BCH/USD CFD Trading

BCH/USD CFD Trading

The BCH/USD pair moves in strong long-term trends. Interested? Start trading BCH/USD CFDs with FXOpen today!
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What Is BCH/USD CFD Trading?

BCH/USD CFD (Contract for Difference) trading involves speculating on the price movements of Bitcoin Cash relative to the US Dollar without actually owning the underlying assets. CFDs are derivative financial instruments that allow traders to speculate on the price changes of an asset without owning the asset itself.

Bitcoin Cash is a cryptocurrency that was created in 2017 as a result of a hard fork from Bitcoin (BTC) with the goal of addressing some of the perceived limitations of BTC, primarily related to scalability and transaction fees.

To get the most up-to-date insight into the recent performance of this pair, check the BCH to USD chart on the TickTrader platform. It can help you make informed decisions at home or on the go – no matter if you use the desktop version, web terminal, or mobile app. Our real-time chart includes the very latest prices, historical data, and technical analysis tools to help guide your next trade.

BCH/USD Historical Performance

Here are the most interesting spikes in Bitcoin Cash’s rate:

Bitcoin Cash was created on August 1, 2017, as a result of a hard fork from the original Bitcoin blockchain. Initially, it traded at a relatively low price, with its value hovering around $400.

After its creation, Bitcoin Cash experienced a surge in interest and price. The rate of 1 BCH to USD surged above 4,000 in late December 2017. This period was marked by high volatility and high liquidity as BCH gained popularity as an alternative to BTC, and the overall crypto market boomed. Similar to the broader market, the cryptocurrency entered a prolonged bear trend in 2018. Throughout 2018, BCH declined significantly, and it traded near $100 at the beginning of 2019.

The period of 2019-2020 was quite stable, with the rate moving within a $160-$400 range. The pair experienced some price spikes during the year. Bitcoin Cash underwent several network upgrades in 2020 to improve scalability and functionality, and this increased investor and user interest in it.

In 2021, the market recovered, and in May, BCH reached $1,600. However, the trend soon turned around, and by the summer of 2022, the pair plunged to the lows of 2019.

Bitcoin Cash’s rate can hardly be called stable. However, with FXOpen, traders can drive price waves with spreads from 0.0 pips.

Major Factors That Affect the BCH/USD Pair

The exchange rate of Bitcoin Cash against the US Dollar may be affected by:

Overall Trends: The cryptocurrency often follows broader trends. If BTC experiences high volatility, it may lead to significant fluctuation in the BCH/USD pair.

Protocol Developments: Development and upgrades of the Bitcoin Cash protocol may influence its price. Updates that improve security, scalability, and functionality can have a positive impact.

Adoption and Use Cases: Bitcoin Cash's value is influenced by its adoption in various industries and use cases. Its use for everyday transactions, online purchases, or as a store of value can affect demand.

Regulation: Regulatory decisions and government policies regarding the crypto market have a substantial impact on any cryptocurrency.

Global Economic Events: Global economic and political events may lead investors to seek alternative assets like cryptocurrencies, potentially affecting the BCH/USD rate.

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Important: Cryptocurrency trading via CFDs is only available to our Professional clients. To find out more information about how this may affect you, please get in touch with our team.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.