Hey there, welcome to my Bitcoin cash Price Prediction 2020 guide!
Are you currently holding some Bitcoin cash coins and want to know what the future holds for the project? Or maybe you’re wondering how high will Bitcoin cash go in the near future?
Anyways, I’ve got all of your queries covered!
Bitcoin Cash price Prediction
QUICK NAVIGATION :
- Bitcoin Cash Price Today
- Fundamental Analysis
- Technical Analysis
- Bitcoin Cash Price prediction
- Recent developments
- Expert Prediction
- Our Prediction
In this Bitcoin cash price prediction guide, I am going to start by briefly explaining what the Bitcoin cash project actually is, followed by a detailed technical analysis which you should consider before looking at a price prediction.
Following that, I am then going to discuss some popular price predictions that have been made by a few experts and influencers.
So, what are you waiting for? Let’s start by finding out what Bitcoin cash actually is!
Bitcoin Cash Price Today
According to coin market cap, the coin is currently trading at $ 215.57 and 0.03149347 BTC against holding the market cap value $ 3.96 B. The coin is ranking at 4th position with total supply and circulating supply 18,234,688 BCH. As of writing, BCH is trading 3% higher. However, Analysts see a bullish surge in the near future.
Bitcoin Cash (BCH) is a hard fork of Bitcoin that occurred on August 1st, 2017. It prioritizes on-chain scaling and utility as a peer-to-peer electronic cash system. Bitcoin Cash expands the size of blocks, enabling more transactions to be processed.
Basically, BCH was created to overcome two major challenges faced by Bitcoin scalability- by increasing the “block size”, BCH can process a maximum number of transactions per second when compared to Bitcoin. The other factor is Transaction Fee- Bitcoin’s transaction fee is around $1.31, whereas it is around $0.125 for Bitcoin Cash.
Initially, the coin was launched at the price of $250, and the next day, the price has increased $651 per coin. By the middle of the month, it already costs $900. By then Bitcoin Cash has begun routing its way to the top and managed to reach milestones.
Initially, when the coin was introduced, BCH was trading at nearly $250. The price was continuously moving in the uptrend reaching $4091, which is the highest price of the coin to date.
The above Bitcoin Cash price chart illustrates that in November 2017, the BCH price hit a temporary level of price resistance at approximately $1,700. This price point included the Bitcoin Cash price from uptrending and only after its third attempt at this level of price resistance. Further, the resistance was finally broken. The break above resistance leads to an accelerated move toward higher BCH prices.
But at the end of the year, the market turned bearish, and Thus, bitcoin cash suffered huge losses reaching $2557
At the beginning of 2018, the whole crypto market turned bearish. During the first quarter of the year Q1, the coin sloped down reaching $898.55 in February 2018. But nonetheless, the coin gained momentum back experiencing a bullish trend at the beginning of Q2 reaching a trading value of $1726. Further, in the mid of Q2, the price suffered a downtrend reaching $640.
In November 2018, a hard-fork chain split of Bitcoin Cash occurred between two rival factions called Bitcoin ABC and Bitcoin SV. On 15 November 2018 Bitcoin Cash ABC traded at about $289 and Bitcoin SV traded at about $96.50, down from $425.01 on 14 November for the un-split Bitcoin Cash.
The bearish trend continued further in Q3 and Q4 reaching the lowest value trading at $160 by the end of 2018.
At the beginning of 2019, the coin was trading at $165.33. Anyways during Q1, there was not much variation in the price, however, there were minute pumps and dumps. At the beginning of April, the coin enjoyed a bullish trend reaching $302.31. However, the resistance is maintained within $300 and the coin is currently at $316.
Looking at the Technical indicators:
- Yearly MACD – The MACD for BCH/USD is gaining pace in the bullish zone.
- Yearly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the overbought levels.
Bitcoin Cash Price prediction
The crypto market is highly volatile and major price happens within minutes due to factors like regulations, competition, the emergence of new tech, market sentiments and so on. Thus, it is not easy to predict the price of the 4th largest cryptocurrency in the world.
Bitcoin Cash Price prediction 2020
2020 might prove to be a remarkable year for Bitcoin cash as we expect many innovations and developments. The Bitcoin Cash community is planning on testing a beta Telegram tipping bot “Tipmebchbot”. This bot enables Telegram users to tip other users using BCH. With this development, 2020 might the price surge and by the end of the year, BCH might reach $4000 USD.
- TradingBeasts predicted that for 2020, BCH price can increase as much as $5,635.44 and be as low as $3832.10.
- Roger Ver believes that BCH price will double itself in the upcoming year.
- DigitalCoinPrice predicts that Bitcoin Cash will trade at $500 by the end of 2020 and will increase to $1100 by 2025.
Bitcoin Cash Price prediction 2025
Bitcoin Cash will go through a number of developments in 5 years. As Bitcoin is the parent of BCH, it is certain that BCH can’t blackout. The future projects and developments might most probably link to that of bitcoin’s performance. By analyzing the roadmaps, it is estimated that Bitcoin Cash might reach $5000 USD by the end of 2023,
- Fanduel Now Accepts Bitcoin Cash
Fanduel is the second-largest fantasy sports provider who is now accepting cryptocurrency payments. The company is now allowing its members to top up their accounts with BCH or BTC via Bitpay, which is a digital currency payment provider.
- Bitcoin Cash Adoption Continues to Spread in North Queensland and Japan
Both North Japan and Queensland are areas that have continued to see bitcoin cash BCH merchant adoption spread widely. The two regions are among the highest concentrations of BCH merchant acceptance in the world besides Slovenia 343 BCH merchants.
- Vitalik Buterin to use Bitcoin Cash blockchain
Recently, Ethereum co-founder Vitalik Buterin announced to use Bitcoin Cash blockchain as a temporary scalability solution for the Ethereum network.
The Ethereum community has been working on Ethereum 2.0, a major network upgrade that is expected to come in early 2020. Buterin suggested incorporating other blockchains as a new option for improving Ethereum scalability in the short term.
In particular, Vitalik claimed the Bitcoin Cash blockchain is a perfect match for this purpose as BCH provides a data throughput of around 53 kilobytes (KB) per second.
Bitcoin Cash Halving
Analysts claim Bitcoin Cash Halving will happen in May 2020. The price of Bitcoin Cash may increase as the number of tokens mined will be reduced to half of the present amount.
Overall, the majority of crypto markets seem to be in a good place right now. Currently, if you are investing in Bitcoin cash keep in thought that Bitcoin cash would also simulate the drift in Bitcoin. During a bearish point in Bitcoin, BCH would also move in the same way briefly. Bitcoin cash is rising up a lot quicker than all of its market cap competitors. An exert to $2000 seems likely, reaching $4000 will cause a very different set of challenges.
Also, find other cryptocurrencies price predictions. What do you think of our Bitcoin Cash price prediction for (BCH) in 2020? Do you think BCH price prediction can ever compete with Bitcoin? Let us know your thoughts in Facebook and Twitter!