Bitcoin Cash (BCH) is experiencing a slight decline this Sunday, around $274having managed to recover more than 30% in the last 14 days.
However, overall this recovery is not exciting enough as BCH remains well within its price range of $250 to $321 since the beginning of the month.
Indeed, BCH bulls have paused for the past seven days, after surging almost 3x in the second half of June, from levels below $100 per token.
The news that BCH will be one of the few cryptocurrencies listed by the cryptocurrency exchange EDX Markets has been attributed as the catalyst for the sharp rise in prices in June.
EDX Markets, backed by several major financial institutions such as Fidelity, Charles Schwab and Citadelwas recently launched, and observers believe that this exchange will be viewed more favorably by regulators than competitors such as Coinbase.
Bitcoin Cash was created in August 2017 as a result from a division of the original Bitcoin blockchain.Its creators launched this new blockchain to solve the limitations of bitcoin, such as the problems related to scalability and transaction speed.
Bitcoin Cash’s strong recent performance since mid-June makes it the best performing cryptocurrency among the top 100 by market capitalization over the past thirty days, up over 150% according to CoinGecko.
The bulls have identified the key level of support turned into resistance around $385 as an important short-term price target.
Is it too late to buy Bitcoin Cash (BCH)?
The sharp rise seen in recent weeks is causing concern among some cryptocurrency investors who fear they have missed the opportunity to buy BCH at a low price. They are now wondering if it is too late to buy Bitcoin Cash.
Well, although the impressive output of the fork $90-$160 price range that BCH had been stuck in for about a year seems to indicate a longer-term bullish momentum, the BCH is still far from its previous all-time highs.
In May 2021, Bitcoin Cash hit highs over $1,600either more than 6 times current levels. During this time, in 2017the BCH reached at some point a high of $4,300.
The difficulty for BCH keep pace with bitcoin adoption means a return to those 2017 highs may never occur. However, if we are in the early stages of a new cryptocurrency bull market, BCH could still perform very well.
Since the cryptocurrency still looks cheap compared to its history, it’s definitely not too late to buy BCH.
Bitcoin Cash (BCH): An Alternative to Consider – yPredict (YPRED)
Investors should always be on the lookout to diversify their cryptocurrency holdings. A high-risk, high-reward investment strategy that some investors might consider is to participate in cryptocurrency presales.
This corresponds to the purchase of tokens emerging cryptocurrency projects by investors in order to help finance their development. These tokens are almost always sold at a very low price and there is a long history of pre-sales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and great vision to deliver a revolutionary cryptocurrency app/platform. If an investor can identify such projects, the risk/reward ratio of their presale investment is very interesting.
The Cryptonews team spends a lot of time review pre-sales projects to help investors. One project in particular that they feel has a lot of potential is a Web3 start-up powered by artificial intelligence (AI) called yPredict.
The platform is best known for its institutional grade financial price prediction systema first of its kind.
Observers believe that this tool, which relies on the in-depth analysis of yPredict’s internal data, will help cryptocurrency investors to easily discover the next explosive cryptocurrency.
The highlight is that yPredict’s cryptocurrency price prediction system will remain free and accessible to all users. Price predictions will be public and viewable without requiring a login, as explained in the white paper of the project.
But yPredict offers investors more than just predictions of price in cryptocurrency.
The project is “building a cutting-edge crypto research and trading platform that offers traders and investors access to dozens of AI-powered signals, breakouts, pattern recognition, and tracking features. social sentiment/news,” the startup says in yPredict’s Litepaper.
Indeed, potential investors should also keep an eye out for the highly anticipated launch from Alt_Pump_001an AI model designed to predict the next rise in altcoins (alternative cryptocurrencies).
The platform is also in the process of developing all a series of other AI-powered toolsincluding a revolutionary content management system.
As AI continues to make waves in the cryptocurrency industry and beyond, projects such as yPredict should generate significant interest.
This is why many industry observers believe that AI-based cryptocurrencies. Like the native token $YPRED of yPredict, currently available for presalewill be among the next best performing cryptocurrencies.
The presale of $YPRED token has been a great success at every stage. July 7, the project raised more than $2.8 million.
Investors must act quickly to take advantage of the next price rise when the presale will reach $2.98 million.
Our complete guide on how to buy the YPRED token
Visit yPredict here
This article does not represent investment advice in any way. The information provided here should not be used as the basis for making financial decisions. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.