Price Analysis

Bitcoin Cash Price Analysis: Bitcoin Cash (BCH) Hit $480 Again And Open New Horizons

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    • Bitcoin Cash (BCH) bull rally can hit $480 again and open new horizons.
    • BCH/USD reflects a bullish trend ahead.

Bitcoin Cash (BCH) is popular for remaining a price bound. The breakout on 30th May 2019, pushed BCH around $470. Apparently, due to the less buying power, the bulls couldn’t hold on for longer and broke to $422.

The sudden pick and drop affected the intraday investors, but for long term or even short term investors, it wasn’t a big problem. After falling to $422, the price again picked up on 1st June 2019 and is on the track of recovery.

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Have a look at the chart for the last five days.

BCH Price Analysis :

The chart is taken from Trading View on 1st June 2019, at 11:00:44 UTC for price analysis.

 Bitcoin Cash price chart - june 1

      • The coin is the fourth largest coin in the crypto market.
      • Bitcoin Cash is at 441. 5 USD.
      • The return on investment stands negative at 20.42%.
      • The market cap is at 7,880,012,246 USD.
      • The 24-hour volume of Bitcoin Cash is at 2,028,207,853 USD.
      • 17,813,850 BCH is the circulating supply.
      • In the last 90 days, BCH touched a high at 478.53 USD and a low at 123.25 USD.

The charts are indicating a resistance level at $480. On 27th May 2019, there was a hike and drop in the price of BCH from $455 to $426, which was around 7%. A pick and drop of prick again happen between 30th and 31st May. This time the price dropped from $480 to $440 and the regression was marked as 9%.

Bitcoin Cash Value Comparison:

If we compare the price of Bitcoin Cash (BCH) from the beginning of the year 2019, which was $152.94 with today’s price at 11:20:41 UTC, which is $443.91. The Bitcoin Cash Value has almost tripled itself.

Talking about last month’s growth in Bitcoin Cash (BCH), the price on 6th May was at $286.54 and comparing it with today’s worth which is $443.91, then there the increase is observed by 55%.

Bitcoin Cash Price Prediction and Conclusion:

After reading the charts, we have reached to the conclusion that Bitcoin Cash (BCH) can cross $500 by the end of 2019. However, there are some predictions about $600 too, but we consider it far-fetched.

The upcoming ventures of Bitcoin Cash (BCH) are quite promising. Hence, the long term investment can take a deep dip to come out with a handful of dividends.

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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