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## [TL; DR]
Bitcoin cash had its halving event on 4 April which reduced the mining reward from 6.25 BCH to 3.125 BCH.

After the halving event BCH rallied to surpass its 2021 valuation level.

The price of BCH may reach $920 by the end of 2025 and $821.41 in 2030.
## Introduction
Bitcoin Cash (BCH) which had its halving event on 4 April that resulted in reduction of the mining reward from 6.25 to 3.125 recorded significant gains during that week. However, the price first dipped before rising significantly. Now, the market expects its price to keep surging as it anticipates a market-wide crypto rally following the oncoming <a href="/th/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> halving event. 

This article analyzes Bitcoin Cash’s potential to reach new  highs. We will also assess its possible future market performance using technical indicators and metrics such as the Relative Strength Index and its 30-day Market Value to Realized Value (MVRV). Finally, we will [make a BCH price prediction based on its current market performance](https://www.gate.io/price-prediction/bitcoin-cash-bch "make a BCH price prediction based on its current market performance"). 

## Bitcoin Cash's potential to reach a 3-year high
During the first week of April BCH had a price rally which led its price to surpass $705, something it last did in 2021. The following graph shows the moment BCH reached the new 3-year high of $709.49 on 8 April.
![](https://gimg2.gateimg.com/image/article/171334714612.jpeg)
BCH Reaches a New 3-Year High –[ CoinGecko](https://www.coingecko.com/en/coins/bitcoin-cash " CoinGecko")

Nonetheless, after the BCH 3-year high the cryptocurrency started losing momentum resulting in a 16.2% price drop within two weeks. That sharp price rejection hinted that the $700 level is a strong liquidation point. In addition, the altcoin gained by 24.1% within the last 30 days and by 273.1% within the past 1 year. 

## Market Interest and RSI Analysis: Current RSI of 79 for BCH and its implications
The current [bitcoin cash market analysis](https://www.gate.io/blog_detail/2822/bitcoin-cash-bch-resurgence "bitcoin cash market analysis") indicates that the cryptocurrency is bullish. For instance, the RSI analysis shows that investors have a strong interest in the altcoin. As the following graph indicates, during the first week of April BCH had a Relative Strength Index (RSI) reading of 79, showing its bullish outlook.
![](https://gimg2.gateimg.com/image/article/17133471891.jpeg)
Bitcoin Cash RSI - [Santiment](https://app.santiment.net/ "Santiment")

Based on the RSI scale a cryptocurrency is in a bullish state if it has a reading of at least 70. The more the reading advances towards 90 the greater the bullish momentum becomes. On the contrary, if the RSI reading is below 30 it shows that the market is bearish. Generally, a reading of between 30 and 70 shows price consolidation. 

The fact that the RSI reading is within the overbought range does not mean it is going to retrace soon. The reason is that the asset may remain in the overbought market condition for a long time. In this case, it simply indicates that the BCH bullish outlook is continuing. It also signifies high <a href="/th/price/bitcoin-cash-bch" target="_blank" class="blog_inner_link">Bitcoin Cash</a> investment interest. 
## MVRV Ratio and Its Implications
The current bitcoin cash MVRV ratio is 13% which normally indicates a bearish market outlook for most cryptocurrencies. However, in the past the bitcoin Cash price movements were positive despite such an MVRV ratio. This validates the BCH price growth potential in coming weeks or months. The next graph shows Bitcoin Cash MVRV ratio.
![](https://gimg2.gateimg.com/image/article/17133469662.jpeg)
Bitcoin Cash MVRV - Santiment

It is vital to realize that an asset’s MVRV shows the relationship between its market capitalization and realized cap to establish if it is overvalued or undervalued. Extreme values, up or down, indicate potential market corrections. 
## BCH Open Interest
The bitcoin cash open interest has also reached a high level, standing at $799.23 million. This indicates that there is high market speculation and activity which may affect its near future price. In fact, high open interest means that many BCH contracts are still open and that the market participants will keep watching the developments in the market. 
## Prediction and IOMAP Chart Analysis 
A <a href="/th/price/bitcoin-cash-bch" target="_blank" class="blog_inner_link">Bitcoin Cash price</a> prediction can help us to understand what may happen in its market. At the moment the bitcoin cash price analysis indicates a possibility of a potential BCH price drop. However the correction may not go further than the Bitcoin cash price support at the $617 level. 

Also, there is a key resistance level at $673. If BCH breaches that level it may have a breakout that will propel it towards $733 which is its highest valuation since May 2021. Conversely, a breakdown may lead the altcoin to retest the $577 support level. The Bitcoin Cash IOMAP below indicates some significant price levels. 
![](https://gimg2.gateimg.com/image/article/17133472423.jpeg)
Bitcoin Cash IOMAP - [IntoTheBlock](https://app.intotheblock.com/coin/BCH/deep-dive?group=all&chart=all "IntoTheBlock")

In this case, the above In/Out of the Money Around Price (IOMAP) chart indicates important price levels which investors should [focus on before investing in bitcoin cash](https://www.gate.io/how-to-buy/bitcoin-cash-bch "focus on before investing in bitcoin cash"). Some important points include BCH price resistance levels. 

## Bitcoin Cash price predictions for 2024/2025/2030
Basically, the recent BCH price surge was a result of the 4 April bitcoin cash halving. The key factor contributing to the BCH price pump was a reduction in the altcoin’s sell-off pressure since the miners were accumulating rather than disposing off their holdings. 

However, most of the miners sold their BCH before 31 March. Presently, as the bullish momentum continues the next BCH price target is the $920 level which corresponds with the 61.80% Fibonacci retracement level. Coinpedia forecasts a very bullish 2024, 2025 and 2030. The following table summarizes its <a href="/th/price-prediction" target="_blank" class="blog_inner_link">price prediction</a>. 
![](https://gimg2.gateimg.com/image/article/17133472934.jpeg)
Bitcoin Cash Price Prediction 2024, 2025 and 2030 - [Coinpedia](https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/ "Coinpedia")

As the diagram denotes, the price of BCH may reach $1,500 by the end of 2024, $1,711 by 2025 and $6,292.56 in 2030. Based on Coinpedia's bitcoin cash price prediction BCH may have a strong rally during the current year. 

Unlike Coinpedia, CoinCodex has a less bullish BCH price prediction for the three years. The following graph shows CoinCodex’s price prediction until the end of April.
![](https://gimg2.gateimg.com/image/article/17133473425.jpeg)
BCH Price Prediction - [CoinCodex](https://coincodex.com/crypto/bitcoin-cash/price-prediction/ "CoinCodex")

As observed, the BCH price is likely to reach a peak in April before retracing towards $476.66. However, it forecasts its value to appreciate significantly during 2025 as the next table indicates.
![](https://gimg2.gateimg.com/image/article/17133473766.jpeg)
BCH Price Prediction- [CoinCodex](https://coincodex.com/crypto/bitcoin-cash/price-prediction/ "CoinCodex")

According to this BCH price forecast the altcoin’s value may increase tremendously to reach $1,004 by the end of year. However, it may fall by large margins in 2026 to close the year at around $617.85. Yet, from 2027 its value may gradually rise to trade at around $821.41 by 2030. GPT-Turbo also indicates that the price of BCH will rise in 2024 and 2025. 
## Conclusion 
BCH performed extremely well during the first quarter of the year. As a result, it attained its 3-year high of $709.49 on 8 April. Right now, it is showing a bullish outlook which may drive its value towards $920. Some experts believe that the altcoin will be bullish for the rest of 2024 and 2025. 

<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Bitcoin Cash (BCH) Price Targets a 3-Year High: Analysis and Predictions