Tuesday, November 12, 2019

Bitcoin Cash Price Comparison: Will BCH maintain its performance standards, or will it start receding over the next few days?

On 27-July-19 BCH was valued at $325.88 at 00:25 UTC time. There was a sharp fall and the coin was moving at the same pace below it fell again to as low as $291.38 on 28-July-19. The coin managed to bounce back and started slowly rising upwards with prices touching $328.57 today. However, looking that the trend of past 5 days, we anticipate that BCH may not be able to maintain its efficiency and may show signs of a downward movement by tomorrow.

Let us look at how the coin has performed:

Current Figures of BCH:

  • BCH ranked at number 4 as per coin market cap.

  • Market value of Bitcoin Cash was 5,811,837,568 at 07:34 UTC.

  • BCH price is at present $328.57 at 07:35 UTC time.

  • 24-hour volume figures are $1,592,532,307

  • 17,921,300 BCH coins are being traded.

  • ROI of BCH stands at -41.58%.

BCH Price Analysis and Future Prediction:

BCH had reached as low as $291.38 on 28-July-19 at 22:25 UTC time. If we compare the prices of the coin since this date and today, at present it indicates a bullish run by 12%.

However, having said that we strongly believe that the coin may not be able to maintain its present performance and may fall marginally to $320.76 with about 2% drop by tomorrow. It may be traded in the range of $313 and $325 over the coming few weeks. By the end of this year, BCH can reach as high as $389 with more than 18% growth.

Conclusion:

BCH prices have risen by 12% over the past 2 days, however considering the volatility of the market it looks like the coin will fall tomorrow and the bears may dominate the coin for another few weeks or so. The MACD indicator points that the present movement of the coin is a bearish one. As per the RSI indicator, the number of coins being traded at present seem to be on the neutral side. The coming few weeks and months might not be the best time for the coin however BCH has huge potential and it will eventually make a turn-around and continue to be among the top 5 contenders in the crypto world.

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