Monday, December 16, 2019

Bitcoin Cash price down to $299.56; Will it continue to fall?

From the period of January,2019 till March,2019 performance of Bitcoin Cash was not up to the mark, with the trend remaining bearish for most of the period. On 29-Jan-19, the coin had reached as low as $109.61. There were several ups and downs faced by the coin until the end of March,19.

There was a steep rise in the BCH price on 3-April-19, post which the coin’s movement has been haphazard. On 26-June-19, it managed to reach a high of $482.58 which was phenomenal growth as compared to figures of January 2019. It continued with the same trend; BCH could have even reached as high as $500. Unfortunately, it could not survive the bullish trend and prices began to fall. While writing, the movement and trend of BCH was bearish.

Comparing BCH coin’s price on 26-June-19 and today’s prices the coin reflects a bearish trend by 37%.

By tomorrow, Bitcoin Cash may fall to $290. Considering the huge potential of BCH, it may regain back its efficiency and performance levels after about a week and may reach $317.The coming 6 months or so may be a crucial period for the coin as it may be traded in the range of $296 to $363 with prices fluctuating.

After a period of 5 years, BCH has very good potential to reach higher up in the rankings and can touch $3208 with more than 974% growth. Trading on short term basis on BCH will not be profitable as it is advisable to invest in the coin from a long-term perspective. YTD performance figures of BCH have been quite good with 102.36% growth provided by the coin. BCH has shown it in the past that it has the potential to turn the tables around which will eventually be a boon to the investors. The future for BCH is bright and the coin will eventually manage to prove back its stand.

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