Bitcoin Cash will soon reach the $1 billion mark and will likely continue to climb even as the price dips below $500.
That’s the prediction from the currency’s most prominent cryptocurrency, Bitcoin Cash (BCH), which had been at $1.17 before the fork in the protocol that caused a price drop on Thursday.
The bitcoin-backed cryptocurrency has risen from about $900 on Dec. 2 to $1 today, according to CoinDesk.
The coin has already overtaken bitcoin as the second-most valuable cryptocurrency after the dollar.
The currency’s price also is on track to reach $1 trillion in market capitalization within two years, according the Bitcoin Investment Trust, which represents more than $2 trillion in assets.
That would make it the most valuable cryptocurrency on the planet, according BTC Futures, which tracks cryptocurrencies and is based in Austin, Texas.
The Bitcoin Cash price will likely not be reached until sometime in 2019.
As for when it will hit the $2 billion mark, BitcoinCash.org is forecasting that the currency will reach $2,000 in the next four months.
The price of bitcoin, the world’s most popular cryptocurrency, has also soared since the fork, reaching $1.,000 this past week.
At the same time, Bitcoin’s market cap has fallen from $2.4 billion at the start of 2017 to $2 million today.
Bitcoin’s price has surged on speculation about a government shutdown in China and fears of an economic recession.
However, bitcoin’s value has grown on news that Chinese authorities will allow the country to conduct virtual currency exchanges.
This week, a U.S. Senate committee held a hearing on virtual currencies, which included the testimony of U.K.-based BitInstant CEO Matthew Green.
The Senate hearing came as the U.N. agency’s Special Rapporteur on freedom of expression and association, Gillian Tett, also testified on the matter.
The hearing is expected to continue into next week.
The U.Q. Khan University student exchange site Bitstamp has also seen an increase in value, according a report by CoinDesk, which has been tracking the site’s market value.
The exchange site, which supports a wide variety of cryptocurrencies, including bitcoin, has seen its value rise from $10 million to more than a billion dollars in the past month.
The virtual currency has also been seeing its popularity spread across other digital currencies, like ether and litecoin, according Bitstamps value.
However to date, the value of bitcoin is not tied to the price of the cryptocurrency, according Bitcoin.com, which monitors digital currencies.
The altcoin has been gaining traction in recent months as the global economy has become more competitive.
As of December, bitcoin has more than quadrupled in value over the past three years.
“We expect the price to continue to grow over the coming months as its adoption increases in the marketplace,” a CoinDesk spokesperson told CoinDesk in a statement.
Bitcoin has been the most widely used cryptocurrency, accounting for nearly 90 percent of all digital currency trades in the first quarter of 2017, according CoinMarketCap.
The digital currency has been in a steady decline for the past several years, falling from more than 2,500 bitcoins in 2014 to less than 100 in 2015 and less than 2 percent in 2016.
CoinDesk analyzed data from the Blockchain.info cryptocurrency database to compile a list of the most important digital currencies that are traded daily, as well as the most popular altcoins.
The CoinDesk database includes the most recent trading data, as of Dec. 19.
Bitcoin Cash is not on this list, which means it’s not included in the list of digital currencies listed in the database.
A Bitcoin Cash fork has caused a spike in trading prices in the cryptocurrency’s ecosystem.
CoinMarketCapped’s Bitcoin Cash Index, which uses CoinMarketcap data, has increased from just under $8.8 billion at Dec. 16 to $9.2 billion on Dec 26.
The number of bitcoin transactions in the Bitcoin Cash ecosystem increased from about 30,000 to over 1.6 million transactions during the same period, CoinMarketCenter reported on Wednesday.
However it’s worth noting that some of the biggest altcoins in the ecosystem, like Ethereum and Litecoin, are trading for less than one-tenth of one percent of the value that bitcoin is trading for today.
“While Bitcoin Cash has been trending higher since the Bitcoin fork, its price has been falling for the last month, which is what led to the recent spike in value,” Bitcoin Cash developer Gavin Andresen wrote on Twitter.
“A fork is not the cause of Bitcoin Cash’s price collapse.”
In a statement, the bitcoin-based exchange platform Bitfinex said: “Bitfinex has experienced a significant increase in Bitcoin Cash trading volumes since Dec. 15.
Bitcoin prices have been rising steadily in recent days, which resulted in an increase of over 1,