BCH price surges 13%, yPredict hits 2.8 million. Is it too late to buy Bitcoin Cash?
Bitcoin Cash (BCH) is slightly higher on Friday, currently above $280, after recovering over 13% from its weekly low of around $250.
However, in the overall context, the recovery isn’t significant as BCH remains within the $250-$330 range of the past week.
The BCH bulls have taken a break over the past seven days following a significant price increase in the second half of June, going from lows under $100 per token to a 3x pump.
- Google Cloud partners with Voltage to advance Bitcoin Lightning goals.
- US job growth in June fell short of expectations, with only 209K jobs added instead of the anticipated 230K.
- Larry Fink, BlackRock CEO, states Bitcoin is digital gold. What is the digital silver?
The catalyst for June’s price spike was the news that BCH would be listed on crypto exchange EDX Markets, which is backed by major financial institutions such as Fidelity, Charles Schwab, and Citadel. Observers believe that EDX Markets will have a more favorable regulatory environment compared to competitors like Coinbase.
Bitcoin Cash was created in August 2017 as a result of a hard fork from the original Bitcoin blockchain. Its purpose was to address the limitations of Bitcoin, such as scalability and transaction speed issues.
Bitcoin Cash has been the best-performing cryptocurrency in the top 100 by market capitalization over the past thirty days, with a strong performance since mid-June, up over 150% according to CoinGecko.
The key near-term price target identified by bulls is the long-term support-turned-resistance level around $385.
Is it Too Late to Buy Bitcoin Cash (BCH)?
The recent strong rally has raised concerns among crypto investors who fear they may have missed the opportunity to buy BCH at a low price.
They are now asking if it’s too late to buy Bitcoin Cash.
While the breakout from the $90-$160 range signals a longer-term bullish trend, BCH is still far from its previous all-time highs.
In May 2021, Bitcoin Cash reached highs of over $1,600, more than 6 times the current levels.
In 2017, BCH reached a peak of $4,300.
The cryptocurrency’s struggle to keep up with Bitcoin’s adoption rate suggests that a return to those 2017 highs may never happen.
However, if we are in the early stages of a new crypto bull market, BCH could still perform well.
Considering its historical comparison, BCH still appears cheap, so it is not too late to buy BCH.
Bitcoin Cash (BCH) Alternative to Consider – yPredict (YPRED)
Investors should always consider diversifying their crypto holdings.
One high-risk, high-reward investment strategy that some investors might want to consider is participating in crypto presales.
This involves buying tokens of up-and-coming crypto projects to support their development.
These tokens are usually sold at low prices, and there is a history of presales generating significant gains for early investors.
Many of these projects have strong teams and a vision to deliver revolutionary crypto applications/platforms.
If investors can identify such projects, the risk/reward of their presale investment can be very favorable.
The team at blockchain spends a lot of time researching presale projects to assist investors.
One project with potential that they recommend is yPredict, an AI-powered web3 start-up.
yPredict is known for its institutional-grade financial price prediction system, which utilizes in-house deep data analysis to help crypto investors discover promising cryptocurrencies.
The best part is that yPredict’s price prediction system is free and open to all users, with publicly available predictions that require no login to access, as explained in the project’s Whitepaper.
But yPredict offers investors much more than just crypto price predictions.
The project is “building a cutting-edge crypto research and trading platform that provides traders and investors access to dozens of AI-powered signals, breakouts, pattern recognition, and social/news sentiment features”, the start-up says in yPredict’s Litepaper .
Indeed, potential investors should also stay tuned for the highly anticipated launch of Alt_Pump_001, an AI model designed to predict the next pump on alternate coins.
The platform is also building a host of other AI-powered tools, including a ground-breaking content management system.
As AI continues to make waves in the crypto industry and beyond, projects like yPredict are expected to attract significant interest.
That’s why many industry observers are tipping AI cryptos like yPredict’s native $YPRED token, currently available via presale, to be amongst the next best-performing coins.
The $YPRED presale has been flying through the stages.
As of the 7th of July, the project has raised more than $2.8 million.
Investors need to move quickly to get in ahead of the next price rise when the presale hits $2.98 million.
Visit yPredict Here
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.