Bitcoin Cash Price Forecast: BCH Price Forecasts A Bullish Momentum

BCH Price Forecast A Bullish Run Upto $2000
  • BCH price attempts to crawl back after a dip of 45% seems a futile exercise while going back to lower levels
  • The stock to flow ratio for the BCH price is 48.9. Meanwhile, the technical indicators do not show any sign of a bullish move.

BCH Price Forecasts An Strong Uptrend

Bitcoin cash was launched as a hard fork for BTC to solve the scalability problems. BCH price forecast a gain of 143% since its inception and is currently running for more. The difficulty level of BCH is around the value of 187.93G with a profitability of $0.4031 with a hash rate of 1Thash/sec. BCH is highly correlated with BTC and expects to grow further up to $4734 by the end of this year or mid of next year.

BCH is currently ranked at 13, with a market capitalization of $10,956,071,327. The volume ($10,956,071,327) of the coin has seen an increase  of 77% in the 24-hour time frame.

What Does The S2F Model Tell About The BCH Price Forecast

- Advertisement -

The S2F model is used for essential commodities like gold and silver. It tells about how much time the commodity will take to dig up again if it suddenly vanishes. The S2F number for the gold is 60, and the BTC number is 51.2 after the halving. If we adjust the network’s correlation factor and difficulty level, we find that BCH S2F ratio would be 38. If we use the same formula as per the BTC with some twitch in the case of BCH, then one can find that it has potential for $4700.The exact date for it would be difficult to predict, but it can be said that the price can achieve these within a span of 1 to 2 years.

Technical Indicators Hints A Dip In BCH Price Forecast

The weekly technical chart for BCH showcases a consolidated momentum. On coming to the daily chart, the BCH price is not showing any sign of positive recovery. Bitcoin cash price is trading below 50 and above 100 Moving Average. The 50 MA price is at $550.1, making it a temporary resistance for the coin. The coin’s resistance on the upside will be at the value of $580, and on the downside, it will see a bounce back from $500.

RSI(Bearish): It is currently trailing at 46.6, showcasing its presence in the Neutral zone. There is a negative slope in the RSI, which hints at the bearish momentum. If it crosses above the threshold of 60, then a strong bullish rally can be seen.

Conclusion

BCH price forecasts a strong uptrend. Moreover, BCH price can reach up to $2500 up until the end of this bull season. BCH/BTC pair can also see a strong uptrend. An Investor should do their due diligence before investing.

Technical Levels

Major Support: $500

Major Resistance: $580 

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service

Partners

cryptoheroes

RocketFuel