Bitcoin Cash (BCH) is the crypto coin that aims to make online transactions quicker and cheaper. But what is going to happen to it? What's the Bitcoin cash price prediction? Is Bitcoin cash a good investment 2022? Please read on.
From the Bitcoin Cash whitepaper
The Bitcoin Cash: Peer-to-Peer Electronic Cash whitepaper laid out the rationale behind developing the new cryptocurrency.
According to the Bitcoin Cash website: “Bitcoin became increasingly unreliable and expensive. This was because the community could not reach a consensus on increasing the network capacity. Some of the developers did not understand and agree with [Bitcoin founder Satoshi Nakamoto’s] plan. Instead, they preferred Bitcoin become a settlement layer.
Bitcoin Cash: The early years
One thing to note about Bitcoin Cash is that it had its best times, at least in terms of its overall price, back around the time it was launched. Late 2017 and early 2018 were boom times for crypto generally and Bitcoin Cash, as a new and exciting cryptocurrency, captured a lot of people’s attention.
When Bitcoin Cash first came onto the market in July 2017, it was priced at around $400. While there were some ups and downs over the first few months, things really started to heat up towards the end of the year. On 20 December 2017, it hit an all-time high of $4,355.62, more than 10 times what the coin had been worth when it came out around five months earlier.
Those good times could not last, though, and the drop was harsh. Around a year after its record high, Bitcoin Cash hit an all-time low of $75.08 on 15 December 2018. This represented a drop of more than 98% over the space of 12 months. There was then some recovery, and BCH spent most of 2019 and 2020 hovering between $100 and $500. But changes were about to take place.
Bitcoin Cash price history: Times of change
The first few months of 2021 saw cryptocurrency generally booming. While Bitcoin Cash was not able to get anywhere near the heights it had reached in late 2017, at the start of last year BCH was worth $342.98. Two days later it closed at $421.79 on 3 January.
Although there was some volatility and fluctuation, the overall movement of travel was upwards, with the coin hitting an intraday high on 9 January 2021 of $587.89. There was still room for improvement, though, and the following day’s intraday high of $629.80 was the best price that month, before the coin went back down to finish January at $399.77.
February’s best score was $767.51 on 15 February 2021. While there was a fallback to a monthly close of $459.91, this was another month when the coin finished higher than it started. That pattern continued in March, with the end-of-play price of $543.24 on 31 March coming after a monthly high of $607.07 on 13 March 2021.
April continued the pattern, but with some very bullish behaviour. The intraday high on 16 April 2021 of $1,170.73 was the first time the coin had broken the $1,000 barrier for quite a while, and the following day’s intraday peak of $1,208.59 was a monthly high. BCH then went down, but April’s closing price of $993.43 was still 83% higher than the end of March and almost three times higher than it had been at the start of the year.
BCH price history: Crash and recovery?
May 2021 was a month where pretty much anything went. The monthly and 12-monthly high of $1,635.15, an intraday high on 12 May 2021, came as the BCH price enjoyed a sustained rally above the $1,000 mark. But then disaster struck.
Bitcoin Cash was not immune to the great crypto day crash on 19 May and it fell by more than half, from a daily high of $1,110.53 to a low of $507.73. While it recovered to close the day at $706.80, and went up the next day to close at $821.60, the damage was done. The coin ended May 2021 at $703.88, down by nearly 30% from the previous month.
June 2021 saw another significant monthly fall, this time of just over 25% to $526.30, though July’s closing price was up slightly at $547.80. This led to some revised Bitcoin Cash predictions, and August was another positive month. There was a monthly high of $713.67 on 16 August 2021 and it finished the month at $636.77, up 16% from the end of July.
September 2021 saw bearish forces take control and it ended down 21% to $502.50 as the month came to an end. October was a bit more positive and, on the afternoon of 29 October 2021, BCH stood at about $581, eventually closing at $596.24. On 9 November the coin reached $716.32, but over the course of the month it followed a downward trend, and by 2 December 2021, it hit an intraday low of $559.18.
The winter period was a difficult time for cryptocurrencies overall, and Bitcoin (BTC) fell by 25% over the course of January. BCH also struggled over the bearish period, and by 10 January 2022, the coin was valued around $357.
The coin continued its downward trajectory to a low of $262.50 on 24 January 2022, its lowest point in well over a year. The coin looked as if it would be hovering around the $300 mark for some time, until Russia’s invasion of Ukraine on 24 February prompted a fall to $261.34.
There was some recovery from this, but by the middle of March it was back below $300. That was until a market upswing late in the month pushed the price up, and on 31 March 2022 it closed at $384.04.
April was another difficult period for crypto yet again, as fears of another crypto winter loomed large over the volatile market. New regulation continued to pose threats to Bitcoin, including a ban on proof-of-work crypto mining operations in New York. Worse news was to come as a market-wide crash caused Bitcoin Cash to plummet, hitting a low of $160.07 on 12 May.
Market turmoil continued well into June, leading to a low of $108.09 on 17 June 2022. This downtrend continued until BCH hit $98.29 on 30 June 2022 – a 52-week low according to CoinMarketCap.
Some slight positive price movement followed, however, and as of 8 August 2022, the token was trading at around $147.12, moving roughly in line with broader crypto market activity.
At that time, there were approximately 19.1 million BCH in circulation, representing the total supply. There is a current max supply of 21 million, so 91% are in circulation. The coin had a market cap of just over $2.8bn, making it the 30th-largest crypto by that metric.
Bitcoin Cash price predictions
With that all said and done, what is the Bitcoin cash price prediction?
WalletInvestor suggests that it will be worth around $11.94 in a year. The site’s Bitcoin Cash price prediction for 2025 is marked by volatility, between $10 and $19. In addition, the site states that the coin is a “bad” long-term (one-year) investment.
DigitalCoinPrice suggests the coin could be worth up to $211.19 in 2023 and makes a Bitcoin Cash price prediction for 2030 that forecasts BCH could be worth an average of $668.65 before reaching $780.37 in 2031. Shorter-term projections include a value of $196.61 in September and $208.44 in December.
CoinPriceForecast also provides some positive projections, stating: “According to the latest long-term forecast, Bitcoin Cash price will hit $200 by the end of 2022 and then $250 by the middle of 2023.”
However, Gov Capital does not provide a positive outlook, suggesting the coin will be worth nothing by the end of this year.
Is Bitcoin cash a good investment 2022?
It might be. That said, you do need to be cautious. Cryptocurrencies are highly volatile and prices can definitely go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
Will Bitcoin Cash go up?
It might. The market has been highly volatile over the past year, and Bitcoin Cash has not seen the kind of persistent, fatal lows that would render it a deadcoin.
However, cryptocurrencies are highly volatile and prices can fall as well as rise. You need to carry out your own research and never invest more than you can afford to lose.
What is the Bitcoin Cash price prediction for 2025?
That depends on who you ask. WalletInvestor suggests Bitcoin Cash could close 2025 at $11.79, whereas DigitalCoinPrice believes the coin could make $343.26 by the end of December 2025. Gov Capital, on the other hand, is rather gloomy, forecasting a steep and immediate downward projection.
Owing to this massive spread, plenty of research will be required. You should draw your own conclusions regarding the longevity of the coin before investing any money.
Hope this article can provide you with a better understanding about Bitcoin cash price prediction.
