Bitcoin Cash will rise again
Bitcoin Cash Forecast (BCH) 2021 and 5 year trend
That moves the Bitcoin Cash price in May
The hard fork of 2018 hit Bitcoin Cash hard. Both the price of the currency and the market capitalization decreased significantly. How will the Bitcoin Cash forecast for 2020 and the years to come? Can the popular cryptocurrency recover from the internal dispute?
Current price development
The turn of the year was also positive for Bitcoin Cash. Since January 1, 2021, the price has risen by almost 40% to currently $ 475 (Sand: January 17, 2021). Nevertheless, after the significant correction on January 11, 2021, BCH is still in the discovery phase. In the meantime, the BCH rate rose to over $ 613. Since that correction, BCH has been sideways in a channel between $ 450 and $ 500. Often referred to as Bitcoin's sister currency, the cryptocurrency is often tied to the rate of the leading digital currency. Analogous to Bitcoin, the price of Bitcoin Cash often rises and falls in a similar way.
With Kim Dotcom, Bitcoin Cash has a prominent supporter who regularly advertises BCH. He has already announced several times on Twitter that Bitcoin is a store of value for him and Bitcoin Cash is a means of payment. The founder of a legendary file sharing service also announced in January 2021 that he wants to work actively to make BCH suitable for the masses. Dotcom considers the Bitcoin Lightning Network to be far too unstable. He himself plans to use Bitcoin Cash exclusively for his own innovations in the future. What exactly Kim Dotcom's plans are, however, is not known. His last project, which should be published on Bitfinex, was discontinued before the end of development.
The Bitcoin Cash War took its toll
Bitcoin Cash (BCH) was created in 2017 as a hard fork of Bitcoin. A group within the Bitcoin network saw the solution to the scaling problem in increasing the block size from 1 MB to 8 MB. Since there was no agreement, Bitcoin Cash split off from Bitcoin. Although BCH was never able to overtake Bitcoin, the crypto currency is still successfully in the upper echelons.
A discussion started again about a year after this hard fork. Again there were two camps: Bitcoin Cash Satoshi's Vision (BSV) and Bitcoin Cash ABC. The community was allowed to vote and the majority ultimately opted for the ideas of the BCH ABC group, to which Roger Ver belongs. Since then, BCH ABC has continued as Bitcoin Cash on most exchanges. However, the dispute resulted in the Bitcoin Cash course losing a lot of points. A bright spot for the Bitcoin Cash forecast could be the strong development of the Bitcoin.com brand, which is expanding into various areas and now also offers a crypto exchange.
Bitcoin Cash forecast: is BCH losing relevance?
In the past, BCH scored points for having an acceptable solution to the scaling problem, unlike Bitcoin. The changed block size also lowered transaction fees. However, if BCH loses these advantages, it hardly differs from Bitcoin. The question then arises as to how the subsidiary currency would like to assert itself against Bitcoin.
The Lightning Network can become a real threat to the Bitcoin Cash forecast in the future. It offers a solution to the scaling problem and lowers transaction fees. Another advantage: there is no need for hard forksto implement the Lightning Network. As it does not affect the main network directly. If Bitcoin Cash can't come up with new concepts to maintain its competitive advantage, it may lose touch with Bitcoin.
Bitcoin Cash forecast 2021 to 2023
Bitcoin Cash currently stands at around US $ 300 (April 2019). In the ranking by market capitalization, it is in fourth place with US $ 5.384 million. The top places are fiercely competitive. In a market as volatile as cryptocurrencies, strong fluctuations are not uncommon and make it difficult to provide an accurate analysis. Many factors can have a profound effect on the value of a cryptocurrency. Here's what some analysts and websites say about the Bitcoin Cash forecast in the coming years:
In general, the analysis website Smarteum sees the future for BCH as positive. The five-year forecast for Bitcoin Cash is around US $ 10,000. Nevertheless, they assess the situation realistically and do not expect any sharp price increases this year. A lot depends on how BCH develops and whether they can maintain or even expand their competitive advantage. Since BCH is closely tied to the Bitcoin course, it will likely go through similar phases. According to Smarteum, Bitcoin Cash is a good choice as a long-term investment for people with a lot of patience.
Here the analysts believe in a renewed high for Bitcoin Cash. By the end of 2019, the value could be US $ 2,000. The reasons for this assessment include the well-known development team behind BCH and the success of the Winklevoss brothers after being listed on the Gemini Exchange. If BCH can expand its mainstream acceptance and thereby gain in trading volume, its success will also continue.
Coinswitch expects further price increases for 2020. Because the roadmap promises some improvements and extensions. By the end of 2020, BCH could then rise to 4039.6 U $. This trend will continue through 2023. In 5 years, the value of a Bitcoin Cash coin would be US $ 5891.
The website BeinCrypto has a completely different tone. Here one mainly relies on historical data and algorithms to make a Bitcoin Cash forecast. They see them just as critically competitiveness from Bitcoin Cash. BeinCrypto expects losses between 2019 and 2020. In December 2019 the price could be US $ 16.50. At the end of 2020, the analysts expect Bitcoin Cash to trade for US $ 2.70.
The 5-year Bitcoin Cash forecast is very vague. Either BCH could hit its all-time high of $ 4,000 again or disappear completely from the top of the crypto lists. The development depends heavily on whether Bitcoin Cash can compensate for its weaknesses, stand out against the competition and create a broad user base.
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