Price Analysis

Bitcoin Cash Price Analysis: BCH’s YTD Performance Is Exceptional, Will It Maintain Its Efficiency?

Let us compare the price of the coin since the beginning of the year until now. BCH was valued around $169.8 on 3-Jan-19. The coin was moving at almost the same pace since January till the end of March,19 with the trend being bearish.

On 1-Apr-19 due to a sharp rise in the price, BCH reached $299.6. The price of the coin has shown an upward trend since 10-May-19 with the price reaching the highest value of $484.7 on 26-June-19. BCH could not maintain its performance at this level, and the price started to decline. However, at the time of penning down, BCH seemed to be somewhat stable and indicating an upward movement.

Let us look at the price analysis of BCH:

Bitcoin cash Price Chart
Bitcoin Cash Price Chart by TradingView

Current Figures of BCH:

  • BCH is currently ranked at 4th position in the crypto market.
  • Market value of Bitcoin Cash was 5,733,805,755 USD.
  • BCH price is $320.1 at 09:51 UTC time.
  • 24-hour volume figures are $1,245,211,186
  • 17,939,263 BCH coins are being traded now.
  • ROI of BCH stands at -42.55%.

BCH Price Analysis and Future Predictions:

If we compare the price of the coin since the beginning of the year which was $169.8 and the present price, BCH indicates an upward trend by 89% which is a massive growth in the past 7 months. The Chaikin Money Flow indicator also seconds that the trend for BCH is bullish.

With such a great momentum until now, BCH is expected to trade around $550 by the end of the year.

Conclusion:

BCH movement indicates that this seems to be a good time to go short and earn a profit. After a couple of days, one can also go along with their investments. As per the YTD movement of the coin, investing in the coin from a long-term perspective shall offer very good 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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