With a market capitalization of $4.39 billion, a circulating supply of 18.45 million BCH, and at position five on Coinmarketcap (CMC), Bitcoin cash (BCH) is among the few Bitcoin hard forks to have made it and stayed on the top.
Its stay at the top has attracted adoptions and partnerships from reputable firms. For example, in 2019, Fanduel, a fantasy sports platform announced that it has started accepting BCH via Bitpay. BCH continues to power micro transactions in new economies while keeping the transaction fee low and allowing “permissionless spending.”
Commenting on the news, Sonny Singh, Fanduel’s Chief commercial officer noted that NFL Football being among the most watched event BCH and BTC were a perfect match for fans. Singh added:
We wanted to have the option for Bitcoin users to place cryptocurrency into their Fanduel accounts and take advantage of the daily fantasy sports games.
The popularity of BCH has led major cryptocurrency exchanges like Binance, Luno, ShapeShift, Coinbase, and bitFlyer to make it available for its customer. Apart from exchange listing and adoptions, Bitcoin Cash recently introduced a developer section to encourage more projects to be powered by the BCH blockchain.
An overview of Bitcoin Cash
Bitcoin Cash is a hard fork of Bitcoin meant to address BTC issues such as scalability by increasing the space per block from 1 Megabyte to 8 Megabytes. The increase was intended to increase the transaction speed hence making the predecessor suitable for day-to-day usage just like cash.
Since its launch in August 2017 by Roger Ver, Bitcoin Cash (BCH) has maintained a steady trajectory to prevent other Bitcoin offshoots from taking its place. Over time, BCH has undergone other improvements such as the introduction of segregated witnesses.
In 2018, disagreements within the Bitcoin Cash community led to the split of the BCH blockchain into Bitcoin Cash ABC also known as Bcash (BCH) and Bitcoin Satoshi Vision (Bitcoin SV) supported by Craig Wright. The split led to a hash power war between Ver’s and Wright’s supporters.
Currently trading at $238.06, BCH seems to have returned to its launch price of $250. The coin experienced a bull run towards the end of 2017 to reach a high of $900 with BTC changing hands at approximately $20K. However, even with the volatility of cryptocurrency prices, prediction websites and experts are still optimistic better days are yet to come for Bitcoin Cash.
Bitcoin Cash price prediction 2020
Although crypto prices are incredibly volatile and can change in a matter of minutes, prediction websites and experts don’t shy away in giving projections where the price is likely to be in weeks, months, or years to come.
It’s worth noting that cryptocurrency prices strongly react to things like new partnerships, government regulations, hacks, or speculations from a famous figure in the cryptocurrency market.
In 2020, the predictions are torn between bullish and bearish.
Here are the most notable Bitcoin Cash price projections
#1 Rover Ver
Being the biggest BCH supporter, Ver isn’t ready to dampen the mood around his love. According to him, Bitcoin Cash is likely to double its value within 12 months.
Ver argues that “there are multiple Bitcoins, just like there are multiple blockchains but only Bitcoin Cash conforms to the version of Bitcoin described by Satoshi in his white paper.”
#2 Trading Beasts
By applying linear and polynomial regressions on historical BCH price, TradingBeasts.com projects that the coin will reach an average price of $182.519 in December 2020. According to this platform, BCH’s price will see a continuous decline from August 2020 till the year ends where it will record a drop of between -14.41 and -24.66 percent.
#3 DigitalCoinPrice.com
Digital coin price has a slightly bullish BCH price forecast for 2020. The website anticipates that by the end of the year, BCH traders will buy the coin at a maximum of $557.37. Its prediction records the best months for BCH in 2020 to be March ($580.89), April ($535.82), June ($520.1), and September ($560.87).
#4 Crytpo Ground
Another bullish BCH coin price prediction projects that BCH is likely to close the year with a USD ratio of 1:797.
#5 Smartereum
The platform has a one-year BCH price forecast of $6,700. While anything is possible in the crypto space, it’s unlikely Bitcoin Cash will even come close to this projection in 2020 or 2021 considering its current price and the current market conditions.
What is the best possible price for BCH in 2020?
Bitcoin Cash is currently undergoing a shift from just promoting it for daily payments to providing the necessary support to entice developers to develop projects on the platform using Python and Java programming languages. Also, the coin is trading on Gemini and other leading global exchanges. Taking it at the doorstep of more people means more adoption, usage, and trading activities. As such, its price receives a boost making it possible to double in price before the end of December 2020.
The momentum to reach this new milestone is further propelled by the launch of a Telegram BCH tipping bot, Tipmebchbot.
Bitcoin Cash price prediction 2021, 2022, 2023
Despite an uncertain crypto market in 2020, prediction websites have given a possible glimpse into the next three years.
#1 Trading beast
Trading Beasts has provided Bitcoin Cash price predictions for 2021, 2022, and 2023. In 2021, the platform predicts that by the end of the year, BCH will be trading at a price of between a minimum $243 and a maximum of $375. Notably, the BCH price will gradually rise from an average of $172.49 in Jan 2021 to an average of $286 in December.
In 2022, the Bitcoin Cash prediction website projects that Bitcoin Cash might continue building on the gains of the previous year to reach an average of $389.82 in December 2022. On the same date, the coin is likely to achieve a high of $487.27.
In December 2023, Trading Beasts forecast Bitcoin Cash price will hit the $588.32 mark on the higher side or $400.06 on the lower side. As with the previous years, Bitcoin Cash (BCH) will be relying on the momentum of earlier years.
#2 LongForecast
For Longforecast, Bitcoin Cash (BCH) is headed to a bearish moment for the next three years. In 2021, the platform has a Bitcoin Cash price prediction of between $114 and $206. August will be the worst month in the year with Bitcoin Cash having a USD value of 114. Its best price for 2021 will be $206 and $201 in February and December respectively.
Unfortunately, Bitcoin Cash will carry the bearish effect to 2022, where it will start the year trading at $169 and close the year at $50. The decline below $100 will begin in May until December 2022. The free fall of Bitcoin Cash price will slowly start recovering in June 2023 and close the year at $114.
Bitcoin Cash price prediction in 2024, 2025, and beyond
The next four and five is a crucial period for BCH investors to watch if forecasts from crypto price prediction platforms can be achieved.
Using technical analysis, Wallet Investor projects that the price of Bitcoin Cash will reach approximately $1000 by the end of 2024. LongForecast is skeptical as to whether Bitcoin Cash will attain a significant increase in price in 2024. It even gives an 8-month Bitcoin Cash price forecast in 2024. According to this platform’s BTC Cash prediction, the coin may open 2024 trading at an average of $114. The price will have a gradual increase to reach $172 in August of the same years.
Digital Coin price gives hope to investors looking to hodl for the next 5 years. After analyzing historical data for Bitcoin Cash, the platform has a BCH price prediction of $1,063.26 in December 2025. Generally, the investors will have a good time in 2025 since the coin will be above $1,000 for the entire year except in June and October when the price will hover around $981 and $963.6 respectively.
In 2026, Digital Coin Price’s Bitcoin Cash (BCH) price prediction shows that Bitcoin Cash will maintain the upward trajectory to reach $1,305.37 by the end of the year.
Frequently asked questions
Is Bitcoin Cash a good investment 2020?
Unless you are investing in Bitcoin Cash in 2020 with the aim aiming to hold for the long term, BCH is not a good investment in 2020. Although some 2020 Bitcoin Cash predictions project a meteoric rise, a realistic view indicates BCH may not gain much in 2020. However, Bitcoin Cash (BCH) price might receive a huge boost if BTC witnesses a bull run before the end of 2020.
What will Bitcoin be worth in 2030?
Bitcoin Core (BTC) and Bitcoin Cash (BCH) differ in value, block size, and transaction speeds. Despite BCH having a larger block size and a higher transaction speed, BTC remains the king crypto and analysts are divided on the exact value of Bitcoin in 2030.
One analyst told Forbes that in 2030 “we could see $400,000 or $500,00 [per] Bitcoin as it reaches gold equivalence.” However, with a current price of $9.2K, it remains to be seen if the coin can leap to $500K within a decade.
Should I invest in Bitcoin Cash?
Yes. From the projections, the price of Bitcoin Cash will go up in the future. Apart from the BCH price predictions, the Bitcoin Cash project is still open for new improvements. Also, the current adoptions and partnerships will start taking shape in the near future. Consequently, it will have a positive impact on BCH investors’ ROI.
Does Bitcoin Cash have a future?
Yes. Part of why Bitcoin Cash is a good investment is because it uses the same technology as Bitcoin but with significant improvements. For instance, Bitcoin Cash has considerably lower transaction fees and an improved transaction speed compared to Bitcoin.
In addition, merchants continue to add Bitcoin Cash as a payment option through payment gateways such as Bitpay. A strong signal BCH is here to stay.
BCH mining has have a higher profit margin compared to Bitcoin mining. This has caused more miners to join the BCH network, thus strengthening the BCH network. Also, developers are actively making the platform better.
Final verdict
Although this Bitcoin Cash price prediction is divided between bullish and bearish forecasts, it’s evident that in 2020, BCH will not gain much. However, between 2021 and 2023, the BCH will start gathering momentum that will propel it to a price of above $1,000 in the next five years. This makes buying and holding for the long term a good investment decision. It must be noted that the above Bitcoin Cash price predictions are calculated using different metrics. Therefore, their accuracy may differ. Also, the cryptocurrencies market is extremely volatile and thorough research should be done before investing in Bitcoin Cash, BTC, Ethereum, or any other cryptocurrency.
