Bitcoin Cash (BCH) is a little higher on Friday at current levels just above $280, having managed to recover more than 13% from earlier weekly lows around $250.
However, in the grand scheme of things, the recovery isn’t much to get excited about as BCH remains well within its $250-$330ish ranges of the last week.
Indeed, the BCH bulls have been taking a breather over the past seven days after a huge 3x pump in the second half of June from lows under $100 per token.
News that BCH will be one of the few cryptocurrencies listed on by crypto exchange EDX Markets was attributed as the catalyst for June’s big price spike.
EDX Markets, which is backed by a number of major financial institutions like Fidelity, Charles Schwab and Citadel, recently launched and observers think that the exchange will be looked on more favorably by regulators than its competitors like Coinbase.
Bitcoin Cash was created back in August 2017 as a result of a hard fork from the original Bitcoin blockchain.
Its creators launched the new blockchain to address the limitations of bitcoin such as problems relating to its scalability and transaction speed.
Bitcoin Cash’s strong recent performance since mid-June means that it is the best-performing cryptocurrency in the top 100 by market capitalization over the past thirty days, up over 150% as per CoinGecko.
Bulls have marked out the key long-term support-turned-resistance level around $385 as a key near-term price target.
Is it Too Late to Buy Bitcoin Cash (BCH)?
The strong rally over the past few weeks has some crypto investors concerned that they might have missed their chance to buy BCH on the cheap.
Is it too late to buy Bitcoin Cash, they might now be asking.
Well, while the cryptocurrency’s strong breakout from the $90-$160ish range it was stuck within for around one year certainly seems to signal a longer-term bullish impulse, BCH is still a long way down from previous all-time highs.
Back in May 2021, Bitcoin Cash rose as high as the $1,600s, more than 6x up versus current levels.
Meanwhile, back in 2017, BCH at one point went as high as $4,300.
The cryptocurrency’s struggle to keep pace with Bitcoin’s adoption rate means that a return to these 2017 highs may never happen.
But if we are in the early stages of a new crypto bull market, BCH could still do very well.
With the cryptocurrency still looking cheap by historical comparison, it certainly isn’t too late to buy BCH.
Bitcoin Cash (BCH) Alternative to Consider – yPredict (YPRED)
Investors should always be on the lookout to diversify their crypto holdings.
One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales.
This is where investors buy the tokens of up-start crypto projects to help fund their development.
These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
One such project that they think has a lot of potential is an artificial intelligence (AI) powered web3 start-up called yPredict.
The platform is best known for its first-of-its-kind, institutional-grade financial price prediction system.
Observers think the tool, which is built on yPredict’s in-house deep data analysis, will help crypto investors discover the next explosive crypto with ease.
The best part, yPredict’s crypto price prediction system will remain free and open for all users to access – the price predictions will be made publicly available and require no login to see, the project’s Whitepaper explains.
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.
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