Bitcoin Cash Price Prediction 2019-2025
In this article, we'll take a look at Bitcoin Cash (BCH). The Bitcoin Cash cryptocurrency appeared as a result of dividing the Bitcoin database into two independent chains. It’s now the fifth largest cryptocurrency in terms of capitalization in the world.
After that, we’ll attempt a BCH price prediction. Will the value of Bitcoin Cash go up? Let’s find out.
What is Bitcoin Cash
Bitcoin Cash appeared as a result of a hard fork, creating an alternative to Bitcoin. The decision was made when Bitcoin became so popular that programmers decided that a one MB block size was insufficient. The system was overloaded, without enough space in the blocks. The processing speed of transactions was suffering as a result.
On August 1 2017, the Bitcoin blockchain was divided into two chains and a new digital asset appeared. Immediately after its appearance on the exchanges, the new cryptocurrency was in third place by capitalization. However, after the exchanges enabled Bitcoin Cash deposits and withdrawals, the cryptocurrency began to plummet in price.
Bitcoin Cash was targeted to increase the block size from one to eight MB and enhance the number of transactions that can be processed by the network. Programmers hoped that Bitcoin Cash would be able to compete with the volume of transactions that industry giants like PayPal and Visa can currently process
The separation took place at block No. 478558. Accordingly, both versions of Bitcoin have older transactions in common, but all new transactions are different. Meanwhile, the block size of the new currency is eight MB.
Let’s take a look at the coin’s development. According to CoinMarketCap Bitcoin Cash was listed on 24 July 2017 at $555.89. BCH reached a peak price of just under $4,100 on December 21, 2017.
On April 10 2019, Bitcoin Cash ranked fifth in terms of market capitalization, at about $5.3 billion. The value of one coin was about $300. There were 17 720 513 BCH in circulation, with a max supply of 21 000 000 BCH.
The Bitcoin Cash blockchain goes through a hard fork about twice a year, to integrate scheduled protocol upgrades. All previous hard forks were consensual. However, in November of 2018, another hard fork took place, dividing Bitcoin Cash into Bitcoin ABC and Bitcoin SV. This time developers did not come to a consensus regarding the future of BCH.
What is Bitcoin Cash ABC (BCH ABC)? The Bitcoin ABC team, headed by Roger Ver, offers the following changes to the blockchain of the parent network:
1) A new operational code, called OP_CHECKDATASIG, which allows conducting cross-chain transactions.
2) The use of canonical transaction order, which will solve the issue of scalability.
3) The community’s right to choose the optimal block size (for now, they plan to leave the block at 32 MB).
Another important innovation is the possibility of non-cash transactions. Users will have an opportunity to create smart contracts on the blockchain, perhaps enabling distributed applications (DApps).
What is Bitcoin Cash SV (BCH SV)? BCH SV, led by Craig Wright, offers:
1) A larger block size of 128 MB.
2) A rollback to the original Bitcoin Cash blockchain, as it was immediately after the Bitcoin fork.
3) A coin-only payment system.
Now experts say that we are witnessing a struggle of the two largest pools for a large share in the market. It’s not yet clear which of them will become a potential successor of Bitcoin Cash.
Bitcoin Cash price prediction for 2019 by market analysts
What are the experts’ forecasts for BCH? Let's have a look! There are both bearish and bullish cases.
Roger Ver, cryptocurrency enthusiast and one of the biggest backers of Bitcoin Cash, told Cryptonews.com that it's impossible to know what the price will be as “the market is made up of millions of participants with their own needs, desires, and goals”. Refraining from giving an estimate on value doesn’t mean he does not believe in the future of crypto: “I’m incredibly bullish on the entire cryptocurrency ecosystem and Bitcoin Cash specifically”.
Dean Pappas, an advisor at networking startup Marlin Protocol, told that he expects “BCH will continue to flounder. The Hash Wars have taken its toll and the decoupling from BTC price will continue. Ending 2018 at $100”.
Analysts from Digitalcoinprice.com predict that Bitcoin Cash might go up and reach about 500 USD by the end of 2019.
Longforecast.com, a cryptocurrency prediction website, is not that positive when it comes to Bitcoin Cash price. Given the recent market changes, BCH could hit $600 by the summer, but by the end of 2019, Bitcoin Cash could be trading at about $300.
Trading Beasts are optimistic and say that 2019 might be a lucky year for BCH and its value can go up to a maximum of $544 by the end of 2019. This price projection looks unrealistic against the background of the recent hard fork and strong market volatility.
According to most analysts, 2019 will be difficult for Bitcoin Cash growth. The coin is struggling to remain relevant.
The Walletinvestor.com chart shows an accelerated increase of Bitcoin Cash price during a market-wide spike. Given the current market situation there is a bullish trend and Bitcoin Cash struggles to retake previous highs. On April 10 2019 Bitcoin Cash is struggling for $300. Eventually, if the current bull run continues we can expect a potential goal near $400.
Bitcoin Cash price prediction 2020
Longforecast.com analysts are bearish about the price of Bitcoin Cash. According to the website, this coin will hit about $160 by the end of 2020. They predict that the cryptocurrency will drop almost half its current value.
Experts from tradingbeasts.com are more optimistic about the price of BCH. They believe that the value would increase by 1,113 per cent by the end of 2020. They expect the projected price in 2020 will reach $ 3,719.
Cryptoground.com uses a proprietary deep learning algorithm, trained on the historical data of BCH. Based on the historical value inputs the system predicts that in 2020 Bitcoin Cash will be trading just below $700.
Bitcoin Cash price forecast 2025
According to coinpriceforecast.com, Bitcoin Cash will start at $1,044 in 2020 and finish 2025 at $2,746, which is up 163%.
Analysts from Digitalcoinprice.com are not that positive about Bitcoin Cash, according to the website’s prediction, BCH can reach prices around $1,357 by 2025.
Theoofy.com gave us the most optimistic forecast for Bitcoin Cash. According to their price prediction, Bitcoin Cash can hit 6000$ per one coin within five years. Although with such volatility rate, it’s hard to believe this prediction.
What is the future of Bitcoin Cash?
Opinions are strongly divided on BCH. The coin is currently struggling for its place on the market, competing with both the original Bitcoin, Bitcoin SV and other tokens. Crypto experts believe that the original Bitcoin will develop faster than its forked offspring. That means the ‘older brother’ will remain a more attractive target for investors than Bitcoin Cash for a long time.
Meanwhile, Bitcoin SV is also gaining strength. At the beginning of December 2018, the two coins had almost the same value and some experts express the opinion that Bitcoin SV will become a more profitable investment than original Bitcoin Cash.
According to various forecasts of analysts Bitcoin Cash could hit $1000-$1500 by the end of 2020, and will continue to grow, but a lot depends on market volatility and demand. The most pessimistic predictions say that BCH will probably be trading at the current price.
Nonetheless, there are some analysts who believe in Bitcoin Cash and say that it will endure a bearish pressure and receive the spark it needs to trade above the bullish trend line.
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Please pay attention: various sources are used in this article. The article is written for informational purposes only and is not financial advice. Before investing, please do your own research.