Bitcoin Cash price prediction as Chancer presale hits new record

Key takeaways

• Bitcoin Cash could experience further pullback after its recent rally.

• Chancer’s presale surpasses $600k roughly a month after launch. 

Bitcoin Cash was the best-performing coin amongst the top 100 cryptocurrencies by market cap over the past 30 days. After rallying by more than 200%, Bitcoin Cash has slightly retraced.

Will Bitcoin Cash resume its upward trajectory soon, or will it shed off some of its gains in the near term? 

Bitcoin Cash rallies by more than 200% in 30 days

Bitcoin Cash was the best performer amongst the top 100 cryptocurrencies by market cap in recent weeks. BCH was trading around $110 at the start of June but rallied to the $320 mark by the end of last month.

Since reaching $320, Bitcoin has slightly retraced, losing more than 10% of its value during that period. At press time, the price of Bitcoin Cash stands at $283 per coin. 

Technical indicators show that Bitcoin Cash could embark on a bearish run in the near term. BCH could retreat after hitting the extreme greed zone.

The pullback could see Bitcoin Cash test the next key support at $210, which is the 25-day moving average. However, Bitcoin Cash could continue its upward trajectory if Bitcoin and the broader cryptocurrency market maintain upward momentum in the near term.

What is Chancer?

One of the projects that could record excellent adoption in the cryptocurrency space is Chancer. Chancer is a unique Web3 peer-to-peer (P2P) custom betting platform designed to enable users to live stream betting events. 

Chancer operates differently from the other betting platforms due to its decentralised nature. It allows users to bet on numerous events, beyond the sporting and popular ones. 

Chancer is currently in its presale stage, and the developers have earmarked the funds to build a P2P betting platform. The platform would allow users to enjoy betting markets in real time and based on user interests, social media connections, and expertise. 

According to their whitepaper, Chancer seeks to eliminate the challenges users experience due to bookmakers. With Chancer, users can set their own custom P2P betting markets using its decentralised platform. 

One of the most important features of Chancer is that it supports betting far beyond the sporting and popular events users find on centralised betting platforms. 

In addition to traditional sport betting activities, users can bet on any event they desire, whether mainstream or made-up. It doesn’t matter the event, users can bet on them on Chancer. 

Chancer’s presale surpasses $600k

Chancer will hold 12 presale events, and the first one is coming to an end soon. The Chancer team has raised more than $600k so far, reaching more than 60% of the target.

Chancer will use the funds to develop its suite of products. By the end of the 12 presale events, Chancer intends to raise $15 million in total. 

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