Is Bitcoin Cash Worth Trading? – A Quick Analysis

Bitcoin Cash, a hard fork of Bitcoin, came into existence on August 1, 2017, when one section of the Bitcoin community decided to resolve scalability issues of the Bitcoin protocol by increasing the block size from 1 MB to 8 MB. Thus, let us dive into certain details of Bitcoin Cash like its current market status, price prediction, topmost cryptocurrency exchanges, which list BCH for trading, and a lot more through this article.

What is Bitcoin Cash (BCH)?

Bitcoin Cash was created when a section of the Bitcoin community forked away from Bitcoin’s protocol. It again underwent another fork in November 2018 to give rise to two separate protocols and communities: Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision).

 

So, Bitcoin Cash (BCH) is a decentralized peer-to-peer digital cash. Typical characteristics of Bitcoin Cash include having block sizes between 8 MB to 32 MB, absence of SegWit, lack of “replace by fee” feature, and ultimately being enabled with replay and wipeout protection. Additionally, it allows adjustment of the Proof-of-Work difficulty. Thus, in these aspects, it is different from Bitcoin. In other aspects, Bitcoin Cash is similar to the technical concepts used by Bitcoin. They both also use the Proof-of-Work consensus mechanism for mining.

Expert Opinions on Bitcoin Cash

Bitcoin Cash had been in a volatile and unstable state briefly, but then it stabilized after some time. It now displays an uptrend of price movement. It is often difficult to predict the exact future of Bitcoin Cash.

 

The founder and CEO of the Gatecoin exchange believe that if miners can earn more money by mining larger blocks, they would automatically dedicate more hash power to BCH.

 

Roger Ver, Bitcoin Jesus, has been quite a supporter of Bitcoin Cash since its launch and believes that BCH’s value might double in a year. As Bitcoin Cash can be used like fiat currency, he believes that this drives its popularity. You can also visit https://www.cryptonewsz.com/ to get the experts’ opinions and price predictions of the Bitcoin Cash.

 

How to Buy Bitcoin Cash?

If any trader is interested in trading in Bitcoin Cash, then here’s how to do it:

 

• They need to first head to a crypto trading platform that lists the Bitcoin Cash token.
• A sign-up on the platform might be required for new users.
• Then, they would have to fund their wallet with either fiat currency or any other cryptocurrency.
• After this, they can begin their trading journey by buying Bitcoin Cash tokens.

An Insight into the Bitcoin Cash Price Prediction

Bitcoin Cash (BCH) price at the time of writing this article is $1,082.95. The market capitalization of BCH is $20 billion, and the 24-hour trading volume is $6 billion. The circulating supply of BCH is 18,727,406, while similar to Bitcoins, Bitcoin Cash’s total coin supply is already capped at $21 million.

 

Bitcoin Cash Price Prediction suggests the following price movements:

 

• As per Trading Beast’s technical analysis, the price of one Bitcoin Cash token might reach $1,043.188 by November 2021. By December 2022, its price might hit the $1,237.222 mark. By 2023 and 2024, the price of the Bitcoin Cash token might surpass $1,474.666 and $1,724, respectively.
• Crypto Ground predicts that the price of the Bitcoin Cash token might reach $3,067 in five years.
• Meanwhile, CoinSwitch speculates the price of Bitcoin Cash tokens to hit $5,891 by the end of 2025.

Top Brokers for Trading Bitcoin Cash

Trading Bitcoin Cash is possible through the following cryptocurrency exchanges:

 

Cryptocurrency Exchanges	Available Trading Pair
Binance	ETH, USD, BTC, BNB
Bittrex	USD, ETH, BTC
Poloniex	ETH, USD, BTC
HitBTC	USD, ETH, BTC
Coinbase	BTC
ShapeShift	USD
BitBay	BTC
EXMO	ETH, BTC, USD
LiveCoin	USD, ZBC, ETH, BTC
EXMO	ETH, BTC, USD
Livecoin.Net	USD, ZBC, ETH, BTC
Novaexchange	BTC, LTC, ETH
Gate.io	USD, BTC
Kraken	BTC
HoubiPro	HT, USD, BTC
Waves	USD, BTC, Waves
Bitfinex	USD, ETH, BTC
KuCoin	USD, ETH, BTC, KCS, NEO

 

Final Verdict

Bitcoin Cash currently has a market rank of 12 in the crypto coin ranking list by CoinMarketCap. Bitcoin Cash claims to solve scalability issues and is already popular among users because of its wide range of applicability. Thus, traders might consider investing in this crypto asset as its price movement looks promising in the near future.