Bitcoin Cash (BCH) price prediction 2023-2030
Within 2 years, Bitcoin Cash has proven to be a good investment, ranking 28th among all cryptocurrencies by market capitalisation, according to CoinMarketCap. As a prosperous Bitcoin fork, BCH is predicted to grow further. However, before we delve deep into our Bitcoin Cash price prediction, let's take a look at its history.
What is Bitcoin Cash (BCH)?
Bitcoin Cash is a hard fork of Bitcoin. It appeared in August 2017, the result of a decision of influential miners, developers, investors and users who were opposed to the SegWit2x consensus. Now, it's a P2P decentralised payment system. The idea of BCH is "a coin for everyday transactions".
Bitcoin Cash's developers decided to change the block size to enable a greater number of transactions and improve the cryptocurrency's scalability. They, therefore, increased it from 1 MB 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 recognised this cryptocurrency and routed high hashrate volumes to mine BCH.
Here's a brief overview of Bitcoin Cash's status on 17/07/2023:
Amaury Sechet, Roger Ver Jian Wu
Bitcoin Cash's main information
Bitcoin Cash (BCH) price analysis
The many cryptocurrency community members, including Ethereum and Bitcoin miners, didn't readily accept Bitcoin Cash. Nevertheless, BCH has become a great investment tool. It's listed on different digital currency exchanges, including Bitstamp, Coinbase, Gemini and Kraken.
BCH's price history
It all started at about $200 for 1 BCH. Even at this rate, the cryptocurrency immediately hit the top of CoinMarketCap's charts by market capitalisation. The rate doubled the next day. The price was stable for three weeks until it rose to $1,000. The community must have been convinced that it was an intentional rise because the price immediately fell to $700.
We can observe a long, smooth decline. In the middle of October 2017, the price hit the $317 mark per BCH. Then, there was a significant reversal that saw BCH rise to $1,600.
Following this, the market grew several times. Each cryptocurrency rose by around 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 crypto market started on 22 December, when each project, including Bitcoin, Waves and others, began to lose value. The price of Bitcoin Cash fell to $1,000 before seeing a big price jump to $1,500 at the beginning of May 2018, when the market went down again.
The previous winter was the worst for the cryptocurrency market due to low prices. At that time, Bitcoin Cash traded for $80. There was small growth that brought it up to $534, but the price dropped again. In May 2021, the surge in crypto prices saw Bitcoin Cash's price increase to over $1,600, the highest since it traded at around $1,800 in April 2018. But it couldn't be maintained. Since then, the price has fallen back to below its opening price of around $400 and is currently trading at around $240.
BCH/USDT price chart
BCH technical analysis
Based on data from 17 July 2023, the overall sentiment for Bitcoin Cash price prediction is negative. Our technical indicators suggest that Bitcoin Cash's 200-day Simple Moving Average (SMA) will increase in the coming month and reach $154.82 by 16 August 2023. The short-term 50-Day SMA for Bitcoin Cash is projected to reach $250.44 by the same date. At present, the Relative Strength Index (RSI) stands at 55.08, indicating a neutral position in the BCH market.
Bitcoin Cash (BCH) price prediction for 2023, 2025 and 2030
It's tough to make a price prediction for such a volatile market. Technical analysis isn't enough. Why? To understand this, take a look at human psychology and follow the latest news about all the top cryptocurrencies.
First, prices depend on Bitcoin. As it gains strength, it rushes swiftly onto the market and stimulates growth. On the other hand, it also generates a decrease for all coins. Why does this happen? People think that Bitcoin determines the market's near future.
Next, most cryptocurrencies are interdependent upon each other, often with negative dynamics and relatively independent with positive ones. When the market falls, all currencies lose their value, but during a massive rise, each coin's price grows at its own rate.
Other influential factors are:
- The latest news
- Investments from well-rated companies or persons
- Miner productivity
- The attitude of different exchanges.
We have some thoughts about Bitcoin Cash's future price. But first, let's take a look at some predictions from popular services.
TradingBeasts Bitcoin Cash price prediction for 2023, 2025 and 2030
TradingBeasts holds a pessimistic view of BCH's current market conditions. Based on their technical analysis of Bitcoin Cash, it is anticipated that the coin will experience a decline in value in the coming days.
WalletInvestor Bitcoin Cash price prediction for 2023, 2025 and 2030
WalletInvestor doesn't forecast a long-term increase in BCH. According to their price prediction, the future value of Bitcoin Cash could increase to $369.025 by the end of 2023. However, things will get worse in 2025, as the crypto's price will drop to $71.713 by the end of 2025. WalletInvestor's BCH price prediction for 2028 averages $62.898.
Long Forecast Bitcoin Cash price prediction for 2023, 2025 and 2030
LongForecast is still a bit pessimistic about BCH's price, especially for the coming years. They predict a price drop to $210 from now until the end of 2023. In 2024, the crypto's value will continue falling to close 2024 at $131 value. In the future, LongForcasts' prediction suggests that the token will average $100, and 2027 may be an exceptionally bad year, with the price reaching as low as $92.
DigitalCoinPrice Bitcoin Cash price prediction for 2023, 2025 and 2030
Probably the most positive BCH price prediction, DigitalCoinPrice has predicted a very successful decade for Bitcoin Cash. They believe that in 2023, Bitcoin Cash will trade above $500, and in 2025, prices will stabilise at around $814 for 1 BCH. By the end of 2027, 1 BCH will be valued at close to $989.
Bitcoin Cash overall value predictions
Predictions for Bitcoin Cash could be optimistic just because it's the most successful hard fork in cryptocurrency 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, the daily trading volume is over $2 billion. So, traders believe in this project, too.
BCH's 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 predict continued growth. And with the wider adoption of cryptocurrencies worldwide, we can also see a chance for better price performance in the coming years.
On the other hand, Bitcoin Cash has many problems, mostly technical issues. Just as with Bitcoin, BCH's block time is almost 10 minutes. This chain is overloaded, and each transaction processes after a significant delay.
Bitcoin Cash's productivity depends on miners' activity. The network's complexity is increasing, so miners have to spend more resources to work effectively. As a result, some of them will give up on this idea for the hashrate to decrease. This will hurt transaction rates, followed by a fall in BCH's price.
The same goes for security issues. If miners are reluctant to use their high hashing power, that 51% possibility of an attack will grow. Someone with great resources could have the ability to control the BCH chain and use it for their own needs.
How high can Bitcoin Cash go?
It depends on whether Bitcoin Cash will destroy Bitcoin. It's hard to answer this question. BCH can be scaled much higher than Bitcoin. But it still has its own flaws: security and interdependence with other alternative coins.
Bitcoin will not die anytime soon because it's needed to exchange most cryptocurrencies on most exchanges. If Bitcoin crashes shortly, the whole market will fall. While the need for BTC exists, neither Bitcoin Cash nor other altcoins can overtake the market.
Next, BCH is dependent on Bitmain, which provides the biggest support for this cryptocurrency. Because of this, BCH can't go very high. If Bitmain changes its favourites, Bitcoin Cash will lose its position.
Therefore, we can't give a forecast for the highest Bitcoin Cash price because it has many variables affecting it. However, we do believe that it will rise to $5,000 in the next five years.
BCH Price prediction today
These days, the whole crypto market is bearish. Traders are mostly selling Bitcoin Cash. That is why the BCH price prediction today is quite gloomy. In the coming days, the price may fall even further. There are some bullish reversals, but it probably won't be enough for a significant rise until more bullish momentum in the crypto market in general.