MarketPredictionPrice Analysis

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

  • Bitcoin Cash (BCH) is a digital currency that is a fork of Bitcoin.
  • Bullish BCH price prediction for 2021 is $608 – $986.
  • BCH bearish market price prediction for 2021 is $179.

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

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 have an idea about Bitcoin Cash, do you think BCH will be profitable crypto in 2021? Are you curious to find out already? Join me and let us see the charts in this BCH price prediction.

BCH Current Market Status

At the time of writing this Bitcoin Cash technical analysis, BCH is at $523 with a 24-hour trading volume of $2.3 million. The price has lowered by (-4.67 %) in the last 24 hours.

BCH has a current circulating supply of 18.6 million. The total maximum supply of BCH is 21 million. Currently, the top crypto trading platforms for BCH are Binance, Huobi Global, OKEx, Bybit, and BitZ.

Now, let’s proceed to the next part of this BCH  technical analysis for 2021.

Bitcoin Cash Price Prediction 2021

Currently, Bitcoin Cash holds 12th place on CoinGecko. Will the recent development and changes in the blockchain help the BCH price to reach higher? Let’s proceed to the charts in this BCH price prediction article.

BCH price prediction
BCH/USDT chart showing Symmetrical Triangle pattern (Source: TradingView)

In the smaller time frame in the chart above, we can see the Symmetric Triangle pattern. This pattern shows a period of consolidation that may lead to a price breakout or breakdown. A breakdown from the lower trendline represents the beginning of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.

As shown above, at the beginning of this month, BCH turned its bearish position to a bull trend. One reason to consider, the high trade volume that occurred in that period.

Bch price prediction 2021
BCH Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is at 46.79, which means that BCH is still in the neutral  state. Therefore, crypto traders can still expect a normal trading experience without worrying about any major price reversal. However, crypto traders must be cautious and move away from market hype to avoid unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA).

BCH 30-day SMA and 50-day EMA (Source: TradingView)

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 consolidation, fluctuations, and corrections right away. Taking this into consideration, BCH has a competitive market this 2021. Moreover, some crypto experts say that March will be altcoins season.

BCH Price Prediction Chart Showing Head and Shoulder Pattern

As shown below in this BCH price forecast chart, in a smaller time frame, BCH has shown a Head and Shoulder Pattern.

BCH/USDT Head and Shoulder pattern (Source: TradingView)

The head and shoulders pattern indicates a specific chart formation that predicts a bullish-to-bearish trend reversal. Moreover, the pattern is one of the most reliable trend reversal patterns.

In the short-to-mid term scenario for our BCH price prediction 2021, BCH has to break past the resistance level at $986. To do this, it has to establish more support at the Fib level at $718. If not, BCH might not reach the bullish price of $986.65.

Meanwhile, our long-term BCH price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) price of $4,355 this year. However, that will happen only if it breaks past a number of psychological resistances.

Conclusion

Bitcoin Cash has a bright 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.

Bullish BCH price prediction 2021 is $986. As said above, it may even reach $4,355 if investors continue to side with BCH this year along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is BCH?

Bitcoin Cash (BCH) is a digital asset that is a fork of Bitcoin. Moreover, BCH shares much of Bitcoin’s fundamental workings.

How to Buy BCH Tokens?

Users can obtain BCH tokens by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.

Is BCH worth buying?

Bitcoin Cash’s native asset BCH is a good investment in 2021. However, traders and investors need to take extra care when trading in cryptocurrencies, as these are extremely volatile.

Will BCH price hit above $1K in 2021?

Yes, as per the current trend it is very much possible that BCH hit $1K before 2021 ends.

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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Jesus

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.

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