The interest in cryptocurrencies is growing exponentially. An increasing number of people are ready to admit that among all the ups and downs of the world financial market, cryptocurrency has shown itself as a pretty reliable means of payment that is constantly growing in value.
Bitcoin Cash is one of the leading cryptocurrencies. Thus, if you have BCH in your wallet, you might be asking yourself whether it is the right time to use a reliable BCH to BTC converter to finally swap your coins. Don’t hurry, however. Bitcoin Cash is growing in price and may end up being a pretty good investment. A detailed analysis of the Bitcoin cash market position and its price movement forecast will help you to make an informed decision.
Some Facts from the Coin History
Bitcoin Cash was forked from Bitcoin in 2017, and since then, it has never lost its leading positions. While it has never been traded at prices close to those of Bitcoin, it has always been among the top 10 cryptocurrencies in the world.
The highest price the coin managed to reach is 3,643 USD per BCH at the end of 2017, just after the Bitcoin price surged up to 20,000 USD per one coin. Considering that just in August of the same year, one BCH coin was traded at 573 USD, this jump is huge indeed.
Since then, significant price swings were observed. After the surge, the coin price dropped up to 600 USD just to surge again to 1,700 the next month. In 2019, another price drop followed, and one coin was traded at just 258 USD.
At the moment of writing, one BCH is traded at the price of 630.72 USD. And the forecasts are positive.
With a market cap of 11,880,800,000.00 USD and a circulating supply of 18,703,600 BCH, BCH takes the 12th place among the top cryptocurrencies in the world. It is the first time since the coin was launched when BCH leaves the top 10 cryptocurrencies.
The trading volume during the last 24 hours was 2,604,310,000 USD, with the lowest price of 630.77 per coin, and the top price of 651.72 per coin. The BCH price continues growing even though the growth is not as rapid as BCH investors might wish. The price fluctuations within a specific time can be observed on https://letsexchange.io/.
It is expected that by November 2021, the BCH price will grow to the record 2,279 USD per coin. While it is still far from reaching the very top level in coin history, compared to the current price, the coin is going to make significant progress.
However, in December 2021, a significant drop is expected to almost 16% from the November price, with the BCH price dropping to 1,900 USD per one coin.
The bearish trend will be observed until the end of the year with the price drop to around 1,700 per one coin. The bearish trend will be present until February when the BCH price will again surge up to 2,200 USD per coin.