The post How Will BSV And BCH Price React As BTC Price Hits $100k? appeared first on Coinpedia Fintech News
Story Highlights
Bitcoin price hits $100k, achieving a new milestone in the market.
However, Bitcoin-based altcoins record increased volatility, indicating uncertainty.
Technical sentiments hint at a sustained bullish price action this week.
As BTC price hits new ATH above the $100,000 mark, the cryptocurrency market has achieved a new benchmark in the world market. With the total market cap surpassing the $3.59 Trillion mark, Bitcoin alone contributes ~$2 Trillion.
Following this, the volatility in the market has skyrocketed, with Bitcoin-based altcoins recording a highly volatile action. With the present market sentiments, is this a good time to hold Bitcoin Cash And BSV crypto tokens?
Bitcoin Cash (BCH) Price Analysis
The BCH price has breached the $600 mark and is currently valued at $607. This has resulted in this altcoin adding ~8% in 24 hours with a trading volume of $1.457 billion. However, it has soared 17.48% in the last seven days and 84.38% during the past 30 days.
BCH Analysis 5th Dec 2024
The technical sentiments, MACD and SMA have both recorded a bullish price trend in their daily time frame. This suggests a positive outlook for this Bitcoin-based altcoin in the upcoming time.
If the bullish sentiment sustains, the Bitcoin cash price will experience a massive price surge and possibly retest its upper resistance level of $750 in the coming time. However, if the crypto market experiences a strong liquidation, this could result in this altcoin retesting its low of $507.
Also, read CoinPedia’s Bitcoin Cash Price Prediction!
Bitcoin SV (BSV) Price Analysis
The BSV price has experienced a similar price action by recording a jump of ~12% in the last day. With this, this altcoin has secured the spot on the top gainers list in the daily price performance. Moreover, in the longer time frame, it has surged 86.12%, making it a fundamentally strong token.
BSV 5th dec 2024 price analysis
The Relative Strength Index (RSI) continues hovering close to the overbought range in the daily time frame. Moreover, the EMA 50/200-day records a Golden Cross, highlighting increased bullish sentiment for this altcoin in the crypto market.
Pushing the price above its $86 mark will set the stage for BSV price to head toward its upper resistance level of $100. On the flip side, a bearish reversal could pull the price toward its low of $55.50 in the upcoming time.
Also, read Bitcoin SV Price Prediction!
FAQs
For Bitcoin Cash price to this this target price, it will require a surge of 66.37%.
With an intraday jump of 11.85%, this altcoin is currently valued at $83.72.
Reportedly, 94.25% of the total supply is mined with only 5.75% of BCH tokens remaining.