Bitcoin Cash Price Analysis: Bearish-trend in Bitcoin Cash (BCH) price; BCH back at $390

Bitcoin Cash (BCH) price is drenched in a bearish zone, and there is no indication of upcoming recovery. The coin will continue with the momentum for quite some time. The improvement will take place towards the weekend.

Bitcoin (BTC) is back at $9,000 after a heroic jump till $13,800. The current fall is creating pressure for many altcoins like Ethereum, Cardano, Litecoin, Bitcoin Cash, Bitcoin SV, Ripple, EOS, and many others.

However, the marketers believe July 2019 will come up with some sought of improvement in the trend.

Current Statistics of Bitcoin Cash (BCH):

The price chart is taken from Trading View on 2^nd July 2019, at 05:14:17 UTC for price analysis.

Looking at the chart of Bitcoin Cash (BCH) the coin started moving upward by 5.06% in yesterday’s opening period where it jumped from $398 to $419. The coin couldn’t hold itself for enough time and fell. The fall was of 4.21% from $419 to $401. Then again coin hiked till $417 from $401. This time the hike was of 3.92%. Further, a major drop was booked from $408 to $390 of 4.40%. During the last hours of the day, the coin again jumped till $420. The entire growth in price yesterday was of 5.52% as the opening price was $398 and the closing was $420.

Today, the coin opened at $420. The first few hours in BCH were quite disappointing as within 5hr the coin fell twice. The first fall was of 3.93% as the coin dropped from $420 to $404. The next drop was a major setback as the coin slipped from $412 to $390.

BCH Price Prediction and Conclusion:

As per Bitcoin Cash future, Bitcoin Cash (BCH) is expected to see the rising sun again in some time. The current Bitcoin Cash price can be taken as the opportunity by some traders to enter the market as the third quarter is assumed to lay great counters. Investing for the long term in BCH may be fruitful.

The short-term and long-term traders can dig in Bitcoin Cash (BCH) with the expectation of getting high dividends.