Bitcoin Cash Price Analysis: BCH Continues To Fall And Reaches $319.09, Needs To Bounce Back Fast
BCH was valued at $338.41 on 4-Aug-19 at 03:40 UTC. Post this date, it has shown a gradual upward trend, and the coin managed to reach $355 on 5-Aug-19 and 6-Aug-19. However, it has not been able to maintain its performance standards and has started to decline ever since. It fell to $329.33 on 6-Aug-19 at 21:40 UTC and prices of the coin are continuing to fall even further.
Current Statistics of BCH:
- BCH has maintained its rank on the 4th position in the crypto market.
- Market value of Bitcoin Cash was 5,800,707,372 USD.
- The current Bitcoin Cash price is $319.37 at 10:09 UTC time.
- 24-hour volume figures are$1,239,971,261.
- 17,937,563 BCH coins are being traded now.
- ROI of BCH stands at -41.95%.
BCH performance over the past 5 days is as below:
BCH Price Analysis and FuturePrediction:
Comparing the price of BCH since 6-Aug-19 at 10:10 UTC, when the coin has reached a price height of $355.46 with the current price, BCH reflects a downward trend by 10%.
According to future of Bitcoin Cash, it is a good time to invest in Bitcoin Cash now and save for future benefits. BCH for the short term might not be as fruitful as the long term for the investors. With this, the coin is expected to trade around $550 by the end of the year.
The Chaikin Money Flow indicator also points out a bearish outlook at present with the current price trend.
Conclusion:
As per the current trend of BCH, the investors can go along with their investments in the coin. If the investments are retained for a long-term, the coin is anticipated to payout in huge numbers. However, the current market scenario for BCH is totally dominated by the bears. After 6-Aug-19, it has really not been able to bounce back well, having said that the coin has huge potential and will definitely come back in the game very soon.
