It’s been an interesting year for the price of Bitcoin Cash, which rose sharply in June but has since failed to rally with the overall market rising. Let’s dive into the reasons behind this, check price predictions, and some important price levels to look out for. We’ll also share our research about a coin that is predicted to rise much higher than Bitcoin Cash.
Why did Bitcoin Cash pump in June 2023?
BCH went up from $101 to a high of $225 at the end of June and $303 at the beginning of July. The reason for this sudden gain was connected with all the FUD created by the SEC after Gary Gensler declared that a huge list of cryptos were securities.
Bitcoin cash, however, got listed on the EDX exchange, signaling that it was not a security, and this caused the pump.
But after Ripple won its court case in a historic victory against the rarely defeated SEC, the price of Bitcoin Cash dropped again. Why? Because the whole reason behind the pump, (its lack of security status), was no longer relevant since XRP and other currencies were now once again not considered securities.
BCH Price Predictions and levels to watch
Unlike other currencies, Bitcoin Cash has failed to see much in the way of positive price action since Bitcoin surpassed the $35,000 mark. That said, it is up from its August low of $186, to a current price of $234, having rejected the $250 price point.
If Bitcoin Cash can surpass this resistance level then this will be a bullish sign for the coin. Analysts and BCH maxis maintain that there has been a consolidation period and also whales taking profit, and believe that Bitcoin Cash will rise from here.
Of all the technical and algorithmic prediction sites, PricePrediction.net has shown itself to be the most accurate, with BCH price predictions ranging from $250.59 to $269.77 in 2023. So once again we see that $250 is a key level, and from there $260.12. If it can hit those targets then the site is bullish about 2024, predicting a range between $367.52 to $433.96.
Where to find bigger gains than Bitcoin Cash
If all of this is leaving you uninspired, or you want to diversify your portfolio, then this next coin will be of interest – MGLS. This coin has just entered the first phase of its presale at $0.0019 and is predicted to rise by 100x or more by the end of the year.
MGLS is the token behind Meme Moguls, a project that plans to bring a stock exchange to the world of memes. As a utility-backed token, MGLS looks promising, as the Meme Moguls platform will also provide games and a community space for people to have fun and improve their trading skills.
There will be numerous ways to earn in the ecosystem, from participating in the community and receiving tokens, trading meme-based assets, collecting meme NFTs and staking rewards.
And before any of that happens, the thing to take part in is the presale itself, since the token is guaranteed to rise as each stage of the presale proceeds. If you missed out on the gains from PEPE and GROK, Meme Moguls gives you a chance to earn big and learn where to find future promising memecoins, before other people find out. Plus, the team is giving away $10,000 at the end of each presale stage to one lucky investor.
