Bitcoin Cash (BCH) Price Analysis: Bitcoin Cash Again On The Bull Run To Yield 200% Return By 2019
From its all-time low of 75.08 on December 15, 2018, to its current price is a phenomenal rise of 443% within 5 months for Bitcoin Cash (BCH).
Bitcoin Cash a hard fork of Bitcoin, within the last two years has seen an all-time high of 4355 to its low of 75 USD. It is again on the verge of riding on the booming market of 2019. Being range bound between 110 to 168 USD till March it started its bull run back from April 1. It was 167.86 on April 1 and went on the bull ride to 443.68 on May 16. It was a return of more than 164% within 2 months. Experts predict it to move to its year high of 1206.53 by 2019. It is because of many reasons which include:
- It is now an alternative payment for BitPay.
- Being the hard fork of Bitcoin from 2017, it is renowned for its flexibility, high level of security for quick transactions.
- MACD or the moving average convergence is now slowed down to fall into the negative zone to retreat into the positive region which confirms the bullish momentum.
May 25 Price Statistics of Bitcoin Cash at 7:34 UTC:
|Ranking in cryptocurrency list of coinmarketcap||4|
|Return of Investment (ROI)||-26.54%|
|Total Circulation||17,800,563 BCH|
|Market Cap in USD||7,325,560,661|
|Current Price in USD||411.53|
|Current Price in BTC||0.0512639|
|24 hours traded volume||2,409,058,085|
|25 days price change||53.30%|
May 25, Bitcoin Cash intraday analysis:
Today Bitcoin cash opened at 412 USD with an increase of nearly 3 USD than yesterday’s close of 409.05. Immediately it fell to a low of 407.70. It is now trading at 411.53 after touching a high of 413.69. Since yesterday there was a significant movement of 25 dollars from the low of 396..41 to 421.01, today if the volumes are right it may cut yesterday’s high to confirm the bull run. Also, chances are for it today to be range bound between yesterday’s level to consolidate the bull run.
Value comparisons of Bitcoin Cash Price (BCH):
The rise of Bitcoin Cash from April is accompanied by significant volume. As of April 1 when the bull run started the average volume till then was approximately 500,000,000. But from there, the volume is 4,000,000,000. It is a 700% rise in volume for the past two months. Also, it has risen by 164% during this period. Hence compared to the surge which is maintained till date in volume indicates BCH is going only one way. After the correction is over and when it cuts its recent 3 months high of 443.66, it will easily reach 1206.63.
Since Bitcoin has become stable for institutional investors to enter, it is the turn of Bitcoin Cash to fill in the bullish run for it. The significant volume and price change for the last two months only indicate it. If bought at the current price it could reach 1200 level within 2019. It is a safe and secure return of approximately 200%.
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