Introduction

BCH coin, also known as Bitcoin Cash, is a popular cryptocurrency that was created as a fork of the original Bitcoin. Since its launch in 2017, BCH has become increasingly popular among traders and investors due to its faster transaction times and lower fees compared to Bitcoin. In this article, we will look into the potential price trends of BCH in 2020 with the help of recent market analysis and expert opinions.

Market Analysis

The year has been a roller coaster ride for cryptocurrencies so far, and BCH is no exception. The price of BCH coin has seen significant rises and falls throughout 2020. In May 2020, BCH peaked at around $480 per coin, but the price tumbled down to $200 by the end of June.

Despite the price fluctuations, many experts believe that BCH is still a worthy investment for traders. The market analysis shows that BCH has a bright future ahead, and the price of BCH is expected to reach new highs in the coming months.

Expert Opinions

Larry Cermak, a cryptocurrency analyst at The Block, predicts that the BCH coin will rise to $550 by the end of 2020. He also believes that the coin will continue to grow in the long run due to its increased adoption and usage globally.

Another expert, Roger Ver, who is known as the 'Bitcoin Jesus,' has expressed his belief that the BCH coin will outperform Bitcoin in the coming years. In a recent interview, he stated that he expects the price of BCH to rise above $1,000 in 2020.

Similarly, the CEO of BitMEX, Arthur Hayes, predicts that the price of BCH will experience a sharp increase in the second half of 2020, stating that the coin has tremendous potential for growth.

Factors Affecting the Price of BCH

Several factors can influence the price of cryptocurrency, including BCH. One of the significant factors is overall market sentiment. The fluctuations in the general crypto market, such as Bitcoin's price and other major cryptocurrencies, can affect the price of BCH.

The increased adoption of BCH globally also has a significant impact on its price. As more users and businesses start accepting BCH as a payment method, the demand for BCH coin would increase, leading to a rise in its price.

The upcoming network upgrade of BCH, scheduled for November 2020, could also affect its price. The upgrade aims to add new features to the BCH network, including smart contract functionality, which could attract new users and investors to the platform.

Conclusion

In conclusion, the market analysis and expert opinions suggest that the price of BCH coin is expected to rise in the coming months. However, it is essential to remember that cryptocurrency markets are unpredictable and highly volatile. Therefore, DO your own research before investing in any cryptocurrency, and always invest wisely.