![Why Bitcoin Cash [BCH] investors shouldn’t expect profits anytime soon](https://i.headtopics.com/images/2022/8/28/cryptoamb/why-bitcoin-cash-bch-investors-shouldn-t-expect-profits-anytime-soon-1563670947923722240.webp)
Bitcoin Cash [BCH] investors shouldn’t expect profits anytime soon, here’s why…
at $145.92, having grown by 40% 30 days prior. As of this writing, the altcoin exchanged hands at an index price of $117.05, posting a 24% decline in the last 12 days.revealed. Although trading volume was up by 42% within the same period, the disparity between price action and trading activity indicates buyer’s exhaustion. This may occasion a further price drawdown.
The readings of BCH’s price movements on a daily chart did not tell a good tale either. Since 19 August, investors have gradually reduced their BCH holdings. The uptick in coin distribution sent key indicators – Relative Strength Index , Money Flow Index , and Chaikin Monkey Flow - below their respective neutral spots.
As of this writing, the RSI was 40. The coin’s MFI was 39, while its CMF was -0.20. A reading of the positions occupied by these indicators was that buying pressure for the BCH token had dropped in the past few days.The count of unique addresses that have traded BCH coins has declined since 15 August. According to, daily active addresses on the BCH network stood at 16,400 addresses at press time. It fell by over 71% decline in the last 12 days.
As for transaction volume on the network, this also dropped by over 50% within the same period. Represented in USD, BCH’s transaction volume has fallen from $93.79 million to $9.63 million in less than 15 days.While the price per BCH coin has dropped in the period under review, as for mining on the network, rewards received by miners from transaction fees and the block subsidy since 15 August have grown by 10%.
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