After failing to break through the $35,000 mark, the BTC price fell back to $34,500. But what about the others? The increased volatility in Bitcoin‘s price has also had a positive impact on altcoins. In the midst of excessive optimism about the end of the bear market, we have seen cryptocurrencies double in value. So, what are the predictions for BCH Coin?

Bitcoin Cash (BCH)

비트코인 캐시(BCH)

Miners have a significant influence on the price of PoW-based cryptocurrencies. Before the recent rally began, Dogecoin miners were also exerting significant downward pressure on the price. Similarly, in the case of altcoins like SOL and LINK, it was the miners who were suppressing the price of BCH.

According to the IntoTheBlock chart, the cumulative balance of miners, which was 6.59 million on September 29, has now decreased to 5.81 million. This indicates that miners have been selling a significant amount of their holdings as market sentiment recovers.

Miners who sold 780,000 BCH have clearly expressed their medium and long-term expectations. Despite the overall positive market sentiment and BTC surpassing its 17-month high, senior BCH miners believe that taking profits is the more sensible option.

780,000 BCH를 판매한 채굴자들은 중장기적 기대를 분명히 표현했습니다. 전반적으로 긍정적인 시장 정서와 BTC가 17개월 최고치를 넘어섰음에도 불구하고 고위 BCH 채굴자들은 이익을 얻는 것이 더 합리적인 선택이라고 믿습니다.

BCH Coin Analysis

BCH 코인 분석

The performance of BCH Coin, which lags behind the top 20 cryptocurrencies, will be determined by miners. If they stop transferring to exchanges after the $200 million sale, this BTC rival altcoin could start to rise.

So, what are the whales doing while the sales continue? During the same period, whales accumulated a total of $10.2 million. This indicates that the miner sales are distributed among smaller wallets. If whales continue to accumulate like small investors, we could see the price reach $300. In fact, under normal circumstances, if miners had not released such a large supply, the price we see today would likely be around $300.

그렇다면 판매가 계속되는 동안 고래들은 무엇을 하고 있을까요? 같은 기간 고래는 총 1,020만 달러를 축적했습니다. 이는 채굴자 판매가 더 작은 지갑에 분산되어 있음을 나타냅니다. 고래들이 소규모 투자자처럼 계속해서 쌓이면 가격이 300달러에 도달하는 것을 볼 수 있습니다. 사실, 일반적인 상황에서 채굴자들이 그렇게 큰 공급량을 공개하지 않았다면 오늘날 우리가 볼 수 있는 가격은 약 300달러 정도였을 것입니다.

The $280 resistance level appears to be challenging, and bears will strive to pull the price down to $200. The correction tendency of BTC after its recent test of $35,000 also suggests that support in the overall market sentiment may weaken.

Investors will have to choose between the $225 and $200 support levels and the $280 and $300 resistance levels. At the time of writing this article, BCH Coin is trading around $250, while BTC finds buyers at $34,591. Gensler’s (unsurprising and consistent) anti-crypto statements at the time of writing this article have pushed the price down somewhat.

투자자들은 225달러와 200달러의 지지 수준과 280달러와 300달러의 저항 수준 중에서 선택해야 합니다. 이 기사를 쓰는 시점에서 BCH 코인은 약 250달러에 거래되고 있으며 BTC는 34,591달러에 구매자를 찾습니다. 이 기사를 작성할 당시 Gensler의 (놀랍지 않고 일관적인) 암호화폐 반대 성명으로 인해 가격이 다소 하락했습니다.

계속 읽기: https://en.coin-turk.com/bitcoin-cash-bch-price-prediction-what-can-we-expect/