Price Analysis

Bitcoin Cash (BCH) Price Analysis: Bitcoin Cash To Steep Much Higher This Year

eToro

Forked from Bitcoin in August 2018, it is the 4th largest cryptocurrency in the world. It was actually created for overcoming two challenges of Bitcoin- Scalability and Transaction Fee. BCH can make numerous transactions per second compared to BTC, and its transaction fee is approx. $0.125 compared to BTC which is approx. $1.31. BCH is much more lucrative to the miners, so in future miners can be attracted towards BCH than BTC. The coin just after getting launched started taking steep highs. It was launched with a value of $250/coin, but, the next day, it went up to $651/coin.

Current status of BCH

BCH is currently getting traded at USD 294.01 (UTC time 03:52). It is currently on a bullish trend by 13.84%. With a market cap of USD 5,206,785,896 and a circulating supply of 17,709,388 BCH, it is the 4th largest cryptocurrency in the world.

eToro Crypto

Price analysis of BCH with the help of BCH charts

Bitcoin cashThe above chart shows that BCH is currently getting traded at 293.97 USD or 0.05884245 BTC (UTC time 03:55). Its present market cap is worth of 5,206,069, 498 USD with a 24h volume of 3,959,228,575 USD. The same chart shows that approx. One month earlier, BCH had a trading value of 128.53 USD. So, within this one month, the value of BCH has spiked up by 128.71%.

Future price analysis of BCH

A few months back, BCH Hard Fork occurred, and since BCH ABC won the harsh run, these two actually are combined together to develop a single entity. Very recently, a new tool has been developed by blockchain.com, especially for crypto enthusiasts. It provided a better understanding of the intricacies of their digital currency. They launched a BCH explorer which benefits people search for transaction addresses, hashes, and blocks on BCH blockchain. The next major hard fork is going to occur in May 2019, and it has already paved huge expectations to the crypto communities.

Keeping all these in mind, Trading Beasts think that BCH can spike up further this year and it can trade around $2703.17 by 2019 end. They predicted that in 2020, it could spike up as high as $5,635.44 and the lowest value possible in 2020, is $3832.10.  According to Roger Ver, popularly known as Bitcoin Jesus, BCH’s value can double up over its current price within a year. Smartereum believes that BCH can be as high as $6700 in less than a year and after five years, it can trade around $24,600. US lifted assumed that BCH can steep to a level of $707 by 2019 end and in 5years, it can be around $3,067.

Conclusion

BCH is a very promising cryptocurrency whose value in spite of the great volatility is towards a bullish trend. It can be considered as a good option for long term investment.

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.

Related Articles

Back to top button