Bitcoin Cash (BCH) is the seventh-largest cryptocurrency at the time of writing. Moreover, it is one of the biggest and most important forks of Bitcoin (BTC). Do you want to know more about Bitcoin Cash price prediction? Read below.
Bitcoin Cash (BCH) – Fundamental Analysis
BCH is a hard fork of Bitcoin that occurred on August 1st, 2017. It prioritizes on-chain scaling and utility as a peer-to-peer electronic cash system. Bitcoin Cash expands the size of blocks, enabling more transactions to be processed.
Basically, they created BCH to overcome two major challenges faced by Bitcoin scalability – by increasing the “block size”, BCH can process a maximum number of transactions per second when compared to Bitcoin. While bitcoin blocks are limited to just 1 MB, BCH blocks are enhanced up to 32 MB.
Similarly to Bitcoin, BCH is not in abundance, its limited to 21 million coins and it can be used as a payment option. Moreover, anyone can carry out transactions on a smartphone or computer typically less than a tenth of a cent.
Bitcoin Cash Price Prediction for 2021
During the start of 2021, BCH continued to trade at $340.56. On a bullish note, the price started to rise and reached $595.02 on 10th January. By continuing the bullish trend, the price smashed $1000 for the first time since 2018 in mid of April. Then, it woefully scrambled down for a short time and regained the lost position. Currently the price is trending below $1000 and sustained successfully. The price in the coming couple of months is expected to reach $2000 and can reach the levels in between $2500 to $3400 by the end of 2021.
Bitcoin Cash Price Prediction for 2022
BCH might continue to trade at $2134 in the first quarter of 2022. On a bearish note, the price might arrive at $1560 by the end of the first quarter. If BCH concentrates more on the improvements and developments, the price might reach $960 in the mid of May. The price might plunge if bears continue to drag the market close to $1560. Else on the bullish note, the price by the end of December 2022, BCH may trade close to $3500.
Predictions for the Next 5 Years
Bitcoin Cash will go through a number of developments in 5 years. As Bitcoin is the parent of BCH, it is certain that BCH can’t blackout. The future projects and developments might most probably link to that of bitcoin’s performance. By analyzing the roadmaps,the price is expected to rally to reach the highest levels above $5000 to $6000. However, after attaining the highest levels, the price will plunge with a pretty huge margin and trend around $2500- $3000 by the end of 2025.
Market Prediction For BCH
According to LongForecast, BCH’s price might only drop to $4144 to $5143 by the end of 2021 and reach highs in the mid of 2022. However, the bears are expected to flip the market and the price may initiate a plunge. Therefore, the price by the end of 2025 may trade in between $1830 to $2272.
Coinswitch predits an extreme bull run for the asset. According to the platform, the BCH price will hit $5891 by the end of 2025.
According to DigitalCoinPrice, Bitcoin Cash will trade at $1993 by the end of 2021 and by the end of 2025, the price will surge to $3965.55.
According to Wallet investor, the price will drop from $1396 to $1137 in the coming year.
According to primexbt, the price will follow a bull run to hit the levels above $6000 by the mid of 2022 and fall into a bearish divergence. The price may fall below $1000 in 2023 and bounce back to hit $3600 by 2025.
Our price prediction for BCH
Overall, the majority of crypto markets seem to be in a good place right now. In addition, it might be a profitable investment for the future if you plan to invest. For instance, it might touch close to $1760 to $2100 mark by the end of 2021 and surge above $4000 in the future.
So, is Bitcoin Cash a good investment? That depends on every individual investor and their plans for the coin. Judging by the long-term predictions, the situation for BCH is going to become worse before becoming better. In other words, anyone interested in holding the coin for at least 5 years without using it could possibly invest now and profit by 2025/2026. However, predictions for 2022 are not very optimistic.