A few months back, BCH Hard fork took place and since Bitcoin Cash ABC won the hash run, BCH ABC and BCH are merged together and are a single entity. Very recently, blockchain.com introduced a new tool for crypto enthusiasts to get a better understanding of the intricacies of their cryptocurrency. They launched a Bitcoin Cash explorer that helps people search for transaction hashes, addresses and blocks on the BCH blockchain.
The next hardfork is going to take place in May 2019, which is giving major expectations to the BCH community. BCH ABC is introducing Schnorr signatures, which would be advancing the scaling properties, by reducing bandwidth and storage space by more than 25%. It even offers multiple advantages if the protocol is coupled with transaction tumblers.
The goal of BCH ABC is that it can be accessible by anyone and everyone in the world. With the recent addition of Bitcoin ABC, 0.18.0 was the latest developments which include instant and reliable payment experience, without needing to change the consensus rules. There are some technical improvements needed for BCH like mempool admittance code, mining RPC, which might get implemented in 2019, which will enable the on-chain scaling.
Bitcoin Cash price for today February 06, 2019, is 113.54USD. Its current circulating supply is 17,606,850 BCH with a market cap of 1,999,098,293 USD. As per Bitcoin Cash price prediction today, BCH might go bullish very soon.
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.
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 future. Let's check those out:
Trading Beasts predict that 2019 might prove to be lucky for BCH and its price can move upwards to around $2703.17 by 2019 end. They predicted that for 2020, BCH price can increase as much as $5,635.44 and be as low as $3832.10.
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 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.
Us Lifted is one of the cryptocurrency prediction websites, which stays updated and it predicts that the value of BCH might reach as high as $9,735 by the end of 2019. This is a very optimistic bullish prediction if you consider the current price.
Crypto Ground predicts that Bitcoin Cash can plunge upwards and might reach $707 by the end of 2019. In 5 years, BCH might reach $3,067 in five years time frame.
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.
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 2019, BCH might reach 2000 USD, which is more than 200X of the current price.
BCH might go out for global adoption by mainstream users, and provide a solid foundation that businesses can rely on. This will embark on a new journey for BCH, where it might go for partnerships with global institutions. Not only that it is going to come up with extravagant features like timestamping, representative tokens and more complex transaction scripting. 2019 will see sunshine all throughout, mostly. Just in the second quarter, BCH might see a marginal increase, after which it will leap across and reach as high as $2K USD level.
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 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 $4039.6 USD.
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 2023, considering the roadmaps it has created. You can convert BCH to BTC from CoinSwitch at the best rates.
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2019-03-01 11:11:17.436940 | 2 min