Bitcoin Cash Has Done it Before, So Perhaps This Time Round BCH Will Reach $2,160.00
Bitcoin Cash is experiencing a slight surge at the moment, naturally off the back of positive progression from Bitcoin too. At the time of writing, Bitcoin Cash is up 3.29% and doesnât look to be letting up either.
Because the headlines are pointing towards a looming bull run, we want to take a quick look at how such progression might impact Bitcoin Cash. Because Bitcoin is most likely to spike first, we can only assume that Bitcoin Cash will follow next as a result of its Bitcoin inheritance.
Before we begin, please note that this is not investment advice. As as Bitcoin Cash can surge, its price can drop too, therefore we canât actually guarantee that such a bull run will occur. Moreover, even if Bitcoin spikes, thereâs no way of knowing if Bitcoin Cash will really follow on too, therefore the following is speculative. Please use this to inform your wider research and moreover, if you decide to invest, do so wisely and trade safe.
So, historically, Bitcoin Cash has seen two major surges. The first occurred as a result of the cryptocurrency boom at the start of 2018 and the second, most recently, within the mid-April market surge. Both instances saw Bitcoin Cash make gains of over 100%, setting a great benchmark for the future price of Bitcoin Cash, should the markets take an upswing in the coming days and weeks.
During the first surge at the start of 2018, Bitcoin Cash rose from a value of $1,799.82 up to a value of $4,091.70, an all time high for Bitcoin Cash and a surge of 127%. Next, during the more recent surge in April, Bitcoin Cash jumped from a value of $606.59, up to $1,726.54, marking a surge of 184%.
With these two surges in mind we see an average price gain of just over 155%. Therefore, based on the current value of Bitcoin Cash, at $844.23, a 155% price surge will see Bitcoin Cash reach $2,160.00. Based on historical trajectories, this is not an unrealistic estimation and of course, is entirely possible.
We canât really determine when this might occur and of course, any surge in Bitcoin Cash might not take such a leap, this is based on an average and nothing more. Moreover though, do remember that the opposite could happen and actually, Bitcoin Cash could see a surge greater than 155%, whilst this is not a minimum price surge value, itâs also not a limit.
In essence, anything could happen. For now, continue to watch the markets and letâs see how this one progresses. Bitcoin Cash is in promising form and soon enough, it could be a big part of a changing landscape.