Bitcoin Cash is gaining its value not only due to its parent Bitcoin cryptocurrency. Investors start realizing that it’s one of the most convenient ways to pay with crypto and withdraw the virtual assets. Is this altcoin promising enough to invest in it? Let’s read Bitcoin Cash prediction to find this out.
Is Bitcoin Cash much different from Bitcoin?
Although Bitcoin continues its reigning on the cryptocurrency market, it’s far not the best coin from the technological standpoint. The number of transactions it can process is only seven per second– this is too slow. For reference: Visa processes transactions at the rate of 1,700 per second having the capability to process over 24,000 transactions per second.
Due to an increasing popularity of Bitcoin, people started mining it hardly and the mining pools gave about 80-90 percent of their power for BTC mining. That required a lot of energy and room for storing data.
Advantages of Bitcoin Cash
In July 2017, the Bitcoin community voted for the introduction of SegWit2x technology– it minifies the volume of blocks to be mined by removing signature data. However, the size of the blocks still continues increasing, and now the blocks can weigh even one GB and more. Of course, that slows down the mining process and makes it less efficient.
Understanding that, miners and developers have introduced a hard fork of Bitcoin– Bitcoin Cash.
It has optimal block sizes (eight MB against one MB in BTC which boosts safety) and ensures a great speed of the verification process.
How has Bitcoin been improved?
In other words, Bitcoin Cash is a better version of Bitcoin. So what’s changed?
A standard block is one MB maximum.
Uses power blocks of eight MB maximum.
Uses SegWit– the signatures can be discarded from the Blockchain.
SecureSigns– signatures must be secured and validated on the Blockchain.
It has been developed by one centralized team. Bitcoin Core is the only implementation.
Has been developed by several teams and features several client implementations (Bitcoin XT, Bitcoin Classic, Bitcoin Unlimited, etc).
Off-chain payment channels.
On-chain transactions and increasing for block size.
About Bitcoin Cash price prediction 2017
Just like its parent coin, Bitcoin Cash 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! In the middle of the month, it already cost $900.
How Bitcoin Cash price changed in 2017
Of course, its development has been accompanied by hot debates over what’s better– the original of the ‘affiliate’ coin. The value of Bitcoin cash started falling when people realized that the fork is not a versatile answer to the problem of BTC scaling. Although it gained the maximum of $2,442, Bitcoin Cash price prediction for further months wasn’t justified– like all other coins, it started falling at the beginning of 2018.
Bitcoin Cash prediction 2018
Different sources provide us with different Bitcoin Cash 2018 prediction:
According to technical analysis (cost estimated is done by software based on the price trends and trade volume), within a year, the coin can raise to $2,363.42 doubling in its value. So if you invest $100 in Bitcoin Cash, you can earn $211 within a year. That’s what Walletinvestor.com claims.
Alternatively, tradingbeasts.com says that Bitcoin cash can grow to $1,930–$2,838 in December 2018. That’s almost the same Bitcoin cash price prediction 2018.
Roger Ver, one of Bitcoin millionaires, says that the currency will continue its growth, and Bitcoin Cash will double its price in the coming months due to simplicity and convenience of use.
A less reliable but popular smartereum.com predicts 500 percent growth of BCH cash– the cost can grow to $6,700 within less than a year!
Similarly, profitconfidential.com claims that Bitcoin Cash will reach the price of $7,000 by the end of 2018.
As we see, most Bitcoin Cash 2018 price predictions are optimistic, and traders see it as a better Bitcoin alternative that brings about a lot of benefits, including fast transactions and low fees.
Bitcoin Cash prediction 2020
When looking for 2020 Bitcoin Cash price prediction today, we can see that most sources provide almost the same information:
Tradingbeasts.com predicts that Bitcoin cash will cost from $4,037 to $5,937 by the end of 2020.
Brian Kelly, a cryptocurrency expert, didn’t mention any certain numbers but said that this is one of the most promising coins that every smart trader should buy.
priceprediction.co claims that by the end of 2020, Bitcoin Cash price will grow to $9,562.28.
Bitcoin Cash long term prediction
When it comes to Bitcoin Cash five-year prediction, there are not so many opinions regarding it. According to Walletinvestor.com, the price of Bitcoin Cash will rise to $7520.50, which means the growth of 572 percent- that seems to make sense.
If we look in smartereum.com Bitcoin Cash price chart prediction, we’ll see that Bitcoin Cash can raise to $24,600 within five years. That seems to be too optimistic. With such a high volatility, it’s hard to make any predictions– price movements are sudden.
What can affect the coin value?
There’s a myriad of factors influencing the Bitcoin Cash prediction: Reddit users have shared their opinions and claimed that the development of Bitcoin cash can be affected by the following things.
The dominance of Bitcoin.
Other advanced altcoins.
Poor adoption of technology.
Centralization of mining.
Should I invest in Bitcoin Cash?
Bitcoin Cash prediction today is not just optimistic– it seems to be close to reality. Besides, considering the current Bitcoin Cash prediction flip, the forecasts are expected to be justified pretty soon. Therefore, if you’re still in the dark about Bitcoin Cash and want to make your first investment, it’s high time to do it now– you can surely double the sum within a year.