With faster transaction speeds and lower fees than the original Bitcoin powerhouse, the hard fork cryptocurrency of Bitcoin Cash has a range of real world uses. Overall, this Bitcoin Cash price prediction shows that it has the potential to surge by well over 100% in value between now and 2025.
“Buy Bitcoin.It’s never too late to be honest .”― Arif Naseem
A crypto sphere is a place full of innovative ideas, opinions, and missions. But sometimes, these varying outlooks can clash. When crypto developers come to a crossroads on the future of a project, a hard fork can take place.
Bitcoin Cash was born from one of these hard forks. It certainly wasn’t the first, but it did spawn from the original Bitcoin cryptocurrency. So it’s naturally one of the most significant. As a result, it has become a staple feature of some of the biggest exchanges and brokers in the world.
Aside from its innovative features and thriving community surrounding it, there’s more to Bitcoin Cash than meets the eye. Its promising price history is one of these aspects. Today, we’re going to draw up a range of features to get an insight into its price future.
From technical insight to the opinions of well-established cryptocurrency experts, we’ll be drawing upon a range of factors to bring you the most accurate insight into what the future of Bitcoin Cash could hold. Now, let’s begin!
What is Bitcoin Cash?
Out of all of the hard forks that have occurred in the history of crypto, that of Bitcoin Cash is the most notable. It can trace its origins back to 2017 when the developers of the original Bitcoin began to split when it came to their opinions on the future of BTC.
At the time, there was a growing portion of the Bitcoin Community who held the opinion that the original cryptocurrency was straying from the path laid out by Satoshi Nakomoto for BTC to be an accessible method of making digital payments.
The original Bitcoin was seen as lacking the speed and cost-effectiveness to become an accepted form of digital currency for all to use. So to achieve the latter, a hard fork took place and Bitcoin Cash was born.
The Bitcoin community developers who designed Bitcoin Cash made it their mission to provide users with the ability to make transactions of any size both cheaper and at higher transaction speeds. In addition, they would also have the ability to enable smart contracts.
To achieve this, the developers of Bitcoin Cash managed to increase the size of the blocks in the blockchain to allow more transactions to be completed at a faster speed on their network.
For many, Bitcoin Cash solved the problems that the original BTC had. It was marketed as a functional cryptocurrency and its improved range of uses, when compared to its Bitcoin predecessor soon, gained it an active community of users.
Just a few months into its existence, Bitcoin Cash began to rise significantly in value. Its dedicated community who invested in it early enough quickly began to see significant returns on investment.
Bitcoin Cash summed up in three points
- Bitcoin Cash was formed in 2017 from a hard fork of the original Bitcoin.
- Its aim was to follow Satoshi Nakamoto’s vision of making BTC an accessible and affordable payment option for all.
- To achieve this, they increased the block sizes to allow for lower transaction fees and higher fees to make the cryptocurrency more scalable and easy to use.
Pros and cons of Bitcoin Cash
Bitcoin Cash made it its mission to be an improved version of the original Bitcoin. But as with anything, it also has its flaws. In this section of the Bitcoin Cash price prediction, we delve into the main pros and cons.
|✔️ Bitcoin Cash has significantly higher transaction speeds compared to BTC.||❌ It has limited uses when compared to other similar cryptocurrencies.|
|✔️ Higher speeds and low fees allow for it to be more scalable.|
|✔️ Compared to the original Bitcoin, Bitcoin Cash has a far lower entry price for investors to get started.|
FAQ about Bitcoin Cash
As with any well-established cryptocurrency, there are still a number of questions surrounding it. Bitcoin Cash is no exception. To provide as best insight as possible into this innovative cryptocurrency, let’s answer some of the most commonly asked questions about it.
How is BCH different from BTC?
There are quite a few differences between the original Bitcoin and Bitcoin Cash, but the main one is that the latter offers lower transaction fees and has the ability to transfer data quicker. Thanks to its maximum block size of 32MB compared to BTC’s 1MB, it’s possible for far more people to use BCH at any one time.
How fast is Bitcoin Cash?
It’s no secret that transaction speed is a crucial factor when it comes to the efficiency of a cryptocurrency. It ultimately plays a role in its scalability, functionality and widespread adoption. Bitcoin Cash is very fast. Whilst the original Bitcoin can process seven transactions per second, Bitcoin Cash is able to process an average of 116 transactions per second.
Is BCH limited?
Yes. Just like with the supply of the original Bitcoin, the supply of BCH is capped at 21 million coins. It also uses the same mining difficulty algorithm that the original BTC uses. It’s called the Emergency Difficulty Adjustment (EDA and adjusts difficulty every 2016 blocks or roughly every two weeks.
Does it have a future?
Whilst it goes without saying that BCH doesn’t have the same status as Bitcoin, it does serve a range of crucial uses and has an active community around it. Whilst the original Bitcoin is often viewed as a store of value, Bitcoin Cash is primarily used as a payment method and offers a range of practical uses to crypto users.
Since its formation in 2017, this hard fork of the original Bitcoin has been incredibly exciting. Particularly for those who invested into it at the right time. In recent months, despite the effects of the ongoing pandemic, the price journey has been a thrilling rollercoaster.
For example in 2021, the price of BCH began the year at around $296. Just ten days into Janaury, it has more than doubled in price and hit $603 per coin. A slight price drop occurred as many investors sought to cash out their gains. The price hit a low of $378. But for those that held on, the incoming rewards would be even more fruitful.
By mid-February, the price of Bitcoin Cash had skyrocketed again to $720. After another subsequent price drop, the price journey hit new highs in April when it surged to $1,110. Many thought that it simply couldn’t get any better. But Bitcoin Cash wasn’t finished yet.
By the middle of May, the price had hit a new high of $1,572 which resulted in phenomenal gains for investors who got involved at the right time. Since then, the price of Bitcoin Cash has been in a dip. But many believe this could be the perfect time for new investors to get involved before the next possible price surge. But let’s delve into this a little further as we look at the technical analysis of the Bitcoin Cash price.
When it comes to getting an insight into the potential price future of Bitcoin Cash, technical analysis is one of the best tools to use. It draws upon a range of factors from trading indicators to chart patterns in its attempt to provide the most accurate insight possible.
In 2021 alone, the price of Bitcoin Cash has soared significantly. It began the year at just over $342 but is ending the year at over $439. But in 2022, the technical analysis predicts a slight drop in price to $427. Potentially, this could be a prime chance to invest in the Bitcoin hard fork.
Why? Well, technical analysis also shows us that the price in the middle of 2022 could gain around $90 and finished the year at $517. In the year 2023, the price could potentially hit $578 by the middle of the year and enter 2024 at $682.
In 2024, it’s predicted that things could really start heating up for the Bitcoin Cash price prediction. It’s thought that the price could hit 784 sometime in the middle of the year before going on to reach further highs and entering 2025 at a price of $885. That’s an increase of over 100% on the current price.
As well as technical analysis, one of the best bets when it comes to getting a Bitcoin Cash price prediction is the opinion of well-established cryptocurrency experts. Now delve into some of the most prominent insights various industry analysts have given to the future of Bitcoin Cash.
First off, is the Youtube channel called Crypto addiction. In a Bitcoin Cash price prediction released to tens of thousands of viewers, they predicted that the price of BCH could potentially hit $20,000 per token sometime in the near future. A bullish forecast indeed.
Another bullish expert opinion on BCH came from well-established crypto Youtuber Vlad Ivanov this year. In an analysis that covered the price history and future plans for Bitcoin Cash, he predicted that it could have the potential to hit $5,000 per coin in the long term.
And last but not least is HueFin News. In a varied analysis of BCH, this primarily Youtube based news channel predicted an enormous bull run could be impending for Bitcoin Cash. Overall, its commentary corraborates with that of other expert opinions drawn upon for this Bitcoin Cash price prediction.
In summary, Bitcoin Cash is by no means the first hard fork to have taken place in the crypto sphere, but it is one of the most significant. To address commonly held issues with the original Bitcoin cryptocurrency, the developers made the leap to create a hard fork.
Their mission was to adhere to what they felt was Satoshi Nakomoto’s original vision for cryptocurrency, and they have since formed a dedicated community that also shares the same opinion. As a result, its price history has been impressive over the last few years.
From expert analysis to technical insight, this Bitcoin Cash price prediction shows us that the future of this hard fork cryptocurrency could potentially be a very bright one. Particularly for investors who buy in early enough.
Where to buy Bitcoin Cash?
Over the last couple of years, Bitcoin Cash has certainly made quite a positive name for itself. As a result, it has been listed a number of major cryptocurrency exchanges around the world. But for beginners, this option often isn’t ideal.
As well as requiring a basic level of technical knowledge to trade on an exchange, users also need security knowledge to keep their crypto safe from hackers. So for beginners seeking the best way to buy cryptocurrencies like Bitcoin Cash, a reputable brokerage is often the best option.
One of the most well-established crypto brokers is eToro. It offers the chance to buy Bitcoin Cash alongside a wide range of other cryptocurrencies. It also provides access to a range of tools that can potentially revolutionize your crypto trading experience.
From the Stop Loss tools to built-in charting software, eToro lets you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned cryptocurrency.
This Bitcoin Cash price prediction is for informational purposes only, not financial advice or investment advice. Bitcoin Cash and other digital coins on the cryptocurrency market have potential rewards and risks. Despite the positive outlook, the predicted price analysis of Bitcoin Cash on the crypto market and is not guaranteed to be a profitable investment option as a bearish trend is just as likely as a bullish trend when it comes to the price of crypto and its market cap. Anyone wishing to invest should do their own research and seek independent financial advice.