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Bitcoin Cash price analysis 30 May 2019; can BCH price hit $500?

bitcoin cas price analysis may

The Bitcoin Cash fork of the pioneering Bitcoin cryptocurrency has recently suffered a heavy blow to the chest with a successful fifty-one percent (51%) attack that came on the 15th of May.

Despite the attack, the BCH price has maintained a highly aggressive stance on the charts soaring above nine percent (9%) in the last 36 hours.

Bitcoin Cash price analysis 30 May 2019; can BCH price hit $500? 1
Bitcoin Cash BCH price chart by Trading View

The Bitcoin cash price analysis revealed that the attack of fifty-one percent (51%) on May 15th caused a slight decline in the price.

But, after the brief depreciation, the price of BCH surged and crossed the resistance level of four hundred and fifty dollars ($450). Since yesterday the price has surged to nine percent (9%).

On the day of the attack, BCH price was moving between the three hundred and seventy-six dollars and three hundred and fifty dollars ($350-374) range.

While for the BCH/BTC pair, the price of BCH was 0.04873 but, BCH has shown resilience and the price has managed to cross the anticipated resistance at 0.052 BTC and 0.054 BTC.

The crucial level of 0.052 BTC that served the strong resistance area was successfully surpassed, and after that, a great increase in the price has been noted.

Bitcoin Cash price analysis 30 May 2019; can BCH price hit $500? 2


Bitcoin price chart created with Trading View

Bitcoin cash rally to $465 started on the 29th of May, and the price continued to rise until now with an over 7% rise in 36 hours from $432.

The five-day chart analysis reveals that, Bitcoin Cash price is taking short breathing bearish breaks in the rally so far and if the current trend persists BCH price can hit $500 soon.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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