Bitcoin Cash Is A ‘Wounded Animal’ Right Now: Analysts

The coming altcoin news show Bitocin Cash (BCH) in the focus. According to analysts, Bitcoin Cash is a wounded animal because of its recent downs, but could still surge and post gains near 150%.

In times when there is only one mover and shaker in the world of cryptocurrencies and it is evident which one it is (Bitcoin), Bitcoin Cash is volatile and seen as one of the smaller siblings while the other altcoins remain in deep hibernation. In fact, there are no major updates in the recent altcoin news and BCH is one of the cryptocurrencies with gains in the past 24 hours.

Speaking of, Bitcoin Cash is now at $331 with gains of more than 1% on the day. What is interesting is that it started the weekend with a low of $308 and surged over 10% to hit an intraday high of $340 during the Sunday trading session. On Monday, we saw a major pullback which took BCH to around $330 which is still a good position – and one that is outperforming most of the other altcoins.

Bitcoin Cash is now at the fourth place once again, reclaiming the spot in terms of its market capitalization which is currently below $6 billion. According to the famous cryptocurrency trader DonAlt who is featured on many best cryptocurrency news sites for scouring the altcoin charts, BCH has big potential right now.

“Looks as if it wants to pull a BTC like run soon. As long as it can close through resistance (0.035) I’ll suspect BCH is going to retest blue (0.075) which would be + 150% from here,” he said on Twitter.

$BCH

This is one of the charts with the most potential out there right now.
Looks as if it wants to pull a BTC like run soon.
As long as it can close through resistance (0.035) I'll suspect BCH is going to retest blue (0.075) which would be + 150% from here. pic.twitter.com/igJzVBauEw

— DonAlt (@CryptoDonAlt) August 11, 2019

Nearly all of the altcoin pairs have a potential, however, since the Bitcoin dominance is still so high, Bitcoin Cash is among the altcoins with the most potential, BCH can register gains and on a shorter time frame will apparently test resistance, as a prominent CNBC trader with a handle ‘Big Cheds’ noted.

$BCH #BitcoinCash – Testing key resistance pic.twitter.com/AJbCMlI4eN

— Cheds (@BigCheds) August 11, 2019

All in all, Bitcoin Cash is in our latest cryptocurrency news. Even though it is one of those controversial digital assets that often draws a lot of attention, it is also one of the main altcoins which deserves a place in the spotlight.

“BCH is a wounded, volatile animal. A year from now it will struggle to stay above $100. The project was DOA from day-1. 90% of its market cap is the product of manipulation that will be impossible to meaningfully sustain,” as described by the RT Anchor Max Keiser.

BCH is a wounded, volatile animal. A year from now it will struggle to stay above $100. The project was DOA from day-1. 90% of it’s market cap is the product of manipulation that will be impossible to meaningfully sustain.

— Max Keiser, tweet poet. (@maxkeiser) August 12, 2019