Monday, October 21, 2019

BCH manages to bounce back; price stabilizes at $319.3

With the way BCH moved towards the end of the last month, it had all the potential to breach the all-time high figure and attain newer heights. It had touched $514.3 on 26-June-19 at 20:00 UTC. Post the two major falls, the price of the coin was moving towards the same pattern from 27-June-19 till 10-July-19 with prices almost being constant. However, prices fell again to $318.1 on 11-July-19 and again on 15-July-19 reaching as low as $272.6. Post 15-July-19, BCH has managed to turn around the scenario and ever since has started rising upwards barring the few minor falls. We anticipate that BCH will manage to show an uptrend gradually by tomorrow.

If we compare the BCH price on 15-July-19, when the price was $272.6 at 01:30 UTC and today, the coin is presently reflecting a surge by 17%. In about a week’s time the coin has managed to bounce back from the bearish run.

By the end of the day tomorrow, BCH may touch $320 and after about a month’s time it can reach $326.90 with a 2% rise. BCH may reach greater heights by about the end of this year and it can go as high as $550.

As per the current trend, it is suggested to go short with the BCH investments. Potential investors may wait for a few days’ time post which can purchase new coins. The Chaikin Money flow indicates that the coin seems to be slowly aiming for an upward rise. BCH has huge potential and will eventually prove its worth in the long run.

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