Bitcoin Cash(BCH) has proved itself as a "good investment" reaching the 9th position among all cryptocurrencies according to Coinmarketcap. As a prosperous Bitcoin fork, Bitcoin Cash is predicted to further grow in value.
Many members of the cryptocurrency communities, including Bitcoin and Ethereum miners, do not accept Bitcoin cash. Nevertheless, Bitcoin Cash has become a great investment tool. It is listed on different notable exchanges including Bitstamp, Coinbase, Gemini,Binance and Kraken to mention just a few.
As of the time of writing this article, Bitcoin Cash was trading at $1401.92 according to the Coinmarketcap price index. The ranking is 9th position, market cap is
$26,259,134,084.09 , fully diluted market cap is $29,439,974,361.62, volume traded is $7,999,869,288.31 and maximum supply is 21,000,000 BCH.
Though it is very difficult to make a price prediction for such a volatile market, it isn't enough to conduct a technical analysis. But why? To understand this, someone really needs to incorporate human psychology and follow the latest news about all top cyptocurrencies. In the first place, the prices depend on Bitcoin- as it gains strength it stimulates growth in the market and the prices of all other coins respond swiftly. Other influential factors include latest news, investments from highly-rated companies and individuals, productivity of miners and the attitude of exchanges.
Before I talk about the Bitcoin Cash future price, let's take a look at some predictions from popular services:
Smartereum: is of the opinion that Bitcoin Cash has great chance and predicts $20,000 for the next five years price.
Trading Beasts: This firm predicts at least $5000 towards the end of 2021.
WalletInvestor: It predicts long-term increase in Bitcoin Cash price as inevitable. It equally sees the future value to be at least $5000 by end of 2021.
DigitalCoinprice: It believes that Bitcoin Cash will reach $5200 by end of 2021.
"Those are good predictions which I strongly support from my own perspective as Bitcoin Cash is still the most successful hard fork in cryptocurrency history today". The total hashrate is 2.76 EH/s. This implies that mining pools believe in the future of Bitcoin Cash and are trying to support it. From Coinmarketcap's record, daily trading volume is over $7 billion hence traders believe in Bitcoin Cash too. The Bitcoin Cash fees are very low, so it could be stable with many people doing more daily transactions. This will definitely stimulate rise in price at least. Bitcoin Cash prevails above fiat in some countries, forecasters rely on future projects hinging on Bitcoin Cash and deeply see a continued growth as the impact of the coin is rising worldwide.
From the foregoing, it can be concluded that our highly valued coin, Bitcoin Cash has a very brighter future and worth investing into by any proactive and potential investor.
Moreover, the previous technical problems faced by Bitcoin Cash is now a thing of the past as the main antagonists have been eliminated completely.
I hereby urge all the stakeholders in the cryptocurrency market to give Bitcoin Cash the best investment shot.
It is third among the relevant mined coins, and the only one that has plenty capacity. Other than that, thanks for the info and your opinion.