Bitcoin Cash (BCH) Price Analysis

Introduction

To include more transactions in the block and increase scalability, Bitcoin Cash developers decided to increase the block size from 1 MB to 8 MB.

Achievements and highlights

The Bitcoin Cash code is based on the protocol of the first cryptocurrency.

Statistics

It all started on August 1, 2017, at about $200 for 1 BCH, and even with this value, the cryptocurrency immediately reached the top of the Coinmarketcap rating. The next day the price doubled. At first, the stock index was stable, but after three weeks it rose to $1,000. Users seem to have decided that it was an artificial increase because the price immediately fell to $700.

Technical analysis

TradingView technical analysis on Bitcoin Cash based on the most popular technical indicators: Moving Averages, Oscillators, and Pivots. During the last month, it is seen that out of eight Oscillators, 6 are Neutral, 0 is indicating Buy action, and 2 are stating Sell action. Most of the Moving Averages are stating Strong Sell action. All in all, the Summary states that with BCH/USD pair the dominant action is Sell. reflects

Price prediction

WalletInvestor Price Prediction

WalletInvestor analysts believe that a long-term fall in BCH is inevitable: the value of Bitcoin Cash may fall to $125. Moreover, they believe that BCH is a bad long-term (1-year) investment. Moreover, BCH will not be able to replace Bitcoin shortly.

LongForecast Price Prediction

LongForecast provides a mostly negative forecast for BCH prices in the coming years: by the end of 2020 the price will drop to $166, and 2022 will be the worst for Bitcoin Cash as BCH will fall to a historic low of $36, and only after that will it rise to $200 in 2024.

DigitalCoinPrice Price Prediction

Unlike LongForecast, DigitalCoinPrice gives the most positive BCH price forecast. They believe that the index of this cryptocurrency will grow rapidly: in 2020, Bitcoin Cash will rise to $500, and in 2025 it will reach the highest level — $1084 for 1 BCH.

Trading Beasts Price Prediction

Trading Beasts predicts a minimum price of $145 and a maximum of $213 at the very end of 2020. By the end of 2022, the price will be at least $341 and a maximum of $501 for 1 BCH.Plans

Plans

With the development of digital literacy of the population and the obvious failure of the bank transfer system, the popularity of Bitcoin Cash will only grow. But can Bitcoin Cash replace Bitcoin, becoming the number one cryptocurrency? If the Bitcoin Core team does not solve the scalability problem, then soon users will begin to switch to the best alternative — BCH.

  • Merklix-Metadata Tree (scalable block processing);
  • UTXO Commitment (blockchain pruning);
  • Adaptive Block Size (market-driven growth to 1Tb clocks);
  • Fee Improvements (cheaper transactions);
  • Pre-consensus (near-instant security for merchants);
  • New Transaction Format (more capable, more compact).

Experts say

Disclaimer

Be aware that cryptocurrency is a highly risked asset that may rise and drop according to external obstacles. Before investing in any cryptocurrency or selling any cryptocurrency you possess, we advise you to check every information possible. We tried to collect the most relevant information for your convenience, but it is only your choice and decision whether to buy Bitcoin Cash or not. Do not invest money in any sort of business you can’t afford to lose, and listen to your common sense.

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