In spite of remaining in 18th place in the CoinMarketCap ranking, BCH has faced turmoil in its value within market volatility. Significant price variations and regional challenges are revealed in Latin America.
Bitcoin Cash (BCH) has been one of the cryptocurrencies that has remained within the top 25 of the ranking maintained by CoinMarketCap. It is currently ranked 18th according to the data provided by the portal.
At the end of June until last August 23rd, the price has fluctuated downward, losing 39.56% of its price, going from being worth about 305.3 to reach the price of $184.5 per token.
Price Evolution, Expectations
Bitcoin Cash recently undertook a hard fork, which means that a major update has been made to its protocol. This Bitcoin Cash hard fork has brought with it a number of new improvements and features that aim to strengthen and improve the user’s experience.
The RSI indicator shows that Bitcoin Cash is currently struggling in a bearish zone, clearly showing that it is in an oversold zone, something that is bearish, logical with the collapse cryptoassets have had. The moving average indicator for the last 20 days shows how the asset is breaking above the $214.5.
Similarly, the same indicator for the last 50 days shows that the price closed at $237.6, meanwhile, the indicator for the last 100 days shows that the price closed at $196.4. The data also indicates that the next target to reach is $196, precisely to return to the levels prior to the rally obtained after the May bifurcation.
Anyway, the crypto ecosystem is still young and volatile, which leaves the window open for a new price drop near $168.1 as a lower band.
Bitcoin Cash Behavior in Latin America
Taking into account this entire panorama about this cryptoasset, it is shown its behavior in the main markets of the region.
Argentina
Starting in Argentina, where there is a relevant variety of platforms for the purchase and sale of cryptocurrencies.
Argentina bitcoin cash (BCH) has been trading at an average price of ARS 144,726.81, according to the four portals that were researched.
According to Binance, the BCH was priced for purchase at a value of ARS 143,177.43. Similarly, Satoshitango offered the possibility to buy BCH on its platform at a value of ARS 151,914.56 and for sale at a price of ARS 144,058.56 showing on the portal a recovery variation of 3.20%.
On the other hand, CryptoMarket offered BCH for purchase at a price of ARS 142,219.27, with an increase in its price of 3.40%. Bitso offered BCH at ARS 141,596 with an appreciation of 7.19%.
Brazil
In Brazil, the BCH price was averaging at BRL 961.93, according to the platforms mentioned below.
CryptoMarket quoted the price of the asset at BRL 954.54 for purchase, up 5.37%. Likewise, OKX showed the BCH purchasing quote at BRL 952.86, up more than 4.80%.
On Satoshitango, the BCH price was quoted for purchase at BRL 983.37 and for sale at BRL 952.86 per unit, up 2.50%. Bitso also offers its services in the South American giant, and the portal indicated the BCH price at BRL 956.98 with 5.92%. increase.
Chile
In the southern country, the BCH price floated around CLP 168,253.96, according to the data provided by the main portals that operate with the crypto-asset.
CryptoMarket showed for purchase the BCH price at CLP 165,770 with an approximate price increase of BCH at 3.57%.
In Satoshitango, BCH was quoted at CLP 175,964 for purchase, and for sale at CLP 170,655, with a 2.0% positive variation in the value reflected by the portal. However, on the OKX platform, the BCH price was displayed at CLP 166,079.21 with an increase of 4.80%.
Coinbase, on the other hand, quoted BCH at CLP 166,750.62 with a rise in its price close to 5.25%. Similarly, Buda.com was trading at CLP 166,706 with a 6.2% increase.
By Audy Castañeda
