Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 306. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on September 18, 2019
As part of the Bitcoin Cash forecast, a test of level 304 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 321. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 297.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 290. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect acceleration of the cryptocurrency fall.
Bitcoin Cash (BCH/USD) forecast and analysis on September 18, 2019 implies a test level of 304. Further growth is expected to continue to the area above the level of 321. The conservative area for buying Bitcoin Cash is located area of 297. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 290. In this case, we should expect a further fall.
Bitcoin Cash SIM Hack Rumor Sparks Online Debate
A new story about an alleged crypto SIM hack is making its rounds across the internet, and it seems to be sparking more conspiracy theories than facts. The story in question comes from a now-deleted post on Internet forum Reddit, where it was explained that a Chinese cryptocurrency investor lost up to $30 million in Bitcoin Cash and $14.4 million in Bitcoin.
Online Sources Pick Up an unverified Story
The original report explained that the investor’s SIM card was hacked, and the alleged victim decided to beg BCH miners to help track the transactions. The post was deleted not long after it was originally published. Unfortunately, the internet never forgets. The post was picked up by Dovey Wan, a Chinese blockchain insider and head of Primitive Ventures.
In a series of tweets, Wan explained pretty much what was in the Reddit post, inclusive of her opinions on the matter. She confirmed that keeping so much in cryptocurrency was a “stupid move “in the first place, while also adding details in real-time that the hacker seemed to have been moving the money stolen into a mixer to conceal their identity and the source of their funds.
Wan also pointed out that the victim seemed to have been Josh Jones, the founder of Bitcoin Builder, a service with close affiliations to hacked crypto exchange Mt. Gox. Bitcoin Builder came into prominence around the same time that Mt. Gox imploded, as it provided a means for the exchange’s users to trade the Bitcoins in their accounts despite the freeze put on the exchange’s funds.
The service also created an arbitrage trading arm for users to take advantage of the spread between Mt. Gox and other exchanges. Traders on bitcoin Builder could sell the Bitcoins in their Mt. Gox accounts on the Bitcoin Builder marketplace, thus taking advantage of the exchange’s temporary freeze to make money. However, it would seem that the service didn’t operate for long, as Mt. Gox never came back from that infamous hack.
Bitcoin Cash Takes a Slight Downturn
Regardless, it’s currently impossible to find out if Jones was the victim of the hack. His Twitter account hasn’t had a tweet since August 2019, and while a lot of industry news outlets have already picked up on the story, none has been able to verify anything concrete. As for Bitcoin Cash, the asset’s price has taken a tumble over the past 24 hours. It’s trading at $386.36, down 1.7 percent on the day after crossing the $400 threshold for the first time in about a week.
It’s still unknown whether the drop was caused by panic over the alleged hack, as the entire crypto market seems to be having a rough day- of the top crypto assets by market cap, only Tether has managed to be trading up on the day, with a paltry 0.3 percent increase in the period.
Bitcoin Cash Price Prediction 2020 | 2025 | 2030 – Future Forecast For BCH Price
In this guide, we will voice our own and market’s opinion on BCH future while discussing Bitcoin cash price forecast for 2019 and beyond.
Since 2019 is almost up, Bitcoin Cash price prediction 2020 is much more interesting so we made sure to include that forecast as well, just make sure to read until the end.
Now, let’s head into it.
Before we delve deep into the BCH price prediction and answer questions if Bitcoin Cash is a good investment or not, why will BCH succeed or fail or while will BCH price rise or drop, let’s quickly throw a glance at what is Bitcoin Cash and its to date history.
Bitcoin Cash Intro
In mid-2017, a group of developers wanting to increase bitcoin’s block size limit prepared a code change. The change, called a hard fork, took effect on 1 August 2017. As a result, the bitcoin ledger called the blockchain and the cryptocurrency split in two.
Bitcoin Cash (“Bcash”) was created out of tension among early Bitcoin investors over rising transaction fees and increasingly divergent opinions on the best on-chain scaling solutions for Bitcoin. Bitcoin Cash also prioritizes strict adherence to what is called Satoshi’s “vision” for the original Bitcoin. Viewing peer to peer transactions as the core value proposition of the network and the factor that should be optimized versus other competing factors like security.
It differs from the other versions in that in enabled the increase of the block size from one MB to eight MB. It’s overall goal is to increase the number of transactions that can be processed by the network, hoping that Bitcoin Cash will be able to compete with the volume of transactions that industry giants like PayPal and Visa can currently process.
Bitcoin Cash is one of the largest cryptocurrency projects measured by market cap and is fighting EOS and LTC for the 4th spot.
BCH Roadmap for 2019
The official bitcoincash.org website states that Bitcoin Cash is set out to achieve three goals:
The needed technical improvements can be divided into three categories:
- Enable Bitcoin Cash to scale from ~100 Tx/s to over 5,000,000 Tx/s. Protocol improvements must be made so that mass-parallelization can enable this level of transaction processing.
- Improving the payment experience to ensure that it is instant and reliable. Transactions should be secure within three seconds.
- Make Bitcoin Cash extensible. An extensible protocol makes future improvements less disruptive, and provides a solid base for businesses and developers to build on.
You can see a complete roadmap on the image below or by clicking here.
Our Bitcoin Cash Price Prediction for 2019
BCH, as the rest of the cryptocurrency market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, BCH can hope for one as well. Since that is very unlikely, don’t expect much to change for BCH price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
To summarize, Bitcoin is the focal point of the cryptocurrency market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the cryptocurrency market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
Long-term Price Prediction for BCH
As a result, over 95% of cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will BCH be among those 5%?
An examination of the available 600+ days worth of data on the bitcoin cash blockchain shows that despite the impassioned arguments and big promises made about its 8 MB block size, it has never come close to filling out this capacity.
Bitcoin Cash still remains far behind Bitcoin not only in proportional terms but also in absolute terms as both miners and consumers have overwhelmingly chosen to remain with Bitcoin. The data shows that far from filling out or even getting anywhere close to its 8 MB block size, BCH has averaged a block size of merely 171 KB since the August 2017 fork. Bitcoin, by comparison, has averaged about 934 KB of its 1 MB block capacity over the past month. In other words, BCH is utilizing just about 2.1 percent of its block capacity.
It appears to be a failed experiment now that Lightning Network is maturing. BTC invested in a layer 2 solution and BCH invested in marketing to deceive new investors and mostly attacking BTC. And that backfired as the market clearly signaled which coin is seen as the “real” bitcoin and which one is relegated to the status of a mere altcoin.
Additionally, Bitcoin Cash network security is in a constant threat of reorg and 51% attack as its hashrate is couple of orders of magnitude lower than bitcoin’s.
All of this indicates that Bitcoin Cash has low probability of succeeding in its original intention but it not all is doomsday for the project. It can still pivot into being something different than bitcoin, especially as the project leaders show more agility in making changes than the bitcoin core camp. This proclivity to implementing changes and new features could be an advantage for BCH going forward.
Why will BCH succeed?
Reasons for BCH to go up and rise in price are not to be ignored. Most notable possible success propellers of BCH: cheap and fast transactions and quicker, nimbler improvements implementation.
Transactions are extremely cheap on BCH, online businesses and merchant accounts can integrate it relatively easily and seize the an opportunity to transact for a median price of $0.05 per transaction, saving heavily on merchant fees and third party implementations.
When the Bitcoin network is saturated with an overwhelming flood of transactions, wait times can be longer and transaction fees can cost its users more – Bitcoin Cash instead accommodates users with faster transactions and cheaper fees.
Why will BCH fail?
Price analysis or technical analysis won’t be able to tell you this. You have to look at the fundamentals to asses future price and decide if the project has bright future.
Small warchest to fund their roadmap, team fatigue or infights or rogue member that could disrupt the development are all possibilities that could lead to BCH failure. However, the biggest threat to BCH is one of their biggest advantages: their attempted use case. It could very well be that the lack of identity and botched hijack of bitcoin’s brand ricochet and end up hurting bitcoin cash in the end.
The whole project is frail as it essentially depends on the benevolence of couple of individuals: primarily Roger Ver and then Bitmain’s Jihan Wu. Should these two, for any reason whatsoever, decide to direct their wealth and clout into something else, BCH will sink in a Bitconnect-like fashion.
Bitcoin Cash is being pushed primarily by miners (Jihan Wu and his clan) that are able to use the ASIC exploit to their advantage. Bitmain in particular would prefer to see larger blocks that keep the ASIC exploit in order to be more profitable. The preserving of this exploit that the Chinese miners have invested so much money into is a key feature of Bitcoin Cash as it keeps their advantage alive.
Probability of this happening is quite high and this makes investing in BCH highly risky undertaking.
Is BCH dead?
Another question pertinent to Bitcoin Cash price prediction is: is the project dead already? The answer is no, or not yet.
No, judging by the team activity on social media, github, their own website. Their communities on Reddit and Telegram are also active, although much lower engagement levels are noticeable when compared to 2017. Coin is also still listed on all major exchanges which indicates that BCH is far from a dead project.
All we wrote in this Bitcoin Cash price prediction, summed up means one thing: BCH might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect BCH will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for Bitcoin Cash – BCH Price 2019
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the BCH price, which will give us another point of view to consider:
Walletinvestor is a popular website that does technical analysis based price predictions of various cryptocurrencies. According to them, BCH is expected to drop heavily to $75 per token in one year.
Trading beasts also have their own algo that does technical analysis and postulates that BCH can rocket to around $396 within a year which means it can roughly reach about $2,760 by 2020.
Cryptoground predicts that BCH might rise to $560 by the end of 2019. They even added their version of BCH price prediction 2024, where they stated that BCH might reach $3,310 by 2024.
Digitalcoinprice gave a slightly positive prediction saying that by 2019 end, BCH might be two times more worth than now – $566 per coin.
BCH Future: 2020, 2023, 2025
BCH Price Prediction 2020
BCH (BCH) has been one of the most contentious blockchains ever since its inception. However, the team kept working on their network and the project still seems to have some kind of a future, although the whole story and team behind it are fickle. In 2020, once the market wipes out the worthless projects, BCH might be still alive but the price could be far lower than now.
BCH Price Prediction 2023
If BCH survives to see 2023, that would mean the project stood the test of time and user adoption is growing, which would all lead to the token being worth at least 10-100x than its hitherto all time high. That would mean BCH would cost $43k+ per coin.
BCH Price Prediction 2025
Similarly to 2023, if BCH survives to see 2025, that would mean the project stood the test of time and user adoption is growing, which would all lead to the token being worth at least 100x+ than its hitherto all time high. That would mean BCH would cost at least $430k+ per coin.
Realistic BCH Price Prediction
Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic BCH price for the foreseeable future is somewhere between its current price and its all time high.
Will Bitcoin Cash rise again?
BCH is tied at the hip of bitcoin and by extension of the whole market. If bitcoin surges again, it will pull BCH and other altcoins along with it which would mean – yes, BCH will rise again.
Why Bitcoin Cash is falling?
Because the whole market is in a slump. Additionally, BCH has had some issues with miner centralization and lack of actual use cases which lead to its reputational decline and hence, diminished speculative value.Why Bitcoin Cash is better than Bitcoin?
Those who claim this usually emphasize its lower fees and faster transaction times as major advantages over the crypto king – Bitcoin. However, these two alleged improvements come with a huge drawback in the sense of diminished network decentralization and technical instability (due to the untested code releases and hectic approach that prioritizes speed over security).
Bitcoin Cash Forecast and Analysis February 24 — 28, 2020
Bitcoin Cash ends the trading week at 378.20 and continues to move as part of the correction after strong growth. Moving averages indicate a bullish trend. Prices go to test the area between the signal lines, which indicates pressure from the sellers of the coin, but the growth potential is still there. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to reduce the value of the digital asset and test the support area near the level of 335.05. Where again, a rebound is expected and an attempt to grow Bitcoin Cash with a potential target above the level of 585.05.
Bitcoin Cash Forecast and Analysis February 24 — 28, 2020
An additional signal in favor of the growth of BCH/USD quotes in the current trading week February 24 — 28, 2020 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for the Bitcoin Cash cryptocurrency will be a fall and a breakdown of the area of 245.05. This will indicate a breakdown of the support area and a continued decline in BCH/USD quotes. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 515.05.
Bitcoin Cash Forecast and Analysis February 24 — 28, 2020 implies an attempt to test the support area near the level of 335.05. Then continued growth to the area above the level of 585.05. An additional signal in favor of raising Bitcoin Cash will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 245.05. This will indicate a continued decline in cryptocurrency with a target below the level of 195.05.