Monday, October 21, 2019

Bitcoin Cash Price Comparison: Will BCH continue to be dominated by the bears?

Over the past month, the prices of BCH have been moving almost the same pace irrespective of whether it is rising or falling. The end of last month was a great period for the coin as it had reached an all-time high of $519.3 on 26-June-19. However, post this date BCH has been declining gradually. From 2-July-19 till 10-Jule-19, the price of the coin was stable without any drastic change as such. On 11-July-19, the coin saw as sharp fall with prices reaching $316.5. On 15-July-19, prices fell even lower than previous figures at were at $272.1 at 01:30 UTC time. We anticipate that the bears will continue to dominate the coin for another few weeks or months as it has not been able to reflect a major turn-around in the prices.

Below is the overall performance of the coin:

Current Data of BCH:

  • BCH ranking stable at level 5.

  • Market value of Bitcoin Cash was 5,485,007,221 at 07:29 UTC.

  • Price of BCH is $312.6 at 07:30 UTC time.

  • 24-hour volume figures are $1,273,362,715 

  • 17,912,138 BCH coins are being traded.

  • ROI of BCH stands at -44.19%.

BCH Price Analysis and Future Prediction:

Comparing the price of the coin since its highest value which was $519.3 on 26-June-19 at 19:00 UTC time and today, the present movement indicates a bearish run of BCH by 39%.

We anticipate that the same trend may continue for the coin with prices falling to $300 by tomorrow. After about a week till 6 months, the coin may be traded somewhere in the range of $305 and $371. After about a year’s time, the coin may reach as high as $464, however it may take several months/years for the coin to outsmart the previous highest figures of $519.

Conclusion:

We suggest to sell the BCH coins today; you may also purchase new coins by tomorrow. It is recommended to retain the new coins at least for 4 and more years as it will prove to be very profitable in the long run. MACD indicator highlights that the coin is at present reflecting an upward trend which seems to be a temporary phase. As on today, the BCH coins being traded have been overbought. It is advisable not to trade on short term basis on the coin as might not yield good returns.

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