Bitcoin’s rise after El Salvador made it a legal tender has brought more attention to Bitcoin Cash (BCH). While Bitcoin's (BTC) price shot up about 13 percent in the last 24 hours to almost $36,000, Bitcoin Cash has gained 10 percent to trade at above $600. What's Bitcoin Cash's price prediction and can it reach $10,000 by 2025?
WHAT IS BITCOIN CASH (BCH) AND HOW DOES IT WORK?
Bitcoin Cash is a cryptocurrency like Bitcoin. It’s among the early altcoins or Bitcoin alternatives. Bitcoin Cash is meant to be a payment tool. The network is designed to support fast transactions at low fees.
You can use BCH to pay for purchases and many businesses accept it. You can also transfer it to other people. For example, a worker in a foreign country can send money back home to family members in Bitcoin Cash. You can hold BCH as an investment. The cryptocurrency’s value has appreciated about 80 percent since January.
BITCOIN CASH VERSUS BITCOIN
There's a reason Bitcoin Cash and Bitcoin have similar names. They have a common origin and they seek to solve the same problems—making payments easy and increasing financial inclusion.
Bitcoin Cash arose from a need to solve a major Bitcoin shortcoming—scalability. The way the Bitcoin network was designed means it can only handle a minimal number of transactions per second. As more people use the network, the transaction speed slows and the costs go up.
Bitcoin Cash launched in 2017 following a split in the Bitcoin community over scalability issues. Both Bitcoin Cash and Bitcoin have a capped supply of 21 million coins. Each has 18.7 million coins in circulation, which represents about 90 percent of the maximum supply.
With coins trading at about $36,000 currently, Bitcoin’s market value stands at $660 billion and it's the world’s largest cryptocurrency. On the other hand, Bitcoin Cash carries a market value of $11 billion with coins trading slightly above $600 and it ranks a Ty the 12th-largest cryptocurrency.
BITCOIN CASH PRICE PREDICTION FOR 2025/2026
Considering the crypto’s 80 percent gain so far in 2021, investors want to know if Bitcoin Cash's price is expected to go up. According to experts estimates, the altcoin will reach $915 a year from now, which implies a 50 percent upside to the current price. The estimates show that BCH's price will hit $1,919 in five years, which suggests a 220 percent upside potential.
the prediction that Bitcoin Cash will close 2021 at $816, which implies a 35 percent upside. So it is expected that the altcoin to keep rising in the coming years, passing $1,000 in 2022 and crossing $2,000 in 2023
CAN BITCOIN CASH REACH $1,000 IN 2021 AND $10,000 IN 2025?
Although Bitcoin Cash price predictions don’t forecast it reaching $1,000 in 2021 and hitting $10,000 by 2025, it still has a chance to hit these milestones. The altcoin’s monthly gains have averaged 16 percent in 2021. If it maintains that growth rate for the remaining months, it could hit $1,500 in 2021.
For BCH price to reach $10,000, it will need to rise 1,600 percent over the current level. If it keeps the 16 percent monthly growth rate, it would need 18 months to get there, which points to it hitting the milestone around 2023.
IS BITCOIN CASH A GOOD INVESTMENT?
Bitcoin’s dominance has largely overshadowed Bitcoin Cash in media headlines. However, similar to the original Bitcoin investors, longtime Bitcoin Cash investors are also happy. The altcoin has gained 140 percent in the past year.
THE BEST WAY TO BUY BITCOIN CASH (BCH)
Bitcoin Cash has broad support from exchanges and brokers, which makes it easily available. You can buy it on major exchanges like Coinbase, Binance, Huobi, and Gate. It’s also available on brokerages like eToro, Robinhood, and Venmo. You can buy BCH with fiat money like the U.S. dollar, euro, or pound, or convert another cryptocurrency to the altcoin.
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