Luno, one of the leading global crypto exchanges added Bitcoin Cash to its platform. Moreover, in Japan Bitcoin Cash adoption is growing at a fast pace. As per the Bitcoin Cash (BCH) resource page, there are more than 70 applications or projects built around BCH chain, which includes third party support and protocol development continuing to spread innovation. Very recently BCH enthusiasts overjoyed when one of the largest telecom giants, AT&T announced that their users can now pay in Bitcoin Cash for their bills through Bitpay. AT&T is one of the top 10 Fortune 500 companies, with a large number of consumer base across the world, which leads to the fact that BCH user base might also increase and hence the adoption rate might grow exponentially in the coming months. A month back, BCH went through a soft fork involving the addition of Schnorr signature.
Bitcoin Cash price for today March 13, 2020, is $168.07 USD. Its current circulating supply is 18,327,913 BCH with a market cap of 3,080,383,758 USD. As per Bitcoin Cash price prediction today, BCH might go bullish very soon.
What is Bitcoin Cash?
Bitcoin Cash was created to overcome two of the major challenges being faced by Bitcoin- Scalability- by increasing the “block size”, BCH can process a higher number of transactions per second when compared to Bitcoin. The other factor is Transaction Fee- Bitcoin’s transaction fee is around $1.31, whereas it is around $0.125 for Bitcoin Cash.
For miners, Bitcoin Cash is much more lucrative than Bitcoin, so if this prompts for more miners to switch from BTC to BCH, then this could lead to further growth for BCH. Just like its parent coin, BCH experienced an exponential boost in growth in 2017. Justifying the major community’s prediction, Bitcoin Cash has started quickly making its way to the top and managed to reach important cost milestones. The coin was launched at the price of $250, and the next day, it already cost $651 per coin. By the middle of the month, it already cost $900.
Even though it is going through storms right now, the crypto world is quite optimistic about its comeback. Bitcoin Cash has been going bearish as of now because of the market fall, where it fell by around 31.37%, which shows a bit of a bullish trend, which might go on for the days to come as predicted by most of the market experts.
Market prediction for Bitcoin Cash price
The cryptocurrency market is highly volatile and major price changes can happen within minutes due to factors like regulations, competition, the emergence of new tech, market sentiments and so on. Hence, it is certainly not an easy task to predict the price of the fourth largest cryptocurrency in the world.
But, there are some predictions given by crypto traders/enthusiasts or even crypto forecasting websites on how BCH would perform in the future. Let’s check those out:
#1 Trading Beasts
Trading Beasts predict that 2020 might prove to be lucky for BCH, wherein they predicted that for 2020, BCH price can increase as much as $5,635.44 and be as low as $3832.10.
#2 Roger Ver
Roger Ver, referred to as Bitcoin Jesus has been a vocal supporter of Bitcoin Cash since its inception and predicts that Bitcoin Cash might be 2 times more valuable in a years time. According to him, Bitcoin Cash is popular as it can be stored and spent similar to cash, which makes it possible to be used in day to day life activities.
Smartereum is a crypto prediction website that predicts that Bitcoin Cash might reach as high as $6700, which is around 500% growth in less than a year. Similarly, the five-year prediction of Bitcoin cash price is around $ 24,600.
#4 Crypto Ground
Crypto Ground predicts that Bitcoin Cash can plunge upwards and might reach $707 by the end of 2020. In 5 years, BCH might reach $3,067 in five years time frame.
#5 Price Prediction
Another cryptocurrency price prediction forum speculates that BCH might reach $9560.28 by the end of 2020, which might or might not be true. BCH has winning features, which helped them develop a positive outlook on BCH.
Our verdict on Bitcoin Cash price 2020
There are several development teams working on BCH, who has been working with the representatives from a variety of projects, including Bitcoin Unlimited, Bitprim, Nchain, Bitcrust, ElectrumX, Parity and Bitcoin XT. These developments had happened and are starting to materialize. Very recently, Bitcoin Cash ABC got enlisted in the Gemini Exchange, led by the Winklevoss brothers with NYDFS approval. A couple of months back, Bitcoin Cash experienced over 2.1 million transactions, which accounted for 63 percent of total cryptocurrency transactions conducted during that 24-hour span. This was a great success for the BCH community as this could change the entire scenario. By the end of 2020, BCH might reach 800 USD, which is more than 2X of the current price.
Bitcoin Cash price prediction 2020
2020 will prove to be a remarkably good year for Bitcoin cash as there will be innovations and developments. There are some unconventional things planned for the advancement of the BCH infrastructure. In addition to the Bitcoin Cash wallet support, the Bitcoin Cash community is also planning on testing a beta Telegram tipping bot — Tipmebchbot, which enables Telegram users to tip other users using BCH. This advancement might happen before 2020 also. BitcoinCash might even come up with its own hard forks, which can lead to many possible ways that help to hold Bitcoin to get free coins. The entire year will see the price surge and by the end of the year, BCH is estimated to reach $800 USD.
Bitcoin Cash price prediction 2025
Bitcoin Cash(also BCH ABC) will go through numerous developments in five years. As Bitcoin is the parent of BCH, it is certain that BCH will never go into oblivion. Bitcoin will never die out, hence it will never let its forks fade. Its future performance will most likely be linked to that of bitcoin’s performance. With the similarities and shared history between the two currencies, BCH is able to trade on bitcoin’s past successes and credibility in the cryptocurrency world. It is estimated that Bitcoin Cash might reach $5891 USD by the end of 2025, considering the roadmaps it has created.