Bitcoin Cash/BCH#14 69

What is Bitcoin Cash(BCH)?

Bitcoin Cash (BCH) is a cryptocurrency fork of Bitcoin, created to eliminate the slow transactions and high fees of Bitcoin. BCH is commonly referred to as an electronic cash system that was introduced to serve peer-to-peer payment purposes when Bitcoin was involved more in trading than being a payment currency.

Being a split or fork, Bitcoin Cash runs on the Bitcoin blockchain with the same consensus proof-of-work mechanism, supports smart contracts and Dapps, and has the same supply of 21 million BCH and a circulation of 19.77 million BCH. 

Due to the 1 MB block size limitations of the Bitcoin block, there was increased transaction volume and longer confirmation times during high demand, leading to delayed transaction processes and a higher transaction fee.

To address this issue, the Bitcoin community, which includes a set of developers and miners, created and developed Bitcoin Cash, which emerged as a result of the hard fork on 1st August 2017.

Hard fork split Bitcoin into two blockchains: bitcoin and bitcoin cash. The block size of Bitcoin Cash increased from 1 megabyte to 8 megabytes and has now grown to 32 megabytes, helping to process more transactions per block and reducing network congestion and transaction fees. 

The key difference between Bitcoin and Bitcoin Cash is the larger block size of Bitcoin Cash, which enables it to make fast and low-cost transactions, making it suitable for microtransactions.

BCH(Bitcoin Cash) Coin Tokenomics

BCH Coin is a standard cryptocurrency representing the Bitcoin Cash project, the clone or fork of Bitcoin. This altcoin after the fork was distributed in a 1:1 split ratio, meaning any holder with 1 BTC will receive 1 BCH, respectively. 

Then, on the same day as the fork happened, the clone coin was listed for trading on Binance and Kraken on 1st August 2017 for $240 as the base price. 

Initially, it was designed to make peer-to-peer, fast, cost-effective transactions while maintaining user privacy. Other use cases include buying things, making cross-border transactions, and private transactions using tools such as CashShuffle and CoinFusion.

It broke the record on 20 December 2017 and reached an all-time high of $4,355.62. Its all-time low coin price was $75.08 on 15 December 2018. 

Where To Buy Bitcoin Cash (BCH)?

Bitcoin cash is purchased and traded on crypto exchange platforms; some popular ones are Binance, KuCoin, Kraken, Coinbase, WhiteBIT, HTX, EarnBIT, and many more. While buying Bitcoin Cash on any platform, consider payment methods, transaction fees, and limits. 

Supported Wallets for Bitcoin Cash(BCH) tokens

A crypto wallet is a device used to store private keys and keep the coins safe and secure, which allows one to access crypto coins. It is used to send, receive, and manage the transactions. 

There are many crypto wallets in the market; some of the best wallets for Bitcoin Cash are:

• Coinbase Wallet

• Trezor Safe 5

• Binance wallet

• MetaMask

• Ledger Nano X

• TokenPocket

• Trezor Model T

Bitcoin Cash (BCH) Price Prediction 2024-2030

As per Coinpedia, BCH coin started trading at $259 at the beginning of 2024. BCH coin will see a significant price jump by the end of 2024, anticipating a bullish trend in the market; it is predicted to hit $. This is because of the surge in Bitcoin price near to $100,000K. On the flip side, it may drop to $250.

The BCH price prediction for 2025-20230 is as follows:

Bitcoin Cash (BCH) 2025:

• The BCH price in 2025 is forecasted to range between $692 and $1711.

Bitcoin Cash (BCH) 2026:

• In 2026, BCH price prediction is estimated to fluctuate between $1793.11 and $2805.87.

Bitcoin Cash (BCH) 2027:

• The BCH price prediction for 2027 is ranging between $2646.31 and $3601.34.

Bitcoin Cash (BCH) 2028:

• For 2028, BCH price prediction is expected to vary between $3039.51 and $4545.74.

Bitcoin Cash (BCH) 2029:

•  In 2029, BCH's price prediction is that it will drop to $3596.78 and reach $5374.27.

Bitcoin Cash (BCH) 2030:

• Projecting forward BCH price prediction for 2030 is likely to shift between $6292.56 and $4137.11.