Bitcoin Cash Price Prediction: BCH Hits An Intraday High – A Renewed Interest in Peer-To-Peer Cash?

Join Our Telegram channel to stay up to date on breaking news coverage

After dropping below $195 since Sept. 5 and reaching a low of $180, the Bitcoin Cash price finally began recovering.

The rally saw the BCH price hit a high of $225 before dropping sharply toward $200. What followed was a steady recovery that has seen the altcoin climbing to today’s intraday high of around $215, its primary resistance preventing it from going up to $230.

At the time of writing, Bitcoin Cash is trading at $212, up 3% on the day. BCH’s trading activity has increased significantly over the last 24 hours, rising by 40% to $170 million, according to data from CoinMarketCap.

Source: CoinMarketCap

On the longer timeframe, Bitcoin Cash remains bullish after rising 12% and 73% over the last 30 days and six months respectively. It is also up 120% in 2023 and 88% over the last 12 months.

According to crypto price tracker CoinPedia, BCH appears ready to break out. The firm posted the following chart on X saying that the altcoin would move to $300 once it breaks the barrier at $228.

🔥 BCH Coin Update!

💥 $BCH is on the move with a 1.11% intraday growth! 🚀
🎯 Targeting the $228 ceiling and beyond to $300!
👀 Don't miss out on this week's potential bull run!#Bitcoincash pic.twitter.com/YGn0OCWcRT

— Coinpedia Markets (@MarketCoinpedia) September 26, 2023

Let’s delve into Bitcoin Cash’s price analysis and find out how this is possible.

Bitcoin Cash is on the Move as Bulls Eye $300

At the time of writing, the BCH price was trading in a second bullish session on the daily timeframe. As it hovered around $212, it faced immediate resistance from the 100-day Simple Moving Average (SMA) at $222 and the $225 psychological level.

Breaching these barriers would see BCH rise to collect the supply-side liquidity above this level toward $250. In highly ambitious cases, the Bitcoin Cash bulls may push the price higher toward the $300 psychological level. Such a move would bring the total gains to 33.36%.

BCH/USD Daily Chart

Bitcoin Cash Price Chart - September 26 — TradingView Chart: BCH/USD

Supporting this positive outlook was the upward trajectory taken by the Relative Strength Index (RSI). The price strength at 55 was 11% above yesterday’s value at 48, suggesting a significant increase in upward momentum over the last 24 hours. Note that BCH’s recovery will gain momentum once the RSI crosses the 70 line into the overbought region.

In addition, the Supertrend indicator’s position below the token affirmed the buyers’ grip over the price. This index, like the moving averages, overlays the chart while tracking BCH’s trend. It incorporates the average true range (ATR) in its calculations, which helps gauge market volatility. As long as the index is green and stays below the price, buyers are likely to remain in an advantageous position.

On the other hand, things may go awry for Bitcoin Cash price if it turns down from the current levels to produce a daily candlestick close below the 50-day SMa at $205. This would see the altcoin drop to seek solace from the $200 psychological level. If this doesn’t hold, the bulls may retreat toward $195 or to the SuperTrend’s green line at $183.

The price could trade here for a while in a sideways movement. This would give the bulls time to regroup and buy more at a discount before making another attempt at recovery.

If Bitcoin Cash scales higher toward $300, it could give investors who buy at the current prices a 33% return on investment. Unfortunately, there is no telling when this is going to actually happen as the volatility in the market remains extremely low.

Investors could, therefore, turn to a new crypto in presale with the potential to make handsome returns on investment once they are listed on exchanges. Actually, Bitcoin BSC offers the same opportunity that Bitcoin provided investors in April 2011 when it was available for just less than a dollar!

BCH Alternatives

Bitcoin BSC (BTCBSC) is a stake-to-earn cryptocurrency project built on the BNB Smart Chain. Designed to give investors a greener alternative to Bitcoin, Bitcoin BSC ($BTCBSC) comes with similar tokenomics and aims to achieve a similar type of growth as the world’s pioneer crypto.

The project’s native coin $BTCBSC is in presale and is auctioning at the same price Bitcoin was going for in 2011, at $0.99. Unique to this token is its integrated staking feature, allowing users to generate passive income through additional tokens.

Even though $BTCBSC has similar tokenomics to the original Bitcoin, it contrasts the big crypto’s energy-extensive Proof of Work (PoW) consensus mechanism, through its effortless staking with a single post-purchase click.

Exploring the benefit of #BitcoinBSC on the BNB Smart Chain! 🌐

Built on #Ethereum's secure code, it offers robust security and smart contract capabilities, making it a game-changer for the #CryptoCommunity. 🔒 #BNBSmartChain pic.twitter.com/eulGIV9x89

— Bitcoinbsc (@Bitcoinbsctoken) September 25, 2023

Staking rewards, modeled after Bitcoin’s 2011 figures, are dispensed every 10 minutes, in line with Bitcoin’s block confirmation, and are subject to a halving every four years. This ensures a gradual release over 120 years until all 21 million $BTCBSC tokens are in circulation.

The team behind BTCBSC has already raised more than $5.4 million in the presale.

Witness the achievement of #BitcoinBSC! 🚀

We've raised over $5.4 million! 💰 pic.twitter.com/C8ZPfLI4Xx

— Bitcoinbsc (@Bitcoinbsctoken) September 26, 2023

Those interested in the presale can follow the steps below to buy BTCBSC and take advantage of becoming an early mover:

Visit the official website – Go to the official website – bitcoinbsc.io – and read the official whitepaper to learn about this token’s fundamentals.
Connect your wallet – Click on the connect wallet button. Make sure that you have ETH, USDT, or BNB in your crypto wallet.
Buy Bitcoin BSC – Swap your ETH, USDT, or BNB for BTCBSC once your wallet is connected. Come back to the website once the presale concludes to claim your tokens.