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Bitcoin Cash Price Analysis: BCH Once Again in Bullish Trend

The cryptocurrency market was in slight bearish correction figures last week and even some of the currency’s values were experiencing the bearish pressure such as Bitcoin, Ripple, etc, but the experts are advising that it is just correction figures in the market and the bullish trend will come back.

Cryptocurrency’s values are doing great this year in comparison with the 2018’s bearish market. The prices of the cryptocurrencies are in a far better position than that of last year’s. Bitcoin Cash has also experienced the all-time lowest value in 2018 and it was trading at the value of $75.08 on 15 December 2018. The Bitcoin Cash value has improved in these 5 months and it is in very good condition now. It is a hard fork of the world’s largest cryptocurrency Bitcoin.

After the slight correction last week, the price of Bitcoin is again increasing and going up. In the month of March, it was trading between the range of 110 to 168 USD and its bullish trend in value was begun from April 1st. BCH was trading at the value of $167.86 USD on April 1st and its value gain the bullish momentum and it achieved the value of $443.68 USD on May 16. The value of BCH was increased by 164% in the period of just 2 months. The experts are predicting that the value of BCH will touch the mark of $1206.53 USD by the end of 2019.

Current Value of Bitcoin Cash (BCH): At the time of writing, the value of the Bitcoin Cash is trading at $408.23 USD and the value of BCH is increased by 0.15%. The market capitalization of the currency is $7,272,710,776 USD and the 24-hour volume of BCH is $2,306,518,797 USD. The circulating supply of BCH is 17,801,075 BCH and the max supply is 21,000,000 BCH.

BCH’s opening value today was $412 USD and it more than $3 USD than yesterday’s closing value of $409.05 USD. Yesterday the price of the BCH was increased by $25 USD, making the value of BCH from $396.41 USD to $421.01 USD and if the volumes are correct today then the value of the BCH will cross the value of $421.01 USD and it will confirm the bullish movement.

The other reason that the value of the BCH is increasing and joining the bullish trend is its alliances and being a source of second remittance method for BitPay. It is a hard fork of the world’s largest virtual currency Bitcoin from the year 2017 and it is very popular in the cryptocurrency market because of its faster transactions, top-notch security, and plasticity. MACD level and moving average are in bullish movement.

Comparison of BCH’s Value: The value of BCH is experiencing the increase since April 2019. The bullish trend was started by April 1 and the average volume begun till then was approx at 500,000,000, still, 4,000,000,000 was the volume from there and it displays the increase of 700% in the previous 2 months. The value of BCH was also increased by 165% during this time. All this surge and stability in the surge of value shows that it is moving towards bullish value. The experts are predicting that once the correction will be over, the value of the BCH will cross its present 3-month peak of $443.66 USD and it will achieve the mark of $1206.63 USD by the end of 2019.

After the Bitcoin has gained stability in its value for its institutional traders or investors to come, now it is the chance for Bitcoin Cash to join the bullish trend. The surge in its volume and value has also displayed this. As experts also predicted it could easily reach the value of $1200 by this year, this the good time to buy the currency and it will provide a safe return of almost 200%.

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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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