Bitcoin Cash is a hard fork of Bitcoin. It works similarly to BTC in terms of its Proof-of-Work consensus system. So, is Bitcoin Cash a good investment? What does Bitcoin Cash price prediction hold?
In the past, Bitcoin Cash has displayed some promising movements in value, bringing it under the radar of several crypto experts and investors. Moreover, the token has a commendable technical foundation and a huge market cap. BCH is now among the top 100 cryptos worldwide.
These facts make Bitcoin Cash a promising cryptocurrency for investors. But what are experts' Bitcoin Cash price predictions? Is BCH worth buying in 2022 and beyond?
Find more detail about Bitcoin Cash forecast and prediction.
What Is Bitcoin Cash (BCH) Cryptocurrency?
Bitcoin cash is a hard fork of the original bitcoin blockchain, created to make cash transactions faster and cheaper. The network emerged in 2017 when disputes arose on scalability and high transactional costs on the parent blockchain.
BCH can support up to 25,000 transactions per block, an upgrade to bitcoin’s 1500 per block. It has a block size limit of 32 MB, which is a significant upgrade from Bitcoins’1 MB size.
Bitcoin cash uses a proof-of-work mechanism. Here, the consensus method and nodes are used to verify transactions.
A brief history of bitcoin cash
Bitcoin had a block size limitation of 1 MB for many years. As the number of users increased, it slowed the network down significantly, leading to BCH's birth.
Bitcoin cash was created on August 1, 2017. The BCH developers modified the original BTC code to create the project. The hard fork in the bitcoin network occurred at block 478,558, rendering all previous blocks invalid and needing an upgrade.
In 2018 however, Bitcoin cash also had to undergo a hard fork split into Bitcoin ABC and Bitcoin SV.
Bitcoin cash was upgraded to the simple ledger protocol. Here it supports the issuance of new tokens on the BCH blockchain. It also supports non-fungible tokens (NFTs), the rave of the moment.
What makes it different from other cryptocurrencies
Bitcoin cash has some standout features that set it apart from most other cryptocurrencies in its own right. They include:
- Highly confidential: Transactions are carried out without being tied to a specific identity, keeping its users anonymous.
- Distributed network: Its public ledger is stored on nodes managed by project participants and not in a single location.
- Transparent network: The blockchain houses all transactional data. This public ledger (the blockchain) is updated regularly by miners on the network in blocks. The ownership information is readily available and prevents fraudulent acts.
- Highly secure: With miners using the Proof-of-Work consensus mechanism, they contribute to the general security of the blockchain. Since mining is energy-intensive, a potential attack will be costly and are not likely.
Bitcoin cash blockchain at a glance
Factors Influencing Bitcoin Cash Price
Like every other cryptocurrency, critical factors influence the price of the coin.
Generally, the lower the supply, the higher the price, and vice versa. When the supply is higher, investors will likely undervalue the coin. Scarcity is a tool that can drive an asset's price high. Since bitcoin cash has a maximum supply of 21,000,000, it has helped to preserve its value over the years.
This limited supply will increase the demand and drive the future price up as it gets scarce. The greed index of investors also has a major part to play in the price increment.
Although the demand for BCH is modest compared to bitcoin, it is still widely adopted due to its efficiency. Affordability keeps attracting BCH investors, unlike bitcoin, where some new investors cannot afford to key into the project.
The higher the demand, the higher the price of BCH. However, if demand drops, the price will see a bearish reversal.
Since BCH coins are produced by mining, so much investment has to go into hardware. With more competition, the validation of blocks becomes more complex, and higher computing power is needed.
Although the tech sector growth has made computing power more available, they are quite expensive.
If the cost of mining increases, the coin's value will also rise. The reward of mining will have to offset production costs for miners to regard it as a good investment. This has a major effect on cryptocurrency prices.
With thousands of cryptocurrency projects emerging in a short space of time, competition is on the rise. It is not an overstatement to peg the sector growth prediction for cryptocurrency higher in the future.
So, if more projects that offer better and more affordable features come, the price of BCH might fall.
Regulations and policies
Some government policies can limit the success of a crypto project in specific regions, or even boost its adoption and value. For instance, some countries can clamp down on the use of cryptocurrency by citizens, thereby negatively affecting the prices of crypto assets. But favorable support in regulation can boost crypto usage and price.
Bitcoin Cash Past Performance: A Detailed BCH Price Action
There have been several changes in the price of Bitcoin Cash since its launch in August 2017. These changes resulted from specific events, which we've discussed below.
Bitcoin Cash ICO
Bitcoin Cash price at its launch in August 2017 was about $240. At the time, all Bitcoin holders got the token at a ratio of 1:1. Meaning, for every Bitcoin held, each holder was entitled to 1 BCH.
Bitcoin Cash had a steady growth in the same year and recorded its all-time high of $4,355.62 on December 20, 2017.
Bitcoin cash price and crypto market crash
A major event that affected the price of Bitcoin Cash was the crypto market crash. This crash occurred six months after hitting its all-time high. Bitcoin Cash lost about 80% of its value due to the event. For over two years, the BCH price hovered below the $600 price, even up to January 2021.
Later in May 2021, the token witnessed a rapid surge, hitting $1,636. This figure was about a 410% percent price change, the highest in almost 3 years back.
As per CoinMarketCap data, its price gradually dropped to just over $476 toward the end of June.
The global pandemic and the bitcoin cash price
2020 was not good for several digital currencies, and BCH was not exempted. After hitting its all-time high in 2017, the global pandemic pushed its price down.
Data from Coin Market Cap cited that Bitcoin Cash trading price dipped to $235.81 on April 3, 2020.
2022 crypto winter and bitcoin cash price
The crypto winter earlier this year also affected the price of Bitcoin Cash. In January 2022, BCH was trading at a price above the $400 price level. It dropped to the $300 range in a few months and later arrived at $212.29 on May 18.
According to TradingView, the current price of Bitcoin Cash at the time of writing stands at $110.22 with a market cap of $2.117 billion.
How Is Bitcoin Cash Doing Now? Is BCH Bullish Or Bearish?
The Bitcoin Cash price as of February 7th stands at $130.45 after gaining 5.70% in 24 hours. The candlestick chart above shows that BCH has recorded positive price action in 24 hours. As of the time of writing, though, the hourly gain is negative, and its 7-day price gain shows a drop of 4.81%.
However, the BCH trading volume has increased by 0.31% while its market cap has also gained 0.52% in 24 hours. These gains indicate an increase in activity and value. Now, the coin ranks number 31 on CoinMarketCap, keeping it amongst the top 100 in the market.
The prolonged crypto winter bear market hasn’t made the market favorable for most assets. But the coin has tried to hold its $100 mark since the market crash.
BCH only dipped below $100 on July 12 2022, and early hours of July 13 2022. It reclaimed hold of $100 on July 13 market close and has held on to it since then amid the incessant price pullbacks.
Expert BCH price prediction places the coin at a maximum price of $169.49705, a minimum price of $118.28817, and an average price of $123.79762 in 2023.
Bitcoin Cash Price Prediction Today
The bitcoin cash price prediction for Tuesday, February 7, shows a positive price action. According to the daily bitcoin cash forecast, BCH's minimum price will be $115. The maximum price will be $150, while the average price will be $123. This simple move can be affected by high volatility, which has become the latest trend in the market due to macros. So, the coin can still go bearish or bullish based on current sentiment, negating the forecast above.
Short-Term Bitcoin Cash Price Prediction For February 2023
Here is the February 2023 prediction for Bitcoin Cash price and the expected price trends.
Long-Term Bitcoin Cash Price Prediction For 2023
Crypto specialists are set to share their BCH price prediction in 2023. Here is a month-by-month Bitcoin cash forecast for 2023.
Long-Term Bitcoin Cash Price Prediction For 2023 – 2030
The minimum price and maximum price of Bitcoin cash for the next 8 years have been predicted in this bitcoin cash prediction table.
Let’s check the long-term BCH price prediction from 2023 to 2030 below.
Long-Term Bitcoin Cash Price Performance By Experts
Bitcoin Cash price prediction from experts is pretty helpful to invest wisely. Check out these crypto experts’ forecasts from 2022 to 2027.
Trading Education bitcoin cash price prediction – 2022
Trading Education predicts the Bitcoin Cash price to increase by 26%. It cited that BCH's maximum price will be $399.75 in the following months in 2022. Its average price should stand at $361.53, which is a 14% change from its minimum price of $318.52.
In the next 12 months, Bitcoin Cash's price will be around $744.48, according to Trading Education’s prediction.
Bitcoin cash price forecast by Wallet Investor – 2023
In 2023, Wallet Investor forecasts BCH minimum price to be $543.95. Its maximum price will be $670.46 and $559.51 as its average price.
Based on their forecast system, Bitcoin Cash will maintain this range throughout next year (2023).
DigitalCoinPrice bitcoin cash price prediction – 2024
The Bitcoin Cash price prediction from DigitalCoinPrice in 2024 states that BCH maximum price will be $250.80. It suggests an average Bitcoin Cash price of around 238.91, with a minimum price of $218.21.
TradingBeasts BCH Price Prediction – 2025
According to TradingBeasts’ Bitcoin Cash price prediction, the token will witness a maximum price of $264.103. Based on its technical analysis, BCH average and minimum prices will be $211.282 and $179.590, respectively.
Bitcoin cash price prediction by DigitalCoinPrice
DigitalCoinPrice forecasts that the maximum price of BCH in December 2026 is $332.33. According to data, its minimum and average prices will be $289.49 and $310.93, respectively.
It further predicts that the token's price will reach a maximum price of $374.27 in 2027. Its average price should be around $350.23, with a minimum price of 328.47.
Price Prediction By Margex
Investors can understand the market with Margex in-depth crypto analysis traders and bitcoin cash price prediction. However, this is not investment advice. You must do your research for bitcoin cash prediction. Many factors contribute to price movements, even negating advanced crypto technical analysis.
From the price data available, bitcoin cash has been fluctuating in its price movement. There have been highs and lows in the price history. The current price of BCH stands at $110.35, recording a 0.755 increase in 24 hours.
Bitcoin cash was worth $431.24 as of December 2021. The general bearish trend in the crypto market fell to $114.63 as of August 2022.
Despite the seeming downtrend, bitcoin cash might rally and go on a bullish run.
This chart from TradingView shows bitcoin cash price movement in the year 2022. From January to July, a strong downtrend was recorded. A brief rally between July and August led to a bullish run (uptrend).
From September up till October, the price of BCH is currently in a sideways trend. The coin can record gains by rallying to the level of the lower high on this chart.
However, if there are strong bearish forces in the market, the price could go down on the chart.
Cryptocurrency has made transactions and investments much easier to handle across platforms. Crypto can be stored by staking for yields. You can also put your coins to good use by trading on a good cryptocurrency exchange.
It is advisable to fully understand the risks associated with trading due to sharp price actions and possible trend reversals. There are also scam projects, especially among altcoins, with pump-and-dump schemes leaving investors high and dry.
Margex offers users reliable cryptos and awesome trading tools like a detailed candlestick chart to aid trading. An example is the moving average pattern, which users can apply on a chart for a better decision. You can also trade up to 100x of your original lot size to maximize profits.
FAQ - Common Questions And Answers On BCH
The answers below will further guide your decision to understand BCH price movements better.
How high can bitcoin cash go in 2022 and beyond?
There is no specific figure for how high bitcoin cash can go. Experts, however, have predicted a range of $98 - $102 before the end of 2022 and $179.15 in 2023 to $2497.44 in 2030. Crypto experts' view on BCH price is optimistic. However, the cryptocurrency market remains a volatile space that requires thorough risk analysis by traders and investors.
Is Bitcoin Cash a good investment?
Depending on trader sentiment, bitcoin cash can be considered a good investment. However, with all cryptocurrencies, sudden price corrections can happen due to volatility. Investing the amount you can afford to lose on the coin is wise.
What will be BCH's price in 5 years?
Forecasts have predicted that the price of Bitcoin cash should range between $831.55 and $931.34 in the next five years. Predictions are made mainly by analyzing data from past performance. In the end, high volatility, market forces, and investor sentiments will determine the price movement.