In the past couple of weeks, the price of Bitcoin and Ethereum not grows with the expectations. After a huge fall 15 days ago, both the cryptocurrencies grows a bit but they didn’t reach their old peak price. Small-cap altcoins also faced a fresh round of profit booking, resulting in losses.
Bitcoin price failed to hold the USD 9,000 support and dropped towards USD 8,800. BTC/USD declined roughly USD 400 before an upward correction. The price is currently down 1.2% to USD 9,050, with resistances on the upside at USD 9,200 and USD 9,250.
On the other hand, Ethereum declined sharply and traded close to the USD 600 level. ETH/USD dropped around USD 50 before buyers appeared near USD 625. The price recovered nicely and is currently down 1.3% to USD 670.
For Bitcoin Cash and Ripple, Bitcoin cash is losing momentum below USD 1,350. BCH/USD could not overcome selling pressure near USD 1,400 and decline. It is currently down 4.4% to USD 1,325 with an immediate support at USD 1,300. On the upside, resistances are seen at USD 1,350, USD 1,380 and USD 1,400.
Ripple was stable and held the USD 0.82 support level. XRP/USD must move above the USD 0.85 resistance to avoid a retest of USD 0.80. Above USD 0.85, the price may perhaps test the USD 0.90 resistance.
The journey of Bitcoin Cash is really unbelievable. It grows faster than Bitcoin. Bitcoin Cash was introduced on 1st day in the month of August 2017. Its introduction was not done for greed but for the times need. Due to higher demand for Bitcoin in the last couple of years, the block size and number increase exponentially. And to cope with that an idea of splitting was passed. Hence we get the total new currency known as Bitcoin Cash. The initial value of the new currency was not more than $200 but at present, it is trading at nearly $1500, almost 8 times the value.
Bitcoin Cash is a Cryptocurrency similar to Bitcoin. Moreover, both of them share common roots. Bitcoin cash is very new to this world and will celebrate its first birthday in the month of August this year. Due to large size and number of Blocks Bitcoin system had to divide it’s working. From there a new Cryptocurrency Bitcoin Cash was introduced in this world. Bitcoin cash is worldwide decentralized payment system as Bitcoin. This means it is not under the control of any bank or a country.
Our Advice to Investors – You can invest in either Ripple (XRP) or Bitcoin Cash (BCH). Both the cryptocurrencies are looking good. You can imagine that if Ripple reaches $15 per XRP one day, where your investment will go. But needs a lot of patience then. On the other hand, Bitcoin Cash is also very nice. It is a growing cryptocurrency and it is also predicted that it may leave Bitcoin behind one day.