Bitcoin Cash Price
BCH
Bitcoin Cash Price in
About Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a decentralized digital currency that emerged as a result of a hard fork from the original Bitcoin network in August 2017. The fundamental motivation behind the creation of the Bitcoin Cash blockchain was to address certain limitations of Bitcoin, particularly related to scalability and transaction fees.
Bitcoin Cash was developed by a group of Bitcoin miners and developers who were concerned about the increasing congestion on the Bitcoin network. They believed that larger block sizes could alleviate the scaling issues, allowing for transactions to be processed quickly and at lower fees.
To achieve this, Bitcoin Cash increased the block size limit from 1MB to 8MB initially, and later increased it further to 32MB. This larger block size enables more transactions to be included in each block, resulting in faster and cheaper transactions compared to Bitcoin.
2017
Bitcoin Cash was initially priced at around $300 per coin. However, the price quickly rose to over $2,500 per coin in December 2017, as investors became more interested in the cryptocurrency. The Bitcoin Cash price peaked at a highest price of $4,355.62 on December 20, 2017.
2018
The price of Bitcoin Cash fell sharply in 2018 as the entire cryptocurrency market experienced a bear market. The Bitcoin Cash price fell from over $3,700 per coin in December 2017 to about $150 per coin in December 2018.
2019
The price of Bitcoin Cash remained relatively stable in 2019, trading between $200 and $300 per coin for the most part. However, the Bitcoin Cash price did experience a brief rally in June 2019, when it reached a high of over $479 per coin.
2020
Bitcoin Cash’s value experienced a sharp decline in 2020, as the global economy was affected by the COVID-19 pandemic. The Bitcoin Cash price fell from over $490 per coin in February 2020 to about $150 per coin in March 2020.
2021
Bitcoin Cash had a strong rally in 2021, as the entire cryptocurrency market experienced a bull market. The Bitcoin Cash price rose from below $450 per coin in January 2021 to over $1,500 per coin in May 2021.
2022
The Bitcoin Cash price slowly declined throughout 2022 for many reasons, including rising inflation rates, the emergence of competing blockchains that promise more features, and its stance in the market as a "Bitcoin copy" rather than a substitute.
2023
The Bitcoin Cash price hovered between $96 and $144 throughout 2023, before experiencing a sharp increase to its yearly high at $305 towards the end of June.
The primary goal of Bitcoin Cash is to be a peer-to-peer electronic cash system that allows for fast, reliable, and inexpensive transactions. By focusing on larger block sizes and lower fees, Bitcoin Cash aims to provide a viable alternative to traditional payment systems and position itself as a practical digital currency for everyday transactions.
Bitcoin Cash utilizes a consensus mechanism called Proof of Work (PoW) to validate transactions and maintain the blockchain. This mechanism ensures that all participants on the network agree on the state of the Bitcoin Cash blockchain and prevents double-spending or tampering with past transactions.
Another significant difference between Bitcoin and Bitcoin Cash is their approach to the use of Segregated Witness (SegWit). Bitcoin Cash did not implement SegWit, which is a technology designed to increase the transaction capacity of Bitcoin by removing certain data from the transaction block. Bitcoin Cash proponents argue that increasing the Bitcoin Cash block size is a more straightforward and effective solution to scaling the network.
There is no single person or founder who created Bitcoin Cash. The cryptocurrency was created in August 2017 and is a fork of the Bitcoin blockchain. The Bitcoin hard fork was caused by a disagreement within the Bitcoin community about the future of the network, with some arguing that the block size should be increased to allow for more transactions per second.
The leading proponents of increasing the block size in the Bitcoin Cash community were Bitcoin developers Roger Ver, Jihan Wu, and Gavin Andresen. Ver is a well-known Bitcoin advocate and investor, Wu is the CEO of Bitmain, one of the largest mining companies in the world, and Andresen is a former lead developer of Bitcoin.
Bitcoin Cash is designed to be a digital currency that can be used for everyday transactions. It has a larger block size than Bitcoin, which allows it to process a greater number of transactions per second. This makes Bitcoin Cash more suitable for use as a currency for daily transactions. Bitcoin Cash also has lower fees than Bitcoin, which makes it more affordable to use.
- Larger Block Size: Bitcoin Cash can accommodate more transactions in each block. This results in faster transaction confirmations and potentially lower fees compared to Bitcoin.
- Emphasis on Low Fees: Bitcoin Cash aims to be a practical digital currency for everyday transactions (micro-transactions) by prioritizing micro fees. By increasing the block size and allowing more transactions to be processed per block, Bitcoin Cash seeks to keep transaction costs relatively low, making it more suitable for small, frequent transactions.
- Scalability Solution: Bitcoin Cash offers an alternative approach to scalability compared to Bitcoin. Rather than implementing technologies like SegWit or Lightning Network, Bitcoin Cash proponents believe that increasing the block size is a more direct and effective way to scale the network. This emphasis on on-chain scaling sets Bitcoin Cash apart from Bitcoin.
- Controversial Fork: The creation of Bitcoin Cash sparked significant debate and differing viewpoints within the cryptocurrency community, leading to ongoing discussions about the future direction of both Bitcoin and Bitcoin Cash.
Mining Bitcoin Cash involves using specialized computer hardware to solve complex mathematical puzzles, which helps validate transactions and secure the network. Here's a general overview of the mining process:
- Obtain mining hardware
- Choose a mining pool (optional)
- Set up mining software
- Configure mining settings
- Start mining
BCH is not a Proof of Stake cryptocurrency. But, some crypto exchanges allow you to stake the token. If you're interested in staking Bitcoin Cash, it's recommended to research and find trusted platforms or exchanges that provide staking services for BCH.
BCH Price Performance
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More FAQs about Bitcoin Cash (BCH)
The price of Bitcoin Cash is determined by factors such as supply and demand, market sentiment, regulatory developments, and the adoption of blockchain technology. Price fluctuations can also occur in response to large transfers of the asset in a short time period.
The all-time high of Bitcoin Cash is $4,355.62, which was reached on December 20, 2017.
The all-time low of Bitcoin Cash is $75.08, which was reached on December 15, 2018.
The maximum supply of Bitcoin Cash (BCH) is 21 million BCH (the same as that of BTC). BCH also follows the same halving schedule as BTC. Therefore, there are currently over {{circulating_supply}} BCH in circulation, and the last BCH will be mined in the year 2140.
You can buy Bitcoin Cash directly via MoonPay or through one of our many partner wallets, such as Trust Wallet and Exodus. MoonPay’s simple widget makes it easy to buy BCH with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more payment methods.
You can also top up your wallet in euros, pounds, or dollars and use your MoonPay Balance to purchase crypto like Bitcoin Cash. Once funded, use your balance for faster, cheaper transactions with higher approval rates. When you're ready to withdraw, enjoy zero-fee BCH transfers straight to your bank account when you cash out via bank transfer.
MoonPay makes it easy to sell Bitcoin Cash when you decide it's time to cash out your crypto.
Simply enter the amount of Bitcoin Cash (BCH) you'd like to sell in the MoonPay widget and enter the details where you want to receive your funds.
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