Has Bitcoin Cash (BCH) Improved Since Hitting Month Low Recently?
Bitcoin Cash is holding steady with a 0.16% drop today, bringing the BCH price to $107.98 (BCH/USD). That’s up from the month low from a week ago of $103.
Should Investors Be Worried?
Bitcoin Cash managed a month high of $123, which is much lower than the monthly average over the last three months. So, even though the coin has recovered from the recent dip, it’s not improving week to week or even month to month. This is a crypto coin that is trending down by any metric you measure it.
Investors are starting to lose confidence in Bitcoin Cash, with trade volume dropping to $165 million today. Those still holding on to their Bitcoin Cash hoping for a future payout should definitely be worried. This coin does not seem to be going anywhere, whereas some of the better performing coins are showing at least greater volatility. Bitcoin has been far more active than Bitcoin Cash, and even though it’s trending down over the last few months as well, there has been so much vertical movement in both directions that investors have been able to find some value in it.
Is It Time to Bail on Bitcoin Cash?
Investors still holding on to their Bitcoin Cash tokens may be considering selling off, but is that the smart move right now? The fact that the coin is almost out of three-month low at the moment could mean that it is ready to turn around, at least in the short term.
Those who have held on to Bitcoin Cash over the long term may want to divest themselves of a coin that doesn’t seem to be going anywhere. However, investors who have only recently invested in Bitcoin Cash may want to wait to see if they can pull a profit by giving the coin a little extra time. There is still a lot of movement going on with this coin, and though it may not be as much as investors would like, there is hope for short term payoffs.
As we come into the weekend, Bitcoin Cash may test the $110 level and is not likely to dip down very far after its recent sharp drop from last week.
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