Bitcoin Cash (BCH) Price Analysis: Lost the Naming Battle Against Bitcoin SV, Still Bullish in Long Term

eToro
  • Currently trading at 288.17 USD, with a negative ROI of 48.16%.
  • Lost the battle regarding the naming against Bitcoin SV.

Bitcoin Cash (BCH) is a hard fork of Bitcoin that mainly aims at a faster speed of the transaction. It was launched to maintain the core value of Bitcoin, i.e., complete decentralization and anonymity of transaction.

Analysis:

Bitcoin cash

eToro Crypto
  • As per CoinMarketCap, in cryptocurrency ranking Bitcoin Cash (BCH) is at 4th
  • On May 09, at UTC 07:44, total Market Cap of the crypto was 5,094,355,621 USD
  • At the same time, the 24-Hour volume was 1,378,924,908 USD, with a total of 17,772,263 BCH chips in circulation.
  • Against Bitcoin, the crypto was valued at 0.04693938 BTC peer chip.
  • Against its 25-day’s back value, which was 279.47 USD on April 13, it strengthens by 3.11%.

Comparison:

  • All-Time High: 4,355.62 USD (Dec 20, 2017)
  • All Time Low: 08 USD (Dec 15, 2018)
  • Yesterday’s High / Low: 26 USD / 276.66 USD
  • Yesterday’s Open / Close: 55 USD / 286.30 USD
  • Yesterday’s Change: -0.252138 USD (-0.09%)
  • Yesterday’s Volume: 1,423,796,801 USD

Bitcoin Cash (BCH) Price Prediction:

According to Roger Ver, the Bitcoin.com CEO, “Looking at the long-term, the future is brighter than ever; there is more adoption, there is more awareness, and there is more stuff happening across the globe.” Not to forget that Bitcoin Cash is working to increase the memory of blockchain up to 32 MB. As per market experts, the short and medium term is slightly bearish; however, it is speculated to hit the 500 USD mark by the end of the year.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button