Bitcoin Cash Price Jumps to One-Year High Fueled by Spiking Social Interest, Exchange Support (2024)

FAQs

Why did BCH go up? ›

The BCH halving executed on April 3 has sparked fears of a major market crash, which prompted investors to take a caution position on BCH over the past month. That concern seems to have eased up as BCH price action in May 2024 began with 6 consecutive green candles, delivering a blistering 24% rally in the process.

For example, Litecoin price jumped sharply ahead of its halving event in August last year. Similarly, Bitcoin has now pumped to over $61,000 ahead of its halving event in April. The other main reason why the BCH price is pumping is that it is often seen as a cheaper alternative to invest in BTC.

Bitcoin Cash is surging after its recent halving, which is separate from Bitcoin's upcoming halving. Mantle is seeing strong momentum return, as its newly-released reward system comes into effect.

Investors, attracted by Bitcoin Cash's (BCH) lower transaction fees and faster processing times, view BCH as a practical alternative to BTC for daily transactions and speculative investments.

If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%. Read Next: Bitcoin has jumped another 45% already this year – how much would you need to get started today?

The surge is largely because of the halving event and prevailing optimistic market sentiments. Bitcoin Cash, a proof-of-work blockchain split from Bitcoin in 2017 aiming for quicker, cheaper transactions, has struggled with widespread adoption within the crypto community.

Bitcoin Cash Price Prediction 2028

This can be considered as the start of a recovery phase where the tokens begin to rise, aiming to test the higher targets. During the second half, the BCH price could rise above $5000 as the buying pressure intensifies.

A major factor in bitcoin's rise since the start of the year has been the approval by the US financial regulator in January of exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.

Weaker Security- The transactions processed in Bitcoin Cash are faster and lower as compared to Bitcoin. It is because it requires less mining power to verify new blocks, thereby making the system less secure than Bitcoin.

Bitcoin Cash (BCH) provides cheaper, faster transactions, attracting budget-conscious investors. BCH emphasizes peer-to-peer cash transactions, contrasting Bitcoin's store of value focus. Challenges include adoption lag, centralization worries, and lack of distinctiveness, hampering BCH's investment appeal.

How high can Bitcoin Cash go? ›

According to your price prediction input for Bitcoin Cash, the value of BCH may increase by +5% and reach $ 588.91 by 2030.

According to our Bitcoin Cash price prediction, BCH price is expected to have a -2.67% decrease and drop as low as by June 14, 2024. Our analysis of the technical indicators suggests that the current market feeling is Bearish Bearish 61%, with a Fear & Greed Index score of 72 (Greed).

Bitcoin Cash (BCH) surged 10% after successfully completing its reward halving event that cut the block reward to 3.125 BCH. The cryptocurrency market remains mostly unchanged, with bitcoin – whose halving occurs later this month – trading at just above $66,300, up 0.3% in the past 24 hours.

And if more strategic investors take a cue from the long-term holder's bullish disposition, Bitcoin Cash price could witness a parabolic breakout towards $1,000 milestone in 2024.

BCH crypto price may reach a potential high of around $435 by the end of 2024. Bitcoin Cash price, with a potential surge, may reach up to $2,090 by the end of 2030. This is testing shortcode 492.7776.