Bitcoin Cash Price Prediction: BCH Pumps 7%, but Can This New Bitcoin Derivative ICO Duplicate BTC’s 1,085% Pump in 5 Years?

adminJanuary 13, 2024

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Bitcoin Cash price has traded up 7% in the last 24 hours. $282.9 As of 9:44 AM EST.

BCH’s growth may have been helped by the conversion of the Grayscale Bitcoin Trust to a spot Bitcoin ETF on January 11. Originally, the fund was a major holder of Bitcoin Cash.

‘Grayscale Concept Coin’ generally refers to the cryptocurrency invested by Grayscale Investments.
The value of these tokens has generally increased as a result of GBTC’s successful conversion to a spot ETF.
among them, $LPT, $ZENand $BCH Everyone watched it 24 hours a day… pic.twitter.com/wYRbmjEoux
— SoSoValueCrypto (@SoSoValueCrypto) January 12, 2024

Bitcoin Cash Price Prediction

Looking at the 1-hour BCH/USD chart, Bitcoin Cash price may be heading towards a correction. The Awesome Oscillator (AO) is retracing its midline with a red histogram suggesting a solid bearish trend for Bitcoin Cash.

The Average Directional Index (ADX), also used to measure trend, is moving south. This means pressure on the price of Bitcoin Cash. The Relative Strength Index indicator is also recently on a south overbought trajectory, suggesting selling pressure for the token.

1-hour BCH/USD chart | Source: TradingView

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