Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) Remains Stable at $430 after a Week of Struggle

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  • Bitcoin Cash (BCH) finds the way out to 430 USD.
  • The 2019 target remains unchanged around 850 USD.

In the last one week, Bitcoin Cash chart has shown some major trends of steep and unprecedented price variations which have shocked the investors. However, it was a good opportunity avenue for short-term traders and speculators. The coin was roaming around 380 USD before 5 days, and in the span of just 4 days, the coin got back to as high as 440 USD. This gradual growth could not be sustained. Even in the last 24 hours, the coin has once touched the 440 USD mark only to fall miserably to 421 USD. However, the final price now has been settled at 430 USD. The four major instances of price variations in the last 1 day have given ample amount of opportunities for the intraday traders to capitalize on it and make profits. The medium-term outlook of Bitcoin Cash (BCH) is bullish. The target price should remain around 850 USD. Let us look at the current details of the coin.

Statistics From Bitcoin Cash Price Chart –

Bitcoin Cash Price Chart- 17 June

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Bitcoin Cash 17th June 02:05 UTC
Rank 5th
ROI (Return on Investment) -22.59%
Coin Circulation 17,842,075 BCH
Market Cap 7,691,094,292 USD
Value in USD 430.37 USD
Value in BTC 0.04721521 BTC
24h Volume 1,897,530,728 USD

BCH to USD Price Comparison-

The starting point of the year for Bitcoin Cash (BCH) was at a very moderate level. From 06th January to 23rd February, the coin made no real growth but went through a volatile phase which demotivated many traders. The lowest point of the coin also falls in that period when the coin was at 108.82 USD. However, the April market boom helped the coin to get the first break. In just 12 days it gained 101.63% to reach above 300 USD price. But the growth faces a fall back of around 25% in the next 13 days. But the onset of May also brought huge growth for the coin. It went up to 400 USD after gaining 70.88% over 16 days. The market cap of Bitcoin Cash (BCH) on 17th May was 6,255,634,714 USD, and the value of each coin was 366.74 USD. The current market cap and the value of each coin are 22.94% and 17.35% more than the figures for the last month.

Bitcoin Cash Price Prediction-

The medium-term, as well as the short-term outlook, is bullish for Bitcoin Cash (BCH). By the end of 2019, the value may get around 850 USD.

Conclusion-

Buying fresh coin is advised if the target is a long-term holding. Short-term traders need to play safe as the coin is a volatile state now.

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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