As the year begins wrapping up, we look to next year to see what experts believe crypto has in store. Since launching in 2017, Bitcoin Cash (BCH) has firmly established itself in the market and positioned itself in the top 10 cryptocurrencies by market cap. BCH currently sits in the number 6 position, trailing behind the likes of Bitcoin, Ethereum, Tether, Ripple, and Chainlink. Let’s take a look at Bitcoin Cash (BCH) price predictions for 2021 and beyond, and see what the future is likely to hold for this relatively new cryptocurrency.
What Is Bitcoin Cash (BCH)?
As mentioned earlier, Bitcoin Cash was established in 2017, following a hard fork of the Bitcoin network. Following much disagreement on the future of the original cryptocurrency, many followed the hard fork and adopted Bitcoin Cash due to its powerful adaptations. When the developers worked on the new network, they chose to increase the block size, allowing for faster transactions and lower fees. Looking to create a network that offers more everyday functionality, Bitcoin Cash is a faster and cheaper alternative to transferring value than when compared to its predecessor.
This peer to peer cryptocurrency is often considered to be “digital cash” when compared to Bitcoin’s “digital gold” status. As of November 2020 following the latest update, Bitcoin Cash’s block sizes are now 32MB.
Bitcoin Cash (BCH) Price History
Before we jump into our Bitcoin Cash (BCH) price predictions for 2021 and beyond, let’s take a quick look at the cryptocurrency’s overall price history. Launched in August 2017, Bitcoin Cash was trading for just under $300. Over the next several months the entire cryptocurrency market hit a boom, catapulting most coins to their all time highs. Bitcoin Cash’s all time high is $4,355.62, experienced on 20 December 2017. After this, the market went into a dark period, with most coins losing significant amounts of value.
Following a 6 month downtrend, BCH was trading at $620 in April 2018, which soon turned. By May 2018 the price had risen to $1,700, and then again began another gradual downtrend. By November, a hard fork on the network instigated further price drops, sending the Bitcoin Cash value to its lowest recorded value of $75 in December 2018.
Things picked up again in 2019 with BCH trading around $300 and $400, closing 2019 with a value just under $200. 2020 welcomed a spike in price, with BCH trading at $585 mid February. Since then the price has ambled around the $200 mark.
Bitcoin Cash (BCH) Price Predictions For 2021 And Beyond
It’s time to jump into the price predictions, please note these are speculative and in no way offer financial advice.
Crypto trading platform, Trading Beasts believes that Bitcoin Cash will open the new year at around $250, steadily increasing over the next few months to reach $490 by the end of 2022.
Wallet Investor is more bullish in their estimations, placing BCH at the $1,000 mark for 2021.
Digital Coin Price, a crypto price prediction website, believes that the coin will reach an estimated $1,000 by 2025. It’s worth noting that they weren’t too far off in their 2020 prediction, stating that the coin will reach a peak value of $550, not far from its actual peak of $485.
News platform, Smartereum, offers another bullish prediction, predicting that the cryptocurrency will reach $6700 by the end of 2021, and reach a massive $10,000 in 2025.
Will BCH Drive The Bulls Or The Bears?
No one can say with certainty what the future holds for Bitcoin Cash. If it continues on its path of adoption and real world use cases, it is set to continue on a positive trajectory. Recently onboarded to our Oobit services, users can purchase Bitcoin Cash instantly with simply their credit or debit card, and use our military-grade storage solutions for free.
If any of these Bitcoin Cash (BCH) price predictions for 2021 and beyond turn out to be accurate, your investment today could be well worth it.
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