It is that time of year again when we hear some very interesting cryptocurrency price predictions. It is no secret the Bitcoin price is not going anywhere but down in the near future, which also affects all other cryptocurrencies on the market. Calvin Ayre, a notorious Bitcoin Cash supporter, remains confident BCH will have a value of at least US$10,000 in May of this year.
Can Bitcoin Cash Reach $10,000?
A few years ago, most people were convinced the Bitcoin price would never surpass US$2,500. They were all proven wrong last year, and then some. Having peaked over US$19,000, the Bitcoin price has been the talk of the town for quite some time now. As was to be expected, however, this uptrend would be followed by a massive market correction. So far, things are playing out as anticipated, and things are not looking all that great for Bitcoin.
In fact, it is very likely the Bitcoin price will remain stuck at or below US$10,000 for quite some time. Veteran cryptocurrency enthusiasts won’t be too bothered by this development, as most of us have witnessed three-digit Bitcoin prices before. Anything above US$1,000 is still a major validation of what Bitcoin can do in the future. So far, the Bitcoin price has not seen much positive momentum in 2018. The first quarter of a new year is always notoriously bearish for cryptocurrencies in general, and thus there isn’t much to worry about just yet.
Calvin Ayre has some interesting opinions on both Bitcoin and Bitcoin Cash, as it happens. Although everyone knows Ayre is a permabull when it comes to Bitcoin Cash, his prediction of BCH hitting US$10,000 in May 2018 may not necessarily come true. Right now, there is a growing Bitcoin Cash community, and merchant support has been on the rise as well. Even so, it is highly doubtful this currency will go up in value by over 700% in the next four months. Anything is possible in the cryptocurrency world, but this seems rather wishful thinking.
so far Segwit coin is as I have predicted…still waiting until Bitcoin decouples in its trading and takes on a life of its own…I am calling Bitcoin BCH above 10 K in May and Segwit BTC below remember.https://t.co/as3A0bR2fj
— Calvin Ayre (@CalvinAyre) January 31, 2018
Ayre also states that the rise of Bitcoin Cash will herald the demise of Bitcoin itself. He is very confident that the Bitcoin value will continue to crumble, although it is unclear how low we will go. Looking at the current charts, a drop to US$7,500 or less is not entirely impossible, although it may not necessarily materialize all in one go. So far, we have seen a slow bleed for the Bitcoin price, having already dropped below US$9,000.
Even though there is a lot of merit to Bitcoin Cash, it seems far more likely Ethereum will surpass Bitcoin in terms of market capitalization first. Ethereum’s market cap is US$58 billion behind Bitcoin’s, whereas this gap was close to US$125 billion not that long ago. The demise of Bitcoin will shake up a lot of markets, and it is evident there will be some interesting changes sooner rather than later. The Bitcoin price decline has also dragged the Bitcoin Cash price down with it, whereas Ethereum has been largely unaffected.
It will be interesting to see what the future holds for Bitcoin and Bitcoin Cash. Both currencies are considered different sides of the same medallion, even though there are some interesting differences between the two. A Bitcoin Cash price prediction of US$10,000 is far more conservative than John McAfee’s Bitcoin price prediction of US$500,000. It seems only one of them will come true, but no one knows for sure which one it will be.