Bitcoin Cash (BCH) could attract a large number of investors in 2022 and the coming years. There are some things that show that BCH could continue to be among the largest digital currencies in the world. But there are also some things to take into consideration about this virtual currency.
We all want to invest in digital assets that would give us results and profits in the long term. This is why we have decided to create this Bitcoin Cash (BCH) price prediction for the coming years. The goal is to understand the current situation of Bitcoin Cash and whether it could continue growing if there is a bull market. We will also share with you what could happen with it if there is a bear trend.
What is Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) is one of the largest cryptocurrencies in the world. This virtual currency was created as a hard fork of Bitcoin (BTC). Indeed, there have been many conflicts between the Bitcoin and Bitcoin Cash communities.
Bitcoin Cash supporters decided to fork the Bitcoin blockchain in order to create a new virtual currency with some different features from BTC. The difference between these two communities was mostly focused on scalability.
We know that scalability is very important. Sending Bitcoin was costly and sometimes slow. There were many investors and users that could not send Bitcoin and enjoy its benefits. This scalability problem that affected Bitcoin has been a very common topic for discussion.
Bitcoin Cash supporters claimed that it was necessary to increase block size (on-chain scaling solution) rather than relying on 2-layer scaling solutions as Bitcoin supporters preferred. The second layer scaling solution proposed by Bitcoin supporters is known as the Lightning Network (LN).
Instead, Bitcoin Cash supporters considered that it was necessary to increase the block size from 1 MB to 8 MB. This would have allowed the Bitcoin network to process a larger number of transactions for lower fees for users. Nowadays, both cryptocurrencies, Bitcoin and Bitcoin Cash have followed their paths and continue to play important roles in the crypto community.
Bitcoin Cash (BCH) Fundamental Analysis
When it comes to fundamental analysis for Bitcoin Cash, we need to take into consideration that this virtual currency wants to offer fast and cheap on-chain Bitcoin transactions. This is different from Bitcoin’s approach to using second-layer scaling solutions.
In order for Bitcoin Cash to prove its value and to continue growing in the future, it might require second-layer scaling solutions to fail. Despite being able to offer on-chain scalability, it becomes difficult for Bitcoin Cash to attract a large number of users.
The only way things could happen is if second-layer scaling solutions fail to deliver the solutions that they were expected to deliver. This would push a large number of users from Bitcoin to other layer-1 cryptocurrencies (including BCH) that have fast transaction times and low fees.
Moreover, it would be very important for Bitcoin Cash to start working again on other proposals and with different cryptocurrency developers that would let it become one of the largest virtual currencies once again (reach the top 20 or top 10).
Other projects that could bring better solutions to Bitcoin Cash could also be very positive for the virtual currency. This would let BCH investors believe in this project in the long term.
Bitcoin Cash (BCH) Price Analysis
At the time of writing, Bitcoin Cash is the 26th largest cryptocurrency in the world with a price per coin of $430 and a market capitalization of $8.18 billion. When it comes to price, we see that the best period for Bitcoin Cash was after it was created in 2017 and early 2018.
During 2017, Bitcoin experienced a bull market in which the digital asset reached very high prices ($20,000). Bitcoin Cash followed this bull trend and hit an all-time high of over $3,700 in late December 2017.
In 2018, a bear trend started for Bitcoin Cash (BCH), the same trend as for other digital currencies. However, there was a very negative event that affected Bitcoin Cash. In December 2018, there was a hard fork on the Bitcoin Cash blockchain that split the network into Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (Bitcoin SV). This pushed the price of Bitcoin Cash to new lows close to $80 per coin.
A new period of accumulation started in 2019, which lasted two years for BCH. In early 2021, things changed after years. BCH spiked to over $1,500 per coin for a brief period of time in May 2021. However, this was something that did not allow Bitcoin Cash to reach new highs.
This cryptocurrency will have to show that it offers better solutions than other cryptocurrencies or than 2-layer scaling solutions. The Lightning Network (LN) has been expanding around the world and it has made it easier for users to get access to fast and reliable Bitcoin transactions. Hence, Bitcoin Cash will have to attract a larger number of users that would like to send on-chain transactions for low fees and fast transaction times.
That being said, Bitcoin Cash has been falling over the last few months. It would definitely be important to understand how the cryptocurrency market will behave in the coming months and whether it could help Bitcoin Cash recover part of the market that it lost over the last years.
BCH might need some help in order to expand and reach higher positions in 2022 and the next few years. How is BCH going to do so? That remains to be seen. But let’s now focus on Bitcoin Cash price prediction and how this digital asset could evolve in the future.
Bitcoin Cash (BCH) Market Price Prediction
When it comes to Bitcoin Cash price prediction, it is not possible to predict the whole path of this virtual currency in the coming years. Indeed, this is something difficult to do. However, we can always analyse different price scenarios and understand how Bitcoin Cash would behave in those circumstances.
It is worth taking into consideration that the information shared in this article should not be considered investment advice. We are simply sharing educational content that should be considered as such.
In the next sections, we are going to share with you how Bitcoin Cash could behave in the coming months and years. This could give us a clear idea of how far Bitcoin Cash could go and whether there is a possibility for this digital currency to continue moving higher in the future.
Bitcoin Cash (BCH) Price Prediction 2022
Bitcoin Cash has been hit in 2022 by a sell-off that affected the whole cryptocurrency market. This is due to the fact that virtual currencies have been moving in a downtrend for several months now. Due to this reason, Bitcoin Cash fell to the 28th position in the market. This is certainly not positive for a virtual currency that tried to become the new Bitcoin in 2017 but that couldn’t do so and establish itself as a competitive alternative.
At the moment, it would be very important to follow the general trend of the market (that is, see how Bitcoin and other cryptocurrencies move in the coming weeks) and try to understand whether this could have a positive impact on Bitcoin Cash. A bullish trend would definitely help BCH recover while a bearish trend would hit BCH even further. We have seen a wide range of cryptocurrencies that were among the top 10 lose their position and get lost among other virtual currencies.
One of the things that Bitcoin Cash will have to show in 2022 is whether it is able to compete against 2-layer scaling solutions such as the Lightning Network. Moreover, are Bitcoin Cash developers working in order to offer better solutions to users from all over the world? As you can see, there are many things that we should consider about BCH and whether it will continue growing in the future or not.
Bitcoin Cash (BCH) Price Prediction 2023
When it comes to Bitcoin Cash price prediction for 2023, we should know that the cryptocurrency market works with cycles. That means that after a bull market we should see a bear trend or an accumulation period. If 2022 turns out to be a bullish year for BCH, then we could experience 2023 with a bear trend. This is, the price could move lower.
Now, what happens if Bitcoin Cash enters a bear market in 2022? This is another important thing because if that happens, 2023 could be a year of accumulation or the year in which we see a bottom for the price of Bitcoin Cash. As you can see, 2023 might not be a bullish year for Bitcoin Cash, but this is something that we cannot predict.
Bitcoin Cash (BCH) Price Prediction 2024
In 2024, things could change for the better. We could experience the beginning of a new bull trend if in 2023 BCH reached a bottom. Instead, we could continue with an accumulation period in 2024 if Bitcoin Cash did not reach a bottom in 2023.
2024 could be a transition year for BCH between a bull and a bear market. This could be very important for those users that want to gain long-term exposure to BCH as it could bring good buying opportunities for the long term. However, there are many things to take into consideration and the market can change direction at any time.
Bitcoin Cash (BCH) Price Prediction 2025
2025 could be a positive year for Bitcoin Cash. The virtual currency could already be reaching new highs or leaving behind a bear trend that started in 2023 or 2024. This could be a year of surprises for Bitcoin Cash investors that were waiting for this digital asset to continue moving higher.
Although there are no short-term predictions for BCH to surpass Bitcoin, it could be a positive year in real terms. The coin might trend higher, allowing investors to make profits on their BCH coins.
How to Buy Bitcoin Cash (BCH)?
Buying Bitcoin Cash is very straightforward and would require you to have a cryptocurrency exchange account.
Step 1: Search for a Cryptocurrency Exchange and Open an Account
The first thing that you should do if you want to buy Bitcoin Cash is open a cryptocurrency exchange account. This would take some minutes and it would let you get access to different virtual currencies besides BCH.
Opening a cryptocurrency exchange account should not be complicated and it is usually a standardized process across different exchanges. You want to make sure that you follow the necessary steps in order to buy this cryptocurrency.
Step 2: Deposit Funds
The next thing that you should do is deposit funds. These funds would let you get access to BCH and also other cryptocurrencies and exchange services. Depending on the cryptocurrency platform in which you are trading, you will have different payment methods available. This would let you easily decide which type of payment suits you better.
Step 3: Buy Bitcoin Cash (BCH)
Finally, you will be able to buy Bitcoin Cash with the funds that you deposited to the exchange. This is going to take a few minutes. You have to select the type of order that you want to execute (market or limit order) and wait until it gets executed. Market orders get executed immediately while limit orders might take a while to be completed.
Frequently Asked Questions (FAQ)
These are some of the most commonly asked questions when it comes to Bitcoin Cash (BCH).
What is Bitcoin Cash?
Bitcoin Cash is one of the largest cryptocurrencies in the world. It was created in 2017 after a hard fork that took place on the Bitcoin network. Bitcoin Cash wanted to offer on-chain scaling solutions to Bitcoin rather than off-chain scaling solutions such as the Lightning Network (LN).
Is Bitcoin Cash Better than Bitcoin’s Lightning Network?
This depends on the needs of each person and company rather than from an objective standpoint. Some people prefer to use Bitcoin through the Lighting Network while others would prefer Bitcoin Cash with on-chain transactions.
Difference Between Bitcoin Cash and BCH
Bitcoin Cash is the blockchain network in which BCH runs. These terms are used interchangeably and mean exactly the same thing. However, Bitcoin Cash might make reference to the blockchain network and BCH to the cryptocurrency that runs on this network.
Where Can I Buy Bitcoin Cash (BCH)?
You can buy Bitcoin Cash at any large or recognized cryptocurrency exchange around the world. There are dozens of platforms available for you to get access to BCH in just a matter of seconds.