Expansion of the internet and technology has led to a further increase in the popularity of cryptocurrencies. They are not only very popular but more and more are emerging every day. The most famous is for sure Bitcoin, and it had a very big increase in value a few years ago, but it shows steady growth once again. But, what can be assumed about its handle, bitcoin cash? The overall assumption is that it will follow the trend of the coin it came from. Is it all true, find out below?
Bitcoin Cash Value
Released in the second part of 2017, this fork of bitcoin raised. It was created since there was a noticeable increase in the popularity of bitcoin and cryptocurrencies. The idea behind it is to ease the load of the main currency, Bitcoin. The size of the blockchain increased, and with it, there was a change in the value of it. When created, it was only one megabyte big, later it increased eight times, and after that, it increased in size four times. The increase in size led to the addition of security protocols, which was very important for the whole process of an increase in Bitcoin cash popularity. The increase in popularity meant more miners, and it was essential to protect the data in the best possible way.
When released, in late summer, three years ago, the value of the bitcoin cash was around two hundred dollars. Due to the popularity of its name, since it was released as a fork of the well-known bitcoin, the price for the first four weeks of its existence was around five hundred dollars. This meant that the value of it doubled in around three weeks. It continued to increase the value, and three months after being released, it had a value of one thousand dollars. As the year in which was released was coming to an end, bitcoin cash reached its biggest value, a bit over four thousand dollars, or four thousand three hundred and fifty-five dollars.
Img source: thebalance.com
After this big expansion and price increase, there was a drop in the value, and it seemed like it is losing on its value as fast as it was gaining. About a year after it had the highest peak in its value, it has hit its lowest low, and in November, two years ago, Bitcoin cash has a value of only seventy-five dollars. Last year, the value had doubled and stayed like that for a few months. It did have some minor decrease and increase in its value, but at the start of the current year, 2024, it has reached the value of two hundred thirty-four.
What can change the value of this cryptocurrency? The value of a cryptocurrency is affected by numerous things. Something that is labeled as a cause of a decrease in the values was a security breach. This has led to the loss of funds for some. Once the security protocols have been updated, there were no other problems with security problems so far. In addition to this, other protocols have been updated as well, leading to faster transactions and communication. There was a noticeable increase in trade of the currency, as well as in the value of it. If you would like to get a good deal and trade your bitcoin cash, check out bitcoinaussiesystems.com.
Price Prediction
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Different sources have different numbers when it comes to the prediction of the value of the coin. What is interesting is that all of the sources that have dealt with the prediction of the value have stated that there are indications that the value of bitcoin cash will increase. The question is, to which extent?
Trading Beasts have predicted that the increase will be small and steady, and one of the predictions is that this growth will continue. The assumption is that the value will reach five hundred dollars until the end of the year.
Others, like Wallet Investor, predict that the value will increase, and will be followed by the immediate decrease in the spring of 2024. A very big decrease in the coin is expected during the summer and autumn of 2024. This decrease will be again followed by an increase, reaching around one hundred dollars at the end of the year. They also stated that during the following four years, bitcoin cash values would follow the trends described, increasing, and decreasing their value as the year passes. The value range they predict is from a hundred to thousand dollars, which is a very big range, and the price will, for sure, be somewhere in that range of values.
Img source: bitcoin.com
The digital point price predicts the steady and slow growth of the coin. Their predictions are based on the increased popularity of it on the market, and even though there will be some fluctuations in the value of the coin, it will reach some interesting values. They stated that till the end of 2024, bitcoin cash would have a value of about five hundred dollars. And with an overall increase in the value, it should reach around one thousand dollars till 2025, with around two hundred dollars growth in value at the end of each year.
When it comes to predictions, Long Forecast has a negative view of the overall coin value. They do not think that the coin will reach values that are greater than three hundred dollars. In the next three years, by their predictions, the growth will be slow and steady, and if lucky, there will be an increase in the value of up to three hundred dollars till the end of 2024.
Conclusion
Bitcoin cash has expanded pretty fast and had its ups and downs when it comes to its value. As on the stock market, it had an increase and decrease in the values. Overall, there is a trend of a steady increase in the value, and the predictions are that for the next five years, it will follow this trend and bring back its highest value that it reached the beginning of its existence. It is important to know that the currency is now very stable, and its protocols are secure, so there are no fears of a security breach, which can only lead to increasing in the value of this cryptocurrency.
