Bitcoin Cash (BCH) Price Prediction: The Next BTC Network Upgrade Could See BCH Price Surge

Bitcoin Cash (BCH) was among the best gainers in the last 24 hours among the top 20 crypto assets, excluding Bitcoin (BTC).

Bitcoin Cash (BCH) was trading among the best gainers in the last 24 hours among the top 20 crypto assets, excluding Bitcoin (BTC). The mid-cap altcoin, with a fully diluted valuation of about $7.5 billion and a 24-hour average trading volume of about $236 million, gained 5 percent to trade at about $382 by 14:00 ET (18:00 GMT).

As a result, BCH price gained over 22 percent in the last four weeks, signaling bullish sentiment. Moreover, the wider altcoin market recorded bullish sentiment as the BTC price regained $92k as a crucial support level.

Bitcoin Cash Network Growth Factors

The Bitcoin Cash network has grown significantly in the past few years, bolstered by its 345k on-chain holders and fixed supply. However, the Bitcoin Cash network has faced intense competition from new and flashy layer one (L1) projects led by Solana (SOL) and Ethereum (ETH).

In a bid to ensure sustainable development and adoption, the Bitcoin Cash Network is preparing for a major upgrade on May 15, 2025. The upcoming BCH network upgrade will introduce advanced smart contracts functionalities through the Targeted Virtual Machine Limits (TVML) proposal.

The integration of smart contracts into the BCH network is expected to expand its use cases and attract a broader range of users.

The project developers are also working on a new programming language called "Bliss" to support smart contracts on the BCH chain. This language is designed to be efficient, secure, and easy to use, making it an ideal choice for both professional and amateur programmers.

The BCH network upgrade will also introduce new privacy features to protect user transactions and identities. These features are being developed to meet the growing demand for privacy in the cryptocurrency market.

The BCH network upgrade is a significant milestone in the project's history. It is expected to have a positive impact on the BCH ecosystem and community.

Midterm Targets for BCH Price

Since April 2024, BCH’s price has consolidated between $273 and $641, without a clear breakout. After failing to rally above the 2018 all-time high during the 2021 crypto rally, BCH is well-positioned to enter its price discovery phase in the coming months.

In the daily timeframe, BCH’s price has consistently closed above major resistance trend lines and is now aiming for the next target of around $423. Furthermore, the daily MACD line has already crossed above the zero line and the histogram continues to suggest a bullish sentiment.

Having a stop loss around $311 and midterm target of about $707 is well positioned to pay well for leveraged traders in the nearest future.