Bitcoin Cash (BCH) Price Analysis: Bitcoin Cash decodes the key to increase BCH’s mainstream adoption

Since the time Bitcoin Cash (BCH) has forked from Bitcoin in 2017, the peer-to-peer cryptocurrency has been leaving no stone unturned in gaining more and more traction from users, traders and key investors. Soon after its launch, the coin had achieved its all-time value, and if we scan through the current statistics, it is all set to create a new benchmark once again.

Current Statistics:

• Bitcoin Cash (BCH) is ranked at the 4^th position in the top 100 cryptocurrencies list by the CoinMarketCap
• The ROI of Bitcoin Cash stands at negative 47.51%
• As on May 10, 2019 at 09:44:02 UTC, the market cap of BCH is 5,010,090,798 USD
• The price of the coin is trading at USD 281.88 & 0.04512026 BTC
• The 24 h volume has been 1,513,412,692 USD
• The circulating supply of the coin is equivalent to the total supply and stands at 17,773,813 BCH

Comparison:

In the last 30 days, the highest price of the coin piqued to 332.28 USD. As on April 03, 2019 at 23:34:01 UTC, the market cap of the BCH was 5,678,939,219 USD, the price was 320.69 USD & 0.06272710 BTC and the 24 h volume was recorded at 3,811,768,427 USD. The value of the coin has reported a downward trend of over -15% in the last 30 days. The price has moved between the range of 311.66 USD and 272.27 USD in the last 7 days. The first resistance level of the coin will be at 291.79 USD in the next one week.

Bitcoin Cash Price Prediction until 2020:

The value of the Bitcoin Cash coin at the beginning of 2019 was around USD 150, and it has grown almost 2X in the last 3 months with the highest price recorded in April 2019. Additionally, the all-time high of Bitcoin was achieved on December 20, 2017, at USD 4,355.62. With the increasing mainstream adoption through collaborations like the recent one with Avnet, Bitcoin Cash (BCH) is targeting traders and investors & gaining momentum. The firm has also partnered with Jeju Blockchain Smartcity association to increase the adoption of BCH and Roger Ver, CEO of Bitcoin.com, firmly believes that these strategic measures will result in creating history once again. Considering all these factors, the price of Bitcoin Cash can cross 1000 USD by the end of 2019 and can reach as high as 5000 USD by the end of 2020.

Conclusion:

As per the Bitcoin Cash projection, it will increase drastically in the coming days, and it is a long-term safe investment with larger returns. This is indeed the best time to buy Bitcoin Cash.