Key Takeaways:
- Bitcoin rallies 12% in June 2023 while Bitcoin Cash records a 100% jump in value in the same timeframe.
- Bitcoin’s price structure has been more structured and consistent over the course of 2023, while Bitcoin Cash’s spike has been more abrupt.
- Bitcoin presents a near 20% rally in terms of price prediction, while from a technical point of view, Bitcoin Cash can potentially give near 30% rally by the end of 2023 from current levels.
Bitcoin Price Rises 12% in June: King Coin Leads the Market
BTC/USD | Source: TradingView
- Bitcoin has been on an absolute roll this year, with BTC price gaining nearly 12% in June alone and over 80% in 2023 so far!
- BTC price is trading very near the highest point of 2023, trading just above $30,300 as of writing this article – having even touched near $31,000 briefly a few days ago.
- BTC price did face a brief bout of bearishness in the month of May, but in June, things recovered very quickly in June, with Bitcoin gaining nearly 20% from June month lows.
- However, it must also be noted that Bitcoin price is still trading below its earlier uptrend (indicated by the blue diagonal trendline).
- Thus, a Bitcoin price prediction for 2023 seems pretty optimistic so far, with $36,000 to $37,000 looking pretty attainable by the end of 2023 – which is another 20% upside from current levels.
Read more: Bitcoin Prediction 2023
Bitcoin Cash Price Doubles in June: Bitcoin Rally Effect!
BCH/USD | Source: TradingView
- Bitcoin Cash as a crypto asset has been impervious to the broader market rally, but in the month of June, BCH price has seen a massive rally.
- BCH price has doubled in value ever since the beginning of June, going from around $111 at the beginning of the month to $225 as of writing this article.
- Additionally, the 50-day and the 200-day exponential moving averages have also undergone a golden crossover thanks to this massive rally in BCH price, which will bring in some additional bullish support for the altcoin.
- The recent rally in Bitcoin Cash has been supported by heavy volumes, too, as depicted by the underlying volume indicator on the chart.
- However, in the near term, BCH might see some weakness as the RSI for the token has gone into the overbought territory, with its value near 80 as of writing this article.
- Bitcoin Cash is now at its highest point in the past year, more specifically, since May 2022.
- On the upside, the next resistance zone for the BCH price can be expected around $300 and $360 if that level is flipped. Bitcoin Cash price prediction 2023 can be expected to also be reasonably bullish, with $300 levels being achieved by the end of the year, giving a 25-30% rally from current levels.
Read more: BCH Price Prediction
Bitcoin Duo Going Strong: Bitcoin vs. Bitcoin Cash
Both Bitcoin and Bitcoin Cash have been rallying in the month of June 2023 – with Bitcoin rallying around 12% this month while Bitcoin Cash is jumping over 100% at the same time. However, on a broader 2023 scale, Bitcoin has performed pretty much at par, with Bitcoin rallying over 81% in the YTD timeframe, but Bitcoin Cash has rallied about 130% only. Bitcoin’s rally has been more sustained over the course of the year, while Bitcoin Cash’s rally has been more sudden and happened towards the end of this month. But both these tokens hold great promise for the rest of the year, as the overall bullish sentiments remain strong.
Values as on June 28, 2023.
Read more on: BTC vs BCH
