A recent analysis conducted by IntoTheBlock revealed that more than 80% of BCH addresses have profited. Chainlink has an even number assigned and 75% of Bitcoin investors are in the safe zone.
For any address with a positive balance, ITB identifies avg price at which tokens were acquired, indicating if the address is at profit or loss.
— intotheblock (@intotheblock) August 29, 2019
There are various drawbacks to this analysis. Some people have debated about the percentage and why it may be invalid. Someone with 20 BCH isn’t on the same level as a person with 500,000 BCH. If you remember, back in December last year the price was close to the $80 mark. Thus, Bitcoin Cash has certainly risen as a result of interest from retailers as well as institutions.
The data obtained from the BCH/USD chart on tradingview [based on values on Bitstamp] points to bearish pressure impacting the altcoin. The MACD line has been descending beneath the signal line, thus helping the red histogram grow. The previous four peaks [including today’s] for the Awesome Oscillator have been brown, and the RSI is at 31.13 indicating activity from sellers. Support lies at the $276.86 mark, and resistance will be felt close to $309 level.
Bitcoin Cash is ranked at #4 beneath XRP on coinmarketcap. It is presently fluctuating in the market; just a few minutes ago it was in the green zone. The price has declined by 0.13% in the course of the past 24-hours. The trading volume recorded is $1.217 billion, while the supply has 17,976,888 BCH coins in play. As of this moment, BCH is priced at $279. The total market cap of Bitcoin Cash is $5.013 billion for now.
— Roger Ver (@rogerkver) August 31, 2019