Price Analysis

Bitcoin Cash Price Analysis: Upcoming Facebook Coin Poses Existential Threats to Bitcoin Cash

  • Facebook’s Global Coin may pose existential risks to Bitcoin Cash- experts.
  • The 2019 goal remains unchanged at $850.

As the whole crypto market is growing, many new coins are joining the race every month. No big firm wants to be left out from this growth story. The most talked about the upcoming coin is Facebook’s Global Coin. As per some experts, Facebook’s Global Coin may pose existential threats to public chains like Bitcoin Cash (BCH).  As Facebook has a vast user base, it may not struggle a lot in the market. Bitcoin Cash (BCH) has been playing safely in the market for now. It has stability and no vast price variation. We predict the medium-term of the coin to be bullish. By the end of 2019, the coin is likely to roam around 850 USD. Let us look at the current details of the coin to understand the growth pattern.

Bitcoin Cash Price Current Statistics-

Bitcoin Cash Price Chart - 12 June

Bitcoin Cash (BCH)12th June 02:47 UTC
Rank5th
Bitcoin Cash ROI-30.11%
Circulating Supply17,833,050 BCH
Market Cap6,931,725,631 USD
Value in USD392.49 USD
Value in BTC0.04945043 BTC
24h Volume1,300,068,633 USD

Bitcoin Cash Price Comparison-

The initial few months of 2019 for Bitcoin Cash (BCH) was stable with no steep rise or fall. The lowest point of the coin was on 28th January at 109.49 USD. By the mid of March, the coin started growing, and it got a whopping 151.2% hike over 25 days from the price mark of 126.73 USD. This hike includes the April boom. But later the walk could not be sustained by BCH. There was a fall in the price by almost 25% over 13 days from the price of 316.35 USD. The market cap on the 12th May was 6,329,289,442 USD, and the value of each coin was 355.47 USD. The current market cap and the value of each coin are respectively 9.51% and 10.41% more than the values of last month.

Bitcoin Cash Price Prediction-

After a temporary fall, the coin has grown moderately from the previous high as well. The medium-term is likely to be bullish for this coin. By the end of 2019, the price may stand at 850 USD.

Conclusion-

Investing in BCH will be a prudent decision, but the investment needs to be held until the 1st quarter of 2020 to get maximum profits. There may be some colossal price variations for which the investors need to be aware.

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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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