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From our current, all-time high, an 85% decrease would translate to $10,000 BTC,” said Delphi Digital.ĭelphi Digital said historical BTC charts suggested “a new cycle top in August 2025”. “It is also interesting to note that in both of the previous bear markets, BTC found its price floor after falling 85%. So far in 2022, the Fed has hiked rates in four of the most recent five meetings, from a near-zero rate of 0.25% in March to 2.5% by late July. Investors are increasingly looking to economic data to get clues about the future pace of monetary tightening by the US Federal Reserve (Fed) and other global central banks. Risk asset markets of cryptos and equities have seen an intense sell-off in recent months. Multi-decade high inflation in the US and various other parts of the world has forced central banks to shut off cheap liquidity and raise interest rates at an aggressive pace. The bear market has primarily been driven by macroeconomic conditions. In 2022, a bear market engulfed the cryptocurrency sector which has pushed crypto valuations to multi-year lows. The 14-day relative strength index came in at 51.98 and indicated a “neutral” action on 24 August 2022.
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The 200-day simple moving average of BCH stood at $226 and indicated a “sell” signal, according to CoinCodex. Technical analysis from CoinCodex on 24 August 2022 showed that the 50-day simple moving average of BCH stood at about $126 indicating a “buy” signal. More recently, the bitcoin cash price has rallied to gain about 15% in the last 60 days, as of 24 August 2022, to outperform bitcoin’s flat price movement in the same period.īCH was trading at $133 and BTC was trading at $21,412 on 24 August 2022. Naturally, the BCH to BTC price has extended its downward spiral to fall from 0.0093 at the start of 2022 to hit an all-time low of 0.00492 by early-July 2022. In 2022, BCH has seen bigger losses than BTC, with the former posting year-to-date (YTD) losses of about 70% compared to the latter’s 55% YTD loss, as of 24 August 2022. The current exchange rate of BCH to BTC stands at 0.006255, as of 24 August 2022, which is about 97% below the all-time high exchange rate of 0.236 BCH/BTC. Meanwhile, bitcoin’s valuation has grown in the same period, rising from less than $300bn to its all-time high market capitalisation of over $1.27trn, reached in November 2021.Īs of 24 August 2022, the market capitalisation of bitcoin has come down to over $407bn hurt by the crypto bear market of 2022. The market capitalisation of BCH has fallen from its peak of over $66bn, reached in December 2017, to its current valuation (24 August) of about $2.5bn, as of 24 August 2022. Since then the BCH/BTC price chart has seen a continued downtrend. The BCH/BTC exchange rate hit its record high of about 0.236 on 20 December 2017.
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It was around the same time that BTC had surged to $20,000 for the first time in its history. BCH hit an all-time high of $4,355.62 on 20 December 2017. Between 1 August 2017 and 1 December 2017, bitcoin cash surged nearly 300%, from under $400 to over $1,460. Looking at the historical BCH chart, it is evident that the early enthusiasm for the new hard fork helped the token enjoy the best months in its history. At the time, the BCH to BTC price was about 0.125. In parallel, BCH was trading at about $380. BCH to BTC price historical performanceĪccording to the historical BTC chart, the crypto was trading at about $2,700 on 1 August 2017. Hill, president of Hill Wealth Strategies, in conversation with Forbes. “Bitcoin cash would be better for something like a cup of coffee, while a larger purchase, such as a car or house, may warrant a slower and more secure cryptocurrency like Bitcoin,” said Daniel R.
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