Bitcoin Cash Price Analysis: BCH Continues To Fall And Reaches $319.09, Needs To Bounce Back Fast

BCH was valued at $338.41 on 4-Aug-19 at 03:40 UTC. Post this date, it has shown a gradual upward trend, and the coin managed to reach $355 on 5-Aug-19 and 6-Aug-19. However, it has not been able to maintain its performance standards and has started to decline ever since. It fell to $329.33 on 6-Aug-19 at 21:40 UTC and prices of the coin are continuing to fall even further.

Current Statistics of BCH:

  • BCH has maintained its rank on the 4th position in the crypto market.
  • Market value of Bitcoin Cash was 5,800,707,372 USD.
  • BCH is currently trading at $319.37 at 10:09 UTC time.
  • 24-hour volume figures are$1,239,971,261.
  • 17,937,563 BCH coins are being traded now.
  • ROI of BCH stands at -41.95%.

BCH performance over the past 5 days is as below:

Bitcoin Cash Price Prediction
Bitcoin Cash Price Chart by TradingView

BCH Price Analysis and FuturePrediction:

Comparing the price of BCH since 6-Aug-19 at 10:10 UTC, when the coin has reached a price height of $355.46 with the current price, BCH reflects a downward trend by 10%.

With this, the coin is expected to trade around $550 by the end of the year.

The Chaikin Money Flow indicator also points out a bearish outlook at present with the current price trend.

Conclusion:

As per the current trend of BCH, the investors can go along with their investments in the coin. If the investments are retained for a long-term, the coin is anticipated to payout in huge numbers. However, the current market scenario for BCH is totally dominated by the bears. After 6-Aug-19, it has really not been able to bounce back well, having said that the coin has huge potential and will definitely come back in the game very soon.

     
 
 




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