Bitcoin Cash Price Prediction

Bitcoin Cash is part of the list of the most popular Bitcoin blockchain forks of the original network. This cryptocurrency arose out of disapproval regarding how Bitcoin was turned from Satoshi Nakamoto’s route to digital cash.

At its launch, the coin was trading at $ 250, and the next day, the price increased to $ 651 per coin. In the middle of the month, Bitcoin Cash was around $ 900.

In this guide, we provide an expert Bitcoin Cash price prediction for 2021 and 2022. We’ll then provide a long term Bitcoin Cash forecast, looking from 2025 all the way to 2030.

Bitcoin Cash Prediction 2021

You may wonder what the future will hold for Bitcoin Cash and what will its performance be like in 2021? An indicator to obtain clues regarding its evolution is the CoinGecko listing. Currently, Bitcoin Cash occupies the 12th position. Will the recent development and changes in the blockchain be a potentiating element for the price of BCH? Next, we will analyze the charts in this BCH Price Prediction article to deepen our answer to them.

In the graph, we see a symmetric triangle pattern. According to what is evidenced in this indicator, we denote a consolidation period that could be the catalyst for a price break. On the other hand, a gap in the lower trend line symbolizes the advent of a downward trend, while separation from the upper trend line sets up a new uptrend.

Based on what is observed at the top, Bitcoin Cash reoriented its bearish position to maneuver into a bullish cycle at the beginning of the month. This behavior becomes a hypothesis to consider, the high volume of trade evidenced in this period.

The Relative Strength Index (RSI) is at 46.79. So what does this indicator mean? In short, we deduce that Bitcoin Cash BCH has opted for a conservative stance and is holding on a neutral trend.

With the above in mind, traders interested in the cryptocurrency market can expect an average trading experience without being subjected to a significant price reversal. However, it is recommended to exercise caution and deviate from any extreme market position to avoid unforeseen losses. Why should we take this into account? Mainly due to the sudden volatility of the cryptocurrency market.

In another respect, let us follow the signs that show us the Simple Moving Average (SMA) and the exponential moving average (EMA).

In the first months of 2021, the Bitcoin Cash has suffered from a trend that shows us a predominance of bullish movements that have been higher than the previous one. But, on the other hand, these have been preceded by signs such as consolidations, fluctuations, and corrections instantaneously.

With the explosion of the crisis caused by the Coronavirus pandemic and the consequent global economic recession that persists in the European continent, cryptocurrencies have acquired a role as haven assets. Despite this, Bitcoin Cash has not been able to take advantage of this situation sufficiently.

Despite its good kick in January, the BCH has reversed lower and lost many actions. With the optimistic market sentiment for cryptocurrencies, the development of Bitcoin Cash seems to be going in the opposite direction.

Bitcoin Cash transactions are usually much cheaper compared to Bitcoin. Why do we ensure this? It has its explanation in its greater scalability. It makes small transactions more affordable, being the fundamental reason for the schism between Bitcoin and Bitcoin Cash in 2017. In another sense, BCH is focused on increasing the block size to allow faster transactions parallel with a reduction in the rates. The effect of such competition has been counterproductive for Bitcoin Cash. However, gradual adoption of the cryptocurrency by big institutions, such as Paypal, would translate into a rise in its price. Another positive result will be its incorporation into the trend driven by the rest of the crypto market.

With these reasons in mind, Bitcoin Cash offers investors a market with very competitive characteristics in 2021.

Bitcoin Cash Price History – the Story of 2021 So Far

At the beginning of 2021, Bitcoin Cash persisted in a quote around the $ 340.56 range. In a bullish development, the price rallied and began to rise to the top of $ 595.02 around January 10. However, amid the market crash suffered during the trading session on May 19, the price of Bitcoin Cash fell substantially from $ 1093.36 to $ 706.80.

The cash price of Bitcoin USD entered a highly volatile outlook after this event, which fell further and reached $ 596.84 as a June hit. Therefore, any positive impact on Bitcoin will increase the price of Bitcoin Cash and, of course, in the opposite direction.

Some positive signals on Bitcoin could set the momentum for BCH to jump-start in the coming months. Signs like the authorization of SkyBridge Capital’s 7.5 billion hedge fund on the coin and the adoption of BTC as a legal currency in El Salvador are clear examples. The price may turn to an uptrend if expectations are met, with slight setbacks, and touch the $ 1,418.17 level later this year.

Many criticisms are sustained because the Bitcoin Cash network does not have a well-defined governance protocol that could bring the entire system into play. In today’s highly competitive currency market, this is seen as a critical setback for Bitcoin Cash to grow even further. Furthermore, if the network does not establish a defined protocol, the price would be subject to turning bearish, and investors would distance themselves from the platform. For these reasons, the price can even reach lows of $ 655,440.

In a scenario without any development that favors the evolution of Bitcoin Cash, the currency could constantly fluctuate and reach $ 1000 on average by the end of the year.

Bitcoin Cash Price Forecast 2021

Bitcoin Cash trades around a bearish track at $ 497 on a break from the $ 714 support level in the monthly time frame. At the moment, this level is assuming a role as resistance for the BCH/USD currency.

Excluding this, the chances of the selling trend continuing are still relatively high. Therefore, the double bottom pattern is feasible in the monthly time frame to provide support at the $ 70 level once the $ 398 support level is violated.

On the upside, resistance continues to be supported at the $ 700 and $ 1070 levels, extending 23.6% at the Fibonacci retracement levels. A bullish breakout of the $ 1065 level may be the catalyst for further buying until the $ 1,695 and $ 2160 levels extend 38.2% and 50% from the Fibonacci retracement levels.

On the monthly chart, BCH/USD has been trading bearish at the $ 499 level. Despite this, leading indicators such as MACD and RSI have started entering the buy zone. Meanwhile, the chances of an upward correction in the coming months remain latent. On the other hand, the BCH/USD coin is trying to close the hammer pattern. If it happens, this will cause a strong uptrend in the BCH/USD currency.

In a lower time frame, BCH has visualized a head and shoulders pattern. The head and shoulders pattern is equivalent to a specific chart formation that predicts a reversal from bullish to a bearish trend. Likewise, the pattern is one of the most reliable trend reversal patterns.

In short to a medium-term scenario in this BCH price forecast, the BCH must break above the resistance level at $ 986. For this to consolidate, it has to establish more support at the Fibonacci level at $ 718. From otherwise, BCH may not reach the bullish price of $ 986.65.

Meanwhile, the long-term forecast is optimistic. It has a high chance of exceeding its current highest price (ATH) of $ 4,355 this year. However, this variable will only happen if it overcomes a series of psychological resistances.

Bitcoin Cash Price Prediction Long Term Outlook

Despite the promising horizon for Bitcoin Cash and its expectations of being bigger relative to Bitcoin, there is still a long process to…