The Bitcoin Cash price is often compared to the price of Bitcoin. Of course this has to do with the fact that BCH is a hard fork of BTC, but that’s not all. Bitcoin Cash has its own advantages. Faster transactions, lower costs and a strong community that has gone its own way. On what is the Bitcoin Cash price based on and what can we expect from the Bitcoin Cash value in the future?
The Bitcoin Cash price has a strong foundation in the community. Since the hard fork from Bitcoin, this community has been working together to create something unique. They did not agree with the path BTC had taken and saw alternatives.
Unfortunately we cannot say that there are many strategic collaborations. It is true that the attention for this hard fork has turned from negative to positive. This is mainly due to the successful improvements implemented on the blockchain. This can also be seen in the price developments. Where many coins have fairly flat rates because their time is yet to come, this is not the case with BCH.
The Bitcoin Cash price in the past has shown major increases and decreases. And that makes it interesting to trade in Bitcoin Cash. Also because these coins are used more and more as a means of payment.
And the future?
Bitcoin Cash was dismissed as a hard fork without consensus. And now it’s a top 10 player to be taken seriously. The current recognition and popularity are of big importance, because of this the price has a solid foundation. In addition, BCH has the same maximum number of coins as its big brother Bitcoin, because it uses a largely similar blockchain. The total circulation of Bitcoin Cash is therefore finite and 21 million. In the long run this should cause scarcity.
As adoption in retail grows this will be one of the global currencies. At the same time it is good to keep an eye on its competitors. They will not be sitting by idle.