Bitcoin Cash (BCH) price analysis: condemned to collapse?

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Bitcoin Cash (BCH) erlebte in den letzten Wochen eine kurze Erholung, nachdem der Preis mehr als ein Jahr lang auf einem Tiefpunkt lag. Doch eine schwierige Chartstruktur könnte dazu führen, dass BCH in naher Zukunft auf Null zusteuert. Ursprünglich als Fork von Bitcoin im Jahr 2017 erstellt, war BCH das Ergebnis von Meinungsverschiedenheiten über das berüchtigte BIP91 Segregated Witness (SegWit)-Upgrade. Die Idee hinter BCH war es, größere Blöcke in der Blockchain zu ermöglichen. Seitdem hat sich BCH zu einem Kult-Altcoin entwickelt. Doch seit dem turbulenten Ende des Bullenmarkts im Jahr 2021 hat BCH einen Tiefpunkt erreicht. Eine dramatische Kaskade von …
Bitcoin Cash (BCH) has had a short recovery in the past few weeks after the price was at a low for more than a year. However, a difficult chart structure could lead to BCH heading to zero in the near future. Originally created as a fork of Bitcoin in 2017, the result of disagreements about the notorious BIP91 Segregated Witness (Segwit) was upgrade. The idea behind BCH was to enable larger blocks in the blockchain. Since then, BCH has developed into a cult alcoho. But since the turbulent end of the bull market in 2021, BCH has reached a low point. A dramatic cascade from ... (Symbolbild/KNAT)

Bitcoin Cash (BCH) has had a short relaxation in the past few weeks after the price was at a low for more than a year. However, a difficult chart structure could lead to BCH heading to zero in the near future. Originally created as a fork of Bitcoin in 2017, the result of disagreements about the notorious BIP91 Segregated Witness (Segwit) upgrade.

The idea behind BCH was to enable larger blocks in the blockchain. Since then, BCH has developed into a cult alcoho. But since the turbulent end of the bull market in 2021, BCH has reached a low point. A dramatic cascade of -87 % led to the BCH trading at around $ 90.

A few weeks ago there was a recovery rally for a short time when BCH rose by 200 %. But this recovery was short -lived. On June 1st, BCH reached its high at $ 330. Since then, the price movement has deteriorated. BCH is currently being traded at $ 236.5 and has decreased by -29 % in just 20 days.

BCH has not found any support from the rising 20DMA and seems to be $ 140 on a collision course in the direction of the 200dMA. The BCH indicators are also not very comforting. The RSI is 48, which indicates that further cooling is necessary, and the MACD signals a declining divergence at -10.

The prospects for BCH are dark, with a possible downward risk of -36 %. Analysts predict that BCH could soon head to zero, since the risk yield ratio is 0.74.

However,

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