Hey there, welcome to our Bitcoin Cash Price Predictions 2020!
Do you currently hold a few coins for Bitcoin Cash and want to know what the future holds for the project? Or maybe you’re wondering how high the Bitcoin Cash willingness to go in the near future?
Anyway, I got all the questions you covered!
Price Predictions for Bitcoin Cash
In BCH Price Predictions, we will start by briefly explaining the actual project of Bitcoin on cash, followed by a detailed technical analysis that you should consider before buying Bitcoin Cash.
After that, I will then discuss some of the popular predictions that have been made by some experts and influencers.
So, what are you waiting for? Let’s start by finding out what Is Bitcoin cash!
Bitcoin Cash (BCH)
According to the market cap of the coin, BCH is currently trading at $384.05 and 0.03149347 BTC to hold a market capitalization of $7:01 B. These coins are ranked in 4th with total supply outstanding 18,234,688 BCH. In writing, BCH traded 3% higher. However, analysts see a bullish surge in the near future.
Fundamental analysis for Bitcoin Cash
Bitcoin Cash (BCH) is a hard fork of Bitcoin that occurred on August 1, 2017. It gave priority to chain scale and utility as an electronic cash system peer-to-peer. Bitcoin Cash expands the size of the block, enabling more transactions to be processed.
Basically, BCH was created to address two main challenges faced by Bitcoin scalability-by increasing the “block size “. BCH can process a maximum number of transactions per second when compared with Bitcoin. Another factor is the cost of transaction fees Bitcoin around $1.31, while it was about $125 for Bitcoin Cash.
Initially, the coin was launched at a price of $250, and the next day, the price has increased by $651 per coin. By mid-month, it costs $900 at that time Bitcoin Cash has started Routing way to the top and managed to reach the milestone.
Initially, when the coin was introduced, BCH traded at almost $250. The Price continues to move in an uptrend reached $4.091, which is the highest price of the coin to date.
On top of the price of the Bitcoin Cash chart illustrates that in November 2017. BCH prices reached levels while resistance around $1.700. This price point including the Bitcoin Cash price of the An uptrend and only after the third attempt at the level of price resistance.
But at the end of the year, the market turned bearish, and thus, the Bitcoin Cash suffered great losses reach $2.557
In early 2018, the entire crypto market turned bearish. During the first quarter of Q1, coins curved downward to reach $898.55 in February 2018. Still, coins regain momentum experienced a bullish trend at the beginning of Q2 reached a trading value of $1,726. Subsequently, in mid-Q2, prices experienced a downtrend reaching $640.
In November 2018, the hard split-fork chain of Bitcoin Cash occurs between two rival groups called ABC and Bitcoin SV. On 15 November 2018 ABC Bitcoin Cash trading around $289 and SV Bitcoin trading around $96.50, down from $425.01 on Nov. 14 For un-split Bitcoin Cash.
Further bearish trend continued in Q3 and Q4 reached the lowest value trading at $ 160 at the end of 2018.
In early 2019, the coin was trading at $ 165.33. Anyways during Q1, there is not much variation in prices, however, there is a minute pump and dumps. In early April, coins enjoy the bullish trend reached $ 302.31. However, the resistance is maintained in the $ 300 and coins currently at $ 316.
Prediction Bitcoin Cash Price
Crypto highly volatile market prices and occur within a few minutes due to factors such as regulation, competition, the emergence of new technologies, market sentiment and so on. Thus, it is not easy to predict the price of cryptocurrency the 4th largest in the world.
Bitcoin Cash Price predictions 2020
2020 may prove to be an exceptional year for Bitcoin cash as we expect many innovations and developments. Bitcoin Cash community plans to test the beta Telegram tip bot “Tipmebchbot”.
This bot allows users Telegram to the end of another user using the BCH. With this development, in 2020 may surge in prices and at the end of the year, BCH may reach $ 4000 USD.
- TradingBeasts predicted that for 2020, the price of the BCH could raise as much as $ 5,635.44 and as low as $ 3,832.10.
- Roger Ver BCH believes that prices will double itself in the years to come.
- DigitalCoinPrice predicts that Bitcoin Cash will be trading at $ 500 at the end of 2020 and will increase to $ 1,100 by 2025.
Bitcoin Cash Price predictions 2025
Bitcoin Cash will go through a number of developments within 5 years. As Bitcoin is the parent of the BCH, it is certain that the BCH could not blackout.
Future projects and developments may be the most likely link to the performance of this bitcoin. By analyzing the roadmap, it is estimated that Bitcoin Cash may reach $ 5000 USD by the end of 2023,
Fanduel Now Accepting Bitcoin Cash
Fanduel is the second largest provider of fantasy sports are now accepting payments cryptocurrency. The company now enables its members to top up their accounts with BCH or BTC through Bitpay, which is a digital currency payment provider.
Bitcoin Cash Adoption Continues to Spread in North Queensland and Japan
Both Japan and North Queensland is a region that continues to see bitcoin adoption merchant cash BCH widespread dissemination. Two of the area between the highest concentration of merchant acceptance in the world besides Slovenia BCH 343 BCH merchants.
Vitalik Buterin using Bitcoin Cash blockchain
More recently, the co-founder Ethereum Vitalik Buterin. announced to use Bitcoin blockchain Cash as a temporary solution for network scalability Ethereum.
Communities have been working on Ethereum 2.0, a major network upgrade that is expected to arrive in early 2020. Buterin suggests combining other blockchains as a new option to increase the scalability Ethereum in the short term.
In particular, Vitalik claims blockchain Bitcoin Cash is a perfect match for this purpose as BCH provides a data throughput of about 53 kilobytes (KB) per second.
Bitcoin Cash halving
Analysts claim Bitcoin Cash halving will occur in May 2020. Bitcoin Cash price may increase as the number of tokens minted will be reduced to half of the amount available.
BCH Predictions For 2020
Overall, the majority of the crypto market seems to be in a good place right now. Nowadays, if you invest in BCH keeps thinking that cash will also simulate the drift in Bitcoin.
During the bearish point in Bitcoin, BCH will also move in the same short way. Bitcoin cash increased up much faster than all competitors’ market cap. A mobilized to $2000 may seem, reaching $4000 would lead to a very different set of challenges.
Long-term Price Prediction for BCH
As a result, more than 95% of the project will fail and investors cryptocurrency will lose money. The other 5% of the project will be the new Apple, Google or Alibaba in the crypto industry. BCH will be among that 5 %?
Bitcoin Cash still remains far behind Bitcoin is not only in proportional terms but also in absolute terms both as miners and consumers have overwhelmingly chosen to remain with Bitcoin.
Data show that far from filling up or even get anywhere close to the block size of 8 MB, BCH has an average of only 171 KB block size since August 2017 fork. Bitcoin, by comparison, has an average of about 934 KB to 1 MB block its capacity over the last month. In other words, BCH is utilizing only about 2.1 percent of the capacity of its block.
It seems to be an unsuccessful attempt to present the Lightning Network maturity. BTC invested in the solution layer 2 and BCH invested in marketing to trick new investors and most of the attacking BTC.
And it backfired because clearly signaled that the coin market is seen as a “real” bitcoin and which are relegated to the status of the mere altcoin.
Additionally, Bitcoin Cash network security in reorg constant threat and 51% attack as the hash rate is several orders of magnitude lower than this bitcoin.
All this shows that Bitcoin Cash has a low probability of succeeding in its original intention but not all is doom for the project.
It still can pivot into something different from bitcoin, especially as the project leader demonstrated agility in making changes from the core bitcoin camp.
This tendency to implement the changes and new features can be an advantage for BCH forward.