Bitcoin Cash has had an impressive run over the past several days, and almost a week ago, managed to break through the $1500 mark. Since then, it has gone up and down around the $1500 area, without managing to make any significant momentum in either direction.
That, however, is now changing.
As of this writing, Bitcoin Cash has dropped down to $1182, and seems to still be falling. This is quite a big drop in a relatively short period of time, though the rest of the market is also having some level of difficulty, which surely didn’t help things.
Judging by how quickly it fell, and its current prices, it will likely have at least a modest rebound in the coming day, though after that it will be difficult to predict. There isn’t a lot going for Bitcoin Cash in terms of positive news, but not much negative is there either.
As usual with this currency, a lot will depend on whether certain major investors decide they want to try to push it upward again. This seems to happen every few weeks or months. Many people suspect that there are some powerful people who would love to see Bitcoin Cash become the new top dog in crypto. While this would certainly take some time, it is not outside the realm of possibility.
Of course, it is equally possible that other investors will get tired of the manipulation and uncertainty, and abandon it all together. This could lead to a very significant drop in the future, but that is likely a long way off, if it ever occurs.
For now, watch for BCH to rebound in the short term, and then meet some trouble after that.
