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Bitcoin Cash, BCH
$2 141 384 705
24 Hour Volume
$98 198 490
19 242 700
Bitcoin Cash / US Dollar Chart, BCH/USD ()
About Bitcoin Cash
Bitcoin Cash is a cryptocurrency that emerged in August 2017 as a result of the hard fork of classic Bitcoin. Analysts believe that this particular coin will become the means of payment of the future. Their forecasts indicate: in 2020, the price of Bitcoin Cash in US dollars will double.
Bitcoin Cash features
The driving force behind the divergence was a developer Amaury Sechet. He still continues to improve the project. The main difference of the new blockchain from the original one is a high speed of transactions and low commission on them, which makes the difference for the Bitcoin Cash price. It was possible due to an increase in the block size from 1 to 8 MB. In 2018, it was increased again — up to 32 MB.
Today the project has such features that impact the BCH price:
- Low commission on cryptocurrency transactions;
- Increased protection against erasing, which increases the reliability of operations;
- Network complexity changes every six blocks.
Despite the similarity of BCH and BTC, there has always been a significant spread between their prices. The peak of the Bitcoin Cash price was fixed at around 4350 USD during the boom in December 2017 (Bitcoin price was 20 thousand dollars then). Now there is a 29-fold difference between their prices. Cryptocurrency takes the fifth place by capitalization.
In November 2018, a hard fork took place in the Bitcoin Cash network, and an alternative coin, Bitcoin SV (BSV), was branched off from it. Then, many exchanges decided to indicate the main coin with the BCHABC ticker, and the crypto community started calling it Bitcoin ABC, but by the end of the year, they returned to the usual name. Since then, both cryptocurrencies have not stopped their opposition for the maximum compliance with the Satoshi’s Vision, as well as for the top 5 among all cryptocurrencies.
Outlook and forecast for Bitcoin Cash
As for the Bitcoin Cash price, today it is quite stable. There are no sharp ups or downs, there is still a correlation with bitcoin. The Bitcoin Cash chart shows that the price is in the range of 250–300 USD for the following reasons:
- Dependence on BTC, which did not manage to be stable during the global crisis of 2020;
- High liquidity compared to other forks;
- Active support by followers.
Despite the fact that the coin has not received an overall approval in the crypto community, it has hardcore fans who are ready to defend the project with all their might. The most notable among them is crypto investor Roger Ver. He constantly makes loud statements, after which the BCH price rockets up. Some media even consider him the creator of this cryptocurrency. By following his social media profiles, it is possible to make a simplified fundamental analysis based on them.