Is Bitcoin Cash’s (BCH) Low Motility Today Preparing It for a Price Spike?
There is little movement today for Bitcoin Cash (BCH) as it makes a minor gain of 0.22% from yesterday, bringing the BCH rate up to $109.61 (BCH/USD). We saw the coin climb last week in what looked like the beginnings of a bull run, but then its momentum ran out and the rate dropped shortly thereafter.
A Busy, Volatile Token
What is interesting about Bitcoin Cash right now is that there is a lot of movement with it from week to week. It is not staying in one place for long, which gives investors plenty of opportunity to play with this token and get a chance at making a tidy profit.
Even today, the BCH rate has been all over the place. While a quick glance at the change from yesterday shows almost no movement, the hour-to-hour chart is showing plenty of action. Just look at the trade volume of this coin, which is moving $139 million every 24 hours. That trade volume might be down about 13% right now, but even those numbers have been fluctuating wildly over the last month.
Should You Expect a Sharp Increase?
Just today, the BCH price has vacillated between $108.74 and $109.79. That strong movement at a micro level could translate to a larger trend in the next few days. Watch this coin closely for indications that it could jump, like it did on Monday when the price rose from $111 to $116.55 in a few hours. Most amazingly of all, that price did not change radically for a few more hours.
However, the BCH rate did eventually fall back below to where it was before the price began to increase. This is making some analysts wonder if Bitcoin Cash has seen too much movement lately and if it might settle even lower over the weekend. We would advise against a hefty investment at this point, since its erratic movement could cause it to go either way right now.
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