Bitcoin Cash has shown to be a decent investment in the last two years, ranking 18th among all cryptocurrencies by market capitalization. BCH is expected to grow as a successful Bitcoin fork. But first, let’s take a look at Bitcoin Cash’s history.
Bitcoin Cash is a Bitcoin fork. Imminent miners, developers, investors, and users opposed to the SegWit2x consensus decided to create it in August 2017. Now it’s a peer-to-peer payment mechanism – a coin for everyday transactions.
The creators of Bitcoin Cash changed the block size to allow more transactions and increase scalability. So they made it 8 MB instead of 1 MB. BCH soon gained popularity. A month produced nearly 1500 blocks.
Notably, Ethereum and Bitcoin miners refused to accept Bitcoin Cash. Regardless, BCH is an excellent investing instrument. It’s traded on Bitstamp, Coinbase, Gemini, and Kraken.
It began at around $200 for 1 BCH. It put the cryptocurrency on top of CoinMarketCap’s market capitalization charts. The next day, it doubled. Three weeks passed before the price jumped to $1,000. Because the community was persuaded it was a deliberate increase, the price dropped to $700.
Today, Bitcoin Cash’s price is nearing a yearlong low, but there is optimism for a quick recovery. Buyers can get a decent offer at this time.
Bitcoin Cash was part of the crypto market’s buying push earlier this year. After two years of consolidation between $105 and $500, the price suddenly broke out and soared higher. From January to May 2021, it grew over 200 percent to over $1,600 before plummeting to $469.
Before recovering over 100% and facing resistance at $800 on September 6, 2021, the price found support around $400. It fell inside that range but recently rejected that support.
Price Predictions of Bitcoin Cash (BCH) in 2020, 2021, 2022, 2030
Smartereum believes Bitcoin Cash is failing to ascend. Why? Because Bitcoin found scaling answers with SegWit and the Lightning Network (LN). They increased Bitcoin’s throughput, causing Bitcoin Cash to plummet. Smartereum still believes this cryptocurrency has a shot, predicting fresh highs above $6,000 by early 2022. Their 5-year forecast is $10,000 for 1 BCH.
TradingBeasts’ price forecast for the coming years is modest. They estimate a peak price of over $700 for Bitcoin Cash in two years. In 2022, BCH is likely to consolidate for most of the year.
Long Forecast is still negative regarding BCH’s price in early 2022. They forecast a drop below $300 in the first quarter of 2022, followed by a modest recovery to where it presently trades. The price isn’t likely to reach the high of 2021 ($800) for a long time.
WalletInvestor predicts a long-term rise in BCH. According to last year’s projection, Bitcoin Cash’s future value might reach $819 in May 2021. WalletInvestor’s outlook for 2022 is cautious, but their BCH price projection for subsequent years will delight investors. They expect BCH to grow at least 100% every year starting in 2023.
DigitalCoinPrice has forecast a highly successful decade for Bitcoin Cash. They expect Bitcoin Cash to sell above $900 in 2022 and $1,500 in 2025.
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