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Bitcoin Cash (BCH) price: history, prediction and advice

Taking the crypto currency course is a wealth of information. Bitcoin has been a very popular cryptocurrency since its inception. This is why he is at the origin of several technological divisions, or hard fork, where the community allows the project to evolve and explore alternative solutions. Bitcoin Cash (BCH) is one of its derivatives of Bitcoin (BTC). Through this most comprehensive review possible, we will focus our attention on the Bitcoin Cash price, the history of its creation and the forecasts of experts in decentralised finance.

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In order to fully understand the potential of Bitcoin Cash (BCH) and give a substantiated and argued opinion, we will focus on the beginning of the active crypto adventure and follow the evolution of the price of a token since its official launch in 2017. until today in 2021.

 

Bitcoin Cash (BCH) price in euros in 2017

 

We cannot deny that Bitcoin Cash has taken advantage of the aura of its elder brother Bitcoin (BTC). Indeed, cryptocurrency was born following a hard fork on the original blockchain. At a very auspicious time because, in July 2017, first-generation digital currencies were starting to explode. Despite the boycott of the major crypto platforms of BCH tokens, the introductory Bitcoin Cash price is set at 900 dollars (741 euros). Very quickly, it took off and reached a first peak at 4091 USD (3368 euros).

 

Bitcoin Cash (BCH) price in 2018

 

Despite this exemplary start, the valuation did not continue. Bitcoin experienced a first split via a double hard fork, which gave birth to Bitcoin Cash ABC and Bitcoin SV (for Satoshi Vision). These divisions show unease between the promoters of the BCH project. The Bitcoin Cash price drops to fall below its IPO price.

 

Bitcoin Cash (BCH) price in 2019

 

The year 2019 is a great period of development for the blockchain. The structure of the network is improving. The means of payment are gradually accepted by physical businesses. Despite some doubts about the future value of Bitcoin Cash, the 2 successive updates allow the coins to continue to regain value.

 

Bitcoin Cash (BCH) price in euros in 2020

 

Like other cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH), the 12 months of 2020 have been a huge heck of a cryptocurrency. For several weeks, the price goes up to 500 dollars (411 euro) to fall better to 130 USD (107 euro). Volatility remains very active until December 2020 when the price of Bitcoin Cash stabilises around 250 dollars (205 euros).

 

Bitcoin Cash (BCH) price in 2021

 

BCH coins did not have a very different fate than Bitcoin (BTC). The uptrend has been confirmed and deeply consolidated. Maybe even more than all the forecasts made by crypto analysts. The price of Bitcoin Cash in euros returns to an interesting level in June 2021: 513 euros per unit.

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Bitcoin Cash (BCH) Price and Value Prediction

 

Making a forecast on the evolution of the price of a cryptocurrency is one of the fairly relevant elements to study before forming an opinion on an investment in Bitcoin Cash coins. We start with a short-term approach before moving on to more distant deadlines.

 

Short-term Bitcoin Cash (BCH) price prediction

 

A large majority of media specialising in technical analysis and forecasting tend to display very optimistic views for the months to come.

Whether it is Trading Beats, Roger Ver (Bitcoin Jesus) or Smartereum, the Bitcoin Cash prediction tends towards a significant increase in the unit value of the token. Certainly, with genuine volatility, there are projections of at least 3,154 euros up to a maximum of 5,517 euros at the end of 2021. 

Crypto Ground experts are less enthusiastic. A period of improvement could push the price upwards to come down better in the latter part of the year, with a token priced at 582 euros.

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Long-term Bitcoin Cash (BCH) price prediction

 

By 2025, the debate rages on. 

In general, a consensus is established. An upward forecast is being considered by all observer bodies. Opinions differ on the strength of this trend.

The most optimistic, at Smartereum, envision rapid and sustainable growth, modeled on that of Bitcoin (BTC), to reach a Bitcoin Cash price of around 20,250 euros.

Regarding CoinSwitch and Crypto Ground, we oscillate between an average price of €2525 and €4851 if all the stages of the development roadmap are respected.

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Definition: what is Bitcoin Cash (BCH) crypto?

 

Now that we have a more precise vision of the financial potential of the crypto Bitcoin Cash, we will make a comprehensive presentation to support our opinion and understand the interests of this project.

 

Creation history

 

One of the elements to be noted as a priority is that the creation of the Bitcoin Cash token occurs after a hard fork on the Bitcoin blockchain (BTC). The goal of the people behind this split is to respond to the post and comment who regret that the classic Bitcoin blockchain cannot process more transactions simultaneously. 

In July 2017, it was therefore decided to rely on the foundations of BTC to create a blockchain and a network that would be able to mine larger blocks, which makes it possible to process more transactions. In view of the great popularity of Bitcoin among its users, Bitcoin Cash coins have not struggled to find their audience. The great dynamism of the community has made it possible to drastically reduce the processing time of transactions as well as the costs inherent in these operations.

Beyond certain philosophical dissensions, Bitcoin Cash is mainly the result of a technological need to a problematic situation vis-à-vis the user experience. This is one of the elements that explains why the evolution of the BCH token is so closely associated with that of BTC coins.

 

What is it for?

 

Currently, there are nearly 19 million Bitcoin Cash tokens in circulation. Like BTC, their number is limited, which creates a very beneficial scarcity effect for its price quotation according to supply and demand. 

Another trait borrowed from its predecessor: Bitcoin Cash is one of the crypto currencies that can be used like cash. In other words, it is not doomed to be only stored in a Bitcoin Cash wallet while waiting to resell it at a higher price to pocket a capital gain. More and more points of sale accept payment in cryptocurrency, including BCH, which easily replaces the euro or the dollar. One of the big advantages is that the transaction costs, during transfers between individuals (or professionals), are reduced and that the processing time is ridiculously low.

Here are some of the possible applications that justify the existence of Bitcoin Cash on the market:

  • A fast, secure and inexpensive means of payment between users without going through a bank or associated service;

  • Unlike Bitcoin, Bitcoin Cash aims to best support new block miners because crypto was created by miners in a spirit of mutual aid and free;

  • The size of the blocks has been greatly increased, which significantly accelerates the speed of transaction processing. Bitcoin Cash can display blocks between 8MB and 32MB. With the arrival of this virtual currency, the small size of the BTC block could block a transaction awaiting validation from a user. To get a more precise idea, a Bitcoin block can handle a maximum of 1500 transactions. Larger BCH blocks can show a processing of 25,000 transactions.

 

Bitcoin Cash (BCH) blockchain: how does it work?

 

As we specify, the primary mission of Bitcoin Cash is to serve as a means of payment between users. Like Bitcoin (BTC), BCH is transferable peer-to-peer, without the intervention of an intermediary (bank type). The big advantage of Bitcoin Cash is its faster processing times, which saves users time and money. 

During an exchange, to pay for a service or a good for example, a person makes his request. Another accepts it. The transaction is integrated into the network until it is processed. As a reward, the miners involved receive a reward in tokens. The blockchain is to be considered as a public register where each transaction is subject to an encrypted backup, which guarantees traceability, transparency and compliance with the conditions of peer-to-peer exchange. In the event of an error or fraudulent manipulation, users can report and then block said transaction in a dedicated post. Other minors can leave a comment on this same post.

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How to get BCH crypto?

 

Now let's focus on the various ways to acquire Bitcoin Cash cryptocurrency:

  • Opening an account with a broker;

  • Computer mining;

  • Using a Bitcoin Cash Faucet System.

 

Get this crypto through brokers

 

Opening an account with a broker that offers a crypto trading service is, in our opinion, the most efficient and accessible way to obtain BCH coins. Like an over-the-counter (OTC) broker, a trader uses the platform to buy or sell cryptocurrencies with other investors who are looking for the opposite demand in the market.

2 schools are available: the forex CFD broker and the specialised platform. Each option has its advantages and disadvantages.

 

Broker forex CFD option

 

In our opinion, this is the first step to take to get a good start in cryptocurrency. As the name suggests, a CFD broker offers to trade derivatives in the form of Contract For Difference. To put it simply, it is then possible to speculate upwards as well as downwards on the evolution of the price of an asset.

The most comprehensive, like eToro, offer an extensive catalog: forex (traditional currency pairs), stocks, stock indices (via ETFs), commodities and cryptos. This approach is very appreciated by beginners since there is, very often, a free and integrated educational support program, transaction costs reduced to a minimum, the presence of leverage to increase its investment volume without touch its capital and an ultra intuitive interface.

Users of CFD brokers (stocks, forex, etc.) aim for short-term gains, with a high risk of losses since the strategy is based on technical analysis and accurate forecasting of the next variation. They do not have to manage the question of storage (safeguarding digital currencies), nor the general direction of the price of the product.

Here are some examples of brokers where it is possible to trade online: eToro and its social trading functions, XTB, Libertex or even Capital.com and its large catalog of cryptographic assets.

 

The specialised platform option

 

The other way to acquire Bitcoin Cash tokens is to open a trading account on an exchange platform specialising in digital assets. The choice is multiple. Some are more popular than others. For example, Binance, Coinbase and Kraken dominate the mainstream market.

Going through one of the specialised platforms offers a unique, secure and competitively priced opportunity to make a purchase at the real and official price of the cryptocurrency of your choice.

Depending on the broker chosen, the range of products available is more or less important. Exchanges between digital currencies are very simple and work on a principle quite similar to that of forex. The price of one currency against another.

The other huge advantage of having an account on a specialised platform is that it is possible to obtain Bitcoin Cash tokens in 3 different ways:

  • Direct purchase with a credit card or Paypal account. The transaction corresponds to an exchange of fiat currencies (euro / dollar / etc.) against BCH;

  • The purchase via its real money balance available after a minimum deposit, variable according to the chosen broker;

  • The exchange via the Exchange of digital products from one cryptocurrency for another. Ex: BTC / BCH.
     

Many elements tend to indicate that this method is to be favoured when one wishes to enter this market. The integrated portfolio (in most cases) allows you to store your acquisitions in peace while waiting for a price increase to collect the capital gain. A positive variation over a week, a month, a year or even a decade can be the source of substantial profits for the most patient.

 

Mining crypto

 

A worthy representative of Bitcoin, it is quite possible to collect BCH coins by mining the blocks on the blockchain.

To succeed in mining effectively, it is necessary to have a computer machine powerful enough to perform the calculations necessary to solve the equations submitted by the algorithm. The use of one or more mining software is essential. For example, Bitcoin Cash Explorer is one of the most popular because it is directly integrated into the large machinery of the network and the blockchain.

Mining consists of the confirmation of transactions issued on the blockchain, which generates the creation of new blocks. It is the solving of equations that offers the skill to create new blocks which are then integrated into the chain. When a block is validated by the network, the miners (or the mining pool) get a coin reward.

On the Bitcoin Cash network, few miners go it alone. It is the pooling of their own resources - via a mining pool - that facilitates work, reduces costs and accelerates the process.

The mining of Bitcoin Cash is a matter for specialists, because it is necessary to invest large sums of money in order to be able to buy a computer powerful enough to withstand the frantic race to collect enough to make a living.

 

Bitcoin Cash Faucet

 

Last legal solution to obtain BCH tokens: the use of a Bitcoin Cash Faucet. 

But what is a Faucet? In literal translation, a Faucet is a faucet that dispenses on a regular basis (every 60 minutes) a defined (and variable) amount of Bitcoin Cash token.

Very accessible and free, a Bitcoin Cash faucet requires a simple account opening and regular visits (during distributions) on the site to collect its coins. The quantities obtained are stored in a wallet integrated into the offer and easily transferable to a private wallet for more security. From 1 token.

There are different ways to increase collections:

  • Sponsorship by inviting friends;

  • Viewing paid advertisements;

  • Achieving goals that generate additional rewards.
     

For those new to and curious about the crypto market, signing up on a faucet is a safe, free, and intuitive way to get started in cryptocurrency. One example is Moon Bitcoin Cash.

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Bitcoin Cash wallet: how to find?

An essential step prior to trading a cryptocurrency, opening a digital wallet in order to be able to:

  • Store and secure recently acquired virtual currencies;

  • Collect the cryptos to be able to sell them on the market;

  • Carry out wallet-to-wallet exchanges between users.
     

There are 3 main types of digital wallets suitable for Bitcoin Cash:

  • Hot Wallet: online version, accessible from its Internet browser, free, it is the ideal solution for fans of flexible and inexpensive storage solution. Their biggest weakness is their weakness in the face of hacking attacks because of their direct access to backups over the Internet. Ex: Coinbase wallet / Portefeuille Binance;

  • Desktop Wallet: version on software support which requires the purchase of software - wallet which must be installed on the computer where the operations inherent in the trading of digital currencies are carried out. There is a gain in anonymity compared to the Hot Wallet. On the other hand, the issue of weak security is still relevant since the wallet has Internet access to back up each change in balance. Ex: Atomic Wallet / Coinomi;

  • Cold Wallet: physical and independent version of the storage wallet. The best solution from any point of view: security, ease of use and anonymity. The big downside has this solution to make protected backups of its digital possessions: the purchase price. Ex: Ledger Nano X / Trezor T.

Notice: should you invest in Bitcoin Cash crypto?

Let's establish a relevant list of the advantages and disadvantages of investing in Bitcoin Cash.

Opportunity
 

  • Bitcoin Cash is a young currency, which still leaves it with a large margin for improvement. The ever more frequent implementation of decentralised finance solutions between individuals, professionals or even states can decently promise a profitable future for the BCH token;

  • Cryptocurrency was created, certainly to provide fixes to classic Bitcoin, but also in the hope that its global expansion would allow it to increase in value. Price analyses show that the bet seems rather profitable. With patience, in the long run, great promises could be kept;

  • Its direct affiliation with the BTC gives it a very special status. It is in the top 5 of the most highly rated cryptos. The development of his eldest directly benefits him. With 19 million coins in circulation, 9 billion in market capitalisation and a 1-year increase of + 158%, it is reasonable to expect exponential growth in the weeks, months and years to come.

ADVANTAGES

DISADVANTAGES

Risks
 

The biggest risk with an investment in Bitcoin Cash is its high volatility. This is a recurring problem for all virtual currencies. A strong variation was observed over very short periods of time.

Like a portfolio in equities, diversification is one of the keys to spreading exposure to financial losses as well as possible. The BCH token should display as one asset among others, chosen with care.

FINAL CONCLUSION

We can only share the opinion of many experts who consider that the Bitcoin Cash project carries with it enormous potential. The significant fixes made to the Bitcoin blockchain / network are giving it renewed interest. Its structure and the goals attributed to it are all reasons to consider that its course should continue to move upwards.

We must, despite everything, show reason because Bitcoin Cash is not alone on the market. The competition is fierce, which leaves some room for doubts and the risk that the token will disappear for lack of users.