Exchange your crypto now
What Is the Bitcoin Cash price prediction today
AT A GLANCE
- In 2024, Bitcoin Cash price is expected to reach $703.080770839506, according to some experts
- 2025 promises to be turbulent, with prices ranging from $3.2567615755889063 to $680.9944639021393, with PricePrediction.net predicting a breakthrough leading to a price rise to $680.9944639021393
- By 2030, BCH price can hit $703.080770839506
Bitcoin Cash fundamental analysis
BCH stands for Bitcoin Cash, which is a digital cryptocurrency that was created as a result of a hard fork in the Bitcoin blockchain in August 2017. Bitcoin Cash was designed to address certain limitations of the original Bitcoin (BTC) network, particularly in terms of scalability and transaction speed.
The Bitcoin Cash fork was initiated by a group of developers and miners who were dissatisfied with the scaling debate within the Bitcoin community. This group, commonly referred to as "Bitcoin ABC" (short for Adjustable Blocksize Cap), proposed a different approach to scaling the Bitcoin network by increasing the block size.
The key figures associated with the creation of Bitcoin Cash include Roger Ver, Jihan Wu, and Amaury Séchet. Roger Ver, also known as "Bitcoin Jesus," is a prominent early Bitcoin investor and advocate of Bitcoin Cash. Jihan Wu is the co-founder of Bitmain, a major manufacturer of mining equipment, and Amaury Séchet is a Bitcoin ABC developer who played a significant role in the technical implementation of Bitcoin Cash.
Bitcoin Cash was distributed to existing Bitcoin holders at the time of the hard fork in August 2017. For every Bitcoin held, an equivalent amount of Bitcoin Cash was awarded. This initial distribution ensured that those who held Bitcoin before the fork had a corresponding amount of Bitcoin Cash.
The key difference between Bitcoin Cash and Bitcoin lies in the block size limit. Bitcoin Cash increased the block size from 1 MB to 8 MB, allowing for a larger number of transactions to be processed in each block. This change was intended to reduce transaction congestion and lower fees, making Bitcoin Cash more suitable for everyday transactions. Bitcoin Cash, similar to Bitcoin, has a target block time of 10 minutes. This means that, on average, a new block is added to the blockchain every 10 minutes.
Bitcoin Cash shares many similarities with Bitcoin in terms of its underlying technology and principles. It utilizes a decentralized peer-to-peer network and employs blockchain technology to secure and verify transactions. It also uses a proof-of-work consensus algorithm, known as mining, to validate transactions and maintain the integrity of the network.
Initially, the block reward for Bitcoin Cash was set at 12.5 BCH per block, but it undergoes a halving approximately every four years, reducing the reward by half. The most recent halving occurred in April 2020, reducing the block reward to 6.25 BCH.
Bitcoin Cash supports a scripting language similar to Bitcoin, which allows for the creation of smart contracts and the implementation of more complex transaction conditions. The scripting language is based on a stack-based processing model.
To ensure compatibility and prevent transaction replay attacks between the Bitcoin and Bitcoin Cash chains after the hard fork, Bitcoin Cash implemented a replay protection mechanism. This mechanism ensures that transactions on one chain are not valid or executable on the other chain, reducing the risk of unintended actions.
Bitcoin Cash introduced a new address format to differentiate its addresses from Bitcoin addresses. Bitcoin Cash addresses typically start with a "q" or "p," while Bitcoin addresses start with a "1" or "3."
Bitcoin Cash utilizes the Difficulty Adjustment Algorithm (DAA) known as the Emergency Difficulty Adjustment (EDA). The EDA algorithm adjusts the difficulty level of mining based on the number of blocks mined within a certain timeframe. This mechanism helps maintain a consistent block production rate, even if there are significant fluctuations in the network's hash rate.
The BCH token has a limited total supply, capped at 21 million tokens.
Bitcoin Cash transactions may incur fees, which are paid to miners as an incentive for including and validating transactions in the blockchain. The transaction fees vary depending on factors such as network congestion and the size of the transaction.
There are numerous wallets available to store, send, and receive Bitcoin Cash. These wallets can be software-based (desktop, mobile, or web) or hardware wallets that provide offline storage for enhanced security.
A growing number of merchants and online businesses accept Bitcoin Cash as a payment method, including online merchants such as Overstock.com, eGifter, and Newegg, travel agencies and websites such as CheapAir and Travala, some restaurants, cafes and food delivery services, for example, certain Subway and Burger King branches in Venezuela and takeaway platforms as Takeaway.com and Delivery Club.
Payment processors and service providers enable businesses to integrate Bitcoin Cash payments into their platforms, making it easier for customers to transact using BCH.
Bitcoin Cash live price chart
Since July 2022 the price of Bitcoin Cash stayed rather stable just like in recent years. In the middle of July to buy BCH traders paid around $120, but then the value of the asset grew a little bit, reaching $152, but was corrected in a matter of days and dropped to the level of $140, establishing a downwards trend that lasted till the end of August. Even though the price of Bitcoin Cash was declining, the token didn’t experience much loss.
For the next 3 months, the price of Bitcoin Cash was at around $120, without much movement in the price chart. Till the beginning of November, the BCH price chart was fluctuating between $107 and $123. On November 10 the BCH token price dropped to $89 but recovered to the level of $103 in a matter of days. At the end of November the value of BCH grew even more to $115 and stayed trading for around this price till the middle of December. At that time the BCH price chart was moving down, but the downfall got stronger in the last 2 weeks of 2022.
By January 1, 2023, the Bitcoin Cash price reached $96, but then the situation changed a lot. On January 14 the value of BCH suddenly jumped to $125 and continued growing, reaching $135 by the beginning of February. On February 13 the value of Bitcoin Cash dropped to $123, and grew even more right after it. On February 21 to buy BCH traders paid $144. It was the highest point and from there the price of BCH started to go down steadily.
On March 10 the value of BCH went down to $111 but managed to recover shortly and went back to $135. From that point, the price of Bitcoin Cash kept declining despite the bullish signals of the other cryptocurrencies. On June 14 to buy BCH traders paid only $102.
Suddenly after a long time of relative price stability, the value of Bitcoin Cash started bullying and by June 25 it reached $213, which still wasn’t the highest point of the BCH price chart at that period.
Between the end of June and July, Bitcoin Cash (BCH) experienced an astounding surge of 100% in just seven days, attracting significant interest from investors globally. This remarkable price increase can be attributed to several factors, including the announcement of BlackRock's filing for a Bitcoin ETF and the listing of BCH on the EDX exchange. These developments played a pivotal role in driving the price of BCH to unprecedented levels. On July 1 the price of Bitcoin Cash reached $305, but from that point traders started to sell the token, making the BCH crypto price go for a market correction.
In the next 2 weeks BCH was losing its value, still remaining much higher than its average price level. On July 18 to buy BCH traders paid $249. As traders are considering selling the asset to get their gains, many analysts’ BCH price prediction indicated that it will go down even more in the near future.
Bitcoin Cash technical analysis
After the long descending wedge, in the mid-summer of 2021 Bitcoin Cash hit the support zone between $380 and $400 and bounced back, finally breaking out of the downtrend. This point can be also considered a “head” in the inverse head-and-shoulders pattern, with the second “shoulder” being a small lull in price action in the first days of August. Since then and until at least mid-August, Bitcoin Cash’s price has been continuing its climb uninterrupted, easily breaking out of the resistance zone at $545–$565 and reaching upwards of $600.
Exchange your crypto now
Bitcoin Cash price prediction
Bitcoin Cash price predictions summary
Bitcoin Cash price prediction for 2024
Bitcoin Cash price prediction for 2025
Bitcoin Cash price prediction for 2026
Bitcoin Cash price prediction for 2027
Bitcoin Cash price prediction for 2030
FAQ
Is it better to buy Bitcoin or Bitcoin Cash?
Will Bitcoin Cash overtake Bitcoin in the future?
Is Bitcoin Cash going to replace Bitcoin?
Is it worth selling BCH for Bitcoin?
Why is Bitcoin Cash not exceeding Bitcoin’s value?
Is Bitcoin Cash and Bitcoin Cash ABC the same?
How good is Bitcoin Cash?
Summary
As it can be clear from the analysis cited above, Bitcoin Cash (BCH) projections are rather contradictory. There is no universal consensus either about positive or negative future BCH price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Bitcoin Cash projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
About SwapSpace
SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 1850 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.Exchange your crypto now
Leave a comment