Bitcoin Cash (BCH) Considered Moderately Volatile as Losses Taper Off

Crypto token Bitcoin Cash (BCH) experienced a downward trend for several days, falling from Thursday last week until it finally stopped going bearish yesterday. Over that time, the BCH rate dropped from $123.36 (BCH/USD) to $110.32. That is a decrease of 10.5%. Today’s Bitcoin Cash rate is at $112, just where it was holding at this time yesterday.

Slowed Momentum

Bitcoin Cash has definitely slowed down from its movement over the last week. The coin is still seeing about $187 million in trades over a 24-hour period. That is down 10% from yesterday but still healthy for the #30-ranked cryptocurrency coin.

This outlook for BCH is definitely rosier if you take a month-long view at it. The coin has moved quickly from lows to highs, demonstrating some volatility. Still, it’s not considered as volatile as a lot of other crypto coins, with some analysts labeling it as moderately volatile. That means that you can depend on some consistency from BCH’s price movements. They tend to not stay down or up for very long, giving day traders something to work with.

Those hoping for a good long-term investment might want to steer clear, though, as the BCH rate has trended down considerably for the year. It started off this January at $442 and has fallen almost every month since then.

Is There Hope for BCH

The entire crypto market is trending down for the year, so long-term investments are not looking hopeful right now. The week-to-week movement is worth watching, though, for those who can spare the time. Bitcoin Cash could be headed for an upward surge very soon, since its momentum has slowed and it is just coming off a bearish few days. The time is just about right for it to turn around, especially heading into the weekend when trade volume tends to pick up.

We may see a climb back up to the $115 level in the next day or two, and if the momentum picks up, BCH could be testing the $120 resistance level by this time next week.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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