Both Bitcoin and Bitcoin cash are gearing up for a bullish rally against paths of resistance and a bearish market in Mid-May.
Bitcoin (BTC) Coin Price Watch
Bitcoin currently is challenging its lower resistance level of $7,490 roughly. But it has all the potential to break away from this lower level to reach highs not seen for a while.
Developments in locations such as South Korea, with their top court formally recognising Cryptocurrencies as an ‘Asset with a measurable value'. It's believed that Bitcoin has all the potential to move away from the $7,600 mark and breach $12,500 with trading in early-June.
With Bitcoin sitting at its current value, investors would be wise to buy now for a much-awaited break upwards.
Bitcoin Cash (BCH) Short Term and Long Term Outlooks
Bitcoin Cash has made some significant progress over the past few months. Moving from a level of inactivity during its life-span, but has exploded onto the scene, reaching highs of just under $1,800.
Starting off its life as a hard-fork away from the larger bitcoin, it's unknown whether BCH will emerge as a direct rival to BTC. But its future remains an exciting one to observe and get involved in.
One thing that may guarantee Bitcoin remains dominant in the Cryptocurrency world are the legions of supporters that resolutely stand behind it. But should it remain the number one crypto, it would be abnormal when compared with other areas such as technology; with companies winning and losing against rivals constantly.
For investors, however, BCH is the better option for returns, this is simply due to the fact that while Bitcoin has demonstrated exceptional volatility, Cash remains a strong investment choice for those that invested early on.
When it emerged from Bitcoin's hard fork, it was valued at just over $200 compared to Bitcoin's $2,500. Since then, even with the bearish markets in January and February, Cash has remained in a bullish state for early buyers.
At $1,043 in trading so far, Bitcoin Cash is still churning out exceptional profits for early adopters of the coin. While Bitcoin has the appeal of popular opinion, Bitcoin Cash demonstrates itself as an exciting investment prospect by comparison.