Bitcoin was the first famous cryptocurrency and it gained all a coin could ask for in a few years only. As its base was developed in 2009, it has some issues with respect to the current growing world.
Around 2013, problems became visible in it like
- It is slow as it can generate a new block every 10 minutes for the blockchain.
- Blocksize is limited to 1 MB
- It could have only 7 transactions per second.
These problems are considered and addressed by developers around 2015 and among them two groups emerged, one of them supported small-block solutions and the other one supported large-block solutions. The group with small-block solutions proposed a hard fork of Bitcoin with a greater block size but not too big and hence much better throughput. This is when Bitcoin Cash was born.
Launched in 2017 by Roger Ver and group, Bitcoin Cash is a hard fork of Bitcoin which is much like Bitcoin with an increased block size of 8 MB and hence an average transaction speed of 116 transactions per second. In other words, this is just a form of Bitcoin used for daily transactions such as buying a cup of coffee. Also, the processing fees for BCH are less than BTC.
Price History of BCH
Tracing back to the year of launch in 2017, it opened at 294 USD and touched the highest price of 1091 USD in August itself. The opening month saw a volume of 17 Billion USD. Later the year could be considered as the best year a coin could ask for in the release year.
The coin keeps increasing and opens at 1381 USD in December and reached the mark of 4355 USD with a volume of 64 Billion USD. The lowest in the month of December was 2533 USD which is almost double the highest price it could see in the coming years.
Opening at 2534 USD in Jan 2018, it reached the price of 3071 USD in the same month but started to fall. The next month coin saw a fall up to 764 USD which continues to fall to 75 USD in December 2018. The volume was maintained above 10 Billion USD throughout the year.
The next year, 2019, was not as worse as 2018. It was the year of recovery from the fall it faced. It opened at 150 USD and closed at 204 USD. It saw its peak at 522 USD and its lowest at 108 USD. The highest volume was recorded in the month of May and it was 80 Billion USD.
2020 yet again was the year of recovery for the coin. But the recovery was pretty slow from the great fall of 2018. In 2020, BCH opened at 204 USD and reached 493 USD but again fall to the mark of 139 USD. It closed at 343 USD in December. The volume crossed the 100 billion dollar mark in 4 months and was at 117 Billion USD in the last month. Although the coin grow it never reached its previous glory, this was yet another slow growth year.
The next year, 2021, was a year which saw a steeper curve of growth. BCH opened at 342 USD in January and closed at 430 USD in December. The net yearly growth is not that evident but the coin has seen a maximum of 1635 USD in May 2021 and dropped to 334 USD. The volume was pretty good and crossed the mark of 200 Billion USD in 2 months.
Things are going south for the coin in 2022. As of the day of drafting, the coin has not touched the mark of 500 USD even once in 11 months and the price is constantly falling. BCH opened at 430 USD in January and is priced at 114 USD on November 26. The highest it has seen is 451 USD before the start of its second fall. Also, it has fallen below 100 USD to touch 88 USD. The volume too is falling and was recorded at 7 Billion USD in the month of October.
Present Statistics of BCH
Currently, at its low, BCH is priced at 114 USD with a market cap of 2.199 Billion USD and a fully diluted market cap of 2.4 Billion USD. 19 Billion BCH is currently circulating in the market which can scale up to 21 Billion coins.
Price Prediction of BCH
Price Prediction of BCH 2023
If the coin grows according to the market, it is expected to reach close to 200 USD by the end of 2023 with a highest of 196 USD and a lowest of 91 USD. The coin will remain tightly close to 100 USD in the first half and will grow towards the next 100 USD in the other half.
Price Prediction of BCH 2024
This is expected to be a good year for BCH as it will cross the mark of 200 USD in the first month and will grow with a steep slope and will cover the next 100 dollars in just 2 months which took it half year to cover in 2023. It crosses the 400-dollar mark as well in November and will close at around 450 USD. The maximum and minimum expected in 2024 are 458 USD and 188 USD respectively.
Price Prediction of BCH 2025
This is predicted to be a bad year for whole the market and hence BCH will suffer as well. After the peak of 458 USD in December 2024, the peak will shift to 389 USD in January 2025. The graph would keep playing and would see a peak of 442 USD and a low of 315 USD.
Price Prediction of BCH 2030
After 2025, the coin will fall for 2 consecutive years but again will see a glorious rise which will take the coin to the height of 972 USD in 2029 which was just 473 USD in 2028. The coin will cross 1000 USD in 2030 and will record a highest of 1083 USD.
Can BCH reach 1000 USD?
Yes. While looking closely at the past, present and future of the coin, it is predicted to cross 1000 dollars in USD with a calculated market prediction. As its name is closely and deeply associated with Bitcoin, predictions would not work. The coin may see a spike at any point in time and it is not impossible to see the coin at 1000 USD the next month.
How much will BCH cost in 2030?
BCH will cost around 1000 USD in 2030.
Is BCH good for storing money?
The main purpose of BCH was to provide a coin which can be used for the daily transaction. BTC is preferred to store money.
What would be the price of BCH in 2025?
BCH would cost around 440 USD in 2025 which is expected towards the end of the year.