Bitcoin Cash Price Touched $206; Will It Decline Further?
Bitcoin Cash (BCH) price is trying hard to stay away from the bear pressure for the past few days. The past 3-month price trend shows the coin marked steady upward momentum till February and then going on a downslide thereafter but picking up momentum marginally near the end of the said time period.
Bitcoin Cash Analysis
BCH coin price has exhibited massive volatility over the past 3-month period as the bears got stronger during the latter stages of the period. The price of Bitcoin Cash started from a low note at $192.07 on January 03. It slowly started moving up and reached a high of $397.65 on January 18, showing a huge jump of 105.13%. Then, there was a downside correction observed in the price on January 24, and the coin touched $309.02.
After hitting $309, Bitcoin Cash price recovered and marked a 21.60% escalation. On February 15, the coin was spotted at a high of $485, and then, it started trading downwards at a tremendous speed. Due to a continual declining trend, on March 12, the coin was spotted at a low of $162. Still, the BCH coin managed to recover.
Yesterday, the coin reached a high of $230.45, showing a massive jump of 41.52% value. Today, at the time of writing this analysis, the price of Bitcoin Cash has gone down slightly to $206.61, which indicates that the currency is giving a tough fight to the ward off the bearish pressure at regular intervals.
BCH price has been on a slow and stable upward momentum even though the bear pressure has got the better of it at most times, as seen from the 3-month price movements. Analysts expect the currency to show better stability during the coming months.