Monday, October 21, 2019

Bitcoin Cash Price Comparison: BCH on the bullish run, can it reach near $310?

Over the past one week, the moment of BCH has seen several ups and downs. It was being traded as low as $284.29 on 18-July-19. There was a sharp rise on the same day post which prices seemed to rise but could not maintain the same pace. A major breakthrough occurred on 20-July-19 wherein the price rose as high as $340.55 on 20-July-19 at 16:40 UTC time. Prices of BCH has been quite volatile in the last week, however while writing this analysis it seems that BCH will continue to rise as it is currently reflecting a stable movement. Prices were slowly beginning to rise while writing this analysis.

Let us look at the overall performance of BCH since 18-July-19:

Current Data of BCH:

  • BCH ranking is maintained at number 5.

  • Market value of Bitcoin Cash was 5,486,610,848 USD at 8:15 UTC.

  • Price of BCH is $305.31 at 09:25 UTC time.

  • 24-hour volume figures are $1,425,935,521

  • 17,910,425 BCH coins are being traded.

  • ROI of BCH stands at -44.93%.

BCH Price Analysis and Future Forecast:

Comparing the price of BCH since lowest point which was on 18-July-19 at 14:00 UTC wherein the price was $284.29 and the current price of the coin, BCH indicates that the coin is moving upwards by 7%.

We anticipate that BCH will continue with the bullish run and may reach $312.30 after about a week’s time. By August,19 BCH may continue to be traded in the range of $312 and $314. By the end of the year 2019, BCH will reach greater heights and can be traded at $378.57 with an increase of more than 23%.

Conclusion:

BCH movement indicates that it is a good time to sell the existing coins in hand today. The Chaikin money flow also indicates that BCH movement is bullish. If BCH continues with the same momentum, the next major resistance levels for the coin may be seen at $323.04 and $338.77 respectively. BCH has really managed to bounce back well since its lowest point which proves that the coin has a good potential to grow further and maintain its efficiency levels in the coming times.

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