BCH Price Analysis August 2022

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BCH is a token of the platform Bitcoin Cash. Its current price is around $130.75 by the time of writing, with a low of $96.00, and it has a market cap of 2.5 billion dollars.

What is Bitcoin Cash?

Bitcoin Cash is designed to be a fast & efficient payment system that can be used anywhere. It’s designed to address the Bitcoin scaling problem and provide more everyday utility.

Bitcoin Cash is a cryptocurrency and was launched in Aug 2017 through a hard fork of the Bitcoin blockchain. Bitcoin Cash is a modified version of the original Bitcoin, with one key difference larger blocks. Increasing the block size can fit more transactions within a single block and process them more quickly.

What is BCH?

BCH is the coin of the Bitcoin Cash platform, which is around $130.75 by the time of writing, with a low of $96.00. It reached a high of $801.49, and its current ranking is #29, according to CoinMarketCap, with a market cap of 2.5 billion dollars.

BCH is an altcoin version that is based on the most popular cryptocurrency in the world, Bitcoin. It is characterized by a hard fork of Bitcoin, which has caused significant changes. One of these changes was the size of the coin, which on BCH was much bigger than before.

BCH Coin Market Analysis 

BCH has a total supply of 19,154,669 coins worth around $130.75 with a market volume of 383 million dollars, whereas the market capitalization is 2.5 billion dollars at writing. 

BCH Price Prediction

Within a few years, Bitcoin Cash has managed to rank as one of the highest in terms of market capitalization on CoinMarketCap. It holds the 29th spot for now. 

On the 1D timeframe, the price action of $BCH/USDT rises from the significant horizontal support zone. Currently, it is working below the horizontal resistance zone. We have to wait for a successful breakout.

On-demand analysis on $BCH or any other coin can join our Telegram channel anytime.

Bch Price Chart August 2022
BCH Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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