Price Analysis

Bitcoin Cash Price Analysis: BCH Might Touch Down $850 By The End Of 2019

Bitcoin cash is now available as a mode of payment with Home Depot and Walmart via Alagoria. Bitcoin cash is changing the entire system of buying from large retailers.

Now you will need not just mere money to buy from these stores, but all you will need is decentralized currencies to pay for your products. So let’s understand if such bulletin affects the value and supply of Bitcoin cash.

Price Analysis From Bitcoin Cash Price Chart:

While writing this content, the value of BCH is trading $427.62 at 3:53 UTC time on 16th June 2019. The Return on Investment on BCH is -23.37% ranking the coin at number 5 in the market. The market cap value is 7,599,549,975 USD with a circulating supply of 17,840,425 BCH. The 24-hour volume of BCH is calculated at 1,550,849,549 USD.

The 7 Day High/Low in this month is 427.91 USD / 413.15 USD.

Bitcoin Cash Price Comparison:

Bitcoin cash Price Chart - 16 June

In the past 30 days, if you were following the trend, you must have noticed that in the last 2 days, the price is rising upward. The lowest in 30 days was realized on 17th May with the value trading at $324.41. The value now has increased by 24.8% which is surely a relief for the traders.

The highest was seen on 30th May with value trading at $474.39. The value has dropped by 9.8%. However, it might be bothering those traders who bought the coin at the highest point. But the market seems to surge above the baseline. Just a little bit of patience is what you need!

Bitcoin cash Price Chart - 16 June

In this month, the ten days that were becoming a concern was between 3rd and 13th. The value was fluctuating below the baseline inking in red figures. But, it was no surprise that the coin overcame the dark days, and now moving to a better side.

Bitcoin Cash Price Prediction & Conclusion:

For users keeping an eye on the trend and wish to trade in Bitcoin cash, you might want to consider resistance support between $396.570 and $434.708. BCH seems to provide a solid foundation where retailers and many business types are ready to rely on.

The coin might touch down $850 by the end of 2019. However, bidding on such a number might be risky right now and that’s why, it is advised to play under the safer zone.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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