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Price Analysis

Bitcoin Cash Price Analysis: BCH Price May Continue To Rise Further; Next Target Remains $330?

BCH was trading at $315.11 on 26-July-19 at 07:30 UTC. Post that; there was a drop in the price of the coin by 7% with BCH touching $291.51 on 28-July-19 at 23:30 UTC. Since the end of the previous month, the coin has seemed to gain back its pace and slowly started to rise upwards. Despite the falls in between the end of July and the first week of August, Bitcoin Cash still managed to reach as high as $355.16 on 14-Aug-19. It could not maintain its performance at such a high level, and with a couple of sharp falls, the price fell to the lowest of the said time period, trading at $283.29 on 15-Aug-19. Since the fall, the coin has bounced back really well and at the moment is reflecting an upward trend with BCH trading at $312.43.

Current Figures of BCH:

  • Bitcoin Cash is ranked at 4th position in the crypto market.
  • Market Cap value of Bitcoin Cash was 5,611,647,496 at 07:09 UTC.
  • The price of Bitcoin Cash coin is $312.43 at 07:18 UTC.
  • 24-hour volume figure is $1,366,972,511
  • 17,968,088 BCH coins are being circulated as on 26-Aug-19.
  • BCH offers a Return on Investment of -43.72%.

BCH to USD Price Comparison:

BCH Price Prediction
BCH Price Chart by TradingView

BCH Price Analysis and Future Predictions:

By comparing the price of BCH coin from its lowest value which was $283.29 on 15-Aug-19 at 05:00 UTC and the current trading price, BCH indicates a bullish trend by 10%. The CMF indicator also reflects that the Bitcoin Cash price is indicating an upward trend. The 7-day high price of the coin $326.88 points the next target of BCH towards $330.

Conclusion:

We recommend selling the existing BCH coins in hand as per the trend noticed today. Trading in the BCH for a long term will yield great returns and dividends.

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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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