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I am the future of cryptocurrencies - BCH (Bitcoin Cash).
Within 2 years, I, Bitcoin cash has proven to be a very good investment, ranking 18th among all cryptocurrencies by market capitalisation, according to CoinMarketCap. As a prosperous Bitcoin fork, BCH is predicted to grow further.
Bitcoin Cash's developers decided to change the block size to enable a greater number of transactions and improve the cryptocurrency's scalability. They, therefore, increased it from 1 MB to 8 MB.
After its creation, BCH quickly became popular. Almost 1,500 blocks were created within a month. Mining pools such as Antpool and ViaBTC recognised this cryptocurrency and routed high hashrate volumes to mine BCH.
many cryptocurrency community members, including Ethereum and Bitcoin miners, didn't readily accept Bitcoin Cash. Nevertheless, BCH has become a great investment tool. It's listed on different digital currency exchanges, including Bitstamp, Coinbase, Gemini and Kraken.
all started at about $200 for 1 BCH. Even at this rate, the cryptocurrency immediately hit the top of CoinMarketCap's charts by market capitalisation. The rate doubled the next day. The price was stable for three weeks until it rose to $1,000.
The community must have been convinced that it was an intentional rise because the price immediately fell to $700.
Today, the price of Bitcoin Cash is trading close to a yearly low, and there is hope that BCH's price will recover in the near future. This current price point indicates a good deal for buyers.
Earlier in the year, Bitcoin Cash was part of the buying pressure that affected the crypto market. After consolidating between $105 - $500 for the better part of two years on higher time frames, the price finally broke out and rallied higher. It moved over 200% from January into May 2021 to over $1,600 before declining sharply back to $469.
As it stands, the price prediction from TradingBeasts is a bit conservative for the coming years. They predict that the highest price point for Bitcoin Cash in the next couple of years could be capped at a little over $700. Price prediction for 2022 is also conservative, and BCH is expected to consolidate for most of the year.
WalletInvestor says that a long-term increase in BCH is inevitable. According to last year's forecast, the future value of Bitcoin Cash could reach as high as $819, which it did back in May 2021.
BCH prevails above fiat in some countries, especially in Australia. Forecasters rely on future projects connected with Bitcoin Cash and predict continued growth. And with the wider adoption of cryptocurrencies worldwide, we can also see a chance for better price performance in 2022.