Bitcoin Cash Price Prediction 2021 – Will BCH Price Hit Above $1K in 2021?

This Bitcoin Cash (BCH) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our BCH price analysis and prediction.

The cryptocurrency market has started to surge again. There are many virtual assets that surged to a new all-time high during the recent 2021 bull run. In contrast, some digital assets had shown a downtrend as well. As a result, many digital asset investors and traders are confused about whether it is time to hold or sell the digital asset for a good price. This is the same case for BCH.

Nevertheless, the crypto market is consolidating lately, and most digital assets are losing their previous profits. Is the scenario the same with the BCH price? We’ll find out shortly in this BCH price analysis 2021 article. But first, let’s have a quick background on what BCH is.

What is Bitcoin Cash (BCH)?

Bitcoin Cash (BCH) has regained its position as one of the top 15 cryptocurrencies in terms of market capitalization. This may have happened because of the mass buying that we saw from crypto traders.

Bitcoin Cash was a fork of Bitcoin as a result of a chain split. However, BCH was formed when a group of Bitcoin developers became dissatisfied with Bitcoin’s overall scalability direction.

Now that we already have an idea about Bitcoin Cash, do you think BCH will be profitable crypto in 2021? Are you already interested to know? Therefore, join me and let us check the charts in this BCH price analysis and price prediction for 2021.

Bitcoin Cash (BCH) Current Market Status

Bitcoin Cash is one of the most prominent crypto assets in the market today. In fact, crypto was able to record a huge growth rate of over +40% in the past three months. For this reason, BCH has become one of the most talked-about digital assets in the crypto world.

In terms of its market standing, crypto stands itself as one of the most aggressive cryptocurrencies in CoinGecko. As a result, BCH price trades at $528 with a 24-hour trading volume of $3,198,836,987.

Now that you already have an idea about what Bitcoin Cash cryptocurrency is, do you think Bitcoin Cash is a good investment this year? If you are ready to know, come let us check together this Bitcoin Cash price prediction and price analysis article.

Bitcoin Cash Price Analysis 2021

Currently, BCH holds 14th place on CoinGecko. But will the recent upgrades, development, and changes in the blockchain help the digital asset price to reach higher? Let’s proceed to the charts in this BCH price prediction article.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel pattern. An ascending channel is the price action occurring in an upward direction through a sloping parallel line. Also, the chart displays the Higher highs and higher lows from this price pattern. More so, this pattern represents a short-term bullish.

As shown above, at the beginning of this month, BCH turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is at 56.39, which means that BCH is in a nearly overbought state. However, at any given time this may proceed to a price reversal. 

Therefore, crypto traders must trade wisely and must not be affected by the market hype. Considering all this, traders can be cautious and move away from unexpected losses due to the crypto market’s huge wild swings.

Let us also see the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of BCH.

Since the start of 2021, BCH’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away. Taking this into consideration, BCH has a competitive market this 2021.

Bitcoin Cash Price Prediction 2021

As shown below in this BCH price forecast chart, in a smaller time frame, BCH has shown a bullish uptrend.

In the above BCH price forecast, BCH might push the BCH price to a bullish state. More so, in the short-to-mid term scenario for our 2021 BCH price prediction, BCH has to break the previous Fib retracement level at $1,047. To do this, it has to establish more support at the Fib level at $860. If not, bears may gain the upper hand and drag Bitcoin Cash to their territory.

Bitcoin Cash Price Prediction 2022

If BCH’s bullish trend continues, BCH will reach $1,200 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $1,500. Then this rise will decrease, but no major falls are expected. With upcoming partnerships, and developments reaching $1,200 is quite optimistic in the price point of view but undoubtedly feasible for the near future. This indicates that BCH has a high possibility of reaching a new ATH soon.

Bitcoin Cash Price Prediction 2023

The price of BCH can move even great heights, however reaching $2,000. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency BCH breaks past the psychological resistance level.

Bitcoin Cash Price Prediction 2024

As per the latest upgrades, developments, BCH price prediction, and new project forecasts of the platform the price surges. Moreover, this might boost the price of BCH in the crypto market, and it will be the best investment as the price can spike and reach around $3,500.

Bitcoin Cash Price Prediction 2025

In the next four years, BCH prices could rise up to $5,000. However, reaching this level could not be so difficult for BCH as additional medium, short-term, and long-term price targets could be found to purchase or sell orders.

Conclusion

BCH has a great future ahead of it in 2021. With ongoing developments happening within the BCH ecosystem, as well as in the overall crypto market, we may see BCH reach new heights. The bullish price prediction of BCH is $1,047.

Meanwhile, our long-term BCH price prediction for 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $3,785 by 2021 to 2024. However, that will only happen if it breaks past a number of psychological resistances.

Also, if investors have decided that BCH is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/bitcoin-cash-bch-price-prediction-2021/