Bitcoin Cash is a blockchain based currency introduced in the market in 2017 as a hard fork of Bitcoin. This peer to peer digital currency enables convenient, hassle-free transactions and is taking the Bitcoin vision forward. BCH or Bitcoin Cash allows users to transfer a small amount of money by paying a nominal fee in a secured and faster environment. Since its inception, the coin has already been adopted by major merchants & businesses to process their microtransactions through a reliable network. The innovative currency was launched to support Bitcoin and claims to have over 478558 owners of the Bitcoin Cash block. The community is growing with each passing day and solidifying BCH’s position in the market.
As on May 03, 2019 at 10:19:01 UTC, the market cap of BCH is reported as 4,860,458,776 USD, the price is trading at 273.66 USD & 0.04892373 BTC and 24h volume is 1,610,962,950 USD. The ROI of Bitcoin Cash is currently at -50.88%, the circulating supply is equivalent to the total supply and is recorded as 17,761,238 BCH. The maximum supply of the coin has been 21,000,000 BCH. According to the CoinMarketCap, Bitcoin Cash is at the 4th position in the top 100 cryptocurrencies list.
The highest price of BCH peaked to 332.28 USD in the past 30 days and to 280.16 USD in the past 7 days. The lowest price in the past 7 days has been 232.91 USD, and the same pattern was observed in the past one month as well. The downtrend of over -5% has been observed in the last one month with the market cap at 5,134,401,422 USD, the price at 289.90 USD & 0.05854422 BTC and 24 h volume at 2,682,536,204 USD as on April 05, 2019 at 06:49:03 UTC.
Bitcoin Cash is growing exponentially in adoption and usability. And this will put an end to the downward trend very soon. Last year, the company had partnered with Microsoft Corporation to promote BCH trading & investment. At the beginning of the year 2019, BCH partnered with the Japanese giant Alliance Cargo Direct. Recently, in March, the company (Bitcoin.com) also partnered with Jeju Blockchain Smartcity Association to promote BCH. The collaboration is a step towards promoting the adoption of BCH by local startups in Korea and nearby areas & then later it takes to the global markets. Additionally, Avnet, a leading tech company has partnered with BitPay to accept Bitcoin and Bitcoin Cash as a suitable form of payments and promote blockchain technology. By the end of 2019 as the crypto market revives, the price of the coin can reach as high as USD 500. It has all elements to sustain the fluctuating waves of the crypto market and can be predicted to cross USD 1000 in the next 2 years.