Today was a tumultuous day in the market as BTC fell definitively below 10k and seemed to bring BCH down with it in a highly correlated fashion. As BTC narrowly missed falling below 8k before going back up to 9k area, BCH was nosediving at an even slightly faster rate.
My prior prediction which I made on Twitter @healthwarrior1 was that BCH would maintain at the "gold price support" which is where it's value is comparable to an ounce of gold ~$1340 and that if that didn't hold that it would be propped up by the "Ethereum support" where it will not drop below the price of ETH ($1000-$1100 range).
Looking the chart today from coinmarketcap.com to see where the price discover played out, it is clear that the bottom was at $1214 or 0.14 BTC, but it bounced back just as sharply as it fell back up to the $1300 level still a little shy but close to the price of gold.
So I'm calling bottom at $1214, this is the dip and if you want in this the ideal range to get in ~$1250-$1300 range. Don't wait, buy that dip!
Please upvote and leave your comments below.
Do you agree that this was the dip ($1214) or do you think it will dip farther price of ETH ($1000) or you think will dip below 1k level before resuming its ascent to 7k in the next 4 months?
Disclaimer: Not a financial advisor and is information not advise, never invest more than you can afford to lose and do your own research.
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