Bitcoin Cash is one of the bigger and more well-known Bitcoin forks. Bitcoin Cash increased the size of the blocks in the chain in order to allow more transactions to be completed, and at a faster speed.
Interestingly, the cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). This indicates the desire to keep evolving Bitcoin and cryptocurrency in general, but BCH’s reason for forking was mainly due to the 1MB block size limitation for bitcoin. Transactions queued up, waiting for confirmation, because blocks could not handle the increase in size for transactions.
In order to battle this, Bitcoin Cash proposed increasing the size of blocks to between 8 MB and 32 MB, thereby enabling processing of more transactions per block. The average number of transactions per block on Bitcoin is between 1,000 and 1,500. The number of transactions on Bitcoin Cash’s blockchain during a stress test in Sep 2018 surged to 25,000 per block.
Roger Ver is the man who has driven this fork and has been pushing the idea that it was the original creator of Bitcoin, Satoshi Nakamoto, to have a digital currency that was functional under pressure. According to Ver and Bitcoin Cash believers, the change in Bitcoin’s block size will enable Bitcoin’s use as a medium for daily transactions and help it compete with multinational credit card processing organizations, such as Visa, which charge high fees to process transactions across borders.
Technical Analysis
Technical analysis is the finance industry-standard way of predicting probabilities and outcomes based on technical signals, and patterns steeped in statistical outcomes. Because of this, they can offer some of the most accurate and compelling price forecasts for Bitcoin Cash and other crypto coins.
Bitcoin Cash Price Prediction 2021
Bitcoin Cash is a spin-off of the Bitcoin blockchain, and its price patterns are now exhibiting historic Bitcoin price action. Bitcoin Cash, on the BCHUSD trading pair is forming a long-term ascending triangle, which is a bullish price pattern.
Bitcoin Cash is moving very slowly compared to other cryptocurrencies and especially Bitcoin. This suggests that a breakout might not happen for a while and more consolidation is necessary before the triangle resolves.
Bitcoin Cash Price Prediction 2022 – 2023
Don’t be caught off guard by the below chart. To be clear, it’s a Bitcoin chart, not a Bitcoin Cash chart. The reason to show the Bitcoin chart is to show what happens in time if the same fractal plays out in Bitcoin Cash as it did in the original Bitcoin. If so, even if the triangle does break out, it should fall back to the trendline, completely retracing the entire move.
Bitcoin Cash Price Forecast 2024-2025
Forecasting the price of any asset this far ahead of time is entirely an approximate and is difficult to get totally accurate.
Only after the retest of the ascending triangle will Bitcoin Cash be able to reach its measured move target of $3,500 per coin, which still falls short of the coin’s former all-time high.
What is the Future of Bitcoin Cash?
Year Price
2021 $456 – $850
2022 $850 – $1,200
2023 $456 – $1,600
2025$1,200 – $3,600
The future of Bitcoin Cash is an interesting one as the coin was created to be the next version of Bitcoin and looked to address its shortcomings as a currency. However, the way in which Bitcoin has evolved has made it more popular as an asset rather than a currency.
In saying that, the desire to have cryptocurrencies act more like functional currencies is growing. Bitcoin Cash has the name and history of Bitcoin and can be looked as the next version of the coin after it forked.
However, the way in which Bitcoin Cash has operated since August 2017 has been full of controversy. Many people do not appreciate how the focus has not been made about advancing the coin but rather about denigrating Bitcoin.
In saying that, Bitcoin Cash does offer a great opportunity for investors and traders to make money because of its volatile nature and potential to come more into the discussion as the years go on and the need for a more functional Bitcoin.
In order to take advantage of Bitcoin Cash and start investing and trading in cryptocurrency, it is worth looking for a platform that suits. One of the more rounded and easy to use platforms that offers the chance to trade and invest in cryptocurrency is PrimeXBT. This platform has won awards for its simple user interface as well as its bank grade security.
My price prediction is very simple, $100,000,000.00 that is 100 million dollars by 2050. Well BCH is in my opinion the real Bitcoin and as such the first thing that it will happen that it will reach 1:1 value and after a while it will go beyond that. I think that eventually everyone will see Bitcoin Cash as Bitcoin and the real Bitcoin because it actually works as describe in the white paper. And because day by day the numbers of users is growing.