When every investor became inquisitive about the first-ever cryptocurrency, not many realized its shortcomings. After 2009, Bitcoin was the most buzzed word with huge search volumes on the Internet. But what pulled it back? Undoubtedly the other cryptocurrencies on the list that guaranteed to overcome Bitcoin’s setbacks.
Understanding what the world needed, Bitcoin took its step toward the same, and Bitcoin Cash entered the market, in 2017. Bitcoin cash (BCH) outshines bitcoin in terms of transaction speed and accelerates the verifications of your transaction.
Additionally, it has lower trading fees than bitcoin. The forked cryptocurrency is perfect to spend, trade, and exchange rather than hold! With PoW methodology, mining, and increased transactions, what would be the future of this currency? Join in as we decode the plausible price prediction of BCH for 2022 and the years to come!
Cryptocurrency | Bitcoin Cash |
Token | BCH |
Price | $ 189.4000 |
Market cap | $ 0.0000 |
Circulating Supply | 0.0000 |
Trading Volume | $ 0.0000 |
All time high | $ 0.0000 Jan 1, 1970 |
All time low | $ 0.0000 Jan 1, 1970 |
Potential Low | Average Price | Potential High |
$802.22 | $1045.29 | $1169.6 |
Bitcoin Cash had commenced its trade for 2022, with a price tag of $429.19. The digital asset was severely impacted by the market crash on the 5th of January. Where the price of BCH collapsed to $390. The ails continued to worsen as the price of the crypto slipped below its support at $335.54. Taking the price to its quarterly low of $264.42 by the 24th of January.
After consolidating in a narrow bandwidth until the start of February. The price rose back to $364.73 by the 10th of February. BCH’s price could not hold its levels firm for long, as the altcoin witnessed a pullback to $275.36 on the 22nd of February.
While the asset climbed back to its support on the 1st of March. Losing out on grounds pushed the coin to $269.89 by the 7th of March. After beating around the bush for the most part of the month. BCH’s price claimed its target of $388.44 on the 22nd of March. Following this, the trade for the quarter was closed at $392.09.
Bitcoin Cash (BCH) Price Prediction For Q2
The price of Bitcoin Cash’s BCH would need to gather steam from its support, to escalate to the milepost at $391.34. Rising above which could claim the $448.12 mark by the start of May. A spike in network activity and volumes, and a possible alt season could push the price to its potential high of $586.92.
That said, regular volumes with the absence of external factors could land the price at $475.46. On the downside, negative trends with a lack in volumes could drag the price down to $397.65
BCH’s Forecast For Q3
If BCH picks up the third quarter with a bullish note, the digital asset could open its doors to $658.08. An escalating move from where could take the price to its potential high of $844.93. Whilst the average price tag could be at $716.81, bearish trends could limit the price to its potential low of $545.97.
BCH Prediction For Q4
The fourth quarter could escort a notable ascend in the volumes. As social sentiments in the business could turn optimistic in light of the closure of the annual trade. This could help BCH’s price break through the barriers at $996.52. Which would ease the projection to its maximum levels at $1169.6, owing to lesser hurdles along the course.
That said, pursuing the average trade practices, the price could settle at $1045.29. In contrast, the lack of volumes and massive sell-offs could drag the price down to its crucial support at $802.22.
Bitcoin Cash’s Price Forecast For 2023
In 2023, if BCH holds the probability to ride the bull run. It is anticipated that the altcoin’s price would be pegged at its potential high of around $1846.61. If it fails to sustain then the altcoin would end up trading at around $1357.45 by the end of its annual trade. That said, a linear momentum could let the price settle at average levels of $1667.05.
Price Prediction For The Next 5 Years
The community developers have been working hard to pull off the socks for the coin. Teams of Anyhedge, Electron Cash, and many more are operating towards making the network more reliable and user-friendly. Resources cite that the teams have listed future plans which include payment widgets and financial derivatives powered by Smart Contracts.
If the network manages to fulfil the same, the futures market can turn over towards the coin helping BCH’s price strike $3866.73. Conversely, the coin has been highly volatile and might keep investors with FUD away. Also, a possible similar market crash, with Elon Musk and others debating over PoW, in the coming years. Might cause the price to hit lower at $1195.11 or below.
However, if the daily payments and transactions over the network might remain unaffected. With slight buying and selling pressures, the BCH price may move to $2074.84.
Year | Potential Low | Potential High |
2023 | $1357.45 | $1846.61 |
Next 5 Years | $1195.11 | $3866.73 |
What Does the Market Say?
Wallet Investor:
According to Wallet Investor’s forecast, the digital asset might close its trade for 2022 at its potential high of $1197.510. The analysts from the firm expect BCH to close the annual trade with a minimum price of $419.878. That said, the average price target is set at $798.544. The firm pins maximum price targets for 2023 and 2025 at $1366.750 and $2135.770.
Digital Coin Price:
Digital Coin Price expects a rather linear price projection. The firm expects the BCH price to reach its maximum trading price of $467.81 by the end of 2022. Digital Coin Price has set average closing targets for 2023 and 2025 at $500.11 and $638.91 respectively.
Gov.Capital:
The firm pins a fairly bearish outlook for Bitcoin Cash. According to the analysis, the price of BCH could close the trade in 2022 with a price of $125.1706. Meanwhile, the maximum year-end target for 2023 is set at $124.707.
Click here to read our detailed price prediction of Fantom (FTM)!
Bitcoin Cash (BCH) is a hard fork of Bitcoin that occurred on August 1st, 2017. After the advent, the network rewarded every Bitcoin holder with an amount of BCH. With just duplication in the original blockchain, it successfully prioritized 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, BCH was created to overcome two major challenges faced by Bitcoin. Namely scalability and transaction fees. The forked currency is capped at $21 million, just like Bitcoin. By doing so, the network ensures value for every holder, putting down inflation rates to the minimum. The network also mentions that BCH supports token protocols and with this, it would be straightforward to create token-backed projects!
Fundamental Analysis
Though designed to be sectioned from Bitcoin, BCH uses a similar technology and consensus mechanism and works almost like BTC. The platform works with a peer-to-peer node network and initially started with EDA as a mining algorithm. Following discrepancies in the system, the EDA was modified making mining easier.
The revised update also began to use the SegWit of Bitcoin, with which the data congestion on blocks was resolved. In 2019, BCH partnered with Fanduel, a popular Fantasy sports service. With the partnership enabling football fans to make deposits using BTC and BCH. The adoption grew in folds, taking the count to 100s of projects, platforms, and services on BCH.
From Defi and Smart contract solutions like Detoken, Anyhedge, and Smart BCH, to Developer tools like Mainnetcash, Cashscripti, and Fullstack, amongst others. Bitcoin cash has stayed true to the promise of being the World’s best money!
Know Our Bitcoin Cash Price Prediction
As Bitcoin Cash grows to an even better consumer cash, we can expect the price of BCH to soar to greater heights. That said, according to Coinpedia’s formulated Bitcoin Cash price prediction. The coin’s price may strike a maximum of $1170 by the end of 2022. If the Bullish plans are revealed to become a reality.
However, the price of BCH might entangle into a downtrend again, if it falls prey to negativity and FUD. This could lead the price to its potential bottom of $800 by the end of 2022. That said, regular trade pressures could settle the price at $1050.
BCH Historic Sentiments
2017
Initially, when introduced, BCH was trading at nearly $250. The price was continuously moving in the uptrend reaching $4091, which has been the highest price. In November 2017, the BCH price hit a temporary level of price resistance at approximately $1,700.
The break above the resistance lead to an accelerated move toward higher BCH prices. But a crash in the market towards the end of the year took the price to $2557.
2018
The year 2018 had commenced on a bearish note, which led to the coin sloping down to $898.55 in February. Nevertheless, the coin gained momentum back with a bullish trend at the beginning of Q2 reaching a trading value of $1726. Further, by the mid of Q2, the price suffered a downtrend to $640.
In November of 2018, a hard-fork chain split of Bitcoin Cash occurred between two rival factions called Bitcoin ABC and Bitcoin SV. On 15th November Bitcoin Cash ABC traded at about $289. And Bitcoin SV traded at about $96.50, down from $425.01 on 14 November for the un-split Bitcoin Cash. The bearish trend continued further in Q3 and Q4 reaching the lowest value at $160 by the end of 2018.
2019
At the beginning of 2019, the coin was trading at $165.33. During Q1, there was not much variation in the price, however, there were minute pumps and dumps. At the beginning of April, the coin enjoyed a bullish trend to $302.31. However, the resistance remained within $300 and the price surged again to $488.34 by the end of June.
2020
2020 for BCH began on a bearish note, the cryptocurrency was trading at around $190 per coin. However, BCH was bullish for most of the first quarter. The price grew from the sub-200 level to surpass $300 by March. To further accelerate the Q1 gains, BCH progressed to $400 by the beginning of February and later to $500 by mid-month.
A sharp price decline in March led the BCH to crash to around $150. The crash proved fatal and BCH is still recovering from the loss accrued. BCH rose to $246.90 by the end of April and climbed to $265.65 by the start of May.
With certain price swings, BCH spiked to $308.14 and further plunged to $261.27 by the end of October. As the expansion of Bitcoin’s price rally, BCH surprisingly rose to $340.60. And continued trading at $354.95 at the end of December 2020.
2021
During the first half 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. The altcoin continued upward move with a swift upsurge to $1500. However, bulls failed to gain strength around the same level. Owing to the May market crash, the price experienced a heavy pull back to $651 by May end.
In the second half of 2021, the price continued to fall with no proper bullish signals. The asset further hovered around the range-bound scale between $500 and $650. However, bears haunted the rally below $400. That said, the annual trade was closed at $439.19.
To read our in-depth price prediction of Avalanche’s AVAX click here!
FAQ
A: Bitcoin Cash is a hard fork of Bitcoin, that aims at a decentralized peer-to-peer electronic cash system. Without relying on any central governing authority.
A: Bitcoin Cash focuses on resolving two of the major limitations of Bitcoin, which are scalability and transaction fees.
A: The price of BCH could possibly surge to its potential high of $1169.6, by the end of 2022.
A: BCH’s price could hit the maximum trade value of $3866.73 in the next five years.