At the time of writing, the entire cryptocurrency market has been experiencing the best pump of 2019.
For four consecutive days, the market has been experiencing 24-hour gains of around 5-10%. Bitcoin Cash (BCH) is no exception, and price is currently sitting around $393 – almost 20% higher than last week.
Bitcoin is still gaining market-share dominance over most coins, including BCH, and BCH price is currently trading at its lowest against BTC since late 2018. However, this doesn’t mean investors won’t take this opportunity to convert BTC into BCH.
Looking at the chart above, we can clearly see price has broken important resistance barriers.
Bitcoin Cash has broken the $330 level around its 200-day EMA (the blue line) and the 20-day EMA has finally crossed the 50-day EMA (the red and green lines respectively). Moreover, the trend seems to be quite bullish: volumes speak for themselves, and the market hasn’t seen such positive volumes coming in since early April.
What I expect to happen is altcoins such as BCH will rise both against BTC (even though prices may drop) and USD.
If order books stay on the side of buyers, which will become increasingly difficult the more price goes up, we could see BCH climbing again to $400 and above in just a few days.
My personal bet is that we’ll soon have a nice correction and another buying opportunity. I’ll have some fresh cash available to make new entries in the market as soon as it dips.
Still, be aware we may still experience close to 60% drops, as this did happen in a similar situation during 2015 prior to the last massive bull run.
Fundamentals remain strong
https://youtu.be/9i6rJF6q_VI
I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver, and discussed the most recent developments on the horizon for BCH. You can find all the details here, but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party.
I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem.
Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents:
US Dollar – BCHtoUSD
British Pound Sterling – BCHtoGBP
Japanese Yen – BCHtoJPY
Euro – BCHtoEUR
Australian Dollar – BCHtoAUD
Russian Rouble – BCHtoRUB
Bitcoin – BCHtoBTC
About Bitcoin Cash
Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017.
More Bitcoin Cash news and information
If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.