Price Analysis

Bitcoin Cash (BCH) Price Analysis: Bitcoin Cash Releases New Plugin; 2019 Target Price is $1000

  • Bitcoin Cash (BCH) announced the launch of a new plugin called the Interwallet Transfer.
  • The medium-term outlook is bullish; target price remains at $1000.

It is an unsaid rule in the crypto world that the higher the number of associations ultimately leads to good growth in the market. In consonance with the market leaders, Bitcoin cash (BCH) is also not losing the plot. An engineer at Bitcoin Cash (BCH) recently announced the launch of a new plugin called the Interwallet Transfer. This new tool will work with existing Electron Cash (EC) wallet. It would allow users to transfer funds without disclosing identity. The Electron Cash Cashshuffle implementation has been very successful, bringing fungibility to Bitcoin Cash (BCH). These developments are expected to bring a bullish period in the future. We predict the coin to reach 1000 USD by the end of 2019. We should now analyze the current figures of Bitcoin Cash (BCH).

Current BCH Price Statistics-

Bitcoin Cash

  • Bitcoin cash (BCH) is the 4th largest coin in the global market.
  • The ROI (Return on Investment) stands at negative 29.75%.
  • A total of 17,797,200 BCH coins are in current circulation.
  • The market cap as on 23rd May at 04:58 UTC stands at 6,959,843,211 USD.
  • The value of each coin stands at 390 USD and 0.05115190 BTC.
  • The 24h volume at the same UTC stands at 2,525,195,559 USD.

BCH Price Comparison-

Bitcoin Cash (BCH) has managed to maintain a stable pace since the starting of the year until the onset of April. The lowest point of the coin was on 29th January at 108.84 USD. The highest point was achieved recently at 420.23 USD. The onset of April brought a huge gain for Bitcoin Cash (BCH). In just 2 days, the coin gained 80.83%. Similar 74.19% growth was during the last week of April and 1st week of May. The market cap on 23rd April was 5,427,023,346 USD, and the value of each coin was 286.36 USD. The current market cap and the value of each BCH in USD are respectively 28.24% and 36.19% more than the figures for last month.

BCH Price Prediction-

Looking at the trend, it is easy to predict a bullish period for BCH. The coin will have a bullish period in the short-term. The next resistance will be there at 420 USD and 450 USD. By the end of 2019, the coin should be there around 1000 USD.

Conclusion-

This is a good time for buying fresh coins. Holding for a long term will give at least 3 times of the current investment.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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