{"id":37247,"date":"2023-07-18T09:42:35","date_gmt":"2023-07-18T13:42:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bitcoin-cash-is-going-to-zero-as-bch-price-plummets-12-but-eco-friendly-btc20-may-be-the-next-crypto-to-explode-how-to-buy-early\/"},"modified":"2023-07-18T09:42:37","modified_gmt":"2023-07-18T13:42:37","slug":"bitcoin-cash-is-going-to-zero-as-bch-price-plummets-12-but-eco-friendly-btc20-may-be-the-next-crypto-to-explode-how-to-buy-early","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37247","title":{"rendered":"Bitcoin Cash is Going to Zero as BCH Price Plummets 12% But Eco-Friendly BTC20 May Be the Next Crypto to Explode \u2013 How to Buy Early?"},"content":{"rendered":"
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Bitcoin Cash (BCH) has seen a brief comeback in recent weeks following more than a year of rock-bottom price action, but a struggling chart structure could see BCH heading for zero in the near future.<\/p>\n

Originally created as a fork of Bitcoin in 2017, the result of divisions over the notorious BIP91 segregated witness (SegWit) upgrade – which opened the door to layer-2 solutions like the Lightning upgrade.<\/p>\n

With the aim of enabling larger blocks in the blockchain, Bitcoin Cash broke away as the first of the Bitcoin forks, and has emerged as a cult altcoin ever since.<\/p>\n

But in recent years since the tumultuous end of the 2021 bull run, price action has seen rock-bottom action, following a dramatic -87% cascade that left BCH trading around $90.<\/p>\n

Yet a few weeks ago on June 19, a surprise recovery rally was ignited, fuelling BCH community hopes as price action rocketed up 200%.<\/p>\n

But it seems the recovery has been short-lived, seemingly topping out at $330 on June 1.<\/p>\n

Bitcoin Cash (BCH) Price Analysis: Doomed to Breakdown?<\/strong><\/h2>\n

Following the impressive recovery rally, which saw BCH push high – breaking through resistance from the 20DMA and 200DMA, price action has taken a turn for the worse.<\/p>\n

As of today, BCH is currently trading at $236.5 (a 24 hour change of -2.23%).<\/p>\n

This comes amid an emerging cascade, which has seen BCH bleed-out -29% in just 20 days.<\/p>\n

Worse still, BCH failed to find much needed support from the ascending 20DMA – which gave way on July 14.<\/p>\n

With little to provide local support, BCH seems set on a collision-course down towards the 200DMA (currently at $140).<\/p>\n

BCH holder optimism is now pinned to the nearest lower support zone between $150-190 (based on historical data).<\/p>\n

Little solace is to be found in BCH indicators either, with the RSI still loosely on the fence at 48 (likely needing to cool-off further) and the MACD signalling bearish divergence at -10.<\/p>\n

With an upside target at the upper trendline around $300 (a possible +26 move) and downside risk significant at the $150 support level (a potential -36% slide) – BCH outlook appears bleak.<\/p>\n

BCH is currently facing a Risk: Reward ratio of 0.74 – and spectators and analysts alike are predicting a race to zero could soon be on the horizon.<\/p>\n

Best Bitcoin Cash Alternative: BTC20<\/strong><\/h2>\n

But all is not lost for the ranks of Bitcoin aficionados seeking opportunities to maximize their returns in the Bitcoin space, with a new project emerging captivating the hearts of Bitcoin maxis and evangelists alike.<\/p>\n

Launched yesterday, in a highly anticipated move, BTC20 has emerged as a new contender for best Bitcoin altcoin – with a visionary promise of fixing Bitcoin\u2019s dirty energy problem and bolstering holders with lucrative reward mechanisms.<\/p>\n

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How Does BTC20 Fix Bitcoin\u2019s Dirty Energy Problem?<\/strong><\/h2>\n

The major criticism of Bitcoin in recent years has stemmed from the huge carbon emissions generated by Bitcoin miners globally.<\/p>\n

Reliance on energy-intensive proof-of-work mining has seen emissions surge from just 0.9 metric tons in 2016, to a jaw-dropping 113 metric tons in 2021.\u00a0<\/p>\n

With the ever growing difficulty of Bitcoin mining, and an imminent halving event next year, BTC20 has stepped up to the plate to fix Bitcoin\u2019s energy consumption.<\/p>\n

By shifting to a proof-of-stake model, built on ERC-20, BTC20 holds the promise of reducing emissions by 99.95% for every transaction.<\/p>\n

How Does BTC20 Boost Holders With Rewards?<\/strong><\/h2>\n

But BTC20 goes beyond just re-imaging the environmental impact of Bitcoin, it aims to bolster ranks of loyal holders with the introduction of a novel long-term holder reward system.<\/p>\n

Holder rewards will be delivered through a stake-2-earn mechanism, incentivising holders to participate in validating on the proof-of-stake system.<\/p>\n

The proposed staking mechanism will distribute 14.96m tokens, unsold in the presale, over a period of 120 years – providing a longevity that may well outlive the original Bitcoin network itself.<\/p>\n

With an initial 3m tokens up for grabs in the sensational BTC20 presale, at an attractive price of just $1 it is hoped that BTC20 will help create an entirely new generation of Bitcoin holders.<\/p>\n

With the promise of seismic returns driven by tokenomic supply matching Bitcoin\u2019s 21m tokens and a committed team of developers working towards the 120 year roadmap – BTC20 is your chance to become a wholecoiner.<\/p>\n

Don\u2019t miss out on the future of Bitcoin.<\/p>\n

Buy BTC20 Here<\/strong><\/p>\n

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.<\/p>\n<\/p><\/div>\n