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  • Bitcoin Cash is largely in the hands of the bulls ahead of a falling wedge pattern breakout.
  • Rodger Ver says Bitcoin is unlikely to ever hit 1000x growth when compared to Bitcoin’s growth potential.

Bitcoin Cash price seems to have found credible support at $300. The widespread losses experienced this week saw the bulls suffer greatly. Since the rally in January and the first two weeks of February hit highs close to $500, BCH/USD has not been able to sustain a proper uptrend let alone contain losses above key levels such as $450, $400 and $350.

Meanwhile, BCH is teetering at $327 after a subtle 0.98% growth on Friday. The entire crypto market is largely in the green with digital assets’ bulls trying to outsmart the bears in order to recover the lost ground.

Bitcoin Cash’s Rodger Ver love for Bitcoin started in prison

In an interview with Cointelegraph, Rodger Ver revealed that his time in prison allowed him to see the potential Bitcoin carried. However, Bitcoin Cash (BCH) gave him more fulfillment than Bitcoin (BTC).

Ver believes that Bitcoin Cash has the potential to rise between 500 times and 1,000 times. He added that BCH’s parent crypto Bitcoin was unlikely to ever go up as it had “committed economic suicide’ by not beefing up its block size.

Bitcoin Cash could potentially go up 500 or a 1000 times from where it is today. I don’t think BTC is ever going to go up.

Bitcoin Cash price analysis

Bitcoin Cash is on verge of another breakout likely to relaunch it in the trajectory towards $500. The spotted falling wedge pattern hints that a breakout is around the corner and with the right volume Bitcoin Cash could soon zoom past $350 and $400 respectively.

For now, technical levels suggest that Bitcoin Cash is in the hands of the bulls but it lacks enough power to deal with the selling pressure. In other words, sellers’ influence is still present and the RSI suggests that sideways trading between $330 and $340 could take precedence. Besides the support at $300, the 200-day SMA at $282 is in line to protect BCH from plummeting to $250.

BCH/USD daily chart
BCH/USD price chart