of Bitcoin that focuses on faster transactions and lower transaction fees.
We examine the BCH price prediction with insights from our Discord community, where regular updates and live streams are shared.
Technical analysis Bitcoin Cash (BCH)
Bitcoin Cash has also fallen sharply recently and our analysts believe that this decline is not over yet. They recently shared the following in the Discord section:
“We maintain our short-term bearish outlook for BCH. We have seen a completed first wave and now appear to be in a bearish second wave.
We expect the price to ultimately settle in the zone between 100% and 123.6% Fibonacci levels, which corresponds to a price between $233 and $297. From this zone we expect a trend reversal.
We still see a lot of potential in the longer term. If we can create a solid base within this blue zone, we expect a significant increase that could even reach $750, meaning a possible increase of around 180%.
So while caution is warranted in the short term, we remain optimistic about the long-term outlook.”
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. These therefore serve exclusively educational purposes.