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Price Analysis

Bitcoin Cash Price Analysis: BCH Reaches $310.23; Prices Likely To Fall As Per The Movement

Let us compare the price of BCH since 18-Aug-19 for better insight. BCH was priced at $308.34 at 00:00 UTC. Post the said date, the price of the coin started to show a slow and gradual rise. It reached as high as $326.93 on 19-Aug-19 at 11:40 UTC. However, it was not able to maintain its performance and started to recede downwards. It reached an all-time low of $290.48 on 21-Aug-19 at 06:00 UTC. Although the price of the coin has increased since 21-Aug-19’s fall, the present trend indicates that BCH prices may fall marginally by tomorrow. Over the past 5 days, the movement of the coin has been almost at the same pace without any sharp rise or fall as such. It may be traded today in the range of $305.24 and $314.41.

Let us look at the price analysis of BCH:

BCH Price Prediction
BCH Price Chart by TradingView

Current Figures of BCH:

  • BCH is currently ranked at number 4 as per Coinmarketcap.
  • Market Cap value of Bitcoin Cash was 5,538,949,239 USD at 08:34 UTC.
  • BCH is valued at $310.23 at 09:05 UTC time.
  • 24-hour volume figures are $1,472,355,248
  • 17,962,713 BCH coins are being traded now.
  • ROI of BCH stands at -44.55%

BCH Price Analysis and Future Predictions:

If we compare the price of BCH coin since the time, it reached an all-time high which was $326.93 on 19-Aug-19 at 11:40 UTC and the current price, the coin indicates a bearish trend by 5%.

We anticipate that the same trend may continue for BCH for tomorrow as well with the coin touching $309.8. After about a week or so, BCH may be able to get back its control on the bulls and may reach close to $311.

Conclusion:

As per the current trend of BCH, it is advisable to sell the existing coins in hand. The MACD indicator also points that the present trend of BCH is a bearish one. The number of BCH coins have been overbought as well as oversold in the past 5 days. Now the number being traded seems on the verge of being oversold. You may wish to wait for a couple of days’ post which you can go ahead and invest your money in purchasing new coins. If you are able to retain the new coins until the year 2021, BCH has all the potential to reach as high as $453 with a growth of more than 46%.

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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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