Home / Bitcoin Price Predictions / BITCOIN CASH prediction | analysis ETCUSD October 24, 2017
BITCOIN CASH prediction | analysis ETCUSD October 24, 2017

BITCOIN CASH prediction | analysis ETCUSD October 24, 2017

BITCOIN CASH prediction  Bitcoin cash BCHUSD after failing to break the $350-355 Cryptocurrency resistance against the US Dollar moved down.

There is a short-term bearish trend line forming with resistance near $330 on the hourly chart of BCH/USD (data feed from Kraken).

The price might decline in the short term, but there are chances of it breaking the $330 resistance.

BITCOIN CASH prediction | analysis ETCUSD October 24, 2017

There were a few swing moves in Bitcoin cash Cryptocurrency, but it failed to settle above $350-355 against the US Dollar. The price started a downside move from the $356.7 swing high and moved below the 50% Fib retracement level of the last wave from the $310 low to $356 high. There was no close above the $350 level, which resulted in a sharp decline.

 

BITCOIN CASH prediction

The downside move was such that the price even failed to hold the $330 support. The mentioned $330 level would now act as a resistance. At present, the price is trading near the 76.4% Fib retracement level of the last wave from the $310 low to $356 high. There is a chance of a downside move towards $320-310 to fill buy orders before the price resumes its upside move. On the upside, there is a short-term bearish trend line forming with resistance near $330 on the hourly chart of BCH/USD.

Historical data for Bitcoin Cash

Currency in USD

  Sep 23, 2017 – Oct 23, 2017 

DateOpenHighLowCloseVolumeMarket Cap
Oct 22, 2017323.50355.52323.50331.66355,546,0005,405,020,000
Oct 21, 2017326.75328.45317.46323.36129,938,0005,458,980,000
Oct 20, 2017330.90332.98323.08327.44160,204,0005,527,860,000
Oct 19, 2017339.27339.27326.27330.81195,578,0005,667,070,000
Oct 18, 2017373.65376.18313.77339.17477,184,0006,240,990,000
Oct 17, 2017313.70394.96309.64371.731,008,160,0005,239,520,000
Oct 16, 2017315.26318.02310.52313.64117,797,0005,265,400,000
Oct 15, 2017322.42323.59307.68314.95133,385,0005,384,760,000
Oct 14, 2017321.54327.42317.35321.96164,137,0005,369,720,000
Oct 13, 2017314.15323.08304.38321.46288,210,0005,242,630,000
Oct 12, 2017315.47330.13310.71313.21262,066,0005,262,390,000
Oct 11, 2017320.20321.26312.13314.90131,577,0005,341,000,000
Oct 10, 2017313.22352.02311.70321.59367,809,0005,224,170,000
Oct 09, 2017342.76342.76289.04314.16288,075,0005,716,320,000
Oct 08, 2017360.09362.46337.00342.21203,754,0006,004,940,000
Oct 07, 2017363.60364.88356.06360.7891,004,0006,062,860,000
Oct 06, 2017355.44371.28354.96363.01182,031,0005,926,540,000
Oct 05, 2017358.42371.19348.45355.75268,341,0005,971,260,000
Oct 04, 2017404.20404.45354.55358.45251,584,0006,729,640,000
Oct 03, 2017421.79421.79395.74404.18130,247,0007,022,370,000
Oct 02, 2017415.87430.86411.84421.19219,590,0006,921,580,000
Oct 01, 2017433.38436.94415.15415.15164,290,0007,207,770,000
Sep 30, 2017436.64445.62432.53432.63150,565,0007,258,880,000
Sep 29, 2017447.66447.92426.99436.77148,725,0007,441,960,000
Sep 28, 2017456.71465.20433.50447.81300,421,0007,592,000,000
Sep 27, 2017441.86460.00439.41457.31197,885,0007,343,490,000
Sep 26, 2017445.36458.25441.83441.83165,303,0007,400,020,000
Sep 25, 2017419.65450.13419.65445.80302,272,0006,971,280,000
Sep 24, 2017428.80433.04419.25421.03114,527,0007,121,950,000
Sep 23, 2017415.31432.96407.45428.50189,127,0006,895,970,000

BITCOIN CASH prediction

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Cryptocurrency Benefits and Drawbacks

Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.

Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.

But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.


BITCOIN CASH prediction | analysis ETCUSD October 24, 2017

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