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#Bitcoin Cash Price Analysis

Bitcoin Cash Price Analysis: BCH/USD Recovering Slowly, 10 August.

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Bitcoin cash price declined beneath the $540 key support against the US Dollar. BCH/USD may maybe keep on moving down towards the $520 and $510 levels.

Bitcoin Cash Price Key Focuses

  • BCH price endeavored a recuperation over the $600 level against the US Dollar.
  • There is a transient climbing channel shaped with support at $590 on the hourly diagram of the BCH/USD combine (information feed from Kraken).
  • The combine could move higher in the event that it holds the $590 support and breaks the $620 resistance.

BCH price is combining with little recuperations against the US Dollar. BCH/USD must break the $620 resistance to recuperate towards $650.

BCH Price Support

In the wake of exchanging as low as $656, BCH price began a minor upside move above $570 against the US Dollar. The BCH/USD match figured out how to move over the $580 and $600 resistance levels. It additionally prevailing with regards to breaking the 23.6% Lie retracement level of the last real drop from the $710 high to $565 low. Be that as it may, the upside move confronted a solid resistance close to the $620 level.

BCH price is right now moving lower and is exchanging underneath the $600 level. It additionally broke the 23.6% Lie retracement level of the ongoing wave from the $565 low to $620 high. On the drawback, there is a better than average support framed close to the $585-590 zone. In addition, there is a transient climbing channel shaped with support at $590 on the hourly diagram of the BCH/USD combine. The match stays supported on plunges close to the $590, underneath which, merchants could pick up control. The last low at $565 must hold decays if the price broadens decreases. If not, the following stop for venders could be close to the $550 level.

BCHUSD Price Chart 10 August

BCHUSD Price Chart 10 August

Taking a gander at the graph, BCH price is giving a couple of positive hints above $590. In any case, a legitimate hourly close over the $620 resistance is required for more picks up. The following resistance above $620 is situated close to the $650 level.

Taking a gander at the specialized pointers:

Hourly MACD – The MACD for BCH/USD is gradually moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is plunging underneath the 50 level.

Major Support Level – $590

Major Resistance Level – $620

#Bitcoin Cash Price Analysis

Bitcoin Cash falling to 0? Is BCH worthless?

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Today, Bitcoin Cash price fell below Ethereum and this is for the very first time that BCH has fallen below ETH since its inception.

Bitcoin Cash has been falling sharply since the hard fork happened last month which led to the generation of Bitcoin Satoshi Vision. Today, Bitcoin Cash price fell below Ethereum and this is for the very first time that BCH has fallen below ETH since its inception.


Bitcoin Cash is currently trading around $79 while ETH trades around $84 according to CoinGecko (at the time of writing).
Along with the price, the total market capitalization of Bitcoin Cash has also fallen bringing down BCH on the 7th position in cryptocurrencies according to CoinMarketCap.

 

Is it the end for BCH?

Bitcoin Cash team has been continuously trying to attack the real bitcoin from the day of its inception. The team has been trying to bring Bitcoin Cash to mainstream adoption but it doesn’t seem that they have been successful in that. Unlike Bitcoin which truly has a good amount of adoption rate by merchants throughout the world, Bitcoin Cash does not have much of an adoption. Besides that, the daily transactions of BCH are nearly 1/10th of Bitcoin.

Bitcoin Cash Price Analysis

Technical Indicators:

Support Level: $75

Resistance Level: $84

BCHUSD 2 day chart

BCHUSD 2 day chart

In the 2 day chart, Bitcoin Cash was trading at around $96 yesterday and crashed down to around $78 today where it is currently being traded. The main support level of BCH lies around $75 and the resistance level is around $83. BCH is currently trying to recover back from the recent crash but the selling pressure however is quite high which may push the price downwards and Bitcoin Cash could even fall below $70 in short term. However, market analysts are predicting that the price of BCH is likely to fall below $50 before the end of the year.

The following article is not a financial advice. Readers are advised to do their own research and analysis before making any investment decisions in the cryptocurrency market. 

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#Bitcoin

Roger Ver & Bitmain face lawsuit for allegedly hijacking Bitcoin Cash Network

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Roger Ver and Bitmain along with others have been alleged to take control of the Bitcoin Cash network for personal gains.

After the deadly hash-wars between Bitcoin Cash ABC and Bitcoin Cash SV teams, which eventually led to the entire cryptocurrency market downfall, Roger Ver and Bitmain along with others have been alleged to take control of the Bitcoin Cash network for personal gains.

United American Cord issues a statement saying:

“What is alleged to have been a well-planned scheme to take control of the Bitcoin Cash network for personal gain and which caused a global capitalization meltdown of the Bitcoin Cash network at the expense of others”

 

The lawsuit against Roger Ver, Bitcoin.com & Bitmain and others

The lawsuit is against Roger Ver, Bitcoin.com, Bitmain and Kraken and seeks damages and injunctive relief for the victims. The lawsuit alleges that:

“in unfair methods of competition and through a series of unconscionable, deceptive and unfair practices, manipulated the Bitcoin Cash network for their benefit and to the detriment of UnitedCorp and other Bitcoin Cash stakeholders”.

 

Bitcoin Cash ABC planted a “poison pill” during the hard fork

It is furthermore alleged that after the hard fork of Bitcoin Cash, on 20th November, 2018, the Bitcoin ABC team planted a “poison pill” into the blockchain code in order to remain in control of the network at all times. This also makes Bitcoin ABC a centralized blockchain.

The full statement by American Cork can be found here.

 

At the time of writing this article, Bitcoin ABC is trading at $102.00 while Bitcoin SV is trading at $106.47


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#Bitcoin Cash Price Analysis

Bitcoin Cash ABC Price Analysis: BCHABC going down to $100?

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Bitcoin Cash ABC price fell below the $150 support level due to the selling pressure and may now test the next support at $120.

Support Levels: $140, $130, $120

Resistance Level: $145

 

Key Points

  • As of yesterday’s predictions, Bitcoin Cash ABC price broke the key support at $150 and went below this range.
  • A new resistance at $145 is creating a bearish trend line on the 1-hour chart.
  • BCHABC will likely fall below $140 if the selling pressure keeps increasing.

Bitcoin Cash ABC price fell below the $150 support level due to the selling pressure and may now test the next support at $120.

 

Bitcoin Cash ABC Price Analysis

As of yesterday’s predictions, Bitcoin Cash ABC price broke $150 support level and is trading below $145 with a resistance set around $145 and $150. BCHABC is currently trading at a yearly low of $142 (at the time of publishing) according to CoinGecko Charts and may extend losses below $130 to test the next support level of $120.


 

The daily charts of BCHABC predict that BCHABC price is currently under massive selling pressure. The price will fall further breaking the small support levels at $140 and $130 to test the major support at $120.

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