Bitcoin Cash: When Will the Bottom Be Reached?
Bitcoin Cash (BCH) was born on August 1, 2017, as the result of a hard fork from Bitcoin (BTC). The main reason that this Bitcoin spinoff came into existence was to increase the block size from 1MB to 8MB to increase the number of transactions per second (TPS). After reaching an all-time high of $4,400 in December 2017, the cryptocurrency has since lost over 70% of its value and currently trades at about $1,600. Many investors are wondering when the bottom will be reached.
The 2018 Crypto Market Crash
If you’re keeping tabs on Bitcoin cash, you might have noticed that it dropped 40% over January 2018. It’s been a tough few months for cryptocurrencies, but most experts believe that we will eventually see a recovery and healthy growth in the future. Despite these claims, most investors don’t know how to judge when a good time to invest is, especially if they’re new to investing in general. With so many factors at play and no formulaic way of determining what may be best for your portfolio, it can be difficult knowing when to buy and sell cryptocurrency. However, there are some indicators of growth (or lack thereof) that you can watch out for.
What is Bitcoin Cash?
At first glance, Bitcoin Cash (BCH) seems to be no more than a different flavor of cryptocurrency. It is similar to bitcoin (BTC), with some key differences. For one thing, it has fewer miners and operates at a larger block size of 8MB. Many digital currency purists have been wondering when BCH will bottom out, and that’s what today’s post is about—trying to predict what will happen in 2018 for BTC and its offshoot, BCH. What we discovered is that there are several things worth considering before speculating on when either coin will begin surging again in price.
Bitcoin cash price analysis
Back in December 2017, Bitcoin was still trading above $19K. Since then, it’s been a long and hard road back to earth. But there’s still some bullish energy left in crypto land. So, let’s look at what's happening with Bitcoin cash (BCH) right now and see if we can come up with a solid price prediction for 2019. Spoiler alert – not only will bitcoin cash reach new highs in 2019, but it might also give you an edge over other cryptocurrency investors.
Final Thoughts
Recent reports indicate that Google and Facebook are working on integrating support for Bitcoin, which is a sign of growing mainstream acceptance. It's possible that we've hit bottom. If you're an investor, it might be a good time to see if there are any reputable cryptocurrency-specific funds or publicly traded securities. While cryptocurrencies like Bitcoin have value for those who want to move money outside of normal channels—without a central authority monitoring its flow—we wouldn't hold our breath waiting for your $5 investment to turn into $1 million (as bitcoin did in 2017). But given that most investments resulted from speculation, some experts also say it could take another year before anyone really knows where it will go next—so maybe 2018 won't be so bad either.