Bitcoin Cash Price Analysis: Bitcoin Cash Records 6% Downtrend in a 24 Hours

Bitcoin Cash has been hit by the slow tide once again and is recorded to be trading around $290 now. The coin even slumped to $288 yesterday but bounced back soon after. The current market performance may not seem beneficial, but it may soon change in surging trends in the next few days. The coin can record sudden rising trends by going up to $320 or above by the month-end.

BCH to USD Price Comparison

In the day, BCH coin recorded a downtrend of over 6% dipping from $315.80 yesterday to its current value at $295.35 as of August 22, 2019, at 01:51:40 UTC. The coin started yesterday on a high note but has been gradually falling since then and hit as low as $288.80. It has been able to recover since then but may continue to trade below $300 for some time.

Bitcoin Cash price chart - Aug 22
Bitcoin Cash Chart By TradingView

Current Statistics of Bitcoin Cash:

  • BCH price has reached $295.35 and 0.03004502 BTC
  • The Market Cap is noted to be $5,380,554,461
  • The 24-hour volume of the coin is $1,449,455,181
  • ROI of the coin stands at -46.19%
  • Circulating Supply is now 17,960,250 BCH

The lowest recorded BCH Value yesterday was $293.93, and it is trading above this value for now. The coin may close today on a better note trading above $300.

Bitcoin Cash Price Prediction and Conclusion:

According to BCH Predictions, Bitcoin Cash is a very good investment option if being traded from a long-term perspective. It shows that the BCH coin is on an upward movement, and the coming few days are going to be bullish. In the last 30 days, Bitcoin Cash price has gone up as much as $353.70, but it has been trading below $300 for the most part of this month. As the last week of the month approaches closer, Bitcoin Cash may bounce back to rising trends and may start trading above its 7-days high value at $326.88.

It is a slow phase for Bitcoin Cash, and hence, the best time for bulk investments is now for long-term benefits.

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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