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Bitcoin Cash was created after a fork in Bitcoin. Ever since then it has increased in value tremendously. This is the reason why many of investors are trying to figure out if indeed, it would rise once again or whether the price of Bitcoin cash would languish around these levels for a long period of time.
The Bitcoin Cash (BCH/USD) price is seen up over 26% on friday.
Bitcoin Cash has reached close to the upper end of the range at $1,600, which should act as a stiff resistance. If the price fails to break out of this level, the range-bound action between $1,400 and $1,600 will continue.
The BCH/USD pair will become positive if the bulls break out and close (UTC) above $1,600. The immediate target objective is a move to $2,000; above it, the rally can extend to $2,400 levels.
Aggressive traders can buy on a close (UTC) above $1,600 and keep a close stop loss of $1,400. Due to numerous overhead resistances, we consider this as a risky trade, hence, keep the allocation size less than 50 percent of usual.
Bitcoin Cash price predictions 2018.
The current trading price of Bitcoin cash, you can check below at price ticter. The one-year forecast of Bitcoin cash that is approximately by the end of this calendar year is around $ 6700. Similarly, the five-year forecast of Bitcoin cash price is around $ 24,600.
Currently, it is very volatile as it is playing second fiddle to Bitcoin. In the future as well, while it might remain secondary to Bitcoin but the prospect of appreciation is pretty high. This is the reason why it might merit a look when it comes to investment.