by Rushali 
Bitcoin is the oldest and most popular cryptocurrency in the world. If I say that the crypto industry is slowly moving towards the mainstream world is due to the growing popularity of bitcoin then it wouldn’t be wrong. Bitcoin has become the synonym for cryptocurrency.
Recently, bitcoin has reached $1 trillion in market capitalization for the first time in history. Yes, there are other cryptocurrencies as well that are also growing but nothing can match the craze of bitcoins. All other cryptocurrencies are kind of following the path of bitcoin only.
The growing popularity of bitcoin not only among the retail investors but many big market players as well has given the much-needed push to the whole crypto industry. All these things are 100% correct but just like a coin has two sides, bitcoin also has a side that has many problems in it. That’s the there are many cryptocurrencies that are invented to solve the issues of bitcoin. Bitcoin has the issues like challenges of accessibility, transparency, and huge transaction fees. To solve these issues Bitcoin cash is invented.
This article will focus on this invention only.
Introduction
Bitcoin cash is launched in the year 2017 by a group of developers. They have realized that bitcoin can have much more potential with a hard fork that increased the size of blocks. The main objective of Bitcoin Cash was to solve the issues concerning rising transaction fees and controversies surrounding scalability in the blockchain. Keeping in perspective peer-to-peer transactions as the mainframe and security as the pivotal purposes, this cryptocurrency was invented to facilitate the increase in block size from 1 MB to 8 MB that will automatically achieve an exponentially high speed of transaction process.
It is based on cryptographic methods that believe in zero-disclosure of evidence and the mathematical consistency of the entire blockchain-enabled transaction, which is cross-checked without revealing any data or message on the other party involved in the transaction.
Also Read : Monero price prediction
Collaborations
A London-based digital bank, Zinglu has decided to fund many cryptocurrencies including Bitcoin cash. It has collaborated with many partners to develop the community initiative. The projects are Bitcoin Unlimited, Bitprim, Nchain, Bitcrust, ElectrumX, Parity, and Bitcoin XT. Recently, Bitcoin cash has been listed on the German exchange. Ans according to data Bitcoin cash has around 63% of the total transaction in a day, which means the number of transactions for Bitcoin Cash is growing exponentially. The team of this cryptocurrency is working very hard on making some innovative projects.
Historical Price movements
On December 20, 2017, just after the launch of bitcoin cash, its value was $4000, which was an exception for a newly launched cryptocurrency. But as expected the price didn’t last long and it has fallen drastically. After it has a life full of ups and downs. But didn’t see any specific up as well as down move. We can say that bitcoin cash had a flat run.
Future prediction
It is one of the oldest players in the cryptocurrency market, Bitcoin Cash, the offspring of Bitcoin has become a trusted name among enterprise businesses. Its real-world applications have also helped it covering multiple major categories that enterprise businesses could potentially be interested in. And Bitcoin Cash’s large team of developers, which works on the blockchain’s protocol improvements, is considered by enterprise businesses as a technological benefit for the cryptocurrency. Today it is trading at $526.42. Experts believe that it will reach $2000 after 7-8 years from now.
- Bitcoin cash price prediction 2021
According to us the price of BCH will trade between $500-$600 levels this year. And on the higher side, it can touch $650.
- Bitcoin cash price prediction 2022
By the year 2022, the price will see a bull run and could reach the levels of $900 on the upper side. And on the downside, it can touch $700.
- Bitcoin cash price prediction 2025
4-5 years from now we can expect the levels of $1200 on the upside and on the downside, we can see the levels of $800. The overall sentiment of the market will be pessimistic.
Bitcoin cash has immense potential, there is no doubt about it. It has not any such bull run till now but in near future it will definitely give returns.
NOTE – All the views and predictions are from a personal point of view and analysis. You can have a different opinion as well as a different viewpoint. We don’t promote any kind of investment tips and also not responsible for your profit and losses.
