Bitcoin Cash Price Prediction 2023 – 2030: Will BCH reach $1,000?

The price of Bitcoin Cash (BCH) is influenced by a myriad of factors, both internal to the BCH community and external, linked to the broader crypto market and global economic conditions. Here are the primary factors affecting its valuation.

Timeline of Bitcoin-cash

Crypto whales have been capitalizing on the recent industry swings and positive macro events to scoop some altcoins for potential gains in October 2023. On-chain analysis beams the spotlight on 3 mega-cap cryptocurrencies that are whales buying.

The price of Bitcoin Cash has experienced significant rise over the course of the last 30 days, resulting in favorable returns for investors. Since July, BCH holders have continuously maintained a positive perspective, which has reduced the frequency of selling activity.

Bitcoin cash started a strong increase above the $210 and $220 levels against the US Dollar. The price is now trading above the $220 zone and the 55 simple moving average (4 hours).

Bitcoin cash started a strong increase above the $200 and $210 levels against the US Dollar. The price is now trading above the $210 zone and the 55 simple moving average (4 hours).

Following the 200% jump in BCH price in June 2023, the Bitcoin Cash price reached the height of $300. However, facing extreme selling pressure at higher levels, the Bitcoin Cash price is undergoing a short-term correction, leading to a significant downfall. Currently, Bitcoin Cash is bouncing between two key Fibonacci levels: 61.80% and 38.20%.

August was a bearish month for the cryptocurrency market. This was noticeable in the case of both Bitcoin (BTC) and various altcoins, which have experienced significant decreases since their yearly highs in July.

Litecoin was down by as much as 5% during Friday's session, as markets reacted to the nonfarm payrolls report from the United States. 187,000 jobs were added to the economy in August, compared to the revised sum of 157,000 in July. Bitcoin cash also slipped, extending recent losses.

Recently, Bitcoin Cash (BCH) and other major altcoins are marking an upward trajectory in their exchange values, thanks to a recent announcement indicating a favorable decision by the US federal appeals court.

Bitcoin cash (BCH) was one of Wednesday's biggest gainers, as markets remained jubilant following the Grayscale court ruling. Following a recent streak of consolidation, the global crypto market cap rose by as much as 4% on the news. toncoin (TON) also surged, climbing nearly 16% higher.

Bitcoin Cash (BCH) has reclaimed the $200 territory as the bulls look to reclaim losses from the altcoin market slump in mid-August. A vital on-chain indicator suggests that the BCH price rally is still some way off peak momentum.