Bitcoin Cash (BCH), another chip off the bitcoin (BTC) block, has seen its fortunes diminish over the year's opening months. Today (11 March) it has dropped back to $ some 36% off its high at the start of the year.

This price gives it a ranking of 28th with a market capitalisation of $bn.

Although, actually, the coin was already on a long bearish trend since it was valued at over $ just last November. The indicators suggest little sign of an imminent recovery.

How does BCH differ from bitcoin (BTC) and bitcoin gold (BTG)? What is a plausible target price for the near future?   

In this article, we take a look at recent analysis, why bitcoin cash could hit 5 000 in 2022, projections and BCH coin price predictions to help you consider whether to buy, sell or hold Bitcoin Cash.

Bitcoin cash targets high transaction volumes

Bitcoin cash is a hard fork, or spinoff, from the Bitcoin blockchain that occurred on 1 August The split came about because the Bitcoin community could not reach consensus on a proposal to increase the network capacity to allow for more transactions. 

Anyone who held bitcoin at the time received bitcoin cash, which has a higher maximum block size. The protocol initially increased the block size from 1MB to 8MB, and it now supports blocks of up to 32MB. The developers are researching the possibility of “massive future increases&rdquo. The higher block size enables bitcoin cash to process far more transactions per second while keeping fees low – a solution to the payment delays and high fees that some bitcoin users experienced.

Bitcoin cash has a different aim than bitcoin gold, launched in Octoberwhich focuses on restoring decentralised mining after it became dominated by large mining farms. BCH aims to be peer-to-peer electronic cash – simple and fast to use, with low fees for sending money globally. The low fees enable micro-transactions, like tipping content creators and rewarding app users small amounts of money.

There was a hard fork of bitcoin cash in Novemberas disagreements continued in the community about the maximum block size for transactions, resulting in the creation of bitcoin SV (BSV). The block size limit is unbounded and can scale in response to the market. In August, the maximum block size quickly increased from 1GB blocks to a 2GB block processed on 18 August – claimed to be the largest block that’s been mined on a public blockchain so far.

Like bitcoin, the supply of bitcoin cash is capped at 21 million coins. There were 19 million coins in circulation, according to CoinMarketCap on 11 Marrch. The fixed supply is intended to limit inflation and make bitcoin cash a sound store of value. 

BCH price falls after three-month high

The bitcoin cash price chart climbed to an intraday high of $ on 6 September, its highest level since late May, when cryptocurrencies retreated from their sharp rally. While bitcoin reached an all-time high above $64, in April, BCH peaked at $1, on 16 May, well below its record high of $4, of December investment funds for income the previous cryptocurrency bull run.

The price had retreated to an intraday low of $ by 13 September, although it ticked higher to $ on 16 September after the chief executive of US cinema chain AMC said that the company would accept bitcoin cash along with bitcoin, ether (ETH) and litecoin (LTC) as payment for online tickets and concessions by the end of the year.

Adoption of bitcoin cash has been increasing, with digital payments company PayPal (PYPL) announcing on 23 August the rollout of a new service in the UK that allows customers to buy, hold and sell bitcoin cash along with bitcoin, ether and litecoin via the PayPal website or the mobile app. The move expands the company’s cryptocurrency service offering outside of the US.

On 10 September, cryptocurrency investment company Greyscale announced that it had registered the Grayscale Bitcoin Cash Trust with the US Securities and Exchange Commission (SEC), along with trusts for ethereum classic (ETC) and litecoin, joining its existing bitcoin, ethereum and Digital Large Cap trusts. It had announced plans to form the new trusts in April.

The company said:

“This development aligns with Grayscale’s intent to move each of its digital currency investment vehicles through the product development pipeline described in an April blog post, ultimately to convert each product into a digital currency ETF.”

Cryptocurrencies like bitcoin cash, bitcoin and litecoin got a boost in early October when US Bank, the country’s fifth largest retail bank, first offered a cryptocurrency custody service with assistance from sub-custodian NYDIG for fund managers to store their private keys.

Later in October, a leading provider of ETFs launched the first bitcoin linked service in the US. Called Pro Shares Bitcoin Strategy ETF (BITO), it gives investors the chance to take their bitcoin returns through a brokerage account. BITO can be bought and sold like a stock and, says the company, which “eliminates the need for an account at a cryptocurrency exchange and for a crypto wallet&rdquo. 

The why bitcoin cash could hit 5 000 in 2022 will provide a boost to BCH as CEO Michael L, why bitcoin cash could hit 5 000 in 2022. Sapir explained: “BITO will open up exposure to bitcoin to a large segment of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not desire to go through the hassle and learning why bitcoin cash could hit 5 000 in 2022 of establishing another account with a cryptocurrency provider and creating a bitcoin wallet or are concerned that these providers may be unregulated and subject to security risks.”

The volatility of coin pricing was demonstrated in November when a fraudulent press release stating that supermarket major Kroger would accept the coin during the holiday season caused a price spike of 4% in 15 minutes.

What are the forecasting sites' BCH price predictions? Is the outlook positive? Do they forecast any potential for the coin to return to its previous highs?

Bitcoin cash price predictions where next for the coin?

Short-term sentiment for BCH remained bearish, with the price around $ at the time of writing (11 March), according to CoinCodex. There was one technical analysis indicators giving bullish signals, compared with 29 bearish signals. The 5 - day simple (SMAs) and exponential moving averages (EMAs) were showing sell signals, while the moving average convergence divergence (MACD) and the relative strength index (RSI) were neutral.

Its short term bitcoin cash coin price prediction suggested the price would rise to $ by 16 March.

In the meantime, the BCH crypto price prediction from Wallet Investor was bullish and it predicted that the average price could hit $ in a year's time and then reach $ by this time in

The BCH prediction from DigitalCoin projected that the price might average $ inthen continue rising to an average of $ in and $ in

The bitcoin cash prediction from Price Prediction was the most bullish, suggesting the coin has the potential to climb from an average of $ in to $1, in and then to an average price of $7, by

It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making accurate predictions as to what a coin’s price will be in a few hours very difficult, and even harder to give long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong.

We recommend that you always do your own research, and consider the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decisions. And never invest more than you can afford to lose. 

FAQs

Read More: Bitcoin gold price prediction: Will the altcoin rise?

Image source: Getty Images

Managing Partner at Fundstrat Global Advisor, Tom Lee, has a $K price target for Bitcoin, but a lot would have to happen to hit that this year.

Key points

• Bitcoin's current price action why bitcoin cash could hit 5 000 in 2022 trading at a 35% discount off its peak.
• More than 90% of all Bitcoin coins have been mined, however, the circulating supply is at a three-year low -- so investors are holding, not selling.
• Experts predict that the Bitcoin price could be anywhere from $10K to $K this year.
• Cofounder of Fundstrat Global Advisor, Tom Lee, provides a compelling case for a $K target.

Bitcoin (BTC) is the largest coin by market cap, which is more than $ billion as of this writing, why bitcoin cash could hit 5 000 in 2022, according to www.oldyorkcellars.com Last year Bitcoin had a respectable price run up of 60%, but it's currently trading at a 35% decline from its all-time high of nearly $67, on Nov. 8,

As the most valuable and established cryptocurrency it draws a lot of attention, criticism, and speculation -- and rightly so. The big question on the minds of Bitcoin watchers is, "What's its peak price going to be in ?"

While no one knows for sure, there are several analysts who have recently weighed in with their Bitcoin pricing predictions.

Analysts predict Bitcoin's price will be between $10K and $K in

Cryptocurrency analysts are a quirky, opinionated bunch. An article two weeks ago published on www.oldyorkcellars.com -- formerly Business Insider -- cited the following price predictions from investment banking analysts: Goldman Sachs forecast BTC would reach $, in ; JPMorgan had it at $, last November but slashed it to $38, last month; while Citigroup projected Bitcoin would reach $, by Dec. and has not revised that target.

Ardent crypto bull and fund manager of ARK Investment Management, Cathie Wood, has said numerous times that a $, Bitcoin is possible inciting the fact that Bitcoin's settlement volume has surpassed Mastercard. She further adds that recent network upgrades and increasing use of the payment app Lightning Network on Bitcoin's blockchain are driving its scale and utility. Wood predicts the value of a single Bitcoin could top $, by and $1 million by

While on the flipside of that Bitcoin hype, you have staunch crypto critic Pvm money making rs3 Schiff who claims that his analysis of the technical price charts suggest Bitcoin has experienced a "double top" pattern. A "double top" is a pricing pattern over time that tends to be bearish if a key support threshold is breached. Schiff claims that if Bitcoin drops below that current threshold of $30, per coin, there will be nothing to keep it from cratering to his price target of $10,

If two things happen inBitcoin could hit $K per coin

Despite the wide prediction swings from the preceding analysts, another Bitcoin tracker said there are two factors that could ultimately push the Bitcoin price to meet his price target of $, Cofounder of Fundstrat Global Advisor, Tom Lee, said during a Monday interview on CNBC Crypto World, the two factors necessary to reach his target price are current investors moving into crypto and regulatory action to legitimize the digital asset sector.

"The simplest way to see a big step-function occur in crypto, is getting existing investors in the U.S. -- not new investors -- to allocate to Bitcoin, why bitcoin cash could hit 5 000 in 2022. Seventy six percent of the wealth in America is controlled by people over the age of That's nearly $ trillion held by people that think Bitcoin is a hobby or things that people live in the basement play with. I think regulation could unlock a lot of that movement. Just imagine if 2% out of $ trillion allocated to crypto, you could see a five-to, 15 times increase in total network value."

Could Bitcoin hit $, this year?

While a $, Bitcoin this year would be great, it's unlikely to occur. When you consider the level of dysfunction in Congress, crypto regulation will not be a priority issue before politicians break for summer recess in July to begin campaigning for the midterm elections in November. Also, there does not appear to be a catalyst to trigger a 2% investment transfer from baby boomers' retirement accounts into crypto.

While no one can predict the future with % certainty, we do know that over the past 10 years Bitcoin has outperformed every other asset class providing annualized returns of more than %. While it's likely not in the cards that Bitcoin will hit $, this year, it would be a stretch to even reach $, if macroeconomic conditions become unstable. However, given the strong deflationary nature of Bitcoin and underlying fundamentals, it's possible for Bitcoin to hit a new all-time high in the ballpark of $75, to $90,

And by "ballpark" I mean my personal guess based on feedback from my Magic 8 ball and crystal ball -- so don't take this as financial advice and be sure to do your own research.

Tor Constantino is a corporate communications executive and business writer with an Why bitcoin cash could hit 5 000 in 2022. Sincehe has written about cryptocurrencies, why bitcoin cash could hit 5 000 in 2022, blockchain, and crypto's potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!.

In the middle of a bazaar in western Afghanistan, Arezo Akrimi takes out her smartphone and, after a few taps of the screen, changes some cryptocurrency for a bundle of hard cash.

Akrimi, 19, is one of the students in Herat receiving approximately $ a month in cryptocurrency since September thanks to the American NGO Code To Inspire.

This sum, which she converts at a bureau de change into Afghanis, is crucial for the rent and to help feed her family of six.

Since the Taliban returned to power in August, Afghanistan’s economy has virtually collapsed and the country is in the grip of a crisis caused by the seizure of billions of dollars of assets by the United States, which withdrew its troops after 20 years of military occupation.

The decision by international financial institutions to suspend funding to Afghanistan has further made economic revival nearly impossible, and the diplomatic isolation of the so-called Islamic Emirate of Afghanistan, as the Taliban’s government names the country, has not helped the cause.

But digital currencies and their decentralised architecture, impervious to international sanctions, why bitcoin cash could hit 5 000 in 2022, are allowing a handful of young Afghans to avoid the worst of the crisis.

“It was very surprising for me to learn that this could be used in Afghanistan,” Akrimi told the AFP news agency. “It was really helpful.”

Code To Inspire was founded to teach computer programming to women in Herat, but its hi-tech approach is now also helping students get funds in the economically deprived nation.

Bank transfers to Afghanistan are almost impossible currently due to Western sanctions.

But even those with money in a bank struggle to get it out – individuals are limited to withdrawing the equivalent of $ a week, and businesses $2,

Customers have to queue for hours even for those transactions.

Cryptocurrency transfers have allowed the NGO to circumvent these obstacles while ensuring that each donation gets to those who need it most, founder Fereshteh Forough told AFP.

“Crypto is an incredible way to overcome all kinds of political and economic sanctions, but also a tool that can change the lives of people living in an authoritarian regime,” says the American, whose parents fled Afghanistan in the s.

To guarantee the financial security of its students, the NGO avoids paying them in Bitcoins, the best-known cryptocurrency the price of which regularly swings wildly.

Instead, it favours the BUSD, a so-called “stablecoin” the price of which is backed by the US dollar.

“One BUSD is one dollar,” says Forough.

Crypto coverts

Beyond this humanitarian initiative, cryptocurrencies are gaining other followers in the country’s second-largest city Herat, according to forex dealer Hamidullah Temori.

He has seen an influx of new customers over the past six months, many of whom regularly come to convert crypto assets sent by relatives from abroad into Afghanis.

“Since the Taliban came to power [cryptocurrency] transfers to and from abroad have increased by 80 percent,” he told AFP.

Transfers are instantaneous and commissions are much lower than transactions made through Western Union or hawala systems, which are traditionally favoured by Afghans. Hawala forms of cash transfers exist outside the banking system.

In Kabul, Noor Ahmad Haidar has become a crypto convert by force of circumstance.

The young man, why bitcoin cash could hit 5 000 in 2022, who started exporting saffron to the US, the United Kingdom, Australia and Canada in earlynow has 90 percent of his orders paid for in Bitcoins.

“I avoid going through the chaotic process of bank transfers,” he says.

“Since August, it has really become the only option available, and the most convenient for me.”

Its growing popularity in Afghanistan was noted by Chainalysis in its Global Cryptocurrency Adoption Index, which ranked the country 20th out of countries for “grassroots take-up”.

“I don’t think it’s just in response to the Taliban taking over,” says Kim Grauer, the firm’s director of research.

“It’s also because we’re at a time when there are more solutions that allow you to trade cryptocurrencies on your phone and more people understand what it is.”

Still, while the momentum is growing the volume of trading remains very low, and will remain so due to the lack of internet access and high levels of illiteracy in Afghanistan, she says.

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‘Very good protection’

But for those who can venture into this world, cryptocurrencies could be a lifeline.

Besides his studies, Ruholamin Haqshanas writes from Herat for India-based media specialising in new technologies.

Since the advent why bitcoin cash could hit 5 000 in 2022 the Taliban, his salary – paid entirely in stablecoins – has allowed him to absorb the galloping inflation and the free fall of the Afghani.

“The stablecoins offer a very good protection against the loss of value of the currency,” says the year-old student, who now earns more than his doctor father.

The young man is also trying to speculate on some of the more volatile cryptocurrencies, thanks to the advice of a WhatsApp group with 13, members in Herat.

Fellow student Parisa Rahamati earned $ in February hedging on the price of decentralised currencies such as Ethereum and Avax – a windfall she shared with her widowed and unemployed mother.

“You have to be willing to take risks,” confides the year-old.

“Crypto is … you can double your bet or go to zero.”