As a Top-5 cryptocurrency on the market, Bitcoin Cash is definitely worth keeping an eye on. Improving the original Bitcoin model, it got to the top thanks to both influential backers and grassroot supporters. In this article, we will have a look at a few price predictions to see what experts say about the value Bitcoin Cash (BCH) might gain in 2020, 2021–2024 and by 2025.
About Bitcoin Cash (BCH)
In short, Bitcoin Cash is a hard fork of Bitcoin that diverged from it in August, 2017 as a result of a long and escalated back-and-forth in the community about possible solutions to the scalability problem. BCH embodies a “larger block size” approach to the problem, which was supported by Jihan Wu of Bitmain and Roger Ver. Bitcoin Cash shares a lot of fundamentals with the parent coin but features 32 MB blocks, which lets more transactions be processed at once. ChangeHero has a beginner’s guide to BCH if you want to learn more.
Historical price analysis
Before the 2018 fork
Due to significant support from the part of the community that insisted on hard forking and despite the initial listing refusals from Coinbase and Itbit, Bitcoin Cash has started its independent journey at around $400 USD and nearing the $900 USD mark just a few weeks later. This fork was profitable for investors, since after it, not only they held Bitcoin that cost about $2.5 thousand USD at the time, but also gained a new valuable asset to their portfolio.
Unfortunately, the sharp rise did not last and BCH entered a downtrend as the investors were selling off their BCH acquired at the moment of forking.
It lasted until November, and Bitcoin Cash quickly caught up to the boom that the whole market was experiencing. During it, its price has risen to an all-time high of $4 355,62 USD on December 20, 2017. The following correction was market-wide and lasted until April, 2018, when the market briefly recovered. During a short bull market time in spring 2018, Bitcoin regained about +150% but Bitcoin Cash surged by +580% to $470 USD per coin.
After the fork
In November, 2018, the ongoing discord over scalability solutions resulted in another hard fork for the Bitcoin Cash chain, this time splitting it into BCH and BSV. Prior to the event, the price briefly spiked to $600 USD, returning to its price level before the fall of 2018, only to drop to double digits a month later.
The recovery later in 2019, or at least a few spikes, can be attributed to upgrades made in May and in November. Schnorr signatures and SegWit recovery change further improved the network’s scalability. With a painful start to the year, Bitcoin Cash performed overall decently, gaining about 30% in value and keeping the momentum into early 2020.
2020 for Bitcoin Cash so far
In March this year, following the stock market, the entire crypto market plunged, but with the exception of this dive, so far this year the performance of BCH has been quite bullish. Most likely, this is connected with BCH’s own halving that took place on April 8, 2020 and the anticipation of Bitcoin halving.
What can influence the price of Bitcoin Cash
Regular and pre-programmed miner reward slashing, also known as “halving” is one of mechanisms to keep a cryptocurrency deflationary. The previous two halvings were common for all three major branches of Bitcoin, but this year’s third halving was the first one independent from the parent chain for BCH. Just like before, this event was expected to trigger a bull market. ChangeHero has an article on the immediate impact of this event. Exactly a month later, we have yet to see the consequences, if there are going to be any.
Bitcoin Cash is being developed towards a broader market and daily use rather than to store value. The more projects actually use and build on Bitcoin Cash, the more investors come in. For example, just a few days ago a DeFi company General Protocols raised $1 million USD from investors. General Protocols flagship project Anyhedge focuses around synthetic derivatives built on the BCH network.
The increase of value can come not only from large investments but through a wider reach as well. This is why Bitcoin Cash is interested in increasing the number of businesses that accept the currency, and builds the network to make it as usable and convenient as possible.
BCH blockchain upgrades every six months on a strict schedule, May 15 and November 15 every year. The upcoming upgrade initially was going to introduce an “infrastructure funding plan”, which would essentially make miners donate 12.5% of their profits to a governing corporation. Obviously, such a proposal was met with criticism, which arguably affected the price of Bitcoin Cash more than this upgrade would in its time. The IFP is still planned for implementation, albeit with a few changes.
The Bitcoin Cash community is fairly active on r/btc, where posts such as this celebrate the value of Bitcoin Cash already has right now. They are a community far less interested in price movement than any other, but sometimes these questions are brought up, especially in the light of halving like in this post. And yet again, the BCH community seemed more interested in the consequences in the network like the decline in hashrate and miners leaving rather than the price.
Back in February, Twitter users were asked what they think about post-halving performance of Bitcoin forks, and almost seven hundred people have given a positive estimate (and/or just expressed their preference) for Bitcoin Cash.
In other news that can be found today with #BCH are quick insights into price and the unyielding debate over BTC halving — even the most avid BCH supporters are discussing it since it is expected to influence the whole market, after all.
User @Raticoin1 is giving a technical analysis of BCH price at the moment with a short-term movement prediction. They show when the price tested support levels, and based on exponential moving averages, they suppose BCH could test resistance levels, first at $265, then at $275 USD.
BCH Price Predictions for 2020
Longforecast current projections for the rest of the year do not paint a pretty picture: according to their data, the price can be expected to consistently drop throughout the year. June will open at $229 USD per 1 BCH and trade within the range between low of $206 and high of $270. The high-low range in July is expected to move upwards, but the following months will see gradual decrease in price. The minimal price for 2020 can be expected in December, as low as $153 USD per coin. By the end of 2020, a -34% change is expected, and the closing price will be just $165 USD.
In the TradingBeasts forecast at the time of writing, the situation is similar, though their projections show a start of a recovery trend by the end of the year. Bitcoin Cash price will hit the lowest point in September, traded at $139.537 USD. The average price will approach $200 in December, and it might rise as high as $249.59 USD.
Crypto Rating, who claim to be using an advanced market analysis algorithm, are currently showing the following scenario for the Bitcoin Cash price in the near future. While weekly change is not looking too bad (only +0.46%), in a month BCH might gain 34% to its value and rise to $315.34 USD. In the next 6 months, BCH price will stay at $303.19 USD. Nevertheless, in a year, the situation will correct itself and the price is going to be just a bit lower ($226.62) than it is now ($233.78 at the moment of writing).
Of course, it should be noted that every projection and prognosis made even by the most advanced algorithm is just that — prognosis. None of these numbers should be taken at face value but rather can serve as points necessary to help an investor understand a trend. Another piece of advice is to compare different forecasts to determine the probability whether some trend is even going to occur.
Bitcoin Cash Price in 2021–2024
On the one hand, Digitalcoin is one of the few historical analysis data aggregators that shows an explicitly bullish long-term perspective for Bitcoin Cash — not without fluctuations in the short-term, obviously. The following chart is made with the estimations for average price in that month.
|Highest Average Price||Lowest Average Price|
|$691.33 USD (January)||
$470.16 USD (June)
|$806.19 USD (July)||
$591.3 USD (October)
|$901.57 USD (March)||
$702.8 USD (October)
|2024||$1,038.80 USD (November)||
$864.57 USD (December)
According to this chart, the highest price at $691.33 USD in 2021 is expected in January, which will be topped only in March, 2022 at $733.68 USD. The month with the lowest BCH price in 2021 is June, when it will cost $470.16 USD. The future lows from 2023 forward will top the 2021 highs, since according to this prediction Bitcoin Cash price is not going to drop below $700 starting from November 2022. Almost too good to be true!
On the other hand, current WalletInvestor prediction for Bitcoin Cash for the following few years is just brutal:
- 2021 opens at an attractive price of $382.353 USD, only to plunge down to double digits in the same month, reaching as low as $10.479 USD and slowly making its way back to $100 by May. However, the same pattern repeats, and BCH is predicted to be trading around $45 for the rest of the year. Triple digits are barely reclaimed in December;
- But guess what: 2022 is no better. For the majority of the year, BCH will be struggling to establish consistent support at a level above $100, trading somewhere between $80 and $100. Again, triple digits are back only by the end of the year;
- In 2023 BCH will be switching between bears and bulls, with price ranges swinging from $150–170 to $180–200 USD;
- The trend will be broken in mid-2024, when the daily averages are estimated to consistently test resistance at $300. Bullish trend will revert in November.
Bitcoin Cash five years from now
Elevenews has quite an interesting formula to calculate the value of Bitcoin Cash in 2025, to say it mildly. Their guess is if it withstands the test of time and finds adoption, its price will be equal to at least hundred times of its all-time high, which makes it $43 thousand per coin. If only markets and prices followed math like that.
Many price forecast publishers give positive prospects for BCH in five years. At the time of writing, CryptoGround, for example, predicts a 1,232.32% increase from today’s price (at the time of writing), which means they estimate Bitcoin Cash to cost $3,135.0768 USD a coin. Considering that an all-time high was even higher, this is very possible!
CoinPriceForecast is more modest in their projections, but at the moment of writing they still show an +398% change, up to $1,171 USD.
BCH in the future
As far as ten or even thirty years from now, no one actually knows where the market will be. It is tough enough to try to predict for a few years in advance. In addition, at the moment we have too little data to project for that far in advance. So, in short, no analyst or algorithm can tell what the price of Bitcoin Cash is going to be in 2030 or 2050.
When considering such a long-term investment, it is better to investigate the currency itself rather than its price dynamics. Bitcoin Cash has a supportive community, infrastructure which offers a lot of room for improvement on top of those that constitute the fork. Bitcoin Cash is intended for transacting and adoption, which it achieves by having really low transaction fees and increasing the reach with integration in various payment solutions and DeFi products. These factors might play into long-term establishment of BCH on the market and its value.
Our Bitcoin Cash price prediction
Considering all the foreseeable scenarios and data we managed to round up here, it is fair to say that Bitcoin Cash might see a rise in value in the not-so-distant future. However, it is more likely to happen over time, making it a better option for long-term investments. It is also a good idea to have only a part of your portfolio dedicated to an asset, since the market is full of solid alternatives to every coin.
If you want to get your own share of BCH, ChangeHero is here to help — swap cryptocurrencies, including Bitcoin Cash, lightning fast and with no sign-ups.
We hope you enjoyed the article! What do you think about the predictions? Have some of your own you are willing to share? Feel free to do so on our social media pages: Twitter, Facebook group, Telegram and ChangeHero subreddit.
This article does not constitute investment advice or recommendation. The predictions cited in it are by no means definitive, since the cryptocurrency market is highly volatile and subject to a wide variety of factors these projections might not take into account. We highly encourage you to do your own research and acknowledge the risks you are undertaking when trading cryptocurrencies.