Bitcoin Cash is getting all attention to what it needs lately. Bitcoin cash benefitted the most from BCHSV Delisting Chaos. Bitcoin cash is looking all good for a bullish trade, Let’s explore why?
Rise in Hashrate
Bitcoin cash hashrate got doubled since February, Bitcoin cash has been more profitable than mining Bitcoin recently which is attracting more miners to mine Bitcoin cash.
Golden Cross
A Golden cross formation is spotted on BCH/USD Daily chart. A golden cross is generally considered as a bullish pattern – BTC/USD have increased by 800$ since a Golden cross formed on its daily chart.
Schnorr Signature- Hard fork
Bitcoin cash is ahead of Bitcoin in terms of technical updates, They are going to implement privacy feature – Schnorr signature through a Hard fork on 15th May. The hard fork has always been a bullish sentiment- and we will surely see its effect on the price as well.
Read about Schnorr Signature .
Conclusion
Considering all three Reasons – We are expecting the price to rise above 350$ before 15th May.
For entries,Stop and Target levels, You can check out our trade recommendation here:
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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