Long
BCHUSD likely to continue its bullish run
About two weeks ago, I posted that BCHUSD was going to continue out-perform the market. Indeed, it has done well, even though perhaps not as outstanding as the lines on my previous chart suggested.
On the other hand, this relatively-quick yet highly stable growth means downside risks are reduced. At the moment, my target is still 2.618x = $2500 perhaps by the second week of December.
Something to keep a close eye on would be the volatility in BTC: hardcore BTC supporters tend to sell their BCH to buy BTC when the price of BTC drops quickly. On the other hand, many investors seem more likely to flip BTC for BCH. This balance is interesting, and as BTCUSD approaches 10k will play an important role.
On the other hand, this relatively-quick yet highly stable growth means downside risks are reduced. At the moment, my target is still 2.618x = $2500 perhaps by the second week of December.
Something to keep a close eye on would be the volatility in BTC: hardcore BTC supporters tend to sell their BCH to buy BTC when the price of BTC drops quickly. On the other hand, many investors seem more likely to flip BTC for BCH. This balance is interesting, and as BTCUSD approaches 10k will play an important role.
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