Price Analysis

Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) Rushing to Reach YTD-High; Target Remains at $850

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  • Bitcoin Cash has made quite a journey from $397 to $408 in the last 24 hours.
  • The 2019 target remains at $850.

Bitcoin Cash (BCH) is surely going to give good times to its investors. After so much of a struggle since April, the coin’s value has finally touched 400 USD mark. It has not only touched but gone beyond that price level. On the intraday chart, the coin touched its 1-day highest value at 425 USD. But that was again for a short period. It suddenly fell down and currently roaming around 407 USD to 408 USD level. But it is not likely to take much time before getting to its YTD-high level. Yesterday at around 20:20 UTC the coin gained 5% in just a few minutes. It might have given a shock to the intraday traders, but this is the only force which pushed the coin beyond 400 USD mark. The year ending may see the price of around 850 USD. Let us now analyze the current details of the coin.

Bitcoin Cash Current Statistics-

bitcoin Cash Price Chart - 14 June

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Bitcoin Cash (BCH) 14th June 01:53 UTC
Rank 5th
Bitcoin Cash ROI -26.76%
Circulating Supply 17,836,600 BCH
Market Cap 7,323,727,077 USD
Value in USD 406.91 USD
Value in BTC 0.05005080 BTC
24h Volume 1,995,153,185 USD

Bitcoin Cash Price Comparison-

Bitcoin Cash (BCH) has fared with stability for the initial three months of 2019. The lowest point of the coin of this year was on the 29th of January when the coin got its value around 108 USD.  However, by the end of March, the coin started showing strength. If we compare the growth from March to April, we will find a hike of 159.66% in just 34 days from the price of 122.08 USD.  But the coin couldn’t sustain the value and fell back for few days constantly. And again by the end of April, the coin gained momentum and reached 400 USD in just 16 days growing 71.56%. The market cap on 15th May was 6,743,929,812 USD, and the value of each coin was 400.55 USD. The current market cap and the value of each coin are respectively 8.59% and 1.58% more than the values of the last month.

Bitcoin Cash Price Prediction-

As the fundamentals are strong, the coin will have an extreme bullish period in the near future. By the end of this year, the coin may touch the 850 USD target price.

Conclusion-

It is a good time to buy fresh coins. But existing holders need to hold their coin at least until the end of this year for gaining good profits.

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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