Although much of the cryptocurrencies have received good predictions about their price by 2020, little has been said about Bitcoin Cash. However, this does not mean that Bitcoin’s most famous fork will have a bad year.
Like most altcoins, Bitcoin Cash performance is expected to improve this 2020. Although there are not so many positive predictions regarding the price of BCH compared to BTC, ETH or XRP, you cannot ignore what that this new decade has to offer to the cryptocurrency.
First, it is important to remember that after the internal Hard Fork that Bitcoin Cash had, many people preferred to leave the cryptocurrency until it stabilized. However, after the digital currency stabilized, customers returned to it.
The benefits of BCH far exceeded the obstacles it may have presented. And, currently, there is a renewed optimistic sentiment, as Bitcoin Cash is in a bullish rally.
But what does this well-known cryptocurrency hold for this 2020? Well here are some answers.
2020: Year of opportunities?
First, this year will happen one of the most anticipated events by the crypto community: the halving Bitcoin Although this will mainly affect the most popular cryptocurrency of all, that does not mean that the others will not feel its consequences as well.
The reason for this is that the bifurcations of BTC, having once belonged to this digital currency, can also be affected by changes such as those posed by the halving
In addition, this will be one of the first halvings where you can see the impact on the big bifurcations of Bitcoin. Although it is not known exactly how much it will affect them, it is known that it will be something positive. Since the cryptocurrencies in question usually follow the behavior in the price of the leader.
With regard to prices, opinions are quite varied. There are some extremely optimistic predictions and others that, on the contrary, believe that Bitcoin Cash will have a negative performance.
One of the predictions, that of Longforecast, ensures that the price of BCH will reach $ 568 by the end of 2020. What turns out to be an increase, although not as marked, if enough to make a noticeable difference.
Another analyst, the portal Coinfan, has a more optimistic proposal. For them, the maximum of BCH this year will be $ 6314. This prediction may be too optimistic for many; It can even be considered as the very unlikely. But, in the crypto market anything can happen.
Even a few months ago, Bitcoin Cash enthusiast Roger Ver said that the cryptocurrency would have «Easily massive profits of almost 100,000 percent».
Finally, the analysis site WalletInvestor, believes that the price of the cryptocurrency will see a decline this 2020, reaching 165 dollars.
At the time of writing the article, the price of Bitcoin Cash was around $ 446, according to CoinMarketCap. Currently, the cryptocurrency is in a bullish rally, so the majority of the crypto community is inclined to accept positive predictions about its performance in 2020. However, it is important to remember that, due to volatility, these situations may change. from one moment to another.
That is why, at least for now, it remains only to wait and observe the development of the cryptocurrency during the year.
I am a student of International Studies, interested in new technologies and their impact on the world. Faithful believer that tenacity is the basis of success.