BCH Price Prediction 2020 | Will Bitcoin Cash Destroy ?
BCH price prediction 2020: Bitcoin cash is another famous cryptocurrency. Bitcoin price increased in previous year and hit its highest level $20,000 approximately. Now bitcoin current price is up to $6,500. So investors are no more interested in bitcoin due to high price of BTC. That’s why BCH is becoming more reliable source of investment. So today i will put light on BCH price prediction 2020 and much more about its future trend.
BCH price prediction 2020
It is very hard to predict price of any coin or currency without technical analysis ( chart analysis). I will apply different technical tools to find the future trend of BCH for 2020.
It seems BCH price prediction 2020 is very bearish. Recently BCH price broken a support level with a high volume. So it seems price will go down more in future. That strong volume is indicating investors are selling their BCH coins. So if that happens continuously then there are chances that BCH price may go down more.
Price is below the trend line and continuously following its pattern. Because price in below the trend line level that’s why it is possible BCH price go down more.
Overall structure is also Lower low and price is creating new lower low pattern which means still nowtrend is bearish and it is very hard for price to break its structure to go upward.
After that we analyzed BCH price using different technical indicators like RSI, MACD and Bollinger bands.
Result was approximately same. RSI was indicating price may go up little bit. RSI level is below 30. So price can make some correction toward up side, but trend could not change now.
Moreover MACD was indicating bearish trend started again and it will go more down. MACD levels was below 0 that’s why it was indication that price may go more down.
After that we analyzed bollinger bands and found that price is out side the lower portion of bands, and there are chances that price may go up little bit as RSI indicated too.But overall trend is towards down side.
Technical analysis and indicators are indicating that BCH price prediction is very low for future. But what is it actually ?
So answer is simple, BCH is coming down very fast, and pattern is overall down,it is very hard for BCH to break its pattern to go up. People are thinking bitcoin price will increase in future and all other coins will also. We also analyzed bitcoin price prediction 2060 and found bitcoin overall price prediction is high and price will increase in future. But in BCH case price will increase but it could hit its lowest level once before go up.
BCH Price Prediction 2020: $50 or less
BCH price prediction 2020 is very low, price could increase but it need a lot of time. BCH price prediction 2020 is up to $50 or less. Technical analysis and indicators are indicating that price can go more down in future. If bitcoin price increase in future then BCH price can increase, otherwise there are no any chance. BCH price will increase in future but it need some time.
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Disclaimer: We only provide future price predictions of Bitcoin/BCH for educational/informational purpose and, predictions could be wrong. So invest in any cryptocurrencies on your own risk and analyze/research coin’s price before investing in any coin.