One thing that makes digital currencies exciting is their competitive nature. Coins have their own unique way of natural selection where they equally challenge each other in the markets. Currently, a competitive environment is emerging between two Bitcoins - BCH and BTC.rnBitcoin Cash (or BCH) is a digital currency based on blockchain that makes it possible for people to transact directly without involving a third party or a middleman. Since its creation, Bitcoin Cash has had its price seeing impressive predictions numerous times. For instance, when the
BCH to USD value skyrocketed, speculators from all corners of the world could not stop talking about the future of the digital currency in terms of further growth in market capitalization.
BCH and Opportunities for Investors
TechnologyrnBitcoin Cash uses the same technology as Bitcoin, however, the team behind BCH introduced sizeable enhancements to the protocol. The younger Bitcoin's brother features larger blocks (32MB to be exact), higher network speeds, and cheaper transaction fees.
Value of MiningrnFor digital currencies to flourish, they need an enormous net of active miners who constantly generate new digital currencies and authenticate various transactions. It is worth mentioning that currently, the mining of BCH is more profitable than that of BTC. For this reason, most miners have shifted their attention to BCH, and this has led to a stronger network of BCH miners.
Mainstream AcceptancernCompared to other digital currencies, BCH has made significant progress when it comes to online payments acceptability. Most recently, BitPay, a renowned provider of payment services that only supported BTC,
began supporting BCH as well. This has given the digital currency a significant boost.rnLooking back at the price growth of BCH over the last few months, it is safe to say that the cryptocurrency is still a comparatively budding digital asset. Here is a detailed focus on the BCH price trends.
BCH and the Market CrashrnTo have a better grasp of the price trends of BCH, it is imperative to take note of the cryptocurrency’s performance during the market crash in early 2018. Nearly all cryptocurrencies suffered significant price reductions in January 2018, but things took a positive direction a few months later.rnAt the moment (June 22), BCH is among the top five digital currencies in terms of market capitalization. This trend will continue for the longest time possible unless traders withdraw their support for BTC and unilaterally back BCH. During the crash, most cryptocurrency experts viewed BCH as the perfect engineer for this turn of events, but the crash affected all digital currencies equally.rnThe crash saw the BCH price decrease rapidly from 4,300 to 770 US dollars. Nevertheless, unlike most other digital currencies, BCH has quickly bounced back from the crash and has resumed its competitive nature. Since early February 2018, when its price was the lowest, the value of the digital currency has improved by approximately 10% and is now sitting at around 820 USD.
BCH and the Expert OpinionrnSpecial tools are used to technically analyze digital currencies. The predictions are usually based on the historical prices and the trading volume of a particular crypto coin. In most cases, technical analysis tools don’t take into consideration other crucial aspects such as overall market fluctuations or community sentiment. A handful of crypto websites have technically analyzed BCH to predict its future and provide insightful price trends to investors. There are WalletInvestor, Longforecast, Cryptoclarified, all predicting the price of Bitcoin Cash to go up throughout 2018-19.rnIn addition to technical analysis tools, it is wise for investors to find out what various digital currency experts think about trends in the BCH price if they want to figure out what the future holds for the cryptocurrency. Although experts might not provide precise price predictions, investors can make informed decisions depending on their positivity or negativity towards BCH.rnMost cryptocurrency professionals and analysts are positive about the value of BCH and think it will keep on going up. A while back Roger Ver, a cryptocurrency analyst, predicted that in a year the value of BTC would surge up to 20X its present value, and the value of BCH will increase almost twice the current price. According to Roger Ver, the popularity of BCH has increased in the recent months because of its cash-like tendencies.
Factors affecting the BCH Price
Most of the time, the price of BCH is affected by supply and demand. Nonetheless, there are
various other factors that may have a negative or positive impact on its value. For instance, factors such as revenue expectations may affect the price of BCH greatly.rnAdditionally, the market performance of other cryptocurrencies, especially BTC, directly influences the value of its spinoff - BCH. Other factors that are worth mentioning include:
Government PolicyrnAlthough governments don’t control BCH and other cryptocurrencies, their policies have direct and indirect impacts on the price of digital currencies. For instance, once the Chinese government put in place a set of restrictive policies towards cryptocurrency, the prices of many coins including BCH plunged significantly.
RivalryrnCompetition plays a crucial role in determining the price of digital currencies. At the moment, BCH is ranked fourth in terms of market capitalization, but it faces tight competition from other less popular digital currencies that aim at solving the same issues. Surely, this affects the BCH price.
Final Thoughts
The above BCH price predictions were covered following trends in the crypto market, speculations from experts, as well as technical analysis. Remember that these forecasts might not necessarily come true; therefore, you are advised to do your own research on the BCH price trends before making an investment decision.rnFrom the look of things, Bitcoin Cash enjoys a positive community attitude and the cryptocurrency’s future is bright. Additionally, considering factors such as new developments and technological advantages over other digital currencies, the price of BCH will most likely continue going up.