Bitcoin Cash Price Analysis: To the moon we go

Bitcoin Cash (BCH) – the new currency on the market after the ‘Bitcoin Split’ is gaining ground, having gone up by 43%, to a current price of $420, and rising.

The current pricing for Bitcoin Cash can be checked at CoinMarketCap.

Bitcoin, it appears, is sustaining itself, with CoinMarketCap showing a price of $2733, a decrease of just 5.6% at the price of writing this piece.

The debate before the August 1 split period was focused heavily around whether Bitcoin will sustain itself or would Bitcoin Cash emerge as the new community focus once the dust settles. It is, however, far too early to call anything solid at this stage of the game.

Bitcoin Cash Graph
Look at Bitcoin Cash Current Trading Price

Bitcoin Cash Market seems to be extremely bullish now. A growth of 43% does seem to be an amazing opportunity, we should consider that this is the market sentiment with just 1 day of market trading going on, considering only the bigger exchanges. A market correction seems to be in order, but the real question would be where the price will hold. Within a period of 12 hours, the price dropped below $200. Trading volume for this period seemed to be quite low however.

The current trading volume seems to be on a 1-day high, and if I was to buy into Cash now, I would do so as soon as I get an opportunity to buy at around $380. With the trade volume being as it is, and hopefully to increase soon, we could potentially see a price hike to about $470-480, before settling at $450 for the time being.

Investing into any market is always based on speculation. Bitcoin Cash seems much more volatile, when compared to the mighty Bitcoin. Volatility is good for the occasional margin trader to make a nice little profit on the side.

If you haven’t already, you can look at Kraken or Bitfinex, which are currently active and trading in Bitcoin Cash.


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