Bitcoin Cash (BCH) CFD Trading
Why trade Bitcoin Cash with ATFX?
Zero Commissions
ATFX charges no commission on Bitcoin Cash CFDs trading, and no bank fees for deposits and withdrawals from your ATFX account, dramatically improving the bottom line for Bitcoin Cash traders.
Trading Open 24/5
Trade Bitcoin Cash CFDs 24 hours a day, five days a week with the ability to open and close positions as you see fit with ATFX, your preferred Bitcoin Cash broker.
Go Long as Well as Short
Trade the ups and downs of Bitcoin Cash with our CFDs.
Trade Bitcoin Cash on Leverage
With ATFX you don’t own the actual cryptocurrency, but you still gain exposure to Bitcoin Cash price changes, and you only need to have 50% of the position value as margin. This also means that any profits or losses will be magnified and it is important that you understand the risks involved.
Trading Conditions
| Name | Bitcoin Cash vs US Dollar |
|---|---|
PRODUCT | BCHUSD |
MINIMUM SPREADS | 5.0 |
LOTS SIZE (MIN/MAX) | 0.1/10 |
CONTRACT SIZE | 1 |
PIP VALUE/LOT | 1 USD |
CURRENCY | USD |
1:400 ACCOUNTS | 1:10 Leverage |
1:200 ACCOUNTS | 1:10 Leverage |
1:100 ACCOUNTS | 1:10 Leverage |
SWAPS | Refer to Trading Platform |
TRADING HOURS* (MON) | 00:05-23:59 |
TRADING HOURS* (TUE-THU) | 00:01-23:59 |
TRADING HOURS* (FRI) | 00:01-23:55 |
Bitcoin Cash (BCH) Price Today
What is Bitcoin Cash?
As the name suggests, Bitcoin Cash is a spin-off forked out of Bitcoin in 2017. A hard fork In a blockchain is a radical change in a protocol that requires all the nodes to upgrade to the latest version. If a group of nodes opt-out of such an upgrade, the blockchain may split into two chains. Consequently, the protocol users get the same token balance on both chains. Therefore, when Bitcoin Cash forked out of Bitcoin in 2017, all Bitcoin holders got equivalent units of Bitcoin Cash on the new chain. Bitcoin Cash is listed on crypto exchanges under the ‘BCH’ ticker.
Bitcoin Vs Bitcoin Cash?
If you are searching ‘how to buy Bitcoin Cash?‘, you must first understand the difference between Bitcoin and Bitcoin Cash. In 2017, Bitcoin developers proposed an upgrade known as the Bitcoin Improvement Proposal (BIP) 91. This upgrade meant adding the Segregated Witness feature to Bitcoin’s code to enable second-layer solutions like the lightning network.
The proponents of BIP 91 wanted to keep the Bitcoin block size small. However, a group of Bitcoin miners in China wanted to increase the block size from 1 MB to 8 MB. This led to a significant disagreement within the Bitcoin community. Supporters of an increased block size were committed to making Bitcoin a medium of exchange like cash. This contentious upgrade ultimately led to the creation of what is now known as Bitcoin Cash. The hard fork took effect on 1st August 2017. Even after five years, Bitcoin vs Bitcoin Cash is still a hot topic among cryptocurrency enthusiasts.
How Does Bitcoin Cash Work?
Since Bitcoin Cash was created as a Bitcoin hard fork, it follows the same rules except for a few crucial differences. Both blockchains use proof-of-work algorithms for consensus and block generation. If you’re wondering how to mine Bitcoin Cash, the most profitable way is to use ASIC miners. Miners provide the necessary computation power to secure the network and receive newly minted coins.
The Bitcoin Cash network differs from the Bitcoin network in terms of block size and the difficulty adjustment algorithm. Bitcoin Cash has a block size limit of 32 MB compared to a 1 MB limit for Bitcoin. In addition, the difficulty adjustment algorithm allows the network to change the difficulty level in proportion to the hashing power.
Bitcoin Cash initially employed an additional Emergency Difficulty Adjustment (EDA) algorithm and Bitcoin’s standard Difficulty Adjustment Algorithm (DAA). However, it had to discard the EDA and use a modified version of the DAA due to specific issues. Consequently, the difficulty of the Bitcoin Cash blockchain now adjusts with every block depending on a moving window of the last 144 blocks.
Is Bitcoin Cash a Good Investment?
As Bitcoin Cash is a Bitcoin fork, its price is primarily correlated with that of Bitcoin. ‘Is Bitcoin Cash a good investment?’ you may ask. The answer to this question depends on the adoption of BCH, which is currently far behind that of Bitcoin. Nevertheless, many payment service providers like BitPay, Coinfy and GoCoin support Bitcoin Cash payments since it has much lower transaction fees than Bitcoin.
Due to the ongoing slump in the crypto markets, the coin has fallen 55% since the start of 2022. Still, if you’re confident about the project’s fundamentals and believe in its vision, the current downtrend could be an excellent long-term buying opportunity.
What affects the Bitcoin Cash price?
A direct correlation can be seen between BCH crypto and Bitcoin prices. This fact became evident when the Bitcoin price soared to record highs in 2017. The massive influx of retail investors entering crypto pushed the BTC price above $20,000 in December 2017. Since most cryptocurrencies were paired against Bitcoin on exchanges, their prices also went ballistic. In December 2017, the Bitcoin Cash price hit its all-time high of $4,300. It was a whopping increase of 21 times from its August 2021 low of $204.
The chart above shows the surge in BCH price at the end of 2017. As the Bitcoin price entered a bear market, Bitcoin Cash also fell rapidly, and the coin dipped to a low of $406 in October 2018. This was the same time when a disagreement within the Bitcoin Cash community led to the announcement of a hard fork known as Bitcoin Satoshi Vision (BSV). The Bitcoin Cash price soared in anticipation of the hard fork as people bought BCH to get free BSV tokens. On 7th November 2018, the BCH price touched $638, and the BSV hard fork took place on 15th November 2018.
As a result of this fork, the Bitcoin Cash blockchain split into two chains. The chain backed by most of the hash power was Bitcoin Cash ABC (BCH), and the other was Bitcoin Satoshi Vision (BSV). After the fork, BCH’s price fell heavily.
By February 2020, BCH was trading close to $500. Around the same time, all the global markets crashed due to the pandemic-induced worldwide lockdowns. The Bitcoin Cash price also crashed in March 2020 and dipped to $133.6. This showed that the Bitcoin Cash price was susceptible to global economic uncertainty like any other asset. In the 3rd quarter of 2020, the equities and traditional markets started booming again, and the BCH price followed suit.
In the fall of 2020, Bitcoin prices started soaring again as the FED started injecting new liquidity into the markets. BTC went above $20,000 in December 2020 and kept on making new highs. In addition to retail investors, many institutions also entered the crypto markets. This injected significant new capital into the markets, and crypto prices surged to record highs. During this time, investor interest in Bitcoin Cash also increased due to its name’s similarity to Bitcoin.
The Bitcoin Cash price surged to its 2021 highs of $1642 in May. This was equivalent to a 1,134% price increase from its March 2020 low of $133.6. However, the price couldn’t stay above $800 for long and faced intense selling pressure at these levels.
After topping out at $69,000 in November 2021, the Bitcoin price is again in a downtrend. The ongoing bearishness has put the Bitcoin Cash price into a downward spiral. The coin is now trading at only $196.5. This translates into an 88% price decrease from the May 2021 highs of $1642. This correlation also suggests that any future Bitcoin Cash prediction depends on Bitcoin’s price action.
What is the circulating supply of Bitcoin Cash's BCH coin?
The circulating supply of BCH also plays a significant role in its price action. Bitcoin Cash has a maximum supply of 21 million coins, and its current circulating supply is 19,070,187. Therefore, 6.25 BCH coins are mined with each block and added to its circulating supply. This block reward is halved after every four years or 210,000 blocks.
How to invest in Bitcoin Cash?
If you are wondering where to buy Bitcoin Cash, there are several ways to trade by which you can gain exposure to BCH. These include spot markets, futures contracts and CFDs. Spot Exchanges like Binance, FTX and Kucoin could be helpful if you have a long-term perspective. However, CFD trading could be a better option if you’re a trader and want exposure to the volatility of BCH’s price action without owning cryptos.
CFDs or contracts for difference allow you to increase your position size with little capital, known as ‘margin’. When trading CFDs, you don’t own cryptocurrencies. Instead, you speculate on the direction in which the crypto prices are heading. This feature makes the CFD products ideal for investors with low initial capital. Another benefit of leveraged products like CFDs is that you don’t have to hold or manage crypto assets on a blockchain.
FAQ
Bitcoin Cash is a Bitcoin fork with almost the same architecture as the legacy Bitcoin blockchain. The only difference is its increased block size and the use of a modified Difficulty Adjustment Algorithm (DAA).
Bitcoin Cash prices follow Bitcoin’s price action, just like most altcoins. BCH’s price also depends on the network’s adoption. Major network upgrades and big news also affect its prices.
You can trade Bitcoin Cash using a reliable CFDs broker like ATFX.com. You can also buy Bitcoin Cash from crypto exchanges like Binance, FTX, Kucoin, etc.
The best way to gain exposure to Bitcoin Cash is by trading CFDs. This is because they allow you to hold a much bigger position with just a fraction of capital, known as ‘margin’.
There are no minimum requirements to start trading Bitcoin Cash. You can invest as low as $10 on most spot exchanges. You can also increase your position size by trading CFDs as well.
