BCH or BTC: What Is the Best Option for Investment Now?


BCH or BTC: What Is the Best Option for Investment Now?

As the oldest cryptocurrency, Bitcoin continues to enjoy the benefits of being the first entrant into the cryptocurrency market. The lack of competit

As the oldest cryptocurrency, Bitcoin continues to enjoy the benefits of being the first entrant into the cryptocurrency market. The lack of competition helped BTC establish dominance in the market becoming a household brand in the world of cryptocurrencies. 

While BTC continues to lead cryptocurrencies today and set the pace for the rest of the altcoins, there is an altcoin very similar to Bitcoin, which doesn’t get as much hype as it deserves — Bitcoin Cash (BCH).

Read on to find out more about both Bitcoin and Bitcoin Cash and whether you should convert BCH to BTC in 2022.

Bitcoin Overview

Bitcoin is a virtual currency on the blockchain network that can be used to transfer value, store value, or trade to other cryptocurrencies. 

The premise of BTC was to eliminate the need for central authorities that regulate transactions and make it possible for people to transact anonymously on a network of computers all over the world. The idea of decentralizing financial transactions appealed to millions worldwide as evidenced by the meteoric rise of BTC in the last decade. 

Despite its instant popularity, BTC had its set of challenges, which included slow transaction processing speeds, which necessitated the creation of BCH to solve this challenge. 

Here is a quick overview of BTC’s price in the market and what the future holds for BTC. 

BTC Price Prediction in 2022

Since its inception in 2009, BTC’s price and market cap went from literally nothing to the peaks of $68,789 and $1.2T in November 2021 respectively. While the numbers have since fallen following the 2021 cryptocurrency crash, Bitcoin still continues to lead the world of cryptos with a market share of 40%. 

The unit price of BTC is currently close to its lowest in the last year at about $20,000. It is looking likely to continue tanking to the $10,000 mark as predicted by experts last year. Some of the more optimistic price prediction experts are choosing to believe that before the end of the year, BTC will go on another bull run and accumulate its price to at least $28,000. 

Let’s Take a Closer Look at BCH

As hinted above, BCH (Bitcoin Cash) is a product of attempts of the Bitcoin community to solve slow transaction speeds on the blockchain. BCH was hardforked from BTC in August 2017 to try and solve the existing speed problems.

For BCH to increase the transaction processing speed of BTC, it increased the block size from BTC’s 1.3MB to 8 MB and later 32 MB of data. This enables BCH to process up to 116 transactions per second compared to BTC’s 4-7 transactions per second. 

The increase in block size helped BCH increase the processing speed of transactions without compromising the integrity of the verification of the entire process. 

The BCH coin is the token awarded to miners on the BCH network. It is used for peer-to-peer transactions, which enable users to transfer value on the BCH network. 

BCH Price Forecast 2022

After its drastic rise from $350 at its inception to $3,900 in 2018, the price of BCH went on a freefall down to $111 at the start of 2019. Then BCH’s price swung between $400 and $180 for a while. In the third quarter of 2021, it shot back up to $1,540. After that, the crypto crash saw it go on a bear run back to its current $120. 

Price prediction experts are foreseeing the coin regaining its feet in the market and closing the year at about $172. 

BTC vs BCH — Which Is More Profitable?

While both seem to have been hit hard by the cryptocurrency crash, the coins are considered pretty attractive for traders. 

Judging from the price predictions, BCH will have a higher ROI than BTC in the near future. If you’re looking for an investment to make a quick profit, it makes more sense to bank on BCH than BTC. The BCH project still has room for growth, which means better returns with time. Make sure you choose a trustworthy and trader-friendly cryptocurrency exchange that will allow you to make safe and lucrative crypto deals.