Bitcoin Cash (BCH)

Statistics
Volume | 283711727.93 |
Marketcap | 6696700068.88 |
Avail. Supply | 19828703.13 |
Total Supply | 19828703.13 |
Price of Bitcoin Cash Today – IT dynamic data
BCH Historical Price
2017
Bitcoin Cash launched with an average price of $887.76, reaching a peak of $4,356 and closing the year at $2,533. The cryptocurrency’s market cap averaged $14.3 billion with a notable trading volume of $11.9 billion during its highest moments.
2018
BCH price saw a drastic fall, closing at $157.65 after reaching a high of $3,071. The market cap averaged $14.9 billion, while the lowest price hit $85.02, reflecting a difficult year for the coin.
2019
Its price averaged $261.70 and stabilized somewhat, with a yearly high of $515.63 and a close at $205.00. Market activity remained steady with an average volume of $1.1 billion.
2020
The average Bitcoin Cash price rose to $270.36, with a high of $495.19, and ended the year stronger at $343.17. This period saw a jump in trading volume, peaking at $31.7 billion.
2021
Bitcoin Cash had a notable rise with an average price of $605.18, reaching $1,626 at its highest point but closing lower at $430.30. The market cap averaged $11.4 billion, with a peak volume of $105.7 billion.
2022
BCH price dropped, closing at $96.80, with a maximum price of $450.95 and an average volume of $5.7 billion, indicating a challenging market for BCH.
2023
Prices rebounded slightly, averaging $179.13, peaking at $325.19, and closing at $260.35. The market cap remained at $3.5 billion with trading volumes reaching $11.7 billion.
2024
Bitcoin Cash price continued to improve, with a high of $717.60 and a year-end close of $316.09. Trading volumes and market activity remained healthy with an average cap of $7.7 billion.
Bitcoin Cash to Local Currency – IT dynamic data
About Bitcoin Cash
What is Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) is a cryptocurrency that was created as a fork of Bitcoin (BTC). It was developed to address some of Bitcoin's perceived limitations, particularly regarding transaction speed and scalability.
Purpose
Bitcoin Cash aims to serve as a peer-to-peer electronic cash system, enabling fast and low-cost transactions. It seeks to be more effective for everyday transactions compared to Bitcoin, which has become more of a store of value.
Block Size
One of the important changes in Bitcoin Cash is the increased block size. While Bitcoin's block size is 1 MB, Bitcoin Cash initially increased this to 8 MB and later to 32 MB, allowing more transactions to be processed in each block.
Transaction Speed and Fees
Bitcoin Cash can support 25,000 transactions per block compared with Bitcoin’s 1,000 to 1,500 per block. Additionally, as of March 2022, the maximum block size for BCH was increased fourfold to 32 MB.
Compatibility
Bitcoin Cash shares the same transaction history as Bitcoin up until the fork. After the fork, Bitcoin Cash transactions are recorded on a separate blockchain.
Who Founded Bitcoin Cash?
The key figures and groups involved in the creation of Bitcoin Cash include:
Bitmain, a major cryptocurrency mining company, Bitmain, and its co-founder Jihan Wu, played an important role in the development and promotion of Bitcoin Cash.
Bitcoin ABC (Adjustable Blocksize Cap) is the main software implementation of Bitcoin Cash. Developers working on Bitcoin ABC were instrumental in launching Bitcoin Cash.
What Makes Bitcoin Cash Unique?
Bitcoin Cash (BCH) distinguishes itself from Bitcoin (BTC) and other cryptocurrencies through several unique features:
Larger Block Size
Bitcoin Cash's most notable feature is its larger block size. Initially, BCH increased the block size limit to 8 MB and later to 32 MB, compared to Bitcoin's 1 MB. This allows BCH to process more transactions per block, leading to faster transaction times and lower fees.
Scalability
By increasing the block size, Bitcoin Cash aims to solve Bitcoin's scalability issues. BCH can handle a higher transaction volume, making it more suitable as a cryptocurrency for everyday use.
Focus on Payments
Bitcoin Cash emphasizes its use as a payment system rather than a store of value, which has become Bitcoin's primary role. BCH aims to be a functional currency for everyday transactions.
Community and Vision
The BCH community is committed to the original vision of Bitcoin as outlined by Satoshi Nakamoto in the Bitcoin whitepaper. They prioritize decentralization, fast transactions, and low fees.
Development Roadmap
Bitcoin Cash has a proactive development community working on continuous network improvements and upgrades. This includes features like Schnorr signatures for enhanced privacy and efficiency and other scaling solutions.
Bitcoin Cash Network Security
Proof of Work (PoW)
Like Bitcoin, Bitcoin Cash uses the Proof of Work consensus algorithm. Miners solve complex mathematical puzzles to validate transactions and add them to the blockchain. This process requires computational power, making it difficult for malicious actors to alter the blockchain.
Hashrate and Mining
The BCH network is security largely depends on its hashrate, the total computational power dedicated to mining BCH. A higher hashrate enhances the network's resistance to attacks, such as the 51% attack, where a single entity gains control of most of the network's mining power.
Difficulty Adjustment Algorithm (DAA)
Bitcoin Cash uses a difficulty adjustment algorithm to maintain a consistent block generation time (approximately 10 minutes per block). This algorithm adjusts the mining difficulty in response to changes in the network's hashrate, ensuring the blockchain remains secure and blocks are produced regularly.
Replay Protection
After the fork from Bitcoin, Bitcoin Cash implemented replay protection to prevent transactions from being valid on both blockchains. This security feature ensures that transactions are only valid on the BCH network, not on the Bitcoin network, protecting users from double-spending issues.
Development and Upgrades
The Bitcoin Cash development community actively works on network upgrades and security enhancements. This includes implementing new features, fixing bugs, and addressing potential vulnerabilities. Regular updates ensure the BCH network remains secure and resilient against emerging threats.
Schnorr Signatures
Bitcoin Cash has implemented Schnorr signatures, which provide more security and efficiency. Compared to traditional ECDSA signatures, Schnorr signatures offer better privacy, reduced transaction size, and improved resistance to certain attacks.
Bitcoin Cash vs Bitcoin
Bitcoin (BTC) and Bitcoin Cash (BCH) are two separate cryptocurrencies that originated from a common blockchain, Bitcoin.
Origins | Scalability | Block Size (MB) | Community and Adoption | Favors on-chain scaling? | |
Bitcoin (BTC) | Created in 2009 by Satoshi Nakamoto | Limited scalability; 1 MB block size limit | 1 | Larger and more established community; widely accepted by merchants | True |
Bitcoin Cash (BCH) | Emerged in 2017 as a hard fork from Bitcoin | Aimed at addressing scalability issues; increased block size limit | 8 | Smaller community compared to BTC; adoption varies | False |
How to Buy BCH?
- Select a reputable cryptocurrency exchange that supports Bitcoin Cash. Some popular options include Coinbase, Binance, Kraken, and Bitfinex.
- Sign up for an account on your chosen exchange. You'll typically need to provide some personal information and verify your identity.
- Deposit fiat currency (like USD, EUR, etc.) or other cryptocurrencies (like Bitcoin) into your exchange account.
- Navigate to the trading section of the exchange and place an order to buy Bitcoin Cash. You can specify the amount of BCH you want to purchase and the price at which you're willing to buy.
- Once your order is filled, the Bitcoin Cash will be credited to your exchange account.
- For added security, consider withdrawing your Bitcoin Cash to a personal cryptocurrency wallet that you control.
How to Mine BCH?
Mining Bitcoin Cash involves using computer hardware to solve complex mathematical puzzles, which validate and secure transactions on the Bitcoin Cash network.
Get the Right Hardware
Bitcoin Cash mining typically requires specialized hardware called ASIC miners (Application-Specific Integrated Circuit). These miners are specifically designed to perform the calculations needed to mine BCH efficiently.
Choose Mining Software
Select mining software compatible with your hardware. Some popular options include CGMiner, BFGMiner, and EasyMiner.
Join a Mining Pool (Optional)
Mining solo can be challenging due to the high level of competition. Joining a mining pool allows you to combine your resources with other miners to increase your chances of successfully mining Bitcoin Cash. Some popular mining pools for BCH include Antpool, BTC.com, and ViaBTC.
Configure Your Mining Setup
Set up your mining hardware and software according to the instructions provided by the
manufacturer and the mining pool you've joined.
Start Mining
Once everything is configured correctly, start your mining software to begin the mining process. Your hardware will start solving mathematical puzzles, and if successful, you'll be rewarded with Bitcoin Cash.
Monitor and Maintain
Keep an eye on your mining operation to ensure everything is running smoothly. You may need to adjust settings or perform maintenance tasks periodically.
Bitcoin Cash Investment Risks
Competition
The cryptocurrency market is teeming with established players like Bitcoin and Ethereum, along with new contenders emerging all the time. BCH needs to effectively compete for user adoption and market share.
Technological Uncertainty
The technology behind BCH is still evolving. While upgrades can improve the network, there's always a risk of unforeseen technical challenges or security vulnerabilities.
Regulation
Government regulations on cryptocurrencies are still evolving and could potentially impact BCH's usability or value. Unfavorable regulations could hinder its growth.
Limited Adoption
Widespread acceptance from merchants and consumers as a payment method is crucial for BCH's long-term success. Limited adoption could restrict its use and hinder price appreciation.
Security Risks
Cryptocurrency exchanges and wallets can be vulnerable to hacking or theft. Ensure you choose a reputable platform to store your BCH and implement strong security measures.
Community Divisions
Disagreements within the BCH developer community can lead to forks or splits in the network, potentially impacting its stability and value.
Scalability Concerns
While BCH's block size increased compared to Bitcoin, some argue it might not be enough to handle significant future growth and maintain efficiency.
FAQ About Bitcoin Cash Price
What is the current price of Bitcoin Cash (BCH)?
The price of Bitcoin Cash fluctuates in real-time. You can check the live price on most cryptocurrency platforms.
What was the highest price Bitcoin Cash has reached?
In May 2021, Bitcoin Cash hit an all-time high of approximately $4,356.
Why did Bitcoin Cash's price drop in 2018?
Bitcoin Cash experienced a market-wide downturn in 2018, which affected most cryptocurrencies, including BCH, with a significant price drop.
How has Bitcoin Cash’s price changed in 2023?
In 2023, Bitcoin Cash traded between $3.67 and $8.23, with the price closing at around $260.35 by the end of the year.
What was Bitcoin Cash's lowest price?
The lowest recorded price for Bitcoin Cash was in 2018, when it dropped to approximately $85.02.
How does Bitcoin Cash price compare to Bitcoin?
Bitcoin Cash's price has historically been lower than Bitcoin due to different use cases and levels of adoption.