Sohrab Khawas
Despite the hype around Bitcoin halving rising day by day, Bitcoin fails to reflect this in the market price. However, the close relatives of Bitcoin, Bitcoin Cash and Bitcoin SV are preparing for the next stage of the bull run.
With the price trend and patterns reflecting an underlying demand for the said altcoins, buyers are hoarding them rapidly. The intent behind this demand is possibly the additional momentum received due to any upmove in Bitcoin.
So, let’s have a closer look at each of the altcoins and their price charts to find the next potential entry opportunity and the bullish target.
Will Bitcoin Cash Price Top $1000?
With a remarkable trend reversal, the Bitcoin Cash price shows a bull run, gaining momentum with each breakout. The 143% jump in the last six weeks has brought the BCH price from $260 to well above $600.
Further, the recent price retest of the $600 breakout or the 38.20% Fib level replenishes the bulls after a long sprint. This successful post-retest reversal teases a trend continuation.
With the bullish rally gaining momentum, the BCH price eyes $920 at the 61.80% trend-based Fibonacci level. Hence, optimistically, the altcoin price can reach the $1000 mark as the Bitcoin halving craze picks up the overall market momentum.
Will BSV Price Cross $100?
Despite lesser momentum and a comparatively shorter bull run than the previous altcoin, Bitcoin SV shows immense potential. As the altcoin reverses from the low of $18 and trades close to $100, it is up by 300% in the last 300 days.
Further, the BSV price shows an ongoing struggle to surpass the 200W EMA and the 23.60% Fib level at the psychological mark of $100. However, the bull run avoids any significant dump and sustains a sideways move.
This increases the likelihood of a golden crossover in the weekly chart. Hence, Bitcoin SV is preparing for a bull run with a potential $100 breakout. As per the Fibonacci levels, the breakout rally could reach the $223 mark at the 61.80% level. However, the altcoin must surpass the psychological barrier of $200.
