. 2 min read

Is Bitcoin Cash Going to Zero? $300 Million Trading Volume Sends BCH Price Down 7% as New Bitcoin Project Secures $400,000

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
Source / Sam Cooling

Bitcoin Cash (BCH) has undertaken a -7.71% retracement move to test accumulatory support at the 20DMA, but with price action tumbling – is Bitcoin Cash going to zero? 

The downside shift comes amid declining trading volume for BCH, which has dropped -48.19% overnight, to a lowly $246k.

However, community sentiment remains bullish – with BCH bag-holders carefully watching the accumulation zone around the 20DMA for a strong bounce in continuation with the ongoing rally trend for the leading hard fork project.

BCH Price Analysis: Is Bitcoin Cash Going to Zero After -7% Tumble?

In the midst of the downside move, Bitcoin Cash is currently trading at a market price of $231.7 (representing a 24-hour change of +0.16%).

This comes as price action enters a major re-test of support from the 20DMA – an area which has provided supportive footing to the rally move since August 29.

TradingView / BCH USDT

The $225 price level has acted as an accumulation zone for much of the price action since June, with historical bounces from here at the end of June and also at the start of August.

Meanwhile, the 200DMA remains ascendant but low in the chart down at $175.

As for Bitcoin Cash’s indicators, the RSI has cooled-off moderately from a strong oversold signal with the downside move, but still remains technically in bearish divergence at 57.97 – this could suggest price will push lower or consolidate longer.

On the other-hand, following the golden cross on June 24, the MACD is on parade at 1.6 – a significant bullish signal.

Overall then, BCH is in a crucial moment in technical structure, a bounce from the accumulation zone would send price high to upper trendline resistance – but rejection from support here could see price tumble significantly.

TradingView / BCH USDT

To the upside then, Bitcoin Cash is targeting a breakout move to $275 (a possible +18.79%).

While downside risk could see BCH slide down to lower support at $190 (a potential -17.93%).

This leaves Bitcoin Cash with a risk: reward of 1.05 – an almost balanced ratio highlighting the make-or-break position in the chart, and clear evidence that Bitcoin Cash is NOT going to zero anytime soon.

But while Bitcoin Cash is on the brink, smart money are already rotating profits into an emerging Bitcoin cloud mining presale that could offer superior returns.

Discover Bitcoin Cloud Mining With Bitcoin Minetrix – Over $450k Raised

Source / BTCMTX

Bitcoin mining, long seen as a domain dominated by colossal corporations with their deep pockets and access to state-of-the-art equipment, is undergoing a transformation.

Bitcoin Minetrix aims to ensure this lucrative venture is not just confined to the elites but is accessible to everyone.

How? By rewriting the rules of mining through its innovative Stake-to-Mine model.

In a move aimed at side-lining energy-guzzling equipment, Bitcoin Minetrix provides an avenue where BTCMTX token holders can stake their tokens to receive mining credits.

These credits unlock the door to efficient Bitcoin cloud mining, making the process sustainable, secure, and, importantly, within everyone’s reach.

Here’s Why BTCMTX is Set to Explode Upon Launch

$0.011 for the BTCMTX token, Bitcoin Minetrix isn’t asking for a fortune but an opportunity.

An opportunity for investors to be a part of a transformation that could very well redefine the Bitcoin mining landscape.

And if the initial figures are anything to go by—with the project raising $115,000 within a day of the ICO announcement—investors are eager to hop on board this mining juggernaut.

What’s even more compelling is that this is not just an investment in a token but in a future-proof concept; a concept that merges the best of both worlds: staking and mining.

The results? Large APYs and rewards in the form of BTC, all without the traditional barriers of hefty investments and technical know-how.

How Does BTCMTX Ensure Security and Transparency?

Source / BTCMTX

The crypto world, unfortunately, has had its fair share of scams, especially in the cloud mining sector and this is where Bitcoin Minetrix departs from the norm.

Not only does it provide a transparent mechanism of mining but it also empowers its investors. How? By ensuring they have constant control over their staked tokens and the flexibility to un-stake whenever they deem fit.

No hidden clauses, no fine print, just straightforward staking and mining.

Furthermore, for those concerned about the safety of their investment, the BTCMTX smart contract underwent meticulous auditing by Coinsult, a respected blockchain security entity. 

The verdict? Clean as a whistle.

Bitcoin Minetrix stands tall, not merely because of its unique proposition but its commitment to making Bitcoin mining a universal venture.

With just a minimum investment of $10, it’s demolishing the barriers to entry, proving that you don’t need millions to be part of the mining elite.

For those seeking to ride the next wave of crypto innovation, the Bitcoin Minetrix presale is an avenue worth exploring.

In a world where Bitcoin’s derivatives are gaining traction, this is a project that not only promises returns but also champions the democratization of Bitcoin mining – a true game-changer in every sense of the word.


Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.