Price Analysis

Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) is Growing; May Face Resistance at $430

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  • Bitcoin Cash (BCH) in the last 24 hours has shown two price variations as big as 6%.
  • The price target remains at 800 USD.

Bitcoin Cash has proved its worth time and again. In the last 24 hours, the coin has managed to show an overall growth and shown two major price variations as well. The first variation happened around 03:45 UTC and the coin lost almost 3.2% over 7 hours 25 minutes. Soon after this dip, the coin managed to show a tremendous growth of 6%, which happened over the next 15 hours and 28 minutes. This final push has enabled the coin to go beyond 420 USD mark. The coin has a bullish medium-term outlook. It is likely to be profitable both for long-term traders and intraday traders. Let us analyze the current details of the coin.

BCH Price Statistics-

Bitcoin Cash Price Chart - 21 June
Bitcoin Cash Chart
Bitcoin Cash 21st June 03:55 UTC
Rank 5th
ROI (Return on Investment) -23.68%
Coin Circulation 17,849,075 BCH
Market Cap 7,573,870,761 USD
Value in USD 423.16 USD
Value in BTC 0.04361208 BTC
24h Volume 1,476,151,474 USD

BCH to USD Price Comparison-

The initial period of 2019 was not very profitable for BCH. The first growth was noticed at the onset of April when the coin gained 96.58% over 12 days. However, the coin soon lost its value by 23.38% in the next 22 days. Another major growth was noticed between 10th May and 21st May. This period experienced a 45% growth in the price of BCH. The market cap of BCH on 21st May was 7,404,873,306 USD, and the value of each coin was 414.47 USD. The current market cap and the value of each coin are respectively 2.28% and 2.09% more than the figures for the last month.

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Bitcoin Cash Price Prediction-

As mentioned earlier, the coin is likely to have a bullish medium-term. The value is likely to grow and reach 800 USD by the end of this year. The short-term outlook is also bullish but with many price variations. The resistance levels are 418.4 USD, 423.24 USD, and 429.16 USD. The support levels are 407.64 USD, 401.72 USD, and 396.88 USD. For Bitcoin Cash Price Live, you can check on our BCH price page.

Conclusion-

Long-term holding will be profitable for the traders. It is likely to give higher returns over the current investment value if the holding is until this year’s end.

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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