Bitcoin Cash (BCH) Price Forecast: Potential 80% Surge or 40% Plunge?

Following its peak at $328 for the year, the Bitcoin Cash (BCH) price has experienced a decline. This decline led the price to dip below the significant horizontal resistance level of $280.

Timeline of Bitcoin-cash

Local authorities in the Indian state of Odisha took down a $120 million crypto Ponzi scheme on Tuesday. Local media revealed that the Economic Offences Wing (EOW) of the state police arrested two central figures behind the fraud that was operating pan-India.

After a bearish start to August 2023, Bitcoin Cash (BCH) price is finally flashing on-chain signals of a potential purple patch. With BCH short sellers suffering their highest liquidations since July 13, a market momentum swing could trigger another Bitcoin Cash price rally.

Cryptocurrencies are far beyond their original concept, having evolved into a way of creating vast ecosystems at the fingertips of the world. Bitcoin (BTC) was the first rung on the ladder, the stepping stone to this immense technology.

Between July 6 and July 25, Bitcoin Cash price declined 27% from $295 to $233 as BCH miners offloaded a huge chunk of their reserves. Over the past week, bullish whales have started buying again.

Bitcoin Cash [BCH] may have to cross a major hurdle for traders to see some winds. Dwindling selling pressure at the critical $248 price level could offer a chance for a bullish rebound.

Bitcoin Cash eased below $250 with bears looking to seize control from bulls. With short positions at a greater advantage at the time of writing, the question remains: are bulls out of fuel?

Bitcoin Cash (BCH) price continues to hit new lows in July since dropping from its recent 2023 high of $320 on June 30. Amid mounting losses, BCH investors are now looking to make one final push to avoid a prolonged bearish reversal.

A popular cryptocurrency analyst has voiced his optimism for two popular altcoins, Binance Coin ($BNB) and Bitcoin Cash ($BCH), suggesting both could see their prices surge further in the near future.

With 150% gains in June, Bitcoin (BCH) emerged as one of the biggest winners after the SEC listed several mega-cap altcoins as ‘securities'. However, Ripple's (XRP) recent victory against the SEC now threatens to put the Bitcoin Cash price rally at risk.

A widely followed crypto strategist is bullish on two popular altcoins amid relatively calm price action for the markets. Starting with Binance Coin (BNB), the pseudonymous analyst Kaleo tells his 593,300 Twitters followers that the native token of the Binance Smart Chain is a bargain at a price of below $250.