Bitcoin Cash Price Prediction
Bitcoin Cash Price Prediction 2021, 2022, 2023, 2024, 2025
Bitcoin Cash is at its highest price level since 2018. The cryptocurrency has seen a surge in price since the start of the year. Despite some volatility, the overall sentiment is very bullish.
Bitcoin Cash has also received public support from crypto experts like Roger Ver, who believe that Bitcoin Cash is the next big cryptocurrency. The latest rally is a result of a very public endorsement by Kim Dotcom, the founder of Megaupload.
Bitcoin Cash has outperformed most cryptocurrencies over the past few months, so let us take a look at the Bitcoin Cash price prediction for 2021 and beyond. Let us take a quick look.
What is Bitcoin Cash?
Bitcoin Cash came into existence in 2017, when Bitcoin underwent a hard fork. The hard fork was initiated because a group of miners had concerns about the future of Bitcoin. The developers and miners doubted Bitcoin's ability to scale and were concerned about the slow transaction speeds on the Bitcoin network.
With the number of users on the Bitcoin network growing, the time taken to verify and process transactions kept increasing. Bitcoin could process only around ten transactions per second, with each transaction taking ten minutes to be confirmed. Despite the increase in the number of users and the number of transactions, Bitcoin's ability to process transactions remained the same, resulting in frequent bottlenecks on the network.
The developers and miners realized that they could solve the problem in two ways. They could increase the block size so that more data could be processed or reduce the amount of data in each block. This would make transactions on the network quicker and cheaper. However, they could not reach a consensus, and thus, some developers and miners initiated a hard fork, and Bitcoin Cash was created.
Bitcoin Cash has its own blockchain and an increased block size of 8MB. The increased block size helped reduce transaction times as more data could be processed. It also reduced transaction costs.
Bitcoin Cash Price History
Before looking at Bitcoin Cash price predictions, let us look at the cryptocurrency's price history and how it has changed over the years. Bitcoin Cash started with a price of $509 in July 2017. The price quickly fell, and by the first week of August, the price had dropped to $209. This volatility persisted even though Bitcoin Cash saw its first significant rally when the price shot up from$295 to $828 in less than a week. It could not maintain this price level and quickly fell to $314 by 14th October 2018.
However, after this slump, Bitcoin Cash went on a record-breaking rally that saw the cryptocurrency achieve its highest price. A price that still hasn't been breached until today. The rally started on 8th November 2018, when Bitcoin Cash rallied from $605. By 11th November, Bitcoin Cash was trading $1366. The cryptocurrency's price doubled in a matter of days. It fell back to $913 by the middle of November but picked up again. The currency was trading at $1702 by 26th November 2017.
The price then further rose to $1970 on 14th December 2017 before rallying spectacularly and reached its highest ever price of $3785 on 20th December 2017. However, Bitcoin Cash could not hold this price and fell under $3000 on 10th January 2018 when its price was $2988. Post this, Bitcoin Cash's price saw a gradual fall, and by the end of January, it had fallen back to under $2000 once again. By February, Bitcoin Cash's price went below $1000 and was at $918 by 6th February 2018.
The price rallied briefly and broke past $1500 again in May, reaching $1769 on 7th May. However, it could not hold this level and fell back again. By the end of May, it had fallen back to under $1000, trading at $888. Bitcoin Cash remained under $1000 for all of 2019, with its price falling drastically. By 15th December, the price was down to $79. The price found some support at this level and spent the time between December 2018 to 1st April 2019 at between $100-$200.
The price then rose to $298 on 4th April and continued to increase. By the end of May, the price had reached $450. It went close to breaking the $500 price barrier, and although Bitcoin Cash came close, it could not go past $500. Instead, the price fell back down to $284. The rest of 2019 did not see much movement in the price of the cryptocurrency.
However, the cryptocurrency saw an increase in price in February 2020 when its price rose to $474 on 13th February 2020. However, again it could not hold this price, and by the middle of March, it had fallen to $149. The price stayed below $300 until November 2020, when it finally broke the $300 barrier again. Since the start of 2021, Bitcoin Cash has seen a sustained rally, driven partly due to a public show of support by Kim Dotcom.
Bitcoin Cash Price Analysis
Bitcoin Cash ended 2020 at a price of $359 and has since seen a gradual price increase. By 4th January, the price had increased to $419 and further jumped to $605 by 11th January. The cryptocurrency encountered some volatility at this point, and the price fell to $377 by the end of the month. However, the price picked up once again, and by 11th February, it had reached $494, ready to break the $500 mark.
Bitcoin Cash breached $500 in spectacular fashion when the price rose to $724 in a matter of days. Since then, the price has reencountered volatility and dropped down to $529 at the time of writing this piece. However, most analysts predict a bullish year for Bitcoin Cash.
Bitcoin Cash Price Prediction For 2021
Bitcoin Cash has undoubtedly gained prominence since the start of 2021, and most price predictions state that the cryptocurrency could see a significant increase in its price in 2021. Even though there may be a bit of volatility in the market, the general trend would be an increase in the price.
Financial experts believe that Bitcoin Cash could reach the $1000 mark by the end of 2021.
Bitcoin Cash Price Prediction For 2022
Bitcoin Cash's price will find some stability in 2022, with the volatility giving way to some amount of stability. Price predictions for 2022 vary, but crypto analysts and experts agree that it could hover around the $700 to $1000 mark in 2022. Any sudden increase or decrease in price does not seem to be on the horizon for 2022.
Bitcoin Cash Price Prediction For 2023
There are several price predictions that state that the currency could break the $1000 mark in 2023. However, some analysts believe that Bitcoin Cash could see a minor correction in its price, which could see the price come down a little bit. However, most experts are quite bullish on Bitcoin Cash, even if there is a price correction.
Bitcoin Cash Price Prediction For 2024
Most analysts agree that Bitcoin Cash's price could see a significant increase in 2024. Whether the cryptocurrency will see a sustained rally or a gradual increase in price remains to be seen. However, the overall sentiment around Bitcoin Cash will remain overwhelmingly positive.
Bitcoin Cash Price Prediction For 2025
The Bitcoin Cash price forecast states that the cryptocurrency will test new highs in 2025. It isn't expected to go as high as it did during its rally in 2017, but most analysts predict that Bitcoin Cash's price could double in 2025.
Ready to start investing In Bitcoin Cash?
What Are Cryptocurrency Experts Saying About Bitcoin Cash?
Let's look at what crypto experts are saying about Bitcoin Cash prices
TradingBeasts has gone with a conservative price prediction for Bitcoin Cash. According to its projection, the digital asset will be valued around $466-$686 by the end of 2021. However, they predict that BTC will see an increase in price over 2022 and 2023.
Wallet Investor believes that BCH will be able to go beyond $1000 over the next few years.
DigitalCoinPrice has a bullish outlook for Bitcoin Cash, with their price prediction stating that the cryptocurrency could reach $851.05 by the end of 2021. They predict that BCH would cross $1,043.66 in 2022, and by 2025 it would break the $1500 barrier, finishing the year at a price of $1,178.13.
LongForecast has a fairly negative price prediction for Bitcoin Cash. It predicts that BCH's price will pick up towards the end of 2022 but after 2023 it will gradually decline.
Bitcoin Cash Price Prediction: Conclusion
Most Bitcoin Cash price predictions have a very positive outlook for the cryptocurrency. If you consider the improvements that Bitcoin Cash has made in terms of block size and scalability, you realize that Bitcoin Cash has significant utility. This utility can have a very positive impact on the price of the currency.
Bitcoin Cash has also received public backing from cryptocurrency experts like Robert Ver and also from Kim Dotcom, further boosting investor interest. Before investing, ensure that you have done your research thoroughly, as cryptocurrencies are notoriously volatile, and the price could change at any second depending on market sentiment.
eToro – Best Broker to Buy Bitcoin Cash BCH
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
Bitcoin Price Prediction: FAQs
What is Bitcoin Cash?
Bitcoin Cash is a result of a hard fork initiated in the Bitcoin blockchain in 2017. It is another version of Bitcoin that uses new features and rules to address Bitcoin's scalability issues.
Is Bitcoin Cash a profitable investment 2021?
Most Bitcoin Cash price predictions state that the cryptocurrency's price will see a significant increase in 2021 and beyond. If you invest in Bitcoin Cash at current price levels, you could make a significant profit.
How do you mine Bitcoin Cash?
Bitcoin Cash uses the same Proof-of-Work consensus mechanism that Bitcoin uses. It can be mined using CPUs and GPUs.
How can I acquire Bitcoin Cash?
If you want to buy Bitcoin Cash, you can do so from cryptocurrency exchanges or through peer-to-peer exchanges. You can also mine Bitcoin Cash.
Will Bitcoin Cash Fail?
Bitcoin Cash may not fail. Its price may see some volatility, but it could be a robust investment asset. Most experts predict that the currency will see significant growth in the long-run.
Is Bitcoin Cash better than Bitcoin?
Bitcoin Cash improves upon some Bitcoin features like block size and transaction speeds, making it more scalable than Bitcoin. However, as an investment asset, Bitcoin is the more sought-after investment, although Bitcoin Cash is catching up.