Price Analysis

Bitcoin Cash Price Analysis: ECB Suggests BCH As One of The Most Important Coins

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  • Bitcoin Cash Gets Mentioned in the European Central Bank May 2019 Reports
  • By the end of 2019, the coin may reach $800 – $850.

The whole cryptocurrency industry aims to give a substitute for the existing financial system to the world. A substitute, which will be completely decentralized and the user will have complete control over it. Aiming towards this goal, many cryptocurrencies are making numbers of associations and partnerships over time. Recently, the European Central Bank released a report stating the importance of Bitcoin Cash (BCH) along with other major cryptocurrencies. The report states,

“Bitcoin continues to lead the pack of crypto-assets in terms of market capitalization, user base, and popularity. There exist around 1,900 crypto-assets, up from 7 in April 2013. Next to Bitcoin, Ether, Ripple, Bitcoin Cash are considered the most important in terms of usage, market capitalization, or business model diversity.”

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This is definitely a good sign for the goodwill of the coin. By the end of 2019, this bullish trend may place the coin at 800 USD – 850 USD price level. Let us look at the current figures of the coin.

Bitcoin Cash Price Chart by TradingView-

Bitcoin Cash Price Chart - 6 June

Bitcoin Cash Current Statistics-

Bitcoin Cash (BCH) 06th June 04:23 UTC
Rank 4th
ROI (Return On Investment) -27.90%
Coin Circulation 17,822,438 BCH
Market Cap 7,063,633,738 USD
Bitcoin Cash Price in USD 398.58 USD
BCH Value in BTC 0.05088507 BTC
24h Volume 2,625,224,846 USD

BCH Price Comparison-

Bitcoin Cash (BCH) started the year with a fall of 34.03% on 2nd January till 29th January. Since then, until the last week of March, the coin could not give any signs of growth. On 26th March it started growing and stopped on 03rd April after gaining 90.78%. The Market Cap on 06th May was 5,065,581,889 USD, and the value of each coin was 285.78 USD. The current market cap and the value of each coin are respectively 39.44% and 39.47% more than the figures for last month.

Bitcoin Cash Price Prediction-

Bitcoin Cash (BCH) is likely to have a bullish medium-term, thanks to the strong fundamentals. By the end of 2019, the coin may register a huge growth and place itself around 800 USD to 850 USD price level.

Conclusion-

Buying fresh coins is advised, but the holding needs to be at least until the 1st quarter of 2020. The existing holders need to be cautious of the resistance points and sudden changes in the price.

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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