Author: changehero
May 12, 2020

It is not easy for a contentious fork to make a name for itself, especially if the community that chose to split divides even further as the years go by. Despite all these hurdles, Bitcoin Cash is still one of the go-to options for peer-to-peer payments and is arguably the most established Bitcoin fork. In […]

It is not easy for a contentious fork to make a name for itself, especially if the community that chose to split divides even further as the years go by. Despite all these hurdles, Bitcoin Cash is still one of the go-to options for peer-to-peer payments and is arguably the most established Bitcoin fork. In this article, we will have a look at Bitcoin Cash price prediction 2022 to 2030 to see what experts say about its value in the future.

Bitcoin Cash Price Prediction 2022–2030

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  • Bitcoin Cash price prediction 2022 does not see BCH reaching a new ATH this year;
  • By 2024, it can return into a four-digit zone but will barely exceed $3,500 by 2025;
  • At the end of the decade, in 2030, BCH may be worth over $9,000.

What is Bitcoin Cash (BCH)?

In short, Bitcoin Cash is a hard fork of Bitcoin that split from it in August, 2017 as a result of a long community discussion about solving the scalability problem. Possible solutions included modifying the source code to allow a second layer or increasing the 1MB block size.
Bitcoin Cash (BCH) represents the “larger block size” solution. Bitcoin Cash as of today, after several upgrades, features 32 MB blocks, which let more transactions be processed at once. 
ChangeHero has a beginner’s guide to Bitcoin Cash if you want to learn more about the history and applications of the coin.

Bitcoin Cash Price History

BCH Price in 2017–2018

Due to significant support, Bitcoin Cash has started its independent journey at around $400. Even despite the initial support refusals from Coinbase and Itbit, it reached the $900 mark just a few weeks later.
The rise did not last and BCH entered a downtrend as the investors were selling 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 on December 20, 2017. The following correction was market-wide but during a brief bull market in spring 2018, Bitcoin Cash outperformed the parent coin and surged by +580% to $470.
In November 2018, the ongoing arguments over scalability resulted in another Bitcoin Cash chain split, forking it into BCH and BSV. Prior to the event, the price briefly spiked to $600 only to drop to double digits a month later.

BCH Price in 2019–2020

The recovery later in 2019, or at least a few spikes, can be attributed to scheduled upgrades. Schnorr signatures and SegWit recovery change further improved the network’s scalability.
In spite of a painful start to the year, Bitcoin Cash performed decently, gaining ~30% and keeping the momentum into early 2020.
In March of 2020, following the stock market, the entire crypto market plunged. BCH’s own halving took place on April 8, 2020 but unlike the case with Bitcoin halving, BCH did not rally. By the end of the year, though, it picked up some steam and closed above $350.

Bitcoin Cash Price in 2021-2022

We can see a striking similarity between BCH price charts in 2017–2018 and 2021–2022. Though it failed to overcome its previous record in May 2021, at the peak of the latest market cycle, it reached $1,542.43.
In November, when Bitcoin was running toward a second leg up and even beat its ATH, BCH did not see enough volume to back up any kind of significant price action.
Nonetheless, 2021 closed at $430.64 to a gain of 26% from the start of the year. In 2022 so far, the downtrend has not relieved its grasp, and BCH keeps losing value.
At the time of writing, BCH price is $379.66 and the coin is ranked 26th by market capitalization on CoinMarketCap.

What Can Influence the Price of Bitcoin Cash?

Miner Reward Halving

Regular and pre-programmed miner reward slashing, also known as “halving” is one of mechanisms to keep a cryptocurrency deflationary. 
All three major branches of Bitcoin shared the first two halvings, but 2020’s third halving was the first for BCH. The block reward was lowered to 6.25 BCH and just like before, this event was expected to trigger a bull market. 
There was no repetition of the events of a Bitcoin halving but the total supply of BCH (21 million) is still decreasingly accessible. With that quality in mind, it also can act as a hedge asset.

Adoption Prospects

Bitcoin Cash was meant to become the ‘digital cash’ Satoshi Nakamoto wanted Bitcoin to be. The Bitcoin Cash community is interested in increasing the number of businesses that accept the currency.
The prospect of official adoption and receiving a legal tender status recently came from a Netherlands constituent kingdom of Sint Maarten. The head of United People’s Party, Rolando Brison, announced he is researching a bill that would make Bitcoin Cash legal tender in their jurisdiction.

Tech Updates

In addition to integrations that expand the Bitcoin Cash ecosystem, BCH chain upgrades two times a year on a schedule. The upcoming May 15 update will not have any fundamental consensus changes but will have quality-of-life improvements, such as arithmetic operations on larger numbers and introspection operations.
The influence of scheduled upgrades works both ways: positively and negatively. The update on November 15, 2020, saw the chain split into BCHN and BCHABC. 
The main point of contempt was in block reward distribution: BCHABC supporters insisted 8% of it should go to a centralized treasury. The split didn’t affect price much but the investor confidence was shaken as this was yet another case of community disagreement.

Bitcoin Cash on Twitter


Trader TheWolf shared a chart claiming that the setup for BCH is pretty promising.


The sentiment is shared by another trader, phoney. They are analyzing volume and relative strength index to anticipate trend changes.


And here is the news that brought BCH back into the spotlight. Whether it will become Sint Maarten’s legal tender is one of the many things to look forward to in the near future.

Bitcoin Cash Price Prediction 2022

The Economy Forecast Agency’s LongForecast tells traders and holders to brace for volatility. The peak will be reached in May 2022, $495, and the year is predicted to close at $368. 
TradingBeasts are not bullish, either: according to their Bitcoin Cash price prediction, it’s all downhill from here. By December 2022, BCH will have lost 17.95% of its value and close somewhere between $265.282 and $312.097.

YouTuber HueFin News is more optimistic, though. Right now and for some time into the near future, BCH will be trading sideways between $260 and $380.
The watershed level which will decide where BCH will move is at January 2022 prices, $375–400. If the buyers sustain the momentum, BCH can break out to the upside to $450–500.

Bitcoin Cash Predictions for 2023–2024

With volatility taken into account, DigitalCoinPrice predicts that early 2023 will see BCH at its highest, $682.06 in February. By December, it will shed some value and move lower down to $501.40 at the very least.
According to the Bitcoin Cash price prediction by WalletInvestor, BCH holders will stay in the black but will not see significant returns beyond 66.8% in 2024. Average price of opening will float around $943.224, and having touched a high at $1,067 and a low at $551, BCH price is expected to return to the high at 2024’s close.

Bitcoin Cash Price Prediction 2025

In a few years, in 2025, CryptoGround projects that BCH will multiply its value. It can grow up to $1,864.6867.
Decent growth is predicted by CoinPriceForecast: they project that in 2025 BCH can appreciate by +144% and be worth $930.
Coinpedia analytics dismiss the possibility of BCH ever crashing simply because it is based on Bitcoin. Their conservative BCH forecast for 2025 gives a target around $900 but they do not rule out it reaching $1,195.11 and even run to $3,566.73. 

Bitcoin Cash Price Prediction 2030

Most past predictions could not foresee the 2021 rally, and forecasting to almost ten years in the future is unreliable. Some algorithms and services still try.
CoinPriceForecast estimates that in 2030 Bitcoin Cash can reach $1,590. CryptocurrencyPricePrediction forecast growth from $7,230 to $9,038 in 2030.

ChangeHero’s BCH Price Prediction

Bitcoin Cash has a supportive community and infrastructure which offers a lot of room for improvement. Bitcoin Cash is intended for daily use, which it achieves by having low transaction costs and integrating in payment solutions and even DeFi.
Considering all the data, it is fair to say Bitcoin Cash can beat its 2017 ATH. However, it is more likely to happen over time, making it a better option for long-term investments.

How to exchange Bitcoin Cash on ChangeHero?

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:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. 
    • The Best Rate transactions will use the rate current to the time when your funds arrive.
      The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your BCH is on the way to your wallet. 

The customer support is available 24/7 in the chat on the website or through the email: [email protected].

How to Buy and Sell Bitcoin Cash on ChangeHero?

Did you know that you can not only swap crypto on the ChangeHero website but also buy and sell it with your credit card? It is not as quick as by exchanging but nonetheless convenient, here is how you do it:

  1. Click the “Buy or sell crypto” shortcut in the calculator on the home page. Choose a country of residence and the fiat currency;
  2. Double-check the pair and rates and input the BCH address. Read and accept the Terms of Service before proceeding;
  3. Input and verify your phone number with an SMS code;
  4. Provide the information of your debit/credit Visa/Mastercard bank card. Your bank will initiate a 3D-Secure Authorization next. Some countries require additional security code checks;
  5. Finally, you will be asked to provide a government-issued ID (passport, ID card, driving license) and a selfie with the document for a quick KYC procedure;
  6. If all goes well, from there on the provider will process your purchase within 30 minutes. If you provided an email, you can receive a summary of your purchase.

Conclusion

Bitcoin Cash is seeking adoption as the “digital peer-to-peer cash” Satoshi Nakamoto described in the whitepaper that started it all. Arguably, it is one of the most reputable Bitcoin forks, so its adoption prospects are believable.
What do you think about the predictions? Leave a comment in our blog! Subscribe to our social media for updates and the latest news: Twitter, Facebook, Telegram and subreddit.

Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is Bitcoin Cash (BCH)?” answer-0=”Bitcoin Cash is a contentious fork of Bitcoin that split after the debate about scaling solutions. The main chain opted for additional protocols while Bitcoin Cash increased the maximum block size. Bitcoin Cash’s chain was split again in 2018 and 2020.” image-0=”” headline-1=”h4″ question-1=”Will Bitcoin Cash go up again?” answer-1=”The opinions of experts and analysts are split but the majority believes BCH can perform well and gain value.” image-1=”” headline-2=”h4″ question-2=”What will Bitcoin Cash be worth in 2022?” answer-2=”Depending on who you ask, experts give estimates between $260 to $500.” image-2=”” headline-3=”h4″ question-3=”What will Bitcoin Cash be worth in 2025?” answer-3=”Analysts’ opinions give a range between $900 and $3,566.73.” image-3=”” headline-4=”h4″ question-4=”What will Bitcoin Cash be worth in 2030?” answer-4=”Analysts’ opinions give a range between $1,590 and $9,038.” image-4=”” count=”5″ html=”true” css_class=””]


Disclaimer

This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price. 
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.

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Author: changehero
April 14, 2020

What happened to Bitcoin Cash? On 8th of April, the event known as halving occurred in the Bitcoin Cash network. In essence, starting from the block #630,000 the miner’s rewards were cut down in half, from 12.5 BCH to 6.25 BCH. It is an anti-inflation mechanism native to the Bitcoin network, from which the Bitcoin […]

Bitcoin Cash post halving analysis by ChangeHero

What happened to Bitcoin Cash?

On 8th of April, the event known as halving occurred in the Bitcoin Cash network. In essence, starting from the block #630,000 the miner’s rewards were cut down in half, from 12.5 BCH to 6.25 BCH. It is an anti-inflation mechanism native to the Bitcoin network, from which the Bitcoin Cash diverged, or forked, in 2017.

Why is Bitcoin Cash Halving a big deal?

Many people treat BCH and upcoming BSV halvings as a rehearsal of the similar event that is projected to happen in the BTC network in late May of 2020. Historically, BTC halvings have been connected with a long-term rise in the value of the currency. In addition, lowered miner rewards shake up the mining industry by letting the opportunists take the place of those miners who chose to retire, thus creating healthy competition (in theory, at least).

What is happening with BCH now?

On the market

In terms of price, Roger Ver himself pointed out that it was like any other average day. While the first halving in the network, this has happened with BTC before, and long-timers insist that these events should not be hyped up too much and the most fun things are yet to happen within the next six months. Regardless, there was some hype, as the price has jumped from $250.19 to $277.65 within 8 hours on the day of halving (according to the data on CoinMarketCap). On the following days, though, there were no such sudden changes and the price continues to see a very slow but steady downward trend. It has to be said that these short-term changes are in no way indicative of what is to come next. 

In the network

In the short-term, there were some difficulties in the network, as the first post-630,000 block took almost two hours to mine. This might have happened because of some miners shutting mining down as soon as the rewards were cut down. For such cases, the network has a difficulty-adjusting algorithm (sometimes abbreviated as DAA) in place, to make sure the blocks are more or less always mined every 10 minutes. Although it is much more probable that it was a temporary hiccup and the process has been picked up by the miners in a couple of hours, because just one block is not enough to give all the credit to the DAA.

With the miners

Bitcoin Cash Post-Halving Hashrate
Data from CoinWarz

The miners are obviously the ones experiencing the immediate impact of this event. In one moment, their revenue was reduced in half, while the expenses didn’t. The hashrate was dropping while miners reduced their operations or switched to the more profitable at the moment BTC mining. However, the hashrate may have dropped but the blocks are still propagated and in the long run, theoretically, an increase in value of BCH might serve as an incentive for the miners to stay.
The block times, as a result, have been varying within an even wider range. While the network has not ground to a halt because of adjusting difficulty, the decrease in mining power could not leave the network unaffected. In the following summary, you can see that at the time of writing the BCH network got slower, but in general is propagating normally at about the same speed as BTC:
Bitcoin Cash Post-Halving Block time
Data from blockchair.com, compiled by fork.lol

How did people react to Bitcoin Cash Halving?

This shouldn’t come as a surprise that the posts on social media that people were discussing the most were also the most expressive. There are generally two moods about it on Twitter and Reddit: either people spell doom to Bitcoin Cash or are stocking up on popcorn to see how everything is going to unfold.

Bitcoin Cash Post-Halving
The two sentiments in one thread

Bitcoin Cash Post-Halving by ChangeHero

Will the same thing happen to Bitcoin?

Not necessarily. If anything, Bitcoin Cash is likely to be more influenced by the Bitcoin halving rather than its own, experts say. After all, BCH is following BTC price trends quite consistently, and from the previous experience, the whole market, following the first cryptocurrency, is expected to experience a long-term bull-run. That is, on the premise that history repeats itself. We shouldn’t forget that the world in 2016 was much different from what we have now.
That is it for this topic for now! Continue following this story with us by following ChangeHero on our blog, Twitter, Facebook page, Medium, join our Telegram channel and the ChangeHero Subreddit. Until the next one!


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Author: changehero
March 31, 2020

Back in 2008, and even before that, enthusiasts like Satoshi Nakamoto were coming up with ways to give the power of the money back to the people. The one that came to be the most prominent — Bitcoin — was envisioned as an “electronic cash” system. While a lofty goal in itself, it eventually was […]

What is Bitcoin Cash by ChangeHero

Back in 2008, and even before that, enthusiasts like Satoshi Nakamoto were coming up with ways to give the power of the money back to the people. The one that came to be the most prominent — Bitcoin — was envisioned as an “electronic cash” system. While a lofty goal in itself, it eventually was up to the followers to make this goal true. For that purpose, through polemics and discord, a few visions have risen up — now known as Bitcoin forks. This time we‘re going to have a look at one of those forks, Bitcoin Cash, to tell you how and why it came to be and how it works.

Let’s start with a brief explanation of what a fork is. You can think of a fork as an update for the blockchain. It usually puts new protocols in place. Forks can be divided into soft forks and hard forks, which irreversibly change the blockchain. However, there are times when a hard fork is not supported by the entire community. If the divide is significant enough, it is possible that after the update both original and updated versions will continue to exist. However, in this case, the new records on the divergent chain will not be supported by the original one, and vice versa.

The Block Size Dilemma

While in 2017 Bitcoin was on the rise, but mainly as a trading asset and a unit of value storage — it didn’t really go mainstream before that. However, the debate about the future of the network has been going on in the community for about three years. The block size in Bitcoin blockchain was only 1MB, and the increasing load was not going too well for the network. The community started pushing the idea of increasing the block size, but not everybody agreed. Alternatively, SegWit was offered as an option. SegWit, or Segregated Witness consensus layer, separates digital signature (input that verifies the sender has enough Bitcoin to send) from the transaction, which makes it take up less space. On top of that, second-layer solutions like Lightning Network (a network of off-chain channels) would have to be further implemented.

Why would the idea of a bigger block be controversial, though? The thing is, Bitcoin is based on the Proof-of-Work. A larger block in a PoW blockchain means increased mining maintenance. While it would do wonders for scalability and increase the transaction speed significantly, it would also make mining more demanding and therefore, less decentralized.

Bitcoin fork
Bitcoin Cash hard fork as explained by Bitcoin.com

After a years-long back and forth, it became evident that a compromise could not be reached, and so, on August 1st, 2017, the fork took effect. The new chain was backed by large mining pools like ViaBTC, mostly based in China. ViaBTC investor, Jihan Wu, co-founder of Bitmain, is often called a leading proponent of the fork. Bitcoin.com also supported the split by virtue of Roger Ver.

The Voices of the Community

Often called a “mastermind” behind the fork, Jihan Wu is a co-founder of Bitmain and has been running his own company, Matrixport, since 2019. His influence over the cryptocurrency industry in China is peerless — Bitmain has been the largest provider of hardware for Chinese miners for a long time, and his net worth makes him the second richest person in China in the sphere, second only to his fellow co-founder Micree Zhan.

Bitcoin Cash is also strongly associated with the name of Roger Ver. While surely not the only individual behind those, he’s one of the most prominent figures associated with these events and Bitcoin Cash itself, as its most vocal and influential supporter. He ran his own company Memorydealers for 13 years and served as a CEO at Bitcoin.com until 2019. Among his investments are Kraken, Ripple, blockchain.info and Bitpay. An early Bitcoin adopter and investor, he is also known for his anarchist and libertarian views.

Roger Ver
Roger Ver. Source: Forbes

BCH Essentials

Bitcoin Cash is designed to recreate the original vision for the Bitcoin: peer-to-peer electronic cash. If we compare it to the digital payments of today, it certainly has its advantages: generally lower fee for transactions, more reliability thanks to the confirmation mechanism, permissionless and higher speed of transacting.

How does Bitcoin Cash work, anyway? Unsurprisingly, in a lot of ways it is similar to its “parent” currency, Bitcoin. It also uses the Proof-of-Work consensus mechanism, its block size and difficulty is adjusted in the same way as with BTC, to produce a new one every 10 minutes. However, the block size limit is maintained at 32MB, and the difficulty adjustment algorithm is more effective than that of the original. Theoretically, this will allow to process up to 280 tx/s.

At the time of writing the article. Bitcoin Cash is ranked 5th with the market cap of $4,053,160,495, price $220.76, traded volume $3,200,825,776 and 18,360,300 BCH in circulation according to CoinMarketCap.

Bitcoin Cash is all about utility, so much so that they aim to compete with or even replace fiat currencies. This is why they promote their solutions to businesses worldwide, and now thousands of vendors accept payments in Bitcoin Cash. The ecosystem also includes social sites like Memo — Bitcoin Social Network or Honest Cash. And as expected from a major cryptocurrency, you can buy or sell it on most exchanges, in apps and services.

What’s In Store for BCH: Roadmap and Halving

According to the roadmap of Bitcoin Cash, they sure are aiming for the Moon. Jokes aside, they do have such large goals as adoption on the global scale and exceptional extensibility planned. But that’s a really long term plan. Right now, the community is working on blockchain pruning, faster block propagation through the means of improving hardware, fee improvements and pre-confirmed transactions for merchants. The BCH blockchain upgrades twice a year on a timestamp rather than when a certain number of blocks is created. The next update is expected to be on May 15th. Among the other proposals, it is going to include the Infrastructure Funding Plan, the first and rejected version of which made news in January earlier this year, dubbed “mining tax” by the media.

At the time of writing, in about a week or less, BCH mining rewards are going to be cut in half as a part of a hard-coded process called “halving”. Since out of the major SHA256 networks (others being BSV and BTC), BCH is going to experience halving the first, the hash rate is expected to drop since the miners will be switching to more profitable networks. As for the price, there is no confidence that BCH will follow the same positive trends that occur around BTC halving.

Summary

In November 2018, another hard fork occurred, resulting in further split of the community and inception of BSV. So now, in 2020, does any of the existing Bitcoin forks succeed in realising the original vision? We guess this is a question only Satoshi Nakamoto can answer. If not for the ongoing debates and discord within the community, Bitcoin Cash wouldn’t have the reputation that it has now, but it also wouldn’t even come to be. Some maximalists call this fork a scam abusing the name of the largest cryptocurrency. Others support the cause of BCH to enable convenient P2P transactions globally.

Bitcoin Cash is one of the cryptocurrencies you can exchange with ChangeHero with no sign-ups, at the best rates and extremely fast — just like envisioned, isn’t it?

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