Bitcoin Cash Price Prediction: Will BCH Reach $1000?

May 17, 2024

Price Prediction

Sean Korbett

Bitcoin Cash (BCH) is Bitcoin’s direct competitor. Its uniqueness comes from its scaling solution being the increased block size rather than Bitcoin’s SegWit or Lightning Network. Since Bitcoin’s launch, a lot of people have expressed concerns about how well it can grow. Blockchain is a revolutionary ledger-recording technology, however the Bitcoin blockchain prioritizes security and stability over scalability. Bitcoin Cash tries to tackle Bitcoin’s problems. At the moment, it can process up to 61 transactions per second, meaning that its current network transaction ceiling is much higher than Bitcoin’s. Discover Bitcoin Cash price prediction in StealthEX’s latest article.

Bitcoin Cash (BCH) Overview

With a few minor changes, Bitcoin Cash is structurally extremely similar to Bitcoin. The main distinction between the two is that, whereas Bitcoin is more of a store of value, akin to digital gold, Bitcoin Cash is intended to be the digital counterpart of cash. The block size limit, or the most data that can be contained in a block, is the main difference between Bitcoin Cash and its predecessor. Block size is important for transaction processing because it contains the transactions of a cryptocurrency. The 8MB block size limit for Bitcoin Cash has increased to 32MB, which is significantly more than the maximum block size for Bitcoin.

Because Bitcoin Cash relies on a Proof-of-Work consensus mechanism, miners have to demonstrate that they have used computer power to process and approve transactions. They must solve challenging mathematical equations in order to achieve that. A block of transactions can be verified and added to the blockchain by the first miner to do this. For each block they add, miners get rewarded with BCH currency as a block reward. Every 210,000 blocks, the block reward is halved in order to gradually decrease the quantity. Bitcoin and Bitcoin Cash have quite a few similarities but are also different in a few important areas.

The members of the Bitcoin Cash team were once active participants in the community. 2017 saw an increase in transaction fees and the emergence of network congestion as problems for Bitcoin. Bitcoin miners voted in favor of a software update to help with the scalability issues, but not everyone was satisfied with it. An early supporter of Bitcoin, Roger Ver, was among those who believed the update would move the platform closer to becoming an investment vehicle rather than a virtual money. Rather than roll out the upgrade, they intended to raise the 1MB to 8MB block size limit for Bitcoin.

A hard fork produced Bitcoin Cash on August 1, 2017. Bitcoin Cash was further awarded to all holders of Bitcoin at the moment of the fork.

Bitcoin Cash Features

BCH crypto offers a number of features within the crypto space:

1. Fast transactions. BCH transactions are well-known for their quickness. Because of the large block size, more transactions may be processed rapidly, making it appropriate for everyday use.
2. Low transaction fees. When compared to Bitcoin, BCH has lower transaction fees, making it a more cost-effective option for moving value.
3. Decentralization. Like Bitcoin, Bitcoin Cash functions on a decentralized network, which reduces the danger of censorship or control by a single person or government.
4. Scalability. BCH’s scalability features allow it can handle more transactions per second, ensuring seamless operation during peak demand periods.

Bitcoin Cash (BCH) Price Chart    

CoinMarketCap, 17 May 2024

Bitcoin Cash (BCH) Price History Highlights 

• 2017: Bitcoin Cash joined the market of cryptocurrencies on August 1st, 2017, when the crypto started trading at a price of $240. Bitcoin Cash price was then driven by a highly positive sentiment that was bringing all major cryptos to new all-time high. BCH soared to its all-time high of $4,355.62.
• 2018: In 2018, trends ceased to work in favor of pumping BCH price, so traders witnessed declines and an all-time low recorded at $76 in December 2018. The highest price for Bitcoin Cash in 2018 was $1,847, while BCH lost 90% of its value within the year-to-year change. In March 2018, Bitcoin Cash traded at around $600, going through a major rebound early in April with a 97% gain, bringing BCH value to $1,347.
• 2019: 2019 was particularly bearish for Bitcoin Cash as the crypto fell to new lows and had a hard time finding support, let alone recovering. The highest price in 2019 was set at $443 in May after a series of gains that increased BCH’s value by 66% in that month alone. The lowest yearly price is recorded at $113 at the beginning of 2019. The crypto didn’t get a chance to recover beyond May price changes, so the average price for BCH in 2019 was $255.
• 2020: In January 2020, Bitcoin Cash price went through a rebound, recording the highest value for the year at $497. However, the crypto then took a downward path, which brought it to new lows and an average price of $277. The lowest price for the year was $130. At the end of the year, BCH showed signs of bullishness with gains that brought Bitcoin Cash price above $300.
• 2021-2022: The bullish momentum continued into the next year, so BCH price was seeing returns with the highest price of $749 and the present price of $523 after a change of 55%. During 2022, the price declined to reach $100.
• 2023: In 2023, BCH fluctuated between $97 and $280.
• 2024: In 2024, Bitcoin Cash experienced a bullish uptrend, reaching $657.85. At the moment, its price fluctuates around $465.

Bitcoin Cash Price Prediction

BCH Price Prediction 2024

DigitalCoinPrice experts expect that in 2024 BCH coin’s price might go as high as $976.14 (+117%), while at its lowest point it can drop to $401.27 (-10%).

According to PricePrediction, in 2024 Bitcoin Cash will rise in price: it’s expected to cost $517.82 (+15%) at its low, while at its maximum BCH will rise to $632.09 (+40%).

Telegaon crypto experts anticipate that the minimum lowest price BCH can hit in 2024 is $721.49 (+60%) vs its maximum price of $845.19 (+88%).

Bitcoin Cash Price Prediction 2025

DigitalCoinPrice crypto analysts think that in 2025 BCH coin might reach $962.56 (+114%) per coin at its lowest point. Its lowest price might go as high as $1,164.45 (+159%).

Based on PricePrediction forecasts, in 2025, BCH’s lowest price is projected to be $771.54 (+71%), while at its highest point it can reach $895.38 (+99%).

CoinMarketCap analysts expect that in 2025, BCH coin will reach a maximum price of $915.96 (+104%), while at its lowest point it can drop to a minimum of $846.19 (+88%).

Bitcoin Cash Price Prediction 2030

DigitalCoinPrice analysts are of the opinion that by 2030, BCH crypto will rise to a maximum level of $3,029.18 (+574%), while its minimum price will drop to $3,348.88 (+646%).

According to PricePrediction, by 2030 BCH will see a lowest price of $4,625 (+930%), while at its peak it might finally reach $5,800 (+1,192%).

Analysts at Telegaon think that by 2030, Bitcoin Cash is going to reach $2,545.72 (+467%) at its peak and might trade at a minimum of $3,337.36 (+463%).

BCH Crypto Price Prediction 2040

According to PricePrediction forecasts, in 2040 BCH will reach the current price levels of Bitcoin and even go beyond them: its minimum price is expected to be $77,449 (+17,152%), while its maximum price is going to soar to $139,949 (+31,075%).

By 2040, Telegaon crypto experts expect Bitcoin Cash to reach significant price levels: $7,961.19 (+1,673%) at its lowest point vs $9,521.34 (+2,020%) at its highest point.

Bitcoin Cash Price Prediction: Experts’ Opinions

With its high transaction security and speed, Bitcoin Cash (BCH) is unquestionably one of the most attractive cryptocurrencies and has a lot of potential. With BCH whales investing $50M in two days, BCH may be heading into a new bull run.

However, there are less optimistic price predictions that pop up on the crypto market. This includes a forecast from analysts at CryptoNewsz, who think that by 2030, BCH could reach $1,841.75.

BCH USDT Price Technical Analysis     

Tradingview, May 17, 2024

Now that we’ve seen possible price predictions for BCH, let’s find out a bit more about the factors that can influence its price.

Factors Affecting Bitcoin Cash Price

Bitcoin Cash can be influenced by a range of factors. First and foremost, market demand is an important issue. Crypto prices typically rise in response to strong demand. On the other hand, if demand declines, prices might as well. Furthermore, market speculation and investor mood may have an effect on prices. The prices of cryptocurrencies can also fluctuate due to news, events, and changes in regulations. Lastly, the success of other cryptocurrencies and the state of the market as a whole may have an indirect impact on BCH pricing.

When assessing BCH coin as an investment, keep the following considerations in mind:

• Supply and demand;
• Market speculation;
• Investor sentiment;
• News, events, and hype;
• Competition;
• State of the market.
• Changes in regulation.

Risks and Opportunities

Bitcoin Cash gives on-chain scaling priority over sound money qualities, as opposed to Bitcoin, in order to facilitate faster transaction throughput at this time. Peer-to-peer payments may boost usage, which is advantageous, but there is a risk associated with relying too much on an erratic speculative asset that might not appreciate in value as quickly as Bitcoin. Higher velocities could increase volatility. Moreover, The Bitcoin Cash network is orders of magnitude less secure and more centralized than the Bitcoin network. 

Since the 2017 debut of Bitcoin Cash, the cryptocurrency ecosystem has grown significantly. Hundreds of blockchain initiatives are currently pursuing comparable objectives using different technical strategies, as opposed to their previous purpose of offering a larger transaction capacity than Bitcoin alone. To add to this, Bitcoin Cash development and mining are dependent on fewer major companies and individuals than Bitcoin, despite the latter’s goal of remaining decentralized. Over-optimization for specific interests may focus on influence concerns in the event that divisions or governance fails again. Long-term, maintaining variety is still crucial.

Despite all these challenges, Bitcoin Cash is closely tied to Bitcoin, which has allowed exchanges and wallets to easily incorporate support for Bitcoin Cash, thereby adding to liquidity and overall market awareness of Bitcoin Cash. Additionally, Bitcoin Cash has been well-funded by big names in the cryptocurrency community that were part of the original Bitcoin community.

Is Bitcoin Cash a Good Investment?

It could be. However, the fact that people still confuse Bitcoin Cash for Bitcoin or still need explanations is one of its biggest problems. The first release of Bitcoin Cash in 2017 as a fork of the Bitcoin network to raise the block size limit is the cause of this brand confusion. This can influence the blockchain both positively and negatively.

What Will Bitcoin Cash Be Worth in 2025?

Websites like PricePrediction believe that by 2025, Bitcoin Cash can rise to $895.38 per coin.

How Much Will Bitcoin Cash Be Worth in 5 Years?

PricePrediction believes that in 5 years Bitcoin Cash will reach $2,619 at its peak.

What Is the Price Prediction for BCH 2040?

According to PricePrediction, by 2040 Bitcoin Cash will reach staggering price levels: $139,949 per coin.

Will BCH Reach $1000?

DigitalCoinPrice experts believe that this will happen by the year 2025: according to them, Bitcoin Cash will rise in price to reach $1,164.45.

Is Bitcoin Cash Expected to Rise?

Experts forecasts show that slow progress is possible.

Conclusion

Bitcoin Cash seeks to realize the goal of Bitcoin’s creator, Satoshi Nakamoto, by developing a digital payment system that never uses off-chain solutions like Lightning Network. Although Bitcoin Cash is currently scaling far better than Bitcoin, it is still far from achieving the number of transactions per second needed to be taken seriously as a payment option. However, with new developments and the growing project’s popularity, BCH can become one of the widely and highly valued used cryptocurrencies.

Where to Buy Bitcoin Cash (BCH)?

StealthEX is here to help you buy BCH coins if you’re looking for a way to invest in this cryptocurrency. You can buy BCH coin privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy BCH Coin: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

• Choose the pair and the amount you want to exchange — for instance, BTC to BCH. 
• Press the “Start exchange” button.
• Provide the recipient address to transfer your crypto to.
• Process the transaction.
• Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.