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Bitcoin Cash (BCH) is one of the oldest and best-known cryptocurrencies that trades on practically every crypto change since it was forked from Bitcoin in 2017.Since then, BCH price has reached an all-time high of $4,000 during the 2017 bull run.Over the past years, most of the gain was lost as the market saw heavy retracement during 2018 as it ended the year below $100.
Today, Bitcoin Cash price has exceeded the $500 mark, with a total market capitalization of over $10 billion as BCH slowly but surely prepares for another bull cycle.Trading volume frequently reached above $3 billion, meaning that it is one of the most actively traded crypto assets and that BCH deserves its spot in the top 20 largest cryptocurrencies.Therefore, let’s take a closer look at the Bitcoin Cash price forecast for the upcoming years.What is Bitcoin Cash?
Bitcoin Cash cryptocurrency was created as a result of a hard fork from the Bitcoin network in 2017.Due to an increase in popularity for Bitcoin, its network got congested, sparking debates on how to solve this issue.
The idea of increasing block size limits was proposed.However, this caused a divide in the developer and miner community, which resulted in a new blockchain being split from the existing Bitcoin blockchain.
Therefore, the Bitcoin Cash blockchain was created and distributed to every BTC holder for free.
Later, in 2018 Bitcoin Cash had another fork, resulting in the creation of Bitcoin Cash and Bitcoin SV.Additionally, in 2020 a second major hard fork created Bitcoin Cash ABC.Bitcoin ABC and Bitcoin SV did not manage to gain much popularity.However, Both of these coins are still available on practically every major cryptocurrency exchange.
Since the creation in 2017, Bitcoin Cash has seen a market cap of over $60 billion during the 2017 bull run.
Right now, it trades just above the $10 billion cap and, after finding minimum price support at $200 last year, has regained some bullish momentum and returned above $500.
Just like Bitcoin mining, the Bitcoin Cash network uses ASIC miners to validate network transactions in a process called mining, with various Bitcoin miner pools distributed across the world.Due to increased block size, BCH is considered to be harder to mine since it requires more energy per block.
Additionally, BCH was first to introduce and effectively test Segregated Witness (SegWit) upgrade, which separates the transaction data to allow for more transactions to be sent at once.Another advantage that BCH has over Bitcoin is the ability to develop smart contracts by using CashScrypt.
Bitcoin Cash price history and technical analysis
Bitcoin Cash has seen huge volatility over the past weeks.
However, first, let`s take a look at what happened to the BCH price over the past years.As we can see on the long-term chart, the coin price reached $4,000 during the bull run in 2017.However, a further downside was quickly rejected, and over the first weeks of 2018, the BCH price moved significantly lower together with the Bitcoin price until support was found at the $600 mark.
From there,BCH regained some of the retracement and reached a local several day price high of $1,800.Over the second half of 2018, the Bitcoin Cash forecast price became even more bearish as analysts predicted a complete crash.
At the end of 2018 a the lowest point was finally reached at $62.What followed was a brief push higher, with a further consolidation range established between $200 support and $450 resistance, where the coin spent the second half of 2019 and 2020.
On the technical chart for BCH over the past year, we can see that the price action has turned bullish again.After breaking through resistance around $36 at the end of 2020.The price of crypto asset saw an increased demand that led to a test of the $600 mark.From there, BCH/USD retraced and retested the $360 previous resistance as support.
After some consolidation, the crypto market reversed and starting moving higher in February.
After several weeks of bullish momentum new high of around $750 was reached, which meant that a clear medium-term higher high was made.
Over the past weeks, BCH has set a new higher low at $450.From there, a failed attempt to move higher was made as the $600 mark was reached for the month.After another retest of $450 support at the end of March, BCH/USD started reaching the $600 mark again.
Therefore, Bitcoin Cash future price should look, and we can increase the forecasted Bitcoin Cash price for this year to over $1,800, where previous major resistance was met.
This, however, is just an estimate and not accurate investment advice.Bitcoin Cash price prediction: What to expect?
Overall we have an expected maximum price of $4,000 for this year as the bull cycle is just starting and there is a lot more competition currently than before.
However, there is a lot more institutional investor this time around, so accurate prediction is hard to make.
If we consider that BCH increased from $250 to $4,000 during the previous bull run, we could see similar returns this time.Last year, BCH found support around the $200 mark, meaning that we could see similar price development for Bitcoin Cash.
Much of future gains depend on the overall altcoin and BTC price development over the next year.Likely the digital currency will follow the rest of the market, which should lead towards a new all-time high later this year.So far, however, BCH/USD has lagged behind most, with substantial gains seen since the last Bitcoin halving.Market prediction for Bitcoin Cash price
As we see bullish Bitcoin price prediction for this year from every major analyst, we expect the same for BCH/USD predictions.
However, the reality is that Bitcoin Cash has not performed as well as the overall cryptocurrency market so far.
The price prediction range from negative to very bullish overall, and the future price estimates largely depend on what factors are taken into account.Therefore, let’s take a look at some of the most popular predictions around.TradingBeasts Bitcoin Cash Price Prediction
Popular BCH price prediction site, TradingBeasts has a relatively mild bullish forecast.According to them, by the end of December 2021, BCH will have a maximum price of $658, an average price of $526, and a minimum price of $447.For 2022, the targets are increased to $778, $622, and $529.Considering previous volatility for BCH/USD, this means that we should see the market practically moving sideways over the next years.
Smartereum Bitcoin Cash Price Prediction
Another site, Smartereum, predicts a much more bullish scenario for the cryptocurrency as it should reach above the all-time high of $4,000 this year to around $6,700.This is the most aggressive price prediction, however, it could be reached if the current bullish momentum continues over the next months.Crypto Ground Bitcoin Cash Price Prediction
Crypto Ground is more pessimistic for the short-term of BCH.1-year Bitcoin Cash prediction is set at $420, meaning that we should see it move sideways this year.However, for the 5 year period, they are bullish and expect the high price of $3,135.PrimeXBT Bitcoin Cash Price Prediction
PrimeXBT also estimates a similar target for 2025 of around a minimum price of $1,200 and $3,600 as the maximum, indicating a very rough and volatile movement over the next years.For this year, the estimate for BCH/USD is around $456-$850, meaning that we will not see much higher price gains and likely even a small loss.
Cryptopolitan’s verdict on Bitcoin Cash price 2021
Overall, Bitcoin Cash is still one of the best-known cryptocurrencies and is available for trading on practically every crypto exchange.
As of now, it trades above $500 and has returned above the total capitalization of $10 billion, meaning that bullish momentum has regained control over the crypto after several years of sideways momentum.
Therefore, we have a bullish price prediction for Bitcoin Cash for 2021 and expect BCH to reach the next major resistance at $1,800 by the end of this year.However, as always, it depends on the overall sentiment for cryptocurrencies over the next months.What is the future of Bitcoin Cash?
Currently, Bitcoin Cash is ranked in the top 20, and we expect it to keep increasing in price over the next years.Several additional features, such as smart contracts, are starting to be developed on the blockchain, using the CashScrip protocol.If the current popularity increase for smart contracts continue and the network keeps operating as before, we should see a bullish future for the cryptocurrency Bitcoin Cash price prediction 2025
The current 2025 price prediction for BCH is that it will reach back above the $4,000 mark.
As mentioned, several other price prediction articles mentioned even higher price targets, while others are more conservative and predict that the market will move sideways over the next years.
We are bullish for BCH overall.
When looking at the recent price moves, we can see that BCH/USD is regaining its bullish momentum from a technical analysis standpoint.Right now, BCH needs to break the local high of $770, from which we could see a quick move towards the next major resistance around $1,800.
Alternatively, if the overall crypto prices start stagnating, we could see BCH continue moving sideways for the next years as seen during 2019 and 2020.
Between 2021 and 2023, BCH will start gathering momentum to propel it to a price of above $1,000 in the next five years.This makes buying and holding for the long term a good investment decision.It must be noted that the above Bitcoin Cash price predictions are calculated using different metrics.
Therefore, their accuracy may differ.The cryptocurrency market is extremely volatile, and thorough research should be done before investing in Bitcoin Cash, BTC, Ethereum, or any other cryptocurrency.
Disclaimer.The information provided is not trading advice.Cryptopolitan.com holds no liability for any investments made based on the information provided on this page.We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/bitcoin-cash-price-prediction/.
