What is Bitcoin Cash (BCH)? Future Trends and 2024 Halving Price Analysis

Introduction to Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is a public blockchain network and cryptocurrency, often referred to as the "sister coin" of Bitcoin (BTC). It emerged from a hard fork of Bitcoin in 2017, aiming to address scalability issues by increasing block size.

Key features of BCH:

• Decentralized peer-to-peer electronic cash
• Low transaction fees (compared to BTC)
• 32MB block size (vs. BTC's 1MB)
• SHA-256 mining algorithm (same as BTC)

👉 Discover how BCH compares to other top cryptocurrencies

The Birth of Bitcoin Cash: Why the Fork?

Background

Bitcoin's 1MB block size led to:

• Slow transaction confirmations
• High fees during peak usage
• Limited adoption for everyday payments

The Hard Fork (August 2017)

Led by developer Amaury Séchet, the BCH team:

1. Increased block size to 8MB (later upgraded to 32MB).
2. Maintained Bitcoin’s core principles but prioritized transaction efficiency.

Key Difference:

• BTC: "Digital gold" (store of value).
• BCH: "Digital cash" (medium of exchange).

BCH vs. BTC: A Detailed Comparison

| Feature | Bitcoin Cash (BCH) | Bitcoin (BTC) |
|------------------|--------------------------|----------------------|
| Launch Year | 2017 | 2009 |
| Block Size | 32MB | 1MB |
| Founder | Amaury Séchet & Team | Satoshi Nakamoto |
| Max Supply | 21 million | 21 million |
| Consensus | Proof-of-Work (PoW) | Proof-of-Work (PoW) |
| Halving Cycle| Every 4 years | Every 4 years |

👉 Trade BCH with low fees and high liquidity

Bitcoin Cash’s Future Outlook

Strengths

• Fast payments: Ideal for merchants.
• Growing ecosystem: 2024 upgrade introduced CashTokens (similar to Ethereum’s ERC-20) and smart contracts.
• TVL Growth: Total Value Locked (TVL) rose from $1M (2023) to **$9M** (2024).

Challenges

• Competition: Faces rivals like Ethereum, Solana, and Avalanche in DeFi.
• Adoption: Needs broader merchant acceptance.

2024 Halving (April 5):

• Reduced block rewards may increase scarcity.
• Historical halving events often precede bull runs.

BCH Price Analysis: Key Trends

Historical Performance

• 2017: Peaked at $4,300 during crypto bull run.
• 2021: Reached $1,500 but underperformed BTC.
• 2024: Trading near $330 (resistance level).

2024 Forecast

• Q2: Potential breakout post-halving.
• Year-End: Could target $1,500 if牛市 continues.

Is Bitcoin Cash a Good Investment?

Pros

• Low entry price: Affordable vs. BTC.
• Halving catalyst: Potential price surge.
• 220M+ addresses: Strong holder base.

Cons

• Lower adoption: Trails BTC in payments.
• Ecosystem lag: Behind Ethereum in DeFi.

Verdict: High-risk, high-reward for speculative investors.

How to Invest in Bitcoin Cash

Options for Taiwanese Investors:

1. Cryptocurrency Exchanges

   • Buy/sell BCH directly (e.g., OKX, Binance).
   • Pros: High liquidity, easy access.

2. Mining

   • Join BCH mining pools.
   • Cons: High hardware/energy costs.

3. CFD Trading

   • Trade BCH price movements without owning coins.
   • Platforms: Mitrade (ASIC-regulated).

FAQs About Bitcoin Cash

1. Will BCH surpass BTC?

Unlikely due to BTC’s first-mover advantage, but BCH excels in low-cost transactions.

2. What drives BCH’s price?

• Bitcoin’s market trends.
• Halving events.
• Adoption by merchants.

3. Is BCH secure?

Yes, it uses Bitcoin’s proven SHA-256 algorithm.

4. Can I stake BCH?

No, BCH is PoW-based (mining only).

👉 Start trading BCH today

Conclusion

Bitcoin Cash remains a viable payment-focused cryptocurrency with a loyal community. While its 2024 halving and ecosystem upgrades could spur growth, investors should weigh its risks against BTC and newer Layer 1 blockchains.

Disclaimer: Cryptocurrency investments are volatile. Conduct independent research before investing.