Vector Moranov | Dec 11, 2018 10:31AM ET
Bitcoin Cash recently caused a stir due to the hash-war between self-proclaimed Satoshi Nakamoto Craig Wright and Roger Ver, the owner of the domain Bitcoin.com. After the hard-fork on 15th November, there are two chains left for Bitcoin Cash: Bitcoin Cash ABC and Bitcoin SV. Without further ado, let’s have a look at both chains from a technical point of view.
BCH/BTC WEEKLY CHART
BCH/BTC DAILY CHART
BCH/BTC WEEKLY CHART
BCH/USD DAILY CHART
BCH/USD DAILY CHART
BCH/USD DAILY CHART
BTC-SV/BTC DAILY CHART
To summarize, the future for the Bitcoin rival doesn’t seem too bright, at least from a technical point of view. Considering BCH was worth $4044 on 21th of December in 2017 and now it’s valued at $95, the prospects for investors might be shocking. However, experts on the field like Dominik Zynis, co-founder & head of marketing and communication at Wings Foundation, commented on the situation:
“Bitcoin could see the $1000-2000 range in 2019; bitcoin cash SV could take away some of the community and hence money velocity that props up the value.
The bear trend for Bitcoin will most likely continue through 2019 and might show correlations with the general bear market in stock equity.
For Bitcoin to go up again it needs certain conditions: a lot more use and adoption, a major recession that causes some govt backed currencies to crumble, or some type of war which makes an international transfer of funds more difficult.”
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