Bitcoin Cash has enjoyed a fruitful beginning to the year with a stunning 160% rise from a low of $170 more than two years ago.
At the time of writing it was testing the $450 level of resistance ahead of a potential move towards $517 as Bitcoin begins to stabilise around $10,000.
From a technical perspective, the 50 exponential moving average has shown serious strength with a cross above the 200 EMA and 200 MA.
With the long-awaited golden cross – the first since May 2019 – coming into fruition, Bitcoin Cash now looks set to embark on an unbelievable bull run with upside targets crossing the $1,000 mark.
However, it needs to continue trading above $420 in order to maintain a level of reliable support, which will likely be tested if Bitcoin fails to breach the $10,000 level with conviction.
Much of Bitcoin Cash’s upcoming trajectory will also depend on the direction of Bitcoin leading up to May’s halving event, which has historically been bullish for cryptocurrencies.
The two previous halvings in 2012 and 2016 preceded a series of bull markets that saw Bitcoin eventually eclipse its previous all-time high.
The theory is that as rewards for miners will be slashed, the supply will dry up, leading to a surge in demand as the price begins to rise.
If Bitcoin begins to embark on its own halving-inspired bull market, altcoins like Ethereum, Litecoin and Bitcoin Cash will all also see a significant hike in price.
Pricing
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.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.