Within 2 years, Bitcoin Cash has proved to be a good investment, reaching 5th position among all cryptocurrencies according to Coinmarketcap. As a prosperous Bitcoin fork, BCH is predicted to further grow. However, before we delve deep into Bitcoin cash prediction, let’s throw a glance at its history.
What is Bitcoin Cash (BCH)?
Bitcoin Cash is a hard fork of Bitcoin. It appeared in August 2017, caused by a decision of a group of influential miners, developers, investors and users, who were against the SegWit2x consensus. Nowadays, it is a P2P decentralized payment system. The idea of BCH is for it to be a “coin for everyday transactions”.
The developers of Bitcoin Cash decided to change the block size in order to enable a greater number of transactions and improve the scalability of cryptocurrency. They therefore increased it from 1MB to 8 MB.
After its creation, BCH quickly became popular. Almost 1,500 blocks were created within a month. Mining pools such as Antpool and ViaBTC recognized this cryptocurrency and routed high volumes of hashrate to mine BCH.
Some brief information about Bitcoin Cash:
Amaury Sechet, Roger Ver Jian Wu
3.7 billion USD
Table 1. Bitcoin Cash main information
Bitcoin Cash (BCH) Price Analysis
Many members of the cryptocurrency community, including Ethereum and Bitcoin miners, do not accept Bitcoin Cash. Nevertheless, BCH has become a great investment tool. It is listed on different digital currency exchanges including Bitstamp, Coinbase, Gemini and Kraken.
BCH Price History
It all started at about $200 for 1 BCH. Even at this index, the cryptocurrency immediately hit the top of Coinmarketcap. The rate doubled the next day. The index was stable, but after three weeks, it rose to $1,000. The community must have been convinced that it was an intentional rise, because the price immediately fell to $700.
BCH charts for the first three weeks
We can observe a long and smooth dump. In the middle of October 2017, the index hit the $317 mark for 1 BCH. Then, there was a great reversal and BCH rose to $1,600.
Following this, as you remember, the market grew several times. Each cryptocurrency grew by about 400%. Some prices increased by up to 1,000%. Bitcoin Cash was at its highest level in the middle of December with a value of $4,091 per coin.
The dark days for the cryptomarket started on the 22nd of December. On this day, each project, including Bitcoin, Waves and others, began to lose positions. The Bitcoin Cash price fell to $1,000.
Going further, there was a big growth that brought the price to $1,500. That happened at the beginning of May 2018. But after this, the market went down again.
The previous winter was the worst for the cryptocurrencies market, due to the prices being at their lowest. Thus, Bitcoin Cash was traded for $80. There was a small growth that brought it up to $534, but the price has since dropped again.
BCH Technical Analysis
Nowadays, the price of Bitcoin Cash is consolidating in a flag formation, waiting for a potential breakout.
During autumn, the BCH price tested the $200 support level but recovered above $300 to form a high at $309. However, failure of the bulls to continue the uptrend resulted in the current losses below the $210 level.
However, if more buyers emerge, the coin will rise to price levels of $220 and $230. Conversely, if the $200 support level gets weak, the BCH price may find a new monthly low.
Summary trends for BCH
According to TradingView, people have mostly sold BCH in the last month. Therefore, the support level is weak and will get weaker. You must be ready for a bearish trend in the nearest future.
Bitcoin Cash (BCH) Price Prediction for 2020, 2021, 2025, 2030
It is very hard to make a price prediction for such a volatile market. It isn’t enough to conduct a technical analysis. But why? To understand this, you need to look at human psychology and follow the latest news about all top cryptocurrencies.
Firstly, the prices depend on Bitcoin. As it gains strength, it rushes swiftly onto the market and stimulates growth. Contrariwise, it also generates a decrease for all coins. Why does this happen? People think that Bitcoin determines the nearest future of the market.
Next, most cryptocurrencies are interdependent with negative dynamics and relatively independent with positive ones. When the market falls, all currencies lose their price, but during a massive rise, each index grows individually.
Other influential factors are:
- latest news;
- investments from well-rated companies or persons;
- productivity of miners;
- the attitude of different exchanges.
We have some thoughts about the Bitcoin Cash future price. But firstly, let’s take a look at some predictions from popular services.
Smartereum Bitcoin Cash Price Prediction for 2020, 2021, 2025, 2030
Smartereum is of the opinion that Bitcoin cash is struggling to be at the top. Why? Because Bitcoin found some solutions for scalability: SegWit and Lightning Network. They allowed Bitcoin to get more throughput. So, Bitcoin Cash will lose its topicality and fall.
Nevertheless, Smartereum does think this cryptocurrency has a chance. Their prediction for the next 5 years is $10,000 for 1 BCH.
Trading Beasts Bitcoin Cash Price Prediction for 2020, 2021, 2025, 2030
Trading Beasts gives positive Bitcoin Cash price predictions. At the very beginning of 2020, they see $147 as a minimum price and $217 as maximum for it. Towards the end of 2022, they predict the price to be at least $359 for 1 BCH and $529 as a maximum index.
WalletInvestor Bitcoin Cash Price Prediction for 2020, 2021, 2025, 2030
Walletinvestor says that long-term increase in BCH is inevitable. According to their forecast, the future value of Bitcoin Cash could reach up to $819. Their Bitcoin Cash price predictions for 2020 show growth from $208 to $362. Moreover, they believe that BCH will not crash at all and its price won’t fall in the future. Nevertheless, they have said that BCH is not going to replace Bitcoin in the near future.
LongForecast Bitcoin Cash Price Prediction for 2020, 2021, 2025, 2030
LongForecast goes with a mostly negative BCH price prediction in the following years. They thus predict that the 2020 price will open at $204 and close with $148. 2021 will be the worst year for Bitcoin Cash. According to LongForecast, BCH will fall down to its historical minimum at $43 per coin. Only after this will a growth of up to $245 be observed in 2024.
DigitalCoinPrice Bitcoin Cash Price Prediction for 2020, 2021, 2025, 2030
Opposite to LongForecast, DigitalCoinPrice has the most positive BCH price prediction. They see a fast rise of the index for this cryptocurrency. They thus believe that in 2020, Bitcoin Cash will reach $434, and in 2025, it will be at its highest level at $941 for 1 BCH.
Bitcoin Cash Future Value Predictions in General
Predictions for Bitcoin Cash could be positive, just because it is the most successful hard fork in cryptocurrencies history today. The total hashrate is 2.544 Ehash/s. This shows that mining pools believe in the future of BCH and are trying to support it. According to Coinmarketcap, daily trading volume is over $1 billion. So, traders believe in this project too.
The BCH fees are low again, so it could be more stable, with people completing more transactions. This could influence the positive attitude towards cryptocurrency and stimulate a small rise.
BCH prevails above fiat in some countries, especially in Australia. Forecasters rely on future projects, connected with Bitcoin Cash and prophesize the continued growth. As the role of this cryptocurrency is rising in the world, we can predict a chance for a better index in 2020.
On the other hand, Bitcoin Cash has many problems. Most of them are connected with technical issues. Just as with Bitcoin, the BCH block time is almost 10 minutes. This chain is overloaded and each transaction processes with a big delay.
Bitcoin Cash productivity depends on miners’ activity. Network complexity grows bigger, so miners have to spend more resources for effective work. Some of them will give up on this idea, so the hash rate will decrease. This will have a negative effect on transaction rates. If this happens, the BCH price will fall.
This goes for security issues. If miners are reluctant to use their high hashing power, that 51% possibility of an attack will grow. Thus, someone with great resources could have the power to control the BCH chain and use it for their own needs.
How High Can Bitcoin Cash Go
This depends on the next question: will Bitcoin Cash destroy Bitcoin? It is hard to answer this question. BCH can be scaled much higher than Bitcoin, but it has its flaws too. That goes for security and interdependence with other alternative coins.
Bitcoin will not die anytime soon, as it is needed to exchange most cryptocurrencies on most exchanges. If Bitcoin crashes in the near future, the whole market will fall. Until the need for BTC exists, neither Bitcoin Cash nor other alternative coins can overtake the market.
Next, BCH is dependent on Bitmain, which gives the biggest support for this cryptocurrency. Because of this, BCH cannot go very high. If Bitmain changes their favourites, Bitcoin Cash will lose its positions.
Therefore, we cannot give a forecast for the highest Bitcoin Cash price, because it has many dependencies. However, we do believe that its index will rise up to $500 in the next five years.
BCH Price Prediction Today
These days, the whole crypto market is bearish. Traders mostly sell Bitcoin Cash. That is why the BCH price prediction today is quite negative. In the following days, its index is going to fall. There are some bullish reversals, but it will not be enough for a great rise.
Welcome to StormGain - crypto trading platform!
Trade with 200x multiplierRegister now