Bitcoin Cash (BCH) has dropped by more than 77% in 2022. Is BTC a Buy, Sell, or Hold? CAPEX looks at the Bitcoin Cash price forecast for 2023 and beyond.
Bitcoin Cash (BCH) was created in 2017, as a fork from the already famous cryptocurrency, Bitcoin. The group of developers behind Bitcoin Cash wanted to add some improvements to Bitcoin’s blockchain but could not reach an agreement with the entire Bitcoin community.
Bitcoin Cash (BCH) exceeds Bitcoin in terms of transaction speed because it can verify blockchain transactions faster. It also has lower trading fees than Bitcoin. BCH was created specifically for payments and trading, not just for storing value.
Although Bitcoin Cash still relies on the proof-of-work (PoW) mechanism, it is far easier to mine and uses it as payment. BCH brags about being the best money in the world. It claims that BCH truly fulfills the primary goal of Bitcoin, which is to become a peer-to-peer currency available to all individuals. However, this crypto has also suffered a massive drop in 2022, as most cryptocurrencies.
But what can we expect from Bitcoin Cash in the future? What highs may the BCHUSD price hit in 2023? Will the Bitcoin Cash price surge or plunge in 5 years?
This article aims to address all the queries related to Bitcoin Cash price prediction for 2023 and beyond, fundamentals, and technical updates.
Summary of Bitcoin Cash Forecast & Price Predictions
- Bitcoin Cash price prediction today: the actual rally should face strong resistance around 150 and send the price back towards 100 levels during the first quarter as per charts and experts.
- Bitcoin Cash price prediction 2023: while most experts forecast BCH coin can rise above 200 during the year, other said crypto winter could extend into 2023 and push Polkadot price below 100.
- Bitcoin Cash price prediction 2025-2030: most analysts point out that crypto investors will shift focus from speculative trading to the development and adoption of blockchains and applications powered by tokens with utility and cash flows.
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Bitcoin Cash Overview
Bitcoin Cash is a hard fork from the Bitcoin blockchain. The BCH fork took place on 1 August 2017. Because the Bitcoin community could not agree on a proposal to increase the blocks’ size to allow more transactions, the Bitcoin Cash supporters decided to split the Bitcoin blockchain into two different networks and cryptocurrencies. Initial blocks on the Bitcoin network were 1MB in size, but the Bitcoin Cash protocol supports blocks up to 32MB. Bitcoin Cash can process more transactions per second thanks to its larger block size. This is a solution for the high fees and payment delays that were already being experienced by Bitcoin users.
As this was a hard fork, all those who help Bitcoin at the moment of the fork, also received Bitcoin Cash.
Bitcoin Cash was launched with the aim to restore decentralized mining, which was dominated by large mining companies as Bitcoin became more popular. BCH allows efficient micro-transactions, such as tipping content creators or rewarding app users with tiny amounts of cash.
Over time, there were numerous disputes within the Bitcoin community which led to many different Bitcoin hard forks. However, Bitcoin Cash remains one of the most successful forks of them all.
The supply of Bitcoin Cash has a limit of 21 million coins, just like the original Bitcoin currency. This fixed supply is designed to limit inflation and make Bitcoin Cash a solid store of value and a payment currency.
Related: How to Buy Bitcoin Cash
BCH's price dropped by more than 77% in 2022
As of 2022, Bitcoin Cash is accepted as payment by numerous businesses, including AMC, Twitch, NameCheap, and AirBaltic. BCH is also supported by the popular payment service, PayPal. Their customers can buy, hold, and sell cryptocurrencies, including Bitcoin Cash, via the PayPal website and mobile app.
Greyscale, a cryptocurrency investment company, announced on September 10, 2021, that it had registered Grayscale Bitcoin Cash Trust (US Securities and Exchange Commission) with the US Securities and Exchange Commission. This trust joins its existing trusts, Bitcoin, Ethereum, and Digital Large Cap.
In November 2022, the Caribbean nation of St. Kitts and Nevis announced that it could make Bitcoin Cash legal tender by March 2023. The announcement was made by Terrance Drew, Prime Minister of St. Kitts and Nevis, during his speech at the Bitcoin Cash 2022 conference.
In January 2022, Bitcoin Cash was trading at about $431 and steadily dropped in value throughout the year, as did most other cryptocurrencies. In general, BCH’s price has the tendency to follow the crypto market trend, and it is influenced by Bitcoin’s price evolution.
With 2022 already looking like another roller-coaster period for digital currencies, CAPEX looks at BCH’s price predictions from best-rated websites and experts.
Bitcoin Cash Price Prediction 2023 and beyond
Bitcoin Cash (BCH) was created to address issues such as the rising transaction fees and controversies around scaling the Bitcoin blockchain. Peer-to-peer transactions were the main purpose of Bitcoin Cash (BCH). The BCH coin was designed to allow the exponential increase in block sizes, which could enable a fast transaction process. Theoretically, BCH could be used as payment by many, which could increase general interest and its market value.
According to WalletInvestor, the short-term sentiment for BCH is bearish. The forecaster also predicts that BCH could be a bad long-term investment, and the possible price of BCH could drop to $6 by the end of 2023. That would represent a 93% price drop.
Please remember that Bitcoin Cash (BCH), like any other cryptocurrency, experiences a fair share of volatility and the future growth rate of the BCH coin is hard to predict.
Bitcoin Cash Forecast 2023
BCH price prediction site Wallet investor suggests that BCH’s price will drop dramatically by he end of 2023. The Bitcoin Cash forecast for 2022 predicts that the price of BCH will reach an average of $6.13 in December 2023.
DigitalCoin is much more optimistic about its Bitcoin Cash forecast. It predicts that the price of BCH will be around $237.71 by the end of 2023.
The long-term forecast for Bitcoin Cash from Price Prediction shows that the price will rise to an average value of $150.89 by the end of 2022.
CryptoPredictions has also set an optimistic forecast for Bitcoin Cash in 2023. They predict that the average price of Bitcoin Cash will be $133.40 by the end of 2023.
According to Long Forecast, Bitcoin Cash can drop even further in 2023, reaching $61.20 by the end of 2023.
The average consensus price for December 2022 is $117.86, so forecasters expect BCH to rise by about 22% from its December 2022 price ($96.32). This makes Bitcoin Cash one of the best cryptocurrencies to buy in 2023. Bitcoin Cash is also included in the top 5 cryptocurrencies to explode in 2023.
It's important to remember that analysts’ forecasts can be incorrect when predicting BCH prices. Analysts make projections based on a technical and fundamental analysis of the crypto's performance. However, past price performance does not guarantee future results.
You should do your research and remember that trading decisions are influenced by your attitude towards risk, market knowledge, and your tolerance for losing money. The consensus, when it comes to crypto, is to not invest more than you can afford to lose.
Our Bitcoin Cash Prediction Today
Bitcoin Cash has a lot of potential. Bitcoin Cash price is one of the most established players in the cryptocurrency market. The protocol's real-world application has covered many major industries that enterprise businesses might be interested in. Enterprise businesses could also consider Bitcoin Cash's large developer community, which works to improve the protocol.
Bitcoin Cash has been used to solve real-world problems such as currency transfers and distributed financing.
As BCH has dropped over 77% in 2022, we can’t really forecast what will happen in 2023.
As of December 2022, BCH’s price is $96, with a market cap of $1.85 billion. Over 19.26 million BCH are in circulation.
While most forecasters are optimistic about the price movement of BCH for 2023, it’s important to remember that Bitcoin Cash follows the general trend of the crypto market. Investors should follow the latest news about Bitcoin Cash and cryptocurrencies in general, as these influence the price of BCH.
There are signs of improvement. The support at $94 has held up so far and the price is trading sideways in a descending channel.
In the short and medium term, the trend is neutral, but there is a downtrend in long term. However, the consolidation seen in the last months can a be an accumulation pattern and not a re-distribution pattern.
A break above 150 could signal a change in the market sentiment and the beginning of a new uptrend.
While we can speculate about the potential price of Bitcoin Cash over the next months and years, the truth is that Bitcoin Cash still is a highly speculative investment. There is not many historical data to support these predictions. It is important to invest only what you are willing to lose and include some traditional investment instruments to build a strong portfolio.
Your investments should be small, and you should not place crypto investments above other financial goals, such as saving for retirement or paying off high-interest debt.
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Bitcoin Cash Price Prediction 2025
There are indications that the crypto market is entering a new era.
Nobody can predict what will the BCH's long-term price prediction be, but there is still optimism about the currency.
According to expert forecasters, the average BCH price prediction is $203 or more by the end of 2025. One of the most bullish forecasts comes from DigitalCoinPrice. They predict an average BCH price in 2025 of $408. On the other hand, WalletInvestor has a much bearish BCH price prediction, forecasting a price for 2025 of only $2. It is important to analyze the potential financial consequences of this investment to determine if it is a wise financial decision.
Bitcoin Cash Prediction 2030
Are you expecting Bitcoin Cash to rise in value? The same applies to Bitcoin Cash price predictions as it does to weather forecasts. The further we go into the future, the harder it becomes to try to predict the price of Bitcoin Cash. The world of 2030 may be quite different from what we see now. What does 2030 hold for Bitcoin Cash?
Most forecasters don’t offer price predictions so far off into the future. However, considering the few crypto forecasters with a BCH price prediction for 2030, the forecast is optimistic.
By 2030, PricePrediction forecasts that Bitcoin Cash’s price could reach around $2,186. Another forecaster, DigitalCoinPrice, predicts an average Bitcoin Cash price of $1,360 by 2030.
Is It Possible to Forecast the Price of Bitcoin Cash?
Many price predictions for Bitcoin Cash are flawed because they lack the necessary analytical support. Investors will always be attracted to a high price point, especially one that is on an upward price trend. Someone holding a cryptocurrency priced at $0.01 could easily believe that it will rise to $10,000 just because it sounds good.
The problem is that predictions can be made without any evidence or analysis. However, three types of analysis have been used in the financial world for a long time to try and forecast prices and the evolution of markets.
- Technical Analysis
- Fundamental Analysis
- Sentimental Analysis
Bitcoin Cash Forecast using fundamentals
Investors in financial markets use fundamental analysis to study and evaluate the variables that impact an asset’s price.
You can assess the intrinsic value of a cryptocurrency to determine if it is undervalued or overvalued. This can be achieved by analyzing qualitative factors like the state of the economy and cryptocurrency market conditions, as well as the management and market capitalization of crypto companies.
Fundamental analysis can help traders determine the price of a cryptocurrency based upon a wide range of information. This could be a great way to make long-term investment decisions.
How to conduct a Bitcoin Cash price prediction today using fundamentals?
Fundamental analysis is when you examine the fundamentals of cryptocurrency projects, from their market capitalization to the utility and value of the native token.
Do not confuse the fundamental analysis and technical analysis. Fundamental analyses of cryptos are more qualitative and less tangible than statistical trends like price charts or historical market data.
The fundamental analysis of cryptocurrency is like that of traditional financial markets with more traditional assets such as stocks. It is not as important to focus on a company’s historical financial performance, financial statements, or balance sheets.
The following parameters can be used to help investors predict trends in crypto markets:
- Market capitalisation
- Total and circulating supply
- Token utility and use cases
- Community size
- The team of the crypto project
- The crypto's trading volume
- Crypto exchanges listings
- Partnerships with trusted institutions
- The latest news about the coin
- Government rules and regulations
It is important to remember that fundamental analysis can only give you an overview of cryptocurrency investments. You can better understand the project and the future changes in cryptocurrency prices by looking at all the information. To get a better picture, you can also refer to the company’s whitepaper.
You can also examine blockchain metrics which provide crucial information about a cryptocurrency's technology and processes.
Bitcoin Cash Forecast using technical analysis
Technical analysis uses historical price charts and market statistics to examine and anticipate price changes in the financial markets. It is founded on the concept that if a trader can recognize historical market trends, they may anticipate future price trajectories accurately.
Whereas fundamental analysis focuses on an asset's 'real value,' considering both external and intrinsic elements, technical analysis is only based on an asset's price charts. To anticipate future movements, all that is required is the recognition of patterns on a chart.
The ability to recognize price trend cues in a market is an important part of any trading strategy. All traders must devise a strategy for determining the optimal entry and exit points in a market and using technical analysis tools is a popular technique for doing so.
Technical analysis software is now so widely utilized that many people believe it has established self-fulfilling trading rules: As more traders use the same indicators to find support and resistance levels, more buyers and sellers will congregate around the same price points, repeating the patterns.
In general, technical analysts look at the following broad types of indicators, formations, and theories:
- Price trends (trendlines, channels, Elliott Waves, Dow Theory)
- Chart patterns (double tops and bottoms, head and shoulders, triangles, wedges)
- Price action (pin bar, inside and outside bars, and different candlesticks chart patterns like Doji candle)
- Trend following indicators (moving averages, Ichimoku, Parabolic SAR, ZigZag, ADX)
- Volatility indicators (Bollinger bands, ATR)
- Oscillators (RSI, MACD, CCI, Stochastic)
- Support and resistance levels (Fibonacci retracements, pivot points)
Example
Inside bars and outside bars are used by price action crypto traders. Although trading single candlestick patterns is usually not recommended, if such formations are traded within the right chart context, it is possible to create useful signals.
An outside bar pattern consists of two candlesticks. The first one is typically much smaller and the second completely engulfs the first candlestick, hence the name outside bar. The outside bar can have various meanings, depending on the chart context.
We can see the same pattern in the BTC/USD daily chart above and the candlestick sequence foreshadowed the upcoming downtrend. After 4 consecutive bullish candlesticks that may have been seen as a breakout, a strong bearish outside bar started the new downtrend. This type of price action signals a fake breakout.
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Bitcoin Cash Prediction Using Market Sentiments
In finance, the term "sentiment" refers to a viewpoint or opinion about a market's condition. The sentiment of crypto market investors towards the asset is a description of their general emotions and attitudes. It reflects the collective psychology of all those involved in trading and developing cryptocurrency.
How investors feel about cryptocurrency can have a tangible impact on market cycles and the price. It can have serious implications if enough traders act on the ideas, thoughts, and feelings they share, regardless of whether they are based upon real-world data. This is evident in how tweets by Elon Musk have impacted Bitcoin's price (a bullish sentiment).
For analyzing the sentiment of cryptocurrency markets, there are many statistics you can use. The following statistics provide vital information about the movement and trajectory of cryptocurrency assets: funding rates, sentiment indices, social media, community analysis, and whale monitoring.
The funding rates are the monthly payments that traders receive based on price differences between the spot price of currencies and tokens and the price difference between cryptocurrency perpetual contracts. Positive funding rates indicate a bullish market.
A sentiment index is used to predict whether investors will act fearfully or greedily. It can be affected by volatility, market momentum, and investor responses to surveys. A fearful market can be an opportunity to buy if it is managed correctly. Conversely, a greedy market means that it is a good moment to sell.
Another crucial aspect for assessing sentiment in crypto markets is the community’s activity on social media, especially Twitter and Telegram. Investors would look for an active social network with meaningful interaction across platforms.
Whale monitoring is the process of keeping an eye out for big crypto players. A cryptocurrency whale is an investor who holds large-value transactions on multiple blockchains is called. Whale watchers spot major market participants' trades and trade accordingly.
Bitcoin Cash Historical Prices
Bitcoin Cash is a strong contender for a successful payment cryptocurrency and has the potential to out transaction faster with its 8 MB block size. However, it still needs to work harder to be equal to its peers. Although Bitcoin Cash has made its blockchain easier to scale and more suitable for small transactions, most miners and investors still prefer the original version of Bitcoin.
The price history of Bitcoin Cash has not been encouraging. It has been volatile and closely linked to the overall market situation. A single Bitcoin Cash was valued at more than $4,000 on December 20, 2017, just a few days after its creation. However, it is surprising that the cryptocurrency has been losing money quickly its price plummeted from that amazing level.
In 2018, Bitcoin Cash continued to drop in value, although it has seen an encouraging bull run in April. The average price soared to only $90 by December 2018.
For the next two years, between 2019 and 2022, Bitcoin Cash’s price managed to keep its balance and was trading between $200 and $400, following some steady trends. As of the spring of 2021, BCH followed the general market trend and surged above the $1,400 level for the first time since 2018, only to drop during the summer, back to the $430 level. The November 2021 bull run did not have such a significant impact on the Bitcoin Cash price, reaching only $670, while Bitcoin was reaching a new time high.
As of December 2022, the circulating supply of Bitcoin Cash is at 19.26 million BCH, and it was trading at $96, with a total market cap of $1.85 billion. According to CoinMarketCap, BCH’s all-time high value was reached on December 20, 2017, at $4,355.
FAQs:
Is Bitcoin Cash worth buying in 2023?
Bitcoin Cash aims to further develop into payment crypto, available for all retail investors and companies that want to accept crypto payments. New network developments and partnerships could drive the price up in 2023.
How high can Bitcoin Cash go in 2023?
Most cryptocurrency forecasters have made optimistic predictions for BCH’s price in 2022. According to the top crypto forecasters, the average price of Bitcoin Cash could reach $117 by the end of 2023.
Will Bitcoin Cash crash in 2023?
According to most experts and prediction websites, Bitcoin Cash has a low chance of crashing in 2023.
Does Bitcoin Cash have a future?
Bitcoin Cash has a solid roadmap for future developments and has proven its utility as an everyday payment coin.
What will Bitcoin Cash be worth in 5 years?
Bitcoin Cash has a good chance to rise over the next five years as more developments are planned by its developers. According to PricePrediction, Bitcoin Cash could be worth $700 in the next 5 years.
What will Bitcoin Cashbe worth in 2025?
According to expert forecasters, the average BCH price prediction is $203 or more by the end of 2025. One of the most bullish forecasts comes from DigitalCoinPrice. They predict an average BCH price in 2025 of $408.
What will Bitcoin Cash be worth in 2030?
Predicting the price of any cryptocurrency so far off into the feature is often impossible, but according to PricePrediction, the price of Bitcoin Cash could reach around $2,186 by 2030. Another forecaster, DigitalCoinPrice, predicts an average Bitcoin Cash price of $1,360 by 2030.