The current price of Bitcoin Cash (BCH) fluctuates around $186; the total market capitalization is $3,395,983,341, which makes BCH the 5th most popular digital currency as of December 2019. The circulating supply is 18,187,875 BCH. The daily trading volume is around $1,779,736,458.
The all-time high of Bitcoin Cash, $4,355.62, was reached in January 2018. The estimated ROI (return on investment) of BCH is 268,60%, which means that $100 worth of BCH bought at the time of the Bitcoin Cash launch would yield $269 today.
Starting from $200 at the time of its creation in August 2017, already by December, BCH peaked at $4300. A dynamic history of BCH included even a drop to $75 – below the original coin price. Currently, Bitcoin Cash trades for $186,74 per coin.
When the altcoin was introduced in August 2017, the price was already at a $200 level. By the end of the same month, the price went up to $550, and BCH reached a market capitalization of $9 billion. The sharp peak was induced by elevated activity of both miners and traders. Subsequently, a correction took place, which lowered the price by 30%. However, it did not take long for another growth phase to begin in November. Listing on major exchanges, the release of official software and the emergence of a general bullish trend on the market contributed to a rapid increase in BCH price up to $1000, and later to its historic high. At the time, market capitalization exceeds $70 billion.
However, already in January, the price collapsed down to $2600, and later, during the general cryptocurrency market recession, to $700 and lower. What followed was a hard fork, a hash rate war with Bitcoin SV, and a drop to $75 per 1 BCH, which became a historic low. In March 2019, when Bitcoin Cash started to rise again together with the rest of the market, a double-spending attack took place, which led to a loss of $1.5 million. In fact, the attackers took advantage of the system vulnerability and launched a whole alternative chain. Due to miners’ uncertainty, a severe crash occurred, and for some time, the system did not work at all. To bring Bitcoin Cash back to normal, two large mining pools combined the hash rate and conducted a planned 51% attack, which rolled the system back. Although this helped stabilize the situation, some questions regarding the decentralization of Bitcoin Cash emerged.
Despite the turbulent history, Bitcoin Cash (BCH) is currently popular among traders, miners, and large investors; some large corporations make use of its technology. Moreover, due to a limited issue, BCH is relatively protected from inflation.
Bitcoin Cash (BCH) has recently gone through a series of significant technological changes, which may strengthen its position in the future. Even though it is unlikely to replace Bitcoin anytime soon, the forecasts tend to be somewhat positive, with the possibility of reaching a $1000 mark in the next few years. It is even more likely if Bitcoin Cash manages to increase attack resistance and network bandwidth and reduce transaction time. Read more
What is Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is the first and most successful Bitcoin fork and one of the most notable cryptocurrencies in the industry. It was long present in the Top-3 cryptocurrencies in terms of market capitalization, but over the past year was displaced to the 6th position. The concept behind Bitcoin Cash, launched in 2017, was to provide a scalable and convenient alternative to Bitcoin. In 2018, the initial coin split into Bitcoin Cash and Bitcoin SV.
In terms of the primary characteristics, BCH is pretty similar to the “maternal” currency: it is implemented in the C++ programming language, utilizes the SHA-256d hash algorithm and Proof-of-Work (PoW) consensus mechanism. However, as it was conceived as a coin suitable for day-to-day transactions, the block size of BCH was increased from 1 to 8 Mb. This improvement has led to faster transactions, solving one of the significant issues of Bitcoin. Thus, BCH was immediately listed on all major exchanges and got to the peak price shortly after its creation.
Bitcoin Cash (BCH) Wallet
Manage your crypto wisely! Learn how to setup Atomic Wallet to send, receive, exchange and buy cryptocurrency.