Bitcoin Cash token (BCH) has proven itself as a good investment in just 2 years’ time. Exactly 2 years back (mid-October 2018), the price of the BCH token was hovering around US$221. At press time on October 18, 2021, each BCH price is at US$605.14, a 3-fold increase in price in the last 2-years. If you invested US$10,000 in October 2018, its value would have increased to US$30,000 now.
The market capitalization of Bitcoin Cash is hovering around US$11.44 billion, making it the 19th largest cryptocurrency in the crypto market. But what are its future prospects? Will it grow further? If yes, then how much? What is the Bitcoin Cash price prediction for the coming 5 years? Let me walk you through
Bitcoin Cash is one of the most successful hard forks of the largest cryptocurrency in terms of market capitalization, Bitcoin. The hard fork of bitcoin took place in 2017 after a set of influential developers, BTC miners or nodes of bitcoin mining, users, and investors opposed the SegWit2x consensus. Bitcoin Cash blockchain came into existence in August 2017 and is currently working as a peer-to-peer (P2P) decentralized payment system. The native coin of Bitcoin Cash is BCH, which is a coin for everyday transactions.
The developers of Bitcoin Cash decided to increase the size of each block for enabling:
Ultimately, they increased the size of the blockchain from 1 MB to 8 MB. Just after its creation, users learned about the use cases of this new blockchain and quickly became popular. Within a month, around 1,500 blocks were created. Major mining pools like ViaBTC and Antpool recognized Bitcoin Cash tokens. They started mining BCH coins by routing high hashrate volumes.
The members of the cryptocurrency community (which includes the miners of both Bitcoin and Ethereum) took time to accept this new coin. However, with time, BCH has come up as one of the leading most coins in the crypto market and a great digital asset for investment.
You can trade BCH on leading cryptocurrency exchanges such as:
Now, let’s check the BCH price history. The price of each Bitcoin Cash coin was US$200. Despite this comparatively low price, it didn’t take much time for this altcoin to become one of the leading coins in terms of market cap. Just the next day, its price doubled and remained stable for 3-weeks before reaching a new high at US$1,000. However, the US$1k level couldn’t sustain for long and quickly corrected to US$700.
In the coming 2-months, the BCH price declined smoothly and the price per coin reached US$317 by mid-October 2017. After reaching this support level, the price started its magnificent run and reached the US$1,600 level in almost no time. The ascent continued and the price per BCH token reached US$4,091 in mid-December 2017.
One of the darkest phases of the cryptocurrency market started on December 22, 2017. It quickly fell to the US$1,000 level and in May 2018 again jumped to US$1,500 level.
In mid-December 2018, the BCH price reached a low at US$80. A small growth was seen in the price that pushed it to the US$534 level. But the price dropped again. It was in May 2021, the price of the Bitcoin Cash token witnessed a significant rise to more than US$1,600. However, the bulls couldn’t maintain this level and it quickly corrected to the current level in the US$500-600 region.
All these facts and figures (as of Oct 19, 2021) will help you to make a decision on investing in BCH:
There is a good deal of buyers in the Bitcoin Cash market and experts believe that the price will increase significantly in the near future. BCH price has found strong support around US$400 level. A fall below this level was rejected twice. The first was in June 2021 at US$387.33 and the second one was in July 2021 at US$384.26. It is from this price level that the price jumped by more than 100% and increased to US$800 on September 6, 2021.
The BCH price is currently trading in the US$600-800 range. If the support holds and more buyers emerge, the price is expected to hit US$800 again in the short term. A price rally may take place within the above US$800 level and to the premium levels within the yearly high at US$1600 level. With the global acceptance level expected to reach an all-time high level in 2022, the BCH price is expected to reach stellar heights.
The price of Bitcoin Cash is expected to rise above the US$900 level by 2022 and stabilize above the US$1,500 level in the coming 5 years. However, some experts also expect the price to reach as high as the US10,000 level by 2026.
If you are ready to invest in stocks and cryptos or buy Bitcoins through online brokerage accounts of centralized or decentralized cryptocurrency exchanges, you can do so in a legit way by investing through stock investing and cryptocurrency apps. You have to open an account with such an exchange or online broker (including trading apps and invest apps such as TD Ameritrade). Then verify your details (including basic personal information) and fund your stock or cryptocurrency trading account.
The best thing about the Bitcoin and crypto market is that the transactions are done without the involvement of banking entities. This is one of the reasons why more and more investors (including corporates, venture capitals, and institutional investors) are heavily investing in cryptos.
You can start depositing funds to your stock or crypto exchange account to buy company shares or cryptocurrencies. This can be done by simply connecting your online banking account (savings accounts, checking accounts, or other account types). Besides transferring fiat currency money online through bank transfer, you can make payments with other payment methods including credit cards, debit cards, and others.
If you need further assistance, you may consider taking help from the vibrant and helpful trading communities. You can trade cryptos with credit cards (business credit cards, personal ones, or citi custom cash cards), debit cards, or other payment options through reliable crypto trading web platforms. Cryptos can be bought from crypto exchanges in exchange for US Dollar, Singapore Dollar, Euro, Taiwan Dollar, Russian Ruble, USD coin, and many other fiat currencies and cryptocurrencies.
At the time of buying bitcoin or other cryptocurrencies, you can check out price statistics of the spot market Bitcoin price and Bitcoin futures, Bitcoin Cash price chart, Ethereum price, other coin prices, live charts, bitcoin blockchain’s current performance, block size limit, and many many other factors. Always keep in mind that you have to pay a trading fee. So, include that cost while strategizing your exit plan.
You can also check the savings calculator to know how much you should save on a weekly, monthly, or yearly basis. Check the financial news to know more about the prospects of various assets so that you can build long term wealth.
In case you are bullish on the future prospects of gold, stock and ETF trading, crypto market, Bitcoin BTC, Ethereum ETH, Bitcoin Cash BCH, Litecoin LTC, Ethereum Classic ETC, Bitcoin SV, Wrap Bitcoin, and other altcoins, you can start investing in stocks, gold, Bitcoin, and other altcoins with USD. Once bought, transfer them to:
Hold them for a longer time period to let the Bitcoin BTC price increase. Keep your cryptocurrencies safe with:
Crypto market investing will provide you with a higher return in the long run. The ROI from crypto investment is much more than investing in:
In fact, many retirement funds or IRA accounts such as Roth IRAs are allowing digital currency investors to purchase XRP, Bitcoin, Chainlink, and other digital assets. These retirement funds are increasing investor choice by allowing them to invest a small percentage of their money in cryptocurrencies. This is, in turn, increasing the prospects of these funds to provide their investors to get higher returns. If you are thinking about building wealth, you should include cryptos in your portfolio like other crypto investors.
Therefore, it can be concluded that holding Bitcoin Ethereum and other cryptos can help you to build real wealth and multiply your net worth. You can learn investing basics to buy crypto currency and other digital assets to make more gains. Start going through Wall Street Journal and other investing magazines on cryptos to learn more about investing in crypto market and make better financial decisions. Learn about valuation calculation to true bitcoin value and assess the overpriced or underpriced situations instantly.
As a beginners guide, you may also check out the trading basics provided by various cryptocurrency exchanges such as Coinbase, Binance, Kraken, and other crypto APIs. There are many brokers suitable for beginners as well. So, read reviews of customers before joining a crypto exchange. There are many brokers for beginners in the USA through which you can trade and invest extra cash and investible fund in fractional shares and stocks funds.
You should definitely learn about:
Defi tokens and NFTs (Non Fungible Tokens) are the next generations of crypto coins. These decentralized coins have started to become very popular among active traders who trade cryptocurrency. You can buy sell them through crypto trading platforms too.
Whether you buy Ethereum ETH or buy Dogecoin, you should also invest in:
To diversify your portfolio, you may also buy stocks through stock brokers for beginners and pro.
Get better guidance on improving your personal finance, retirement planning, management of cash flows or capital gains, and investment ideas from financial advisors, investment managers, and wealth managers, especially the ones who are not averse to cryptocurrencies such as Bitcoin and others.
While day trading, you should always try to invest only that much money which you can afford to lose. When you do margin trading, be very careful. Financial protection must be there in your mind always while you make cryptocurrency trades. That’s why having a secure financial plan is so important.
Invest money in stocks, gold, and other cryptocurrencies through centralized or decentralized exchanges and reliable online brokers.
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