Price Analysis

Bitcoin Cash Price Analysis: Can Bitcoin Cash (BCH) Soon Touch $500?

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Bitcoin Cash (BCH) is presently experiencing a heavy blow in the chest due to the downfall of the currency in the market. However, a sudden price surge in the market experienced yesterday and on the 15th May cannot be foreseen.

As per the latest update on Bitcoin Cash, pioneer of the US telecom market, AT&T is planning to adopt cryptocurrency as one of the payment methods via Bitpay. The news will expose Bitcoin Cash to a huge mass as At&T has a huge number of users. Therefore, we are expecting that Bitcoin Cash will soon hit a high of $500.

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BCH Price Statistics:  

Bitcoin Cash price chart - may 31

 The above chart is taken from Trading View on 31st May 2019, at 08:41:09 UTC, for price analysis of Bitcoin Cash.

•    The price of Bitcoin Cash is 423.7 USD.

•    The ROI of Bitcoin Cash is at negative 23.76%.

•    The coin is at the 4th rank in the market.

•    The market capitalization of Bitcoin Cash is noted as 7,548,799,695 USD.

•    The circulating supply of BCH is 17,811,863 BCH.

•    In the last 24hr, the volume of BCH stands at 2,681,708,794 USD.

Looking at the chart, we can see that in the month of April 2019, there was a steep uphill movement in the price of Bitcoin Cash. Since then, the coin has caught the steady momentum and has touched a high of $469. A period between May 11-17 and May 22-30 are reflecting almost similar growth. We are anticipating that the same would take place once more and shift the price of Bitcoin Cash from $423 to $500.

Bitcoin Cash Price Prediction and Comparison:

At the beginning of 2019, the price of Bitcoin Cash was $150.90, and the current price is $423.7. The increase in just five months is undoubtedly tremendous. Bitcoin Cash is popular to give a huge dividend to its inventor and hence holding its 4th position in the chart tightly.

In the coming months, the price of Bitcoin Cash can touch $500. Some analysts have even predicted that the price can move up to $600, but we are not sure that the movement in price will catch-up such momentum.

Conclusion:

The partnership news with AT&T has given hope to the investors. The price surge due to the same is expected from Bitcoin Cash. However, we also believe that the price surge could happen for a short period. Hence the short term investors can go for Bitcoin Cash.

Long term investors can diverge their investment to deteriorate the risk involved.

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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