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Price Analysis

Bitcoin Cash (BCH) Price Analysis: Bitcoin Cash is Again Dragged to Centralization Debate; Target $1000

  • Bitcoin Cash again faces criticism over Centralized hash rate.
  • The medium-term outlook is bullish, target at 1000 USD.

The biggest worry of the whole crypto world is the debate over decentralization. There are multiple coins which have been dragged to the decentralization debate in the recent time. Bitcoin cash is one of those cryptocurrencies. It has recently stopped a potential hacking after a network upgrade and implemented Schnorr Signatures for better privacy of the users. But a recent study revealed that a single entity controls 51% of Bitcoin Cash’s hash rate. The name of the entity was BTC.top. This has been a piece of news doing rounds on Reddit. But the fresh questions over decentralization have not been able to affect the market for Bitcoin Cash. The 2019 prediction of Bitcoin Cash remains at 1000 USD. Let’s now read the current statistics to understand the growth pattern better.

Current BCH Price Statistics-

Bitcoin Cash

  • Bitcoin Cash (BCH) is the 4th largest crypto coin in the global crypto market.
  • The ROI (Return on Investment) stands at negative 26.02%.
  • A total of 17,793,550 BCH coins are in current circulation.
  • The current market cap as on 21st May at 04:14 UTC stands at 7,279,220,553 USD.
  • The value of each coin stands at 409.09 USD and 0.05185663 BTC.
  • The 24h volume at the same UTC stands at 2,688,474,231 USD.

BCH Price Comparison-

The path of Bitcoin Cash (BCH) was stable until the 1st of April. At the onset of April, the market boomed for BCH. It gained almost 100% in just 4 days. The lowest point of BCH was on 29th January at 108.11 USD, and the highest point was on 16th May at 425 USD. The market cap on 21st April was 5,291,918,422 USD, and the value of each coin was 298.31 USD. The current market cap and the value of each BCH coin in USD are respectively 37.55% and 37.13% more than the figures for last month.

BCH Price Prediction-

The current value of BCH is roaming around 410 USD now. The value will find resistance at 500 USD and 550 USD. Both the medium-term and long-term outlook is bullish. We predict the coin to reach as high as 1000 USD by the end of this year.

Conclusion-

This is a good time for potential investors to dive in. Long-term target should be 1000 USD. This is one of the most promising coins as of now in the market.

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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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