Price Analysis

Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) Averted 51% Attack by Unknown Miner

eToro
  • Bitcoin cash (BCH) recently averted a 51% attack by some unknown miner.
  • The bullish medium-term outlook places the target at 850 USD.

As the whole cryptocurrency industry is reeling under the pressure of coin theft and centralization, Bitcoin cash (BCH) had recently faced a similar situation when a 51 percent attack was made to reverse transactions made by other miners. As per the reports of the coin, the attacker took advantage of a bug which was there for some time now. But it has been patched. It should be noted that the 51% attack refers to gaining access to more than half of the hash rate. This access will enable the attackers to do such thing which was conventionally out of their reach.  But this attack could not impact the market of Bitcoin Cash (BCH) immensely, and the coin is doing fine currently. As per our prediction, the value of each Bitcoin Cash (BCH) is likely to be traded around 850 USD by the end of this year. We should now analyze the current figures of this coin.

Bitcoin Cash Price Current Statistics-

bitcoin cash price chart - june 3

eToro Crypto

Bitcoin Cash (BCH)

03rd July 10:08 UTC
Rank

4

ROI (Return on Investment)

-22.61%
Circulation

17,817,363 BCH

Market Cap

7,921,024,407 USD
BCH Price in USD

433.96 USD

Bitcoin Cash Price in BTC

0.05124371 BTC
24h Volume

1,695,945,977 USD

BCH Price Comparison-

The market trend of Bitcoin (BCH) is full of ups and downs since the starting of the year. The lowest point of the coin was recorded on 29th January at 109.67 USD. The highest growth phase for BCH started from the mid of 13th March. Over just 21 days the coin gained around 135.57%. The market cap on 03rd May was 5,250,556,254 USD, and the value of each coin was 278.34 USD. The current market cap and the value of each coin are respectively 50.86% and 55.91% more than the figures for last month.

Bitcoin Cash Price Prediction-

As per our prediction, Bitcoin Cash (BCH) will have a bullish period in the near future. Bitcoin Cash (BCH) will face resistance at 500 USD and 550 USD. By the end of 2019, the coin is likely to be trading around 850 USD. It should be noted that the coin will have enough volatility in this period. Check out our price pages and know about the latest Bitcoin Cash Price Today.

Conclusion-

Buying fresh coins is advised at this low price. The coin’s upsurge in the market will give at least 80% of its current value if it is held for a longer-term.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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