Price Analysis

Bitcoin Cash (BCH) Price Analysis: New Upgrade Can Be The Turning Point For Bitcoin Cash

  • Segwit recovery and Schnorr signatures addition are scheduled on 15th
  • The value is likely to go past $450 soon.

Bitcoin Cash (BCH) is considered as one of the fast-moving crypto coins of the current times. It updates itself with advanced technology and protocols every six months. The next upgrade is scheduled for 15th May. The full node implementation will have Bitcoin ABC 0.19.4, Bchd 0.14.2, Bitprim 0.19.0, and the Bitcoin Unlimited Cash Edition 1.6.0.0. There are two protocol features to be added on 15th – Segwit recovery and Schnorr signatures. These protocols will help recovering addresses and making crypto keys more private. The BCH coin is soon going to be traded around 450 USD. Let’s analyze the current facts to understand the growth pattern.

Current Bitcoin Cash Price Statistics –

bitcoin cash price chart

  • Bitcoin Cash is ranked at 4th position in the current global crypt market.
  • The ROI (Return on Investment) stands at negative 29.83%.
  • A total of 17,781,025 BCH coins are in current circulation.
  • The current market cap as on 14th May at 03:54 UTC stands at 6,923,073,757 USD.
  • The value of each coin stands at 389.35 USD and 0.04908626 BTC.
  • The current 24h volume at the same UTC stands at 3,880,894,996 USD.

Comparison-

Price of Bitcoin Cash (BCH) has fared a large part of the year until now with good stability. The market swelled up at the onset of April. In just 4 days, the coin gained almost 100%. Since then the value has been showing an inconsistent pattern. But recently in anticipation of next upgrades, the coin has started going up. The market cap as in 14th April was 4,931,508,058 USD. The value of the individual coin was 278.20 USD and 0.05471820 BTC. The current market cap and the value of individual coin are respectively 40.38% and 39.95% more than the figures for last month.

Bitcoin Cash Price Prediction –

As mentioned earlier, there are multiple software and protocol upgrades scheduled for 15th May. The value will surely be pushed to newer heights. The last day figure was traded around 400 USD at one point. So, we predict the coin to have one resistance at 425 USD. By the end of 2019, the value should go past the 500 USD level. It should be noted that the growth pattern will have immense price variations and investors need to be cautious about that.

Conclusion-

Looking at the price trend, it is advised to delve into the Bitcoin Cash market now. Long term holding will give huge dividends over the current investment.

Tags

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
Event Information
Event Information
Back to top button