The Coronavirus pandemic 🦠 continues on its way. Meanwhile the crypto market seems to have completed its decoupling. BTC and BCH have catapulted to the moon 🌕. What is a good investment now, Bitcoin or Bitcoin Cash?
As we well know, Bitcoin Cash (BCH) was born as a consequence of a Hard Fork of Bitcoin in full 2017. The same year where each BTC token reached the price of almost $ 20,000. But, right now the question is which of the two is a better investment.
What is a good investment now?
In the past few hours, the cryptoverse as a whole has entered a catapult. Bitcoin (BTC) is up over 13% and Bitcoin Cash (BCH) up 12.8%.
From its lowest point this year, BTC has recovered a total of 73%. While, for its part, BCH has done the same by 68%. Very good figures if we compare them with any of the traditional markets. Which, since the beginning of the Coronavirus crisis, have marked a clear downward trend.
From now on, we are interested in knowing which of the two cryptos would be a better investment as of today. What do the experts tell us?
¿Bitcoin Cash (BCH)?
The price of BCH has featured increased trading, as have most cryptos in the ecosystem, which has supported this price surge amidst tumultuous weather.
“The 4-hour chart shows the price also dancing above the moving averages, which may mean that Bitcoin Cash breaks the next resistance level or has a slight price correction.”
According to the majority of crypto analysts who are constantly behind the price of this altcoin, a price correction is more likely than a break of the next resistance level.
On the positive side, the MACD is still in positive territory. A bullish divergence from the MACD gives the bulls hope that a rally above $ 240 is possible. ‘
This is coupled with the upward pointing wedge formation. Which shows that a rally is possible even to $ 250.
Bitcoin, meanwhile, has always started the second quarter of the year strong. So then the doubt awakens us. Bitcoin or Bitcoin Cash?
The leading cryptocurrency has created a pennant pattern on the daily chart, comprising trend lines connecting the highest and lowest lows. The pennants are considered continuation patterns, which means they tend to accelerate the previous bearish or bullish move.
But, the movement of BTC in recent days has been towards the increase in price levels.
“The outlook, however, would turn bearish if the pennants break to the downside. In that case, more sellers can join the market, lowering prices to $ 5,000.
The gains that both Bitcoin or Bitcoin Cash have made, along with all cryptocurrencies amid risk-free action in traditional markets, is a welcome change for observers who believe that cryptocurrency is a safe haven asset like gold.
But, you have to keep something in mind regarding the answer to the question that we have posed. Historically, the declines in BCH have been greater, and the gains minor relative to BTC. So apparently the answer seems simple, doesn’t it?
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What is a good investment now, Bitcoin or Bitcoin Cash?