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Bitcoin Cash Price Live Performance Indicators

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Bitcoin Cash (BCH)
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Bitcoin Cash Price Summary

Bitcoin Cash (BCH) is a fork of Bitcoin and shares very much the same history as BTC.

Bitcoin Cash has lost its position amongst the top ten in the cryptocurrency market, with the likes of Cardano, Dogecoin and USDC forcing their way into the group. Regardless, Bitcoin Cash has performed excellently so far this year, with its price up by over 60% year-to-date. BCH began 2021 trading at $341 per coin, but it is now trading at $531. It dropped to the $500 region after reaching a 2021 high of $1,525 on 6th May.

Despite the recent bearish cycle, BCH didn’t drop below its crucial support level at $300, boosting the chances that it could recover from the recent slump. It is important that you keep up to date with BCH’s price if you wish to make excellent investment decisions.

Bitcoin Cash Price History

The Bitcoin Cash story began in 2017 when it was forked from the original Bitcoin. The fork was caused by a disagreement within the cryptocurrency community. BCH began trading at $767 when it came into the scene on 1st August 2017, at a time when the bull run of 2017 was entering its exciting stage. Bitcoin Cash took part in the rally, and its price surged to an all-time high of $3,785 on 20th December 2017.

However, the bear market kicked in in 2018 and caused Bitcoin Cash’s price to decline massively. Similar to the other cryptocurrencies, Bitcoin Cash lost more than 70% of its value during the bearish period.

By November 2018, BCH was trading above $500 per coin. However, the price dropped massively within a few days after another hard fork of Bitcoin Cash led to the creation of Bitcoin SV. The Bitcoin SV camp was supported by Craig Wright and Calvin Ayre, and the fork caused BCH to drop to its all-time low of $76 per coin.

Bitcoin Cash price slowly recovered through 2019 and 2020 but suffered another dip towards the end of last year when yet another fork led to the creation of the Bitcoin ABC coin. Prior to the fork, Bitcoin Cash was trading above $300 but dropped to the $200 sub-level. Bitcoin Cash has performed well so far in 2021, with its price up by over 60% year-to-date. The cryptocurrency began the year trading at $341 per coin, but it is now trading above $530. It dropped to the $500 sub-level after reaching a 2021 high of $1,525 on 6th May.

Bitcoin Cash Price Prediction

Volatility is one of the key features of the cryptocurrency market, and this warrants that you consider Bitcoin Cash’s price prediction from various possible directions. Due to the volatility, the price could move upwards or downwards in an instant, depending on the market conditions. To ensure you protect your investment from sudden massive losses, we recommend integrating risk management techniques when conducting your probability-based predictions.

The blockchain underwent an upgrade in May 2021, one of the first times it has done so without a hard fork taking place.

In recent times, Bitcoin Cash has lost its position amongst the top ten in the cryptocurrency market, and it is now the 12th largest in terms of market cap. Unless there is a massive boost in its market cap or one of the top ten coins experiences a drastic fall in value, the situation might remain this way for a while.

With no immediate upgrade on the horizon, Bitcoin Cash’s price would likely be impacted by the performance of the broader cryptocurrency market. It failed to reach a new all-time high in the recent bull cycle but has been able to defend the $300 sub-level in recent months. Now trading above $500, BCH could rally higher if the broader market recovers from its recent slump. Another factor that could affect its price would be adoption from a leading financial institution or company.

Expert Tip on the Price of BCH

Bitcoin Cash performance hasn’t been impressive in recent months, compared to the other leading cryptocurrencies. Aside from the upgrade in May, there hasn’t been much news of adoption that could drastically affect its price. To look at BCH price, you need to adopt both fundamental and technical analyses. Fundamental analysis should involve following the latest news on Bitcoin Cash and upcoming upgrades. Expert traders use indicators and trading tools like the FIB levels, the RSI (Relative Strength Index) and the MACD (Moving Average Convergence Divergence) to predict BCH price movement.
- Hassan Maishera

About Bitcoin Cash

Bitcoin Cash was created in 2017 as a result of a hard fork of the original Bitcoin. This was due to some developers being dissatisfied with Bitcoin’s overall scalability direction. After the hard fork, Bitcoin Cash retained some of Bitcoin’s history but made a few changes. Some Bitcoin Cash supporters even claim that it is the original Bitcoin.

The developers created Bitcoin Cash to pursue the original goal of Bitcoin being a transactional currency. Bitcoin Cash is the rejection of the original Bitcoin philosophy that the cryptocurrency should be a settlement layer.

Bitcoin Cash has undergone major hard forks since then, leading to the creation of Bitcoin SV in 2018 and the Bitcoin ABC in 2020. Bitcoin SV broke off from Bitcoin Cash because the proponents such as Craig Wright argued that BCH was no longer staying true to the original vision of the Bitcoin Whitepaper.

Bitcoin Cash Value Compared to Other Cryptocurrencies

Frequently Asked Questions

  1. Bitcoin Cash performed excellently within the first few months of its creation, rising by over 1,000% to trade above $3,000. However, it has struggled since then, and it is currently down by more than 80% from its all-time high. It started trading in 2018 above $300, and it is now trading above $500, which isn’t an impressive performance compared to the other leading cryptocurrencies.
  2. Yes. Bitcoin Cash is a different cryptocurrency despite sharing some features with the original Bitcoin. However, Bitcoin Cash aims to be a transactional currency, as intended by Satoshi Nakamoto.
  3. Volatility has always been a part of the crypto market, and it presents numerous opportunities for investors and traders. However, you need to conduct critical technical and fundamental analyses to know the best time to enter the market.
  4. As with other cryptocurrencies and financial assets, investors buy the asset (in this case, Bitcoin Cash) and hold it for a long time with hopes of making accumulated profits while traders take advantage of the daily price differences to make money.
  5. With the cryptocurrency market, it is hard to say. The crypto market usually evolves rapidly since it is still in its early stage. We recommend staying up to date with Bitcoin Cash news to follow the latest market trends.
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