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Price Analysis

Bitcoin Cash (BCH) Price Analysis: Bitcoin Cash Is On-A-Roll; Entices Merchants And Users Alike

Bitcoin Cash is a decentralized, peer-to-peer Cryptocurrency which sprouted from Bitcoin in August 2017. Bitcoin Cash offers better scalability and faster transactions following the ideology with which Bitcoin was launched initially in 2008. The electronic peer-to-peer cash platform can be used to send small or even large amount of cash 24*7*365 to anyone located anywhere in the world. The growing popularity and acceptability of the BCH have made it tackle other competitors effectively and climb up the crypto ladder.

Current Statistics:

Bitcoin CashIt has been a constant upswing for BCH owing to its reliability among the users and corporates. In a shorter span of time, it has secured 4th position in the top 100 cryptocurrencies list by the CoinMarketCap and is taking giant strides to beat the competition ETH (Ethereum) and XRP (Ripple) to further its position in the global crypto-market.  As for the numbers, on Wednesday, April 17, 2019, at 07:34:01 UTC, BCH’s market capital is recorded at USD 5,605,051,318, ROI stands at -43.38% and total coin circulation reached 17,733,038 BCH. The 24 h volume is USD 1,629,905,122 and the value of each coin in terms of USD and BTC are 316.09 USD and 0.06053743 BTC. The market cap has increased by over $500 million as the coin moved past Litecoin and is now trailing Ripple (XRP) with a minimal margin difference.

Comparison:

The crypto has been showing an upward trend, and the price has increased by over 93.3 % in the past one month. It also crossed the USD 300 resistance level and recorded an all-time high on April 04, 2019 at 01:19:02 UTC trading at USD 331.31. The prices have fallen slightly since then but are expected to rise again owing to recent developments & announcements.  The overall sentiment is positive for the 8MB block size BCH, and it is certainly performing well in multiple areas than the elder brother.

Prediction:

With faster transaction time & lesser fees per transaction, Bitcoin Cash is certainly here to stay. It has slowly started finding its ground after being volatile for quite a long time, and the prospects look even better in the days to come. More and more merchants & users are now showing trust on the crypto. The recent alliance of Corporate Traveller with BitPay allows users to pay through Bitcoin Cash or Bitcoin directly with only 1% transaction fee. Furthermore, Bitcoin Cash has also been integrated on Singapore exchange Huobi’s derivative market as well. Many stores, VPNs, travel agencies, B2B services providers and others have started accepting BCH as a payment option. This further solidifies the crypto’s position in the market. From a 5-year perspective, the price may shoot up to a USD 10,000 according to market analysts and crypto-community members. So, it is advised to invest in BCH now for those looking for long-term investments & improved returns.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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