reasons behind the Bitcoin Cash Price hike recently

Bitcoin Cash Price Prediction - How High Can BCH Go?

Bitcoin Cash is a cryptocurrency that was created from the split of Bitcoin. It is an altcoin created in 2017. Bitcoin cash allows a more significant number of transactions in a single block than Bitcoin, and therefore, it lowers fees and transaction time.

Bitcoin cash is designed as a cheap payment system. The transaction fees are generally less than $0.01. An active community of developers created it.

Bitcoin cash was forked from Bitcoin, which means a change in a blockchain protocol or a basic set of rules that creates a new blockchain.

In the case of Bitcoin Cash, the community created a better cryptocurrency than Bitcoin for everyday payments.

What future does Bitcoin Cash Hold?

We have listed out the BCH price forecast year-wise to give you the correct idea about its future.

Bitcoin Cash (BCH) Price Prediction- 2024 (The 4th Halving year) 

2024 seems promising for Bitcoin cash as it includes the occurrence of the 4th Bitcoin halving event. The year is also anticipated as an alt-coin season.

These conditions favour the price of Bitcoin cash, and it is predicted that in its bullish phase, the coin will reach a peak of $507. The average price of the currency would be around $468, and it could touch the low of $429 by the end of the year.

Bitcoin Cash (BCH) Price Prediction-2025 (The potential increase)

In the year 2025, Bitcoin cash could face fluctuations, but at the same time, it will experience some growth. The highest price would be $711, and the lowest would be around $592. On average, the cost of Bitcoin cash will stabilize at around $651.

What will Bitcoin cash be worth in 2030?

By 2030, the crypto market will enter a transformative era, building a new phase for this market. By the end of 2030, the average price of the token would be around $791, while its minimum price would be around $746.  Bitcoin cash could even make a high of $807.
If a bullish rally occurs in 2030, the price of Bitcoin cash might experience an upswing than the predicted price.

Bitcoin Cash (BCH) Price Prediction-2040

If Bitcoin cash is held for an extended period, it can bring more joy to investors as it contains significant potential. Bitcoin cash may reach its all-time high. The prevailing market trend could make its price lower to $1142. The average price would be around $1821, while the highest would be around $1861.

Why is Bitcoin Cash so cheap?

There are several reasons behind the low price of the coin. 

  1. Problem with mining:  BCH, though carved out of BTC, mining has been consistently lower than Bitcoin. Mining Bitcoin cash is less profitable for miners, which shifted their focus. The profit margin from mining Bitcoin cash is relatively narrow compared to other options.

  2. Fall in trade: At the beginning of Bitcoin cash, investors used to trade Bitcoin cash and Bitcoin directly. However, in the current scenario, there are fewer direct trades between these two currencies. Tether completely changed the game as it maintains a stable value, as investors do not want to experience significant fluctuations. Today, Tether trading constitutes 75% of Bitcoin cash trading volume. The growing popularity of Tether significantly lowered the value of Bitcoin cash.

Bitcoin Cash's upcoming halving

Bitcoin cash halving is an event that happens every four years, and the primary purpose behind this event is to have the mining profits that Bitcoin cash minors make.

The first and single-halving event happened back on 8th April 2020. The Bitcoin cash halving event coincided with that of Bitcoin.

It is important to note that the halving event does not depend on any occasional date. Instead, it depends on the block height. For Bitcoin and Bitcoin cash, the halving event happens after every 210,000 blocks.

The first halving of Bitcoin cash was initiated at 630,000 blocks. The second halving is scheduled to happen in 2024.

Is Bitcoin Cash worth buying?  

Many crypto experts suggest that the price of Bitcoin cash will continue to grow. Bitcoin Cash has a token supply of 21,000,000 Bitcoin tokens, which is quite a fair number. The technical analysis of Bitcoin cash, the recent pumping, and the upcoming halving event make it a promising long-term investment. However, it is also important to note that cryptocurrencies are not just the most profitable but the riskiest assets as well.

Which is best, Bitcoin or Bitcoin Cash?  

  1. When it's  Bitcoin vs Bitcoin cash, Bitcoin cash holds a more significant advantage due to its ability to process transactions faster than the Bitcoin network. It processes transactions faster, resulting in lower transaction fees for Bitcoin cash users. Bitcoin cash network handles a higher capacity to generate a greater number of transactions per second than Bitcoin.

  2. Due to its larger block size, Bitcoin Cash also holds the possibility of compromising security. 

  3. It is also important to note that Bitcoin maintains the status of the world's most widely adopted cryptocurrency, and it is the largest token in terms of market capitalisation.

  4. Bitcoin also holds the edge as it is liquid and has a real-world utility than Bitcoin cash. 

  5. In the ongoing Bitcoin vs Bitcoin cash battle, Bitcoin obviously holds greater strength than Bitcoin cash.

Why is Bitcoin Cash booming?

  1. Due to its launch on the EDX market, Bitcoin cash is booming because of the rising trading volume. It has also gained interest on social media. 

  2. The sudden price move also attracted various retail traders.

  3. Just after its launch, within a few months, Bitcoin Cash gained huge attention of the crypto community. It is now listed on premium exchanges like Kraken and FTX.

  4. Investors have adopted it the same way they have adopted the other currencies. Bitcoin Cash is comparatively an old project and has real use cases. It is backed by the DeFi community, which makes it trustable.

Final Words

Bitcoin cash is an altcoin that has been covered out of Bitcoin. Its faster transaction processing capability sets it apart from other cryptocurrencies. It holds a promising long-term potential. The Bitcoin cash project is one of the most popular projects in the DeFi community. Due to its adoption on various exchanges, it has gained a lot of attention from crypto traders.

Also Read: 

Bitcoin (BTC) Price Prediction

Win Harrison 05 Jul, 2023

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