• Bitcoin Cash (BCH) is a form of cryptocurrency similar to Bitcoin.
• BCH price prediction for 2023 is $395.5 to $589 and might reach $600 soon.
• The Horizontal Channel Pattern suggests that the price of BCH might reach resistance levels of $311.6 and $1010.1.
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 are 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 for 2023
Bitcoin Cash (BCH) ranks 16th on CoinMarketCap in terms of its market capitalization. The overview of the BitcoinCash price prediction for 2023 suggests that it may reach resistance levels between$395-$589 or even higher at$600 soon if it follows its current trend pattern shown in the Horizontal Channel Pattern chart above..
Horizontal Channel Pattern Analysis
The Horizontal Channel Pattern shows that the upper trendline connecting highs and lower trendline connecting lows run horizontally parallel while containing price action within it . If this trend continues , then the price level might reach resistance levels between$311 – 1010 .
Conclusion
In conclusion , with accurate technical analysis indicators , our prediction suggests that there is potential for BCH prices reaching up to$600 by end 2023 . It’s important for investors and traders alike to keep an eye on market trends and patterns in order to make well informed decisions when investing or trading cryptocurrencies like bitcoin cash .