Home / Analysis / Bitcoin Cash (BCH) Price Analysis: BCH/USD Price Likely to Plunge

Bitcoin Cash (BCH) Price Analysis: BCH/USD Price Likely to Plunge

Bitcoin Cash is doing great in the cryptocurrency market, doing partnerships, multinational listings, and supported with firm underlying technology. The CEO of the Bitcoin Cash, Roger Ver is trying everything to make the BCH the initial choice of the virtual currency traders or the main players. Recently, BCH has also had a partnership with ‘Alliance Cargo Direct’ and ‘Avnet Partners’.

Yesterday, the cryptocurrency market is experiencing the bullish trend, but today the market is showing a different result.

Current Status of Bitcoin Cash (BCH): Currently, the value of the BCH is trading at $350.35 USD and the value of the BCH is decrease by -11.73%. The market capitalization of the $6,231,709,236 USD and the 24-hour volume of BCH is $3,749,671,292 USD. The circulating supply of the coin is 17,786,925 BCH and 21,000,000 BCH. The ROI of the currency is -36.97%

Yesterday, BCH’s value was trading high. On May 16, 2019, the trading value of BCH was $400.45 USD and the market capitalization of the currency was $7,122,026,912 USD.

Short-Period Analysis: The currencies have bearish short period analysis. The 4-hour chart show head and shoulders pattern, with bearish trend coming in the cryptocurrency market. The BCH’s technical signal is bearish. The BCH’s low of December 15, 2018, the value of $75.08 USD is the initial target of head and shoulder pattern. The RSI and MACD signal of the currency is bearish.

Medium-Period Analysis: The medium-term value analysis of the currency is bearish. The buyers are experiencing the loss in their investment with the currency. The daily time chart of the currency is also bearish. The technical signal of the currency is also bearish. The pattern watch is showing the opposite of yesterday’s value and buyers can experience loss. On the daily time chart, the RSI signal is bearish and the MACD is also displaying bearish signs.

If the bearish movement takes over the value of the Bitcoin Cash will even go further downward.

About Arushi Dubey

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Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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