In this article, we will list the best Bitcoin Cash price predictions for 2019. We will start with a short introduction about Bitcoin Cash and what a hard fork is (Bitcoin Cash is a hard fork from Bitcoin).
In any market (and cryptocurrencies are no different), when the stage is set for the bull run, market leaders are the ones who are the first to pull the others onward, and one such is, definitely, Bitcoin Cash.
Since the price of Bitcoin (BTC) has broken through the $11,000 mark, there is an all-encompassing positive market sentiment brewing, and therefore, through this article, we will bring you what other outlets predict for the fourth biggest cryptocurrency according to Coin Market Cap.
But first, let’s deduce the basics.
What is Bitcoin Cash?
At the very beginning, all our readers must note that when we mention Bitcoin Cash (BCH), we refer to what is lately known as Bitcoin ABC – a cryptocurrency forked off Bitcoin’s chain, but was recently forked into Bitcoin ABS and Bitcoin SV.
To define Bitcoin Cash (BCH or Bitcoin ABC) you first need to know what a blockchain (hard) fork is.
What is a blockchain fork?
A fork in the crypto/blockchain multiverse is an event when, due to changes being implemented in the code, the original chain gets split into two versions. An old one with an original set of rules, and a new one with a new set of rules.
There is a significant difference between a hard and a soft fork.
A soft fork is merely an update to the existing technology when the whole community agrees to start using the new chain instead of the old one.
However, since Bitcoin is decentralized, the community may not always agree on some upgrades, and sometimes they decide to part ways, making one blockchain being split into two, and both continue to be used by the opposing camps of the community. Such an event is called a hard fork.
Further Reading: Bitcoin Price 2017 vs Bitcoin 2019 Prediction
Is BCH a hard-forked BTC?
Yes, BCH is the result of a BTC hard fork that happened on the August 1st, 2017, at block 478558, as the result of two opposing camps not being able to reach an agreement about the way BTC should function in the future.
For every BTC held in a wallet, users were given 1 BCH, and the two blockchains continued to function separately.
One of the biggest differences between the two is that BCH enlarged each block in the network from 1MB to 8MB, resulting in faster and cheaper transactions. Consequently, the capacity of the network has increased from 7 to 24 transactions per second.
As a result of one of the most hyped up forks to date, BCH has risen substantially and, currently, as stated, sits at the fourth spot in the market according to the market capitalization.
What is the roadmap of Bitcoin Cash?
The main focus of the BCH development team is to prepare the network to become the most efficient means of payment. That means lowering the price of transactions to a minimum estimated not to compromise the network’s security and adapting the size of the block in accordance with the market movements.
Considering the technical upgrades, the team has implemented more than a few from their roadmap (official website quote):
- Transaction Ordering – scalable block processing
- CashAddr – easier & safer to use
- Sighash – hardware wallet security
- Basic Opcodes
- OP_RETURN At 223 bytes – social networks on-chain
- OP_CHECKDATASIG – oracles and advanced scripts
However, according to the official roadmap, there are still some upgrades being worked on:
- Fee Improvements – cheaper transactions
- Pre-consensus – near instant security for merchants
- More basic opcodes
- Faster Block Propagation – graphene or other
- UTXO Commitment – blockchain pruning
- Schnorr Signatures – batched signature validation
Regarding the planned upgrades whose development haven’t yet been set in motion:
- Adaptive Block Size – market-driven growth to 1TB blocks
- Merklix-Metadata Tree – scalable block processing
- Fractional Satoshis – fees low forever
- New Transaction Format – more capable, more compact)
According to bitcoincash.org, all these upgrades should lead to BCH becoming:
- Scalable for mankind with 50 transactions per day for 10 billion humans
- Best Money secure within 3 seconds with transaction fees forever low.
- Able to trade all classes of assets on the blockchain
Best Bitcoin Cash Price Predictions 2019
1. CoinSwitch: Bitcoin Cash Price Prediction 2019, 2020, 2025
As always, backed by the predictions published by some other relevant sources, CoinSwitch comes up with their own verdict for the price of BCH during three periods.
They state that, due to the pure rate of businesses adopting the cryptocurrency, during the second fiscal quarter, BCH will experience a “marginal increase”. However, fueled by the overall positive market sentiment, the fourth biggest crypto may even rise by 323% from the current price of $472 to reach the magic number of $2,000 until the end of the year.
The year 2020, according to CoinSwitch, will bring a lot more positives to BCH investors, as they estimate that the price can reach $4,039.6.
The astronomical growth will, according to this online outlet, be somewhat slowed down until the end of 2025. CoinSwitch predicts that until then, BCH can hit as high as $5,891, pushed by their paste results and some of the most anticipated promised network upgrades.
2. Wallet Investor: Bitcoin Cash Price Prediction
Contrary to CoinSwitch, Wallet Investor brings a much more modest BCH price prediction. According to them, Bitcoin Cash may even crash in the coming period.
This online crypto-trading prediction website clearly states their belief that BCH will not be able to reach even $1,000 in the coming year, going even further to say that there is a possibility that the price of Bitcoin Cash may drop from the current $470.79 to $57.478, making it a decline of over 87%.
3. Trading Beasts
Trading Beasts published a detailed, month-by-month, prediction until the end of 2022. However, their 2019 forecast completely misses the target as they stated that BCH will see the price of $165 in July this year. While this is still possible (there are 6 days of June left), it is highly unlikely as the cryptocurrency should completely sink by 65% in the period.
Still, they bring a long-term projection which may still be active, so let’s see what they say:
- December 2020: $2,445
- December 2021: $8,111
- December 2022: $19,022
4. Digitalcoin: Bitcoin Cash (BCH) Price Prediction 2019 - Forecast in the year 2019
Digitalcoin is one of those online sources which offers only dry numbers, and according to their analysis, BCH will hit $757 until the end of the year.
They also go further to predict the price movement until the end of 2026, so let’s see where they position the asset:
- 2020: $1,031
- 2021: $946
- 2022: $1,512
- 2023: $1,444
- 2024: $1,980
- 2025: $1,937
- 2026: $2,180
5. The Economy Forecast Agency: BCH Price Prediction For 2019, 2020, 2021, 2022
Interestingly enough, The Economy Forecast Agency on their website called longforecast.com calls for the 24% price decline in the coming month, which would set the valuation of 1 BCH at $358.
Furthermore, they do see the asset gaining support and the price pumping back towards $722 until the end of 2019, just to drop down to $219 until December next year.
According to the agency, the price of BCH is bound to recover again in 2021 and reach $591, which is the lowest prediction for the year of all mentioned in this article. However, they give BCH a fair chance in the long-run as they predict it to end the year 2022 at $1,071, and reach the summer of 2023 at $1,520.
Summary - Bitcoin Cash Predictions 2019
Regarding the 2019 prediction, the most pessimistic ones forecast a slow growth of BCH until the end of the year with the price of $757 or even drop down to around $57 in an undisclosed timeframe. More optimistic predictions say that BCH could go up to even $2,000.
In the long run, the most optimistic forecasters see Bitcoin Cash reaching $19,022 until the end of 2022. However, there are others that see BCH between $1,000 and $1,500 in the same interval.
Our Comments and Bitcoin Cash Price Prediction
Our price prediction is based on TA (technical analysis). However, keep in mind that huge news or general milestones reached can sometimes distort the results and make the price temporarily go either way.
In the daily BCH/USD chart above, you can see that the crucial level is $644. During the last year, that price was acting as both support and resistance. At the moment, the price of BCH is moving in the rising wedge formation towards the mentioned $644, and it could very well reach it in late July.
The same chart shows the Fibonacci time zone tool going from 0 to 8. In order to explain what it has to do with the price of Bitcoin Cash, let’s enlarge the chart.
The second, enlarged chart shows that the price of BCH is really following the Fibonacci time zone tool frames, and, according to it, Bitcoin Cash will reach the fifth zone exactly on August 25th, 2019, with the price of $644. The rising wedge is going to eventually collapse as it is the pattern announcing the bearish reversal, and the price is going to decline towards the sixth Fibonacci zone.
Towards the end of December, it is highly possible that BCH will drop down to $356, as that is the price which acted first as resistance than as a support when the wedge was forming.
Longer predictions are really tricky to do accurately based on TA as the already mentioned big market events may interfere with the price. However, we may say that the whole cryptocurrency market is on the rebound and it wouldn’t surprise us that Bitcoin Cash would also find its new all-time high next year.
Further Reading: Bitcoin Technical Analysis and Altcoin Technical Analysis