2. What is Bitcoin Cash (BCH)?
3. Bitcoin Cash (BCH) Price Prediction by market
4. Coinnounce’s Bitcoin Cash Price Prediction
- Bitcoin Cash Price Prediction 2020
- Bitcoin Cash Price Prediction 2025
- Bitcoin Cash Price Prediction 2018
5. Frequently Asked Questions (FAQ)
The innovation that started the market and scope for cryptocurrencies over a year ago is Bitcoin. Over the year, we have seen Bitcoin gain and lose its popularity as the prices saw fluctuations in the market. Many new cryptocurrencies were introduced in the market to compete with Bitcoin, but it has been the ultimate winner of the market.
With the growing popularity of the cryptocurrency and its network, fees on the network forced few members of the community to perform a hard fork for the system. The motive behind this hard fork was to increase the size of the blocks for the network. The process of launching a new fork started on July 2017, and later in August 2017, Bitcoin Cash was launched. This was the result of the Bitcoin ledger breaking up, and the Bitcoins blockchain and cryptocurrency split in two.
Note: Before naming it as Bitcoin Cash, the hard fork was presented as Bitcoin ABC at a conference.
The difference between BCH and Bitcoin is the difference in their block sizes. Bitcoin Cash has a larger block size as compared to Bitcoin, which means that Bitcoin Cash allows faster transactions to take place in the system as compared to Bitcoin.
Currently, Bitcoin Cash is trading at $260.38 with strong resistance at $275, and immediate support is present at $257.50. With these numbers, Bitcoin Cash is facing an upward trend as the price continues to recover from the recent downfall in the prices. Bitcoin Cash has seen an increase of 3.78% in the last 24 hours as the altcoin sits in the 4th place in the charts with a market cap of $4,719,934,958.
What is Bitcoin Cash (BCH)?
Well known in the market as the spin-off of Bitcoin and as an altcoin, Bitcoin Cash is a fork of Bitcoin, which was introduced in 2017. Bitcoin community decided to launch another platform from the main network with bigger block size and lesser usage fees as compared to Bitcoin.
The community expected the price of Bitcoin Cash to grow faster, and the prediction by the community turned out to be accurate as the price hiked the very next day from its launch. The altcoin was launched at $250, and the next day, it’s price reached $651 and above.
Advantages of Bitcoin Cash:
- block size is more prominent than Bitcoin
- number of transactions is more
- the factor of risk in investment is less as compared to Bitcoin
Bitcoin Cash price prediction by market
1. Roger Ver
Roger Ver is the CEO of Bitcoin.com, and he believes that Bitcoin Cash is capable of replacing Ethereum and take over the second place. Roger Ver predicts that BCH will reach twice its price by 2019, i.e., $500-$600.
CryptoGround has predicted that the price for BCH will reach $700 levels by the end of 2019. The price prediction is very optimistic, keeping considering how the market is right now.
Another cryptocurrency price prediction website has given a somewhat unrealistic price prediction that the price will reach the levels of $6700 by the year-end. For the next five years, they believe that the price will reach $24,000-$25,000.
4. Trading Beasts
Another platform, Trading Beasts, has predicted that the price of BCH for 2019 will reach as high as $2703.17. The bullish predictions in the faith people have in Bitcoin Cash.
5. Wallet Investor
WalletInvestor has come forward with another price prediction, and this time, it is realistic as they have predicted that the price of BCH might reach $502-$505 by the end of 2019. They also believe that the price will reach $1401.290 by 2024.
Coinnounce’s Bitcoin Cash Price Prediction
Our analysts at Coinnounce have studied the historical trends of the altcoin, and they have predicted the price for the coming years. An accurate prediction of such a volatile market is a tough task, but various tools have helped the team to figure out the price predictions for the coming years.
Bitcoin Cash Price Prediction 2020
Bitcoin Cash has been doing well amid the price fluctuations as it has managed to stay above the $220-$230 significant support levels. The trading of the altcoin has increased as the price is moving upwards.
With 4th place in the market, Bitcoin Cash has gained the trust of a lot of users as it has reached this position in the market. Bitcoin Cash price can reach around $1500-$1800 level by the year 2020.
Note: In 2018, this spin-off of Bitcoin further split into two cryptocurrencies – Bitcoin Cash and Bitcoin SV.
Bitcoin Cash Price Prediction 2025
Bitcoin Cash might go through several developments and changes in the next five years. Bitcoin Cash will saw changes in the market position as more people are already moving towards the adoption of BCH.
Bitcoin Cash will notice significant growth in its market as well as its price in the coming years. There are chances that its position in the market might increase as well. The price is expected to reach $5000-$6000 by 2025.
Note: Bitcoin Core developer Cory Fields found a bug in the Bitcoin ABC software that would allow an attacker to create a block causing a chain split. Cory informed the developing team, and this issue was resolved.
Bitcoin Cash Price Prediction 2018
2018 started with a bullish trend as the previous year closed at an all-time high for every cryptocurrency, including Bitcoin Cash. High expectations were set for 2018, but things changed when the price started declining.
From trading at $3511.68 to falling to $170, BCH witnessed a massive crash in 2018. This decline caused a drop in the volume as well as left the market questioning the future of BCH, but still, people had high hopes from the market.
Note: Bitcoin Cash was the first-ever Bitcoin fork that was released where the developer’s team changed the source code of Bitcoin and released coins with “Bitcoin” in their name.
Frequently Asked Questions (FAQ)
1. How many Bitcoin Cash are there?
Since its a hard fork of Bitcoin, BCH also has a limited supply of 21,000,000 BCH.
2. Is investing in Bitcoin Cash profitable?
Yes, due to its low price per unit and earning potential of 91% over a year makes it a profitable investment.
3. Will Bitcoin Cash ever replace Bitcoin?
It is a tough task for Bitcoin Cash as Bitcoin is on top based on its market capitalization.
4. Can Bitcoin Cash be mined?
Yes, BCH also uses the same proof-of-work algorithm that is used by Bitcoin. Hence, it can be mined using CPUs and GPUs.
5. How many BCH are there in circulation?
At the time of writing, 18,081,525 BCH in circulation in the market.
Bitcoin Cash is one of the fastest-growing cryptocurrencies that has made its way to the top position in very little time. Since its launch, more and more people have moved towards this cryptocurrency due to the lesser fees and price of the BCH unit. BCH has also proved to be a good altcoin for early investors.