We have noticed Bitcoin Cash making significant ground today. Whilst we can’t really work out where this progress is coming from just yet, it is pretty clear that Bitcoin Cash is racing ahead of the markets. This is of course catalysed by the overall positive market movements that we are seeing at the moment, overall though, Bitcoin Cash is flying above its neighbours.
At the time of writing, whilst Bitcoin, Ethereum and Ripple are all up 2.03%, 2.23% and 1.74% respectively, Bitcoin Cash is up 5.26%, coming in at a nice round value of $1,138.00. If this continues, we can expect to see Bitcoin Cash exceed $1,200.00 through this afternoon.
During the mid-April market surge, the last bull run that saw prices drive, Bitcoin Cash managed to surge up by almost 200% in the space of just one month. Of course, since then Bitcoin Cash has retreated somewhat, however given its current good form, we should consider how another surge of that capacity would affect Bitcoin Cash now, given its far higher value.
Let’s track back to April. At the start of the month, Bitcoin Cash came in at a value of around $606.59. Through the month and as a result of the mid-April market surge, we saw Bitcoin Cash move up and hit $1,818.63 by the start of May, increasing in value by over $1,000.00, and by just shy of 200%.
With speculation heating up surrounding the next bull run, and another market surge looming, we should consider how gains of a similar velocity will affect Bitcoin Cash this time round, considering that as it stands, its value is almost double the value that Bitcoin Cash started April at.
So, assuming another market surge does take hold soon enough, and assuming that when it does, Bitcoin Cash will sustain its current value, of around $1,138.00, a rise of 2005 (like last time) will see Bitcoin Cash reach $3,415.00. If this happens, Bitcoin Cash will finally be less than $1,000.00 shy of its current all time high of $4,091.70, as recorded on the 20th of December 2017.
Of course, there are two extraneous possibilities here. Firstly, Bitcoin Cash could even see a surge bigger than 200% across the month. Secondly, Bitcoin Cash may not see any such surge, nor will the markets, therefore, you should remember that these calculations are inspired by speculation.
Overall, whilst a surge is expected, it is something we can’t truly predict, therefore, if you are looking to invest, you should do adequate prior research first off, to ensure you know what you are doing. Be aware of the risks… as you can see here, currencies like Bitcoin Cash do have the potential to rise and encourage big returns, overall though, the markets are volatile and truthfully, the above isn’t really guaranteed to happen.
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