Bitcoin Cash Price Analysis: Bitcoin Cash Falls Below $1000 Twice in One Week 

bitcoin cash bch upgrade hard fork 32mb block size may 15 upgrade

The cryptoverse is full of negative vibe as the price of major cryptocurrencies in including Bitcoin continue to struggle on the downward slope. There is no positive momentum from the bulls and the bears seem to be in charge of the market. Bitcoin Cash, is one of the top losers in the market currently struggling to stay above a significant resistant level but setting new lows on a daily basis.

For the second time this week, Bitcoin Cash dipped below $1000. This possess questions about future long term projects on the Bitcoin Cash blockchain.

The Struggles Are Real for Cryptocurrencies

The struggles facing Bitcoin Cash is real. Anyone who has followed up with the price chart this week will acknowledge that the trend is negative. This is rather disappointing considering the steady price level Bitcoin Cash maintained initially. Bitcoin Cash fell from $1200 to $980 a few days ago.

SEE ALSO:   Cardano Price Prediction 2018: Will Cardano (ADA), Perform Well This 2018? (ADA News Today)

Some industry analysts speculated that the price was falling because the investors were not yet convinced about the sustainability of the cryptocurrency. However, the truth is that Bitcoin Cash isn’t the only cryptocurrency falling in price. Almost all cryptocurrencies are facing a challenge at this time so Bitcoin Cash isn’t alone in the struggle.

The only hope is for Bitcoin to pick up in value and stop this decline. If Bitcoin’s price increases, the price of other cryptocurrencies that are currently being affected by it will increase.

Within the last 24 hours, Bitcoin Cash has experienced a 4.08% decline. However, the BHC/BTC pair has only declined by 0.92%. This confirms that the value of Bitcoin Cash would have been stable if Bitcoin wasn’t manipulated. It shows the link between Bitcoin and all other cryptocurrencies including Bitcoin Cash.

SEE ALSO:   Bitcoin Price Forecast Today: Can Bitcoin Hit $700,000 -Fri Jun 22

No one knows if Bitcoin Cash can regain control above $1000. While this may be possible, it still depends on the future of Bitcoin. Bitcoin’s price is going lower and lower and this is affecting other coins.

 

 

 

loading...

Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   Bitcoin bubble or boost: $30,000 - Bitcoin price prediction 2018 from a financial analyst (BTC Forecast News)-Fri Jun 22

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!


Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!