(BCH) Bitcoin Cash Price Prediction & Forecast
[Updated 04 November 2018]
Thinking of investing in Bitcoin Cash in December 2018? Here is our honest BCH price prediction for 2018 and beyond.
- Fundamental Analysis
- Technical Analysis
- Specialists’ Perspective
- Bitcoin Cash Price Prediction 2018
- Bitcoin Cash Price Prediction 2019
- Bitcoin Cash Price Prediction 2020
- Bitcoin Cash Price Prediction 5 years
- Our Prediction
Bitcoin Cash (BCH) is currently the most successful coin to ever fork from Bitcoin (BTC), sitting as the fifth most popular cryptocurrency by market capitalization.
Bitcoin Cash was created to address Bitcoin’s scaling issue by implementing an increased block size of 8MB, a number that was again quadrupled to 32MB in May 2018 — allowing for fast, cheap payments without intermediaries.
Bitcoin Cash (BCH), like practically every other major cryptocurrency, has witnessed a frightful 2018 — with more than $70 billion wiped from its market cap, falling to just under $2.8 billion, as of writing. In this time, Bitcoin Cash has fallen from the third position to fifth by market capitalization after being eclipsed by both Stellar (XLM) and Ripple (XRP) in the last year.
In Nov 2018, the Bitcoin Cash network was rocked when two competing proposals for its future were finalized with a hard fork, producing Bitcoin ABC (currently considered the true BCH) and Bitcoin SV. Shortly following this hard fork, the Bitcoin Cash price tanked — owing to the uncertainty surrounding the coin’s future.
For the remainder of this article, the term Bitcoin Cash refers to the Bitcoin ABC implementation, as this is currently the leading blockchain, with both the highest hash rate and block height.
As it stands, Bitcoin Cash looks weaker than ever before with its hash rate at its lowest point in almost a year. Because of this, it is exceedingly likely that the value of BCH will continue to fall until it manages to garner more support.
We at BeInCrypto expect that Bitcoin Cash will fall to sub $150 by January 2019, losing an additional 6 percent of its market cap in the process.Bitcoin Cash $BCH is expected to fall below $150 by January 2019, losing an additional 6 percent of its market cap in the process Click To Tweet
From a fundamental perspective, Bitcoin Cash is struggling to remain relevant. After initially sprouting from Bitcoin in August 2017, Bitcoin Cash looked poised to tackle the growing problems cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) were facing at the time.
Bitcoin Cash is an attempt to increase the throughput of blockchain technology by increasing the block size to 32MB, allowing massively more transactions into each block compared to Bitcoin.
However, Bitcoin shortly followed up with its own temporary solution to the scaling issue — the Segregated Witness (SegWit) soft fork, which saw the Bitcoin blockchain gain a 60 percent throughput boost. This combined with the recent Bitcoin Cash hard fork has seen user sentiment fall dramatically as the blockchain struggles to find its feet.
For now, the benefits of Bitcoin Cash remain limited as few blockchains are congested in 2018, owing to the significant reduction in market sentiment since the beginning of the year.
Since its launch in August 2017, Bitcoin Cash (BCH) has experienced several periods of extraordinary growth. Initially entering the market at close to $1,500, Bitcoin Cash quickly shot up to over $4,000 in late December as the 2017 bull run approached its peak.
Following this, however, everything began to go downhill for BCH and the rest of the cryptocurrency market, as over 40 percent of the global market cap was wiped off in January 2018.
Throughout the rest of 2018, Bitcoin Cash struggled to retake previous highs, gradually losing a further 83 percent of its value between February and November before seeing a further 75 percent of its value wiped in November following a brief rally to $620.
As it stands, Bitcoin Cash (BCH) is looking extremely weak from a technical perspective, with sell orders massively outweighing buy orders, indicating this situation is likely to continue for some time. Despite this, however, cryptocurrency prices are known to be highly volatile, so a sudden recovery cannot be ruled out.
Similarly, the evidence points to a failing Bitcoin Cash, with the number of daily transactions falling drastically in the last year, down to just 7,100 per day on average, compared to Bitcoin’s 240,000. Unless Bitcoin Cash can retake ground against Bitcoin in the near term, it appears it will continue to fade as time goes on.
Overall, the vast majority of early BCH predictions painted a rosy future for the cryptocurrency. Since then, the tone has changed dramatically with most specialists now bearish about Bitcoin Cash (BCH), owing to the horrific losses the coin has endured in the past 12 months.
WalletInvestor offers up a particularly damning Bitcoin Cash (BCH) forecast, warning that it is likely a poor investment in this market environment, expecting Bitcoin Cash to lose as much as 100 percent of its value within the next year.
This bearish sentiment is mirrored by LongForecast, which expects Bitcoin Cash to lose a further 59.8 percent in Dec 2019 to close the year at an all-time low of $78 — predicting a terrible 2019 for the Bitcoin offshoot.
Offering his Bitcoin Cash prediction, Dean Pappas, advisor at networking startup Marlin Protocol, tells us he expects “BCH will continue to flounder. The Hash Wars have taken its toll and the decoupling from BTC price will continue. Ending 2018 at $100.”
Cryptoground, on the other hand, is bullish on the long-term prospects of Bitcoin Cash, expecting BCH to grow at a rate of around $600 per year to reach $818 in 2019 and $3,153 in 2023.
Unsurprisingly, Roger Ver, one of the major promoters of Bitcoin Cash is extremely bullish, expecting BCH to double its exchange rate against BTC within the next year.
Bitcoin Cash Price Prediction 2018
Since the end of 2017, the entire cryptocurrency industry has gotten itself into what can only be described as a bloodbath. In just 12 months, close to $700 million was wiped from the market capitalization of cryptocurrencies as the market sentiment grew sour.
Throughout 2018, BCH bore the brunt of the impact, collapsing to just 4 percent of its value a year prior, falling to lower than $160 for the first time since its creation.
The recent Bitcoin Cash fork on Nov 15 appears to have made matters much worse for the coin, seeing its value fall by 75 percent in the weeks surrounding the fork date.
As of yet, there appear to be no signs of slowing down, indicating the Bitcoin Cash (BCH) price will continue to fall until we reach a point where demand outstrips supply. Since the BCH price has now broken most major resistances, we are unlikely to see a bottom this side of $100.
Bitcoin Cash Price Prediction 2019
Right now, the relative strength index (RSI) of almost all major cryptocurrencies, including Bitcoin Cash (BCH), is close to its all-time low, indicating it is heavily oversold. Based on current trends, Bitcoin Cash (BCH) is likely to enter 2019 at under $100, with all technical indicators pointing to a strong sell.
As of writing, the main development team behind Bitcoin Cash has not announced any specific roadmap but has instead outlined a series of protocol upgrades and optimizations that will be considered and worked on in the coming years.
Solutions to the blockchain scaling issue and usability improvements are among the planned improvements. Although the project does not provide any timelines, reducing fees, and implementing fractional satoshis to make Bitcoin Cash coins divisible to more than eight decimal places are first on the agenda — likely appearing by Q4 2019 at the earliest.
Whether or not the planned upgrades for BCH can change what appears to be a strong downtrend with no bottom in sight remains to be seen. However, beneficial protocol upgrades have in the past been met with improved market sentiment, indicating a reversal may be on the cards for BCH in 2019.
If a reversal does happen, it is not likely to be out of line with the rest of the cryptocurrency market, so a full bullish period would likely be required to see Bitcoin Cash see $600 by the end of 2019.
Bitcoin Cash Price Prediction 2020
With a solid long-term plan, Bitcoin Cash (BCH) may be able to improve its position by 2020, potentially seeing its price increase dramatically to approach $4,000. However, unless the development team is able to deliver on its promises of a faster, globally scalable coin, Bitcoin Cash may continue to stagnate.
After recently announcing the long-term goals of Bitcoin Cash (BCH) would focus on both improving on-chain scaling and fungibility, it appears clear that the development teams understand the major causes of concern for cryptocurrencies today and are working to address them.
However, as many other projects work towards the same ends, the project that experiences the majority of the gains associated with improved scalability will likely be the coin that achieves it first.
As it stands, several other projects have plans for extreme scaling, including Bitcoin, Ethereum, Nano, ZCash and more, with the winner all but uncertain. However, unless Bitcoin Cash can gather some significant support in the meantime, the project may not survive long enough to see it even compete.
Bitcoin Cash Price Prediction 5 years
Approaching the five-year mark in and of itself is a feat that few cryptocurrencies survive long enough to see. In five years, significant changes can be expected both to the capabilities of the Bitcoin Cash (BCH) platform, and its price, which could very see it exceeds it $4,000 all-time high.
Forecasting the long-term price of a cryptocurrency that only recently saw its first birthday is a tricky endeavor, particularly a cryptocurrency that appears to be losing ground against its main competitor — Bitcoin (BTC).
In order for Bitcoin Cash to see significant gains in the next five years, it must address several of its major shortcomings, particularly user adoption. If Bitcoin Cash manages to capitalize on the momentum of Bitcoin and produce a proven scaling solution, it might then be considered competitive again.
We at BeInCrypto believe that if Bitcoin Cash (BCH) manages to deliver on its promises, it has enough support behind it to see another huge rally in the near future. We forecast the BCH price will reach a maximum of $600 within the next year, despite its current downtrend.
With its still sizeable community of both users and developers, the coin still appears to have a lot of gas left in the tank before it can be considered a failure. Although the coin has been in a downtrend for approximately 75 percent of its existence, we do not expect this to adequately reflect the long-term trend of the coin, rather being an example of unfortunate timing.
Because of this, we at BeInCrypto expect that Bitcoin Cash will have a weak start to 2019, but will pick up at some point over the next two years to see the price of Bitcoin Cash close-in on the $4,000 mark by Q4 2020.
|Period||Bitcoin Cash Price Forecast|
|Best Case Scenario||Worst Case Scenario|
Nevertheless, investors should always do their own research and tread lightly before investing in cryptocurrency. The market is notoriously volatile, and anyone investing in Bitcoin Cash should be prepared to lose their entire investment.
What do you think of our price prediction for Bitcoin Cash (BCH) in 2019? Do you think Bitcoin Cash can ever compete with Bitcoin? Let us know your thoughts in the comments below!
Images courtesy of Shutterstock, CoinMarketCap, TradingView.
Disclaimer: The contents of this article are not intended as financial advice, and should not be taken as such. BeInCrypto and the author are not responsible for any financial gains or losses made after reading this article. Readers are always encouraged to do their own research before investing in cryptocurrency, as the market is particularly volatile.