Bitcoin Cash (BCH) is a cryptocurrency created in August 2017 after a hard fork that split Bitcoin into two separate chains. The split followed a heated debate on how to solve Bitcoin’s scaling problems. Bitcoin Cash sought on-chain solutions, like bigger block sizes. Once the hard fork activated, the new chain adopted an 8MB and then 32MB block size.
Bitcoin Cash is now a standalone cryptocurrency whose native token is used as digital cash. One frequently asked question relates to what the value of Bitcoin Cash is today. According to the Bitcoin Cash historical price chart, BCH surged to an all-time high of $4,355 in December 2017.
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Buying Bitcoin Cash is easy, with most crypto exchanges and brokerages offering BCH trading pairs and access to BCH live price feeds. You can buy Bitcoin Cash via several payment methods; but before you commit your funds into buying Bitcoin Cash, take time to find a regulated platform or broker. Reputable platforms that are regulatory compliant add to the overall security of your investment assets.
In January 2018, the Chinese authorities announced a ban on centralized trading of cryptocurrencies and other virtual currencies. The news, though much like in 2017 when China banned ICOs, sees the crypto market react negatively. Bitcoin declines 15 percent, Ethereum (ETH) 20 percent. Like the rest of the altcoin market, Bitcoin Cash prices suffered a massive hit. That basically ended the cryptocurrency’s bull run, with prices falling to new yearly lows.
BCH is set to increase in value and surpass highs reached over the past year. We get this from an analysis of various factors in our Bitcoin Cash price prediction 2020. But how does the current value of Bitcoin Cash compare to other assets in the market?
Between January and September 2019, the value of GBP dropped from 1.275 to 1.20 against the US dollar. A slight rally followed the US off-year elections to see it reach 1.35 before it dropped once more to 1.31.
In comparison, the value of Bitcoin Cash in pounds had a much more rewarding year during 2019. The Bitcoin Cash Price Live Chart shows that BCH/GBP pair sits at £255 at the time of writing. That means that 1 BCH is equal to £255 GBP. Note that the pair traded just below the £100 mark in January 2019. But a 75% surge means that from an investment point of view, Bitcoin Cash offered a great opportunity to investors.
Global stocks posted strong performances during 2019, the market’s best run since the financial crisis which occurred just over a decade ago. The global stocks index jumped by almost 24%: specifically, London’s FTSE 100 jumped by 12%, the S&P 500 surged by 28%, Germany’s Dax swelled 25%, Japan’s Nikkei 18%, and China’s CSI 300 surged by 36%. So stocks posted profits in 2019. But how do these compare to Bitcoin Cash?
Despite hitting a low of $75 in December 2018, BCH rose to prices above $450 in May and ended the year 75% higher than its value at the start of the year.
In 2019, the S&P, for instance, hit new highs 19 times. Comparatively, Bitcoin Cash hit a new high 20 times. Historical price data by Barchart.com shows that YTD, Bitcoin Cash has hit a new high 13 times and a new low, only 3 times. The value of BCH is currently +60% on its last low. For investors, the Bitcoin Cash Price Predictions for 2020 points to even better performance.
Bitcoin Cash (BCH) and Bitcoin (BTC) share their history and ledger up to the hard fork in 2017. Both cryptocurrencies have a coin supply limit of 21 million, are mineable and follow a deflationary economic model. The main difference is their approach to scaling, with the former favoring on-chain solutions as opposed to the off-chain ones that Bitcoin is pursuing.
But it’s this difference that has seen BCH offer faster confirmation times and cheaper transactions, owing to its larger blocks. As such, Bitcoin Cash is more suited to use as a day-to-day currency, while most people perceive Bitcoin as a store of value and safe haven assets – much like gold.
Bitcoin romped to an all-time high price of almost $20k in December 2017 and remains the benchmark crypto. And while both are volatile assets, the altcoin is wilder in its price movements. BTC thus has broad appeal to investors, but low prices and Bitcoin Cash Future Value Predictions make BCH a great asset to add to any portfolio.
While it is true that the value of Bitcoin Cash today is a fraction of its peak price acheived in the past, what is clear is that most Bitcoin Cash price forecasts have BCH trading at a new high long-term.
In two short years, BCH developers have worked to offer a platform that supports the use of the coin as a digital currency. It is wise to acknowledge that the crypto market is still young and volatile, where the potential for pitfalls still exists. But even so, much has been done over the past ten years to make it an alluring investment opportunity. If you are looking to invest in BCH, then remember: investments have risks. However, due diligence, expert advice, and Bitcoin Cash price predictions should help to inform your investment decisions.
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