Is It Too Late to Buy Bitcoin Cash? BCH Price Shoots Up 13% and AI Crypto Predictions Platform yPredict Just Hit 2.8 Million
Bitcoin Cash (BCH) is a little higher on Friday at current levels just above $280, having managed to recover more than 13% from earlier weekly lows around $250.
However, in the grand scheme of things, the recovery isn’t much to get excited about as BCH remains well within its $250-$330ish ranges of the last week.
Indeed, the BCH bulls have been taking a breather over the past seven days after a huge 3x pump in the second half of June from lows under $100 per token.
News that BCH will be one of the few cryptocurrencies listed on by crypto exchange EDX Markets was attributed as the catalyst for June’s big price spike.
EDX Markets, which is backed by a number of major financial institutions like Fidelity, Charles Schwab and Citadel, recently launched and observers think that the exchange will be looked on more favorably by regulators than its competitors like Coinbase.
Bitcoin Cash was created back in August 2017 as a result of a hard fork from the original Bitcoin blockchain.
Its creators launched the new blockchain to address the limitations of bitcoin such as problems relating to its scalability and transaction speed.
Bitcoin Cash’s strong recent performance since mid-June means that it is the best-performing cryptocurrency in the top 100 by market capitalization over the past thirty days, up over 150% as per CoinGecko.
Bulls have marked out the key long-term support-turned-resistance level around $385 as a key near-term price target.
The strong rally over the past few weeks has some crypto investors concerned that they might have missed their chance to buy BCH on the cheap.
Is it too late to buy Bitcoin Cash, they might now be asking.
Well, while the cryptocurrency’s strong breakout from the $90-$160ish range it was stuck within
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