The impact and analysis of Bitcoin Cash (BCH)
Every few days and weeks we add new features, currencies and create more tools for our users. Today we added Bitcoin Cash (BCC or BCH) into our systems. In what follows I will present a brief analysis and discussion of this cryptocurrency.
Bitcoin Cash usually abbreviated by BCH and previously known as BCC, is one of the largest and most traded cryptocurrencies in the world (by volume). Due to the BitConnect ponzi scandal the market decided to abbreviate it as BCH instead of BCC, but many exchanges still use the original notation.
Price predictions
The integration with our artificially intelligent (A.I.) prediction system was successful. BCH caused no problems and the forecasting works flawlessly.
Trade signals
Since our trading algorithms are general purpose they should work with many existing cryptocurrencies, so without adding any new algorithms we simply plugged BCH into the system. We did not except this, but BCH dominates and outperforms many of our other cryptocurrencies (BTC, ETH and LTC) by returns (ROI). On the image below I’ve indicated (green rectangles) all new BCC-USDT entries so you can compare them against the existing ones.
Let us dive a bit deeper and analyze the individual buy & sell signals. I won’t be going over every single entry, so let us only look at the best and worst performing ones.
The best performing algorithm for BCC-USDT is Pistis 1.0 using 30-min candlestick intervals:
While the lowest performing one is Voltra 1.0 using 30-min intervals:
As mentioned in my previous post(s); the least performing algorithms are only measured by ROI, but this does not mean they are useless or worthless. The major difference between all these algorithms/strategies lies in their “sell” heuristic. To illustrate that the “Voltra 1.0" is a decent algorithm but just needs some tweaking, have a look at the screenshot below. I zoomed-in to a randomly chosen region so we can better analyze the buy & sell signals.
We see that most of its “buy” positions are very decent, usually located in a valley. But the timing and position of the “sell” signals is mediocre at best, that’s why the ROI is negative.
Some of our traders may find the Voltra algorithm more useful than the other ones, in particular for its decent “buy” positions. But keep in mind that you shouldn’t rely on the “sell” signal but decide for yourself when to exit.
Conclusion
If you’re not trading Bitcoin Cash, maybe this is a call to get started. Either way, I thank you for all your support and feedback. Make sure to subscribe if you wish to stay tuned for the next episode. And if you like our work then try out CryptoPredicted for free — you’ll find the link in our profile description.
Have a great day!
- Ilya Nevolin
