Bitcoin Cash (BCH) Price Prediction: Will BCH Hit $600 in 2023?
• Bitcoin Cash (BCH) is a peer-to-peer electronic money system that aims to become a trusted global currency.
• Bitcoin Cash (BCH) price might reach up to $600 soon.
• Technical analysis indicators suggest that the BCH price prediction for 2023 is $395.5 to $589.
What is Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) is a peer-to-peer electronic money system that aims to become a trusted global currency with fast payments, micro-commissions, privacy, and high transaction capacity. Just as physical money, such as dollar bills, is transferred directly to the recipient, Bitcoin Cash payments are sent directly from person to person. Bitcoin Cash (BCH) is a form of cryptocurrency very similar to Bitcoin. In fact, Bitcoin Cash is a fork of Bitcoin due to the split of the chain where a certain group of Bitcoin developers is not satisfied with the general direction of Bitcoin’s scalability.
Bitcoin Cash (BCH) Current Market Status
Current Price: $244.89
24 – Hour Trading Volume: $416,852,666
24 – Hour Price Change: 4.73% Up
Circulating Supply: 19,452,788 BCH
All – Time High :$4355 .62 (Dec 20th , 2017 )
Bitcoin Cash (BCH) Price Prediction 2023
Bitcoin cash ranks 16th on CoinMarketCap in terms of its market capitalization . In this article we will analyze the price patterns by using accurate trader friendly technical analysis indicators and also predict future movement of crypto currency . The overview of bitcoin cash price prediction for 2023 can be explained below with daily time frame .
Horizontal Channel Pattern
In this pattern , upper trendline which connects highs and lower trendline which connects lows run horizontally parallel and price action is contained within it . If the pattern trend continues then BCH’s resistance levels might reach upto 311.6$ and 1010.1$ respectively . But if trend reverses then support level could be 164 .6$.
According to our analysis based on technical indicators , bitcoin cash has good potential growth in upcoming year if proper strategies are followed by investors or traders who wish to invest in cryptocurrency markets .It would be wise for traders and investors alike keep track of all important news developments related with bitcoin cash so they can make informed decisions when trading or investing in digital assets space