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#Bitcoin Cash Price Analysis

Bitcoin, Ethereum & Bitcoin Cash Price Analysis 7 July

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Bitcoin, Bitcoin cash, Ethereum Price Analysis

Fundstrat Global Advisors prime supporter Tom Lee keeps on being bullish on Bitcoin. He anticipates that Bitcoin will exchange generally at 2.5 times the mining cost, which as indicated by him will increment from the present levels of $7,000 to $9,000 continuously end. Lee has an objective of $20,000 and higher for Bitcoin before the finish of 2018.

We don’t agree with his objective levels from the specialized analysis perspective. $10,000 and $12,000 are probably going to be two prices indicates that will be troublesome cross for the bulls.

Be that as it may, if cryptocurrencies witness a surge of institutional contributing, at that point those obstruction levels will be effectively crossed. While the retail financial specialists are to a great extent remaining without end in dread of a further fall, the expert traders are utilizing the current downtrend as a chance to enter crypto exchanging.

Amsterdam-based speed dealer Flow Traders NV, one of the biggest securities traders in Europe, has entered the cryptocurrency market, as revealed July 5. The landing of such mammoths is a reasonable sign that the bigger players are dove in and these lower levels are probably not going to stay for long.

Things being what they are, what can the traders purchase now? We should discover.

 

BTC/USD (Bitcoin Price Analysis)

Despite the fact that Bitcoin is supporting over the 20-day EMA, it is discovering hard to break out of the overhead opposition at $6,953.38. When this level is crossed, there is no resistance until $7,750.

 

BTC/USD

We likewise find that the BTC/USD combine is shaping a reversed head and shoulders (H&S) design that will finish on a breakout and close above $6,953.38. This example has an objective of $7,996.11, which is near the opposition from the downtrend line.

Bitcoin Price Analysis 7 July

Bitcoin Price Analysis 7 July

The 20-day EMA has turned level, which demonstrates that the bears are losing energy. We may see a little plunge, which will frame the correct shoulder of the transformed H&S design. When we get this plunge, it will enable us to trail the stops higher and we will likewise have another stop misfortune position for any new buys.

Our bullish view will be nullified if the bears sink the cryptocurrency beneath $5,900. Consequently, if you don’t mind holding the stop misfortunes at the suggested levels for the long positions started at $6,650.

 

ETH/USD (Ethereum Price Analysis)

Ethereum price has been exchanging a tight range for as long as three days. The bulls have kept it above $450 while the bears have topped the upside at the 20-day EMA.

 

ETH/USD

In the event that the bulls break out of the intraday highs of July 3, a move to $550 and from there on to $600 ought to be on the cards. In this way, the traders can enter a long position at $500 and keep an underlying stop misfortune at $400, which can be in this manner raised to $450. In the event that the ETH/USD match battles to break out of $550, the stops can again be raised to breakeven to decrease the hazard.

Ethereum Price Analysis 7 July

Ethereum Price Analysis 7 July

Our bullish view will be refuted if the bears break and manage beneath $450. The computerized cash will turn negative on the off chance that it breaks beneath $400 levels. If it’s not too much trouble keep the position estimate around 40 percent of ordinary.

 

BCH/USD (Bitcoin Cash Price Analysis)

Bitcoin Cash Price did not trigger our purchase suggestion made in the past analysis. It turned down without breaking out of the intraday high came to on July 3.

 

BCH/USD

The bulls are right now endeavoring to hold the $736 level. On the off chance that fruitful, a break out above $838 should bring about a rally to $1,200 with a minor obstruction at $934. Thusly, we hold the purchase suggestion gave in the past analysis.

Bitcoin Cash Price Analysis 7 July

Bitcoin Cash Price Analysis 7 July

Our bullish view will be discredited if the bears sink the BCH/USD match underneath $736, which can bring about a tumble to $657.

#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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