Bitcoin Cash – which was once the ‘new kid in the block’ came into existence in mid-2017 and has since been on quite a roll. The most successful Bitcoin fork by far, Bitcoin Cash enjoyed an unprecedented growth over the past three months. However it looks like those days are now behind the currency as a major drop in the prices is expected. Bitcoin Cash prices are expected to collapse soon – and reach a low of as less as $200.
This is being anticipated by market experts at tradingview who feel that a market correction is soon going to affect the prices. As of this writing, Bitcoin Cash (BCH) is priced in at $1733 and has grown by 10% over the past few hours. However, this is one final, minor growth rally that the coin is experiencing before it meets with a market correction. Take a look at the graph below for a detailed understanding:
If these market experts are to be trusted, the currency is going to experience one final price rise before a major collapse. The light blue line in the graph above is indicative of the fall that Bitcoin Cash is likely to experience over the next ten days. The currency is expected to rise to levels of approximately $2185 before the fall begins.
This fall will continue for over a week where gradually, the prices will fall down to $200. This $200 mark is a significant number because this is a line of strong support where the currency was back in November before the growth rally began. If you happen to be trading or investing in Bitcoin Cash – we strongly recommend you to set your stop-losses as this will be a huge fall!
For more (BCH) Bitcoin Cash price updates and news stay tuned to Coinlus.com or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.