Bitcoin Cash (BCH) Starts A Fresh Price Rally, Is $500 Still Feasible This Month?

bitcoin cash

The digital currency market is now gaining momentum. The majority of digital currencies in the market are now trading in the green. Bitcoin (BTC) – which is the top crypto in the crypto market by market cap – is currently hovering around the $8k level. Recently, after breaking over the $8k and trading close to the $8,500 mark, the price of Bitcoin (BTC) plunged towards the $7k level. However, the crypto bulls are back, and most coins are now back on track.

The price of Bitcoin Cash (BCH) is not left behind in this price correction. The price of Bitcoin Cash (BCH) is currently surging higher, and it looks set to test a new level before the end of this year. There are lots of bullish BCH news today acting as a catalyst for the coin. The bullish Bitcoin Cash price prediction 2019 also looks attractive to many digital asset investors, increasing the adoption of Bitcoin Cash (BCH).

Bitcoin Cash (BCH) Records More Use Cases – BCH Price Prediction 2019 – BCH USD Price

When looking at blockchain statistics, the use cases of Bitcoin Cash (BCH) is on a continuous rise amidst the rest of the cryptos in the market. Transactions do occur on the blockchain of XRP, Litecoin, and Ethereum. However, the USD value on those transactions, when compared to BCH, are dwarfed. Bitcoin Cash is currently one of the used digital currencies. The digital currency is accepted by a lot of merchant and businesses as a means of payment. This has helped to boost the adoption of the digital currency, which has also had a positive impact on the price of the digital currency.

Bitcoin Cash Price Can Hit $500 Soon – Bitcoin Cash Price Analysis – Bitcoin Cash Price Prediction – Bitcoin Cash News Today – BCH USD Price Today

The chances of Bitcoin Cash (BCH) hitting the $500 level in the short-term is very high. The digital currency has the potential to surge higher soon. However, it is not certain if the price of BCH can hit that level by the end of this month. The price of Bitcoin Cash recently plunged heavily in November last year, during the split on the network. The split resulted in the hard fork – Bitcoin SV (BSV). BCH USD price has been able to recover significantly from that level, and it just tested a new yearly high, after an increase of about 100 percent so far this year.

The short-term outlook of Bitcoin Cash (BCH) looks very bullish. Over the weekend, the bulls had a very nice time and pushed the price of BCH over the $430 mark. The one-hour opening candle today at $428 saw the return of the bears for correction and subsequent confirmation of the continuation of the bull run.

At the press time, Bitcoin Cash (BCH) is currently supported at the $400 mark. On the upside, the digital currency is facing resistance at the $410 mark. A break over this level might pave the way for more gains towards the $500 mark.

Bitcoin Cash (BCH) Price Today – BCH / USD

NamePrice
bitcoin
Bitcoin
$7,944.810.313%
bitcoin-cash
Bitcoin Cash
$214.19-0.59%

At the time of writing, the price of Bitcoin Cash (BCH) is $406 after an increase of about three percent over the past twenty-four hours. The market cap of the digital currency is $7.23 billion. The trading volume of the digital currency over the past twenty-four hours is $3.36 billion.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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