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#Bitcoin Cash Price Analysis

5 reasons which predict bitcoin cash rise this year.

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Bitcoin is experiencing issues with its scalability. The block size was the limitation. Here are five reasons which mark the Bitcoin cash rise in 2018.

2018 is the year for Bitcoin cash rise.

Introduction

Bitcoin was initiated in the year 2009, followed by which, due to a number of inefficiencies and drawbacks of the cryptocurrency coin, a number of hard forks along with many other cryptocurrencies well developed in order to mitigate the real-time issues. A hard fork is nothing but slight change in the working mechanism of an existing cryptocurrency coin and developing a brand new coin out of it. Until now, Bitcoin is the only cryptocurrency with the highest number of forks. Many forks have become popular due to their use cases, and many of them have completely lost among the myriad of cryptocurrencies.

 

Bitcoin Cash rise is inevitable

Among Litecoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Dark, and many other Bitcoin forks. Bitcoin Cash has been the only one which has successfully been able to tip the popularity among the investors as well as the cryptocurrency market in general. In basically makes a small change to the cryptocurrency working mechanism. Bitcoin was experiencing issues with its scalability as a number of people started to use it for various purposes. Therefore, the block size was the limitation. Below are the five reasons which mark the Bitcoin cash rise in 2018.

1. Bitcoin Cash effectively increased the block size from 1MB to 8MB. This was highly useful as more number of transactions could be accommodated within a single block and hence scalability was mitigated. According to its working mechanism, the Bitcoin cash community as predefined that scalability would consistently be resolved at an interval of 6 years, where the block size would be increased according to the market demand. Also most recently in the year 2018 itself, the Bitcoin Cash community had come forward, in order to meet the scalability requirements and increased the block size from 8 MB to almost 32 MB. This increased the capacity by 4 times the previous capacity.

 

2. The Bitcoin cash rise is inevitable as the cryptocurrency coin since its inception has been receiving amazing infrastructural support and many cryptocurrency wallet providers, payment method Agencies, as well as cryptocurrency exchanges,  have incorporated Bitcoin Cash. It is one of the most popular and important Bitcoin forks. The investors must consider investing in Bitcoin Cash, as the market is going to experience the Bitcoin cash rise recently. It is estimated that no other cryptocurrency coin has been able to attract so much popularity within such a small time window.

 

3. Its amazing support from the community members has been one of the major reasons for its sustainment in the market. It is said that the community had been formed, way before the hard work was initiated, and they even were banned from Reddit discussions, for discussing the importance of increasing the block size. They were constantly being suppressed but were stubborn enough to stick on to their idea. Also, the community members were able to improve the Difficulty Adjustment Algorithm within the Bitcoin cash working mechanism.

 

4. Bitcoin cash has been the closest to the vision of Satoshi Nakamoto which indirectly renders the Bitcoin cash rise. The Bitcoin cash community has successfully been able to implement a scalable blockchain network, which can be utilized be by all the members throughout the world, with low transaction fees and negligible delay. The fees are very crucial, as it is still highly unaffordable by the citizens of various developing nations across the world and Bitcoin Cash seems to care about them too. This would definitely lead to Bitcoin Cash rise in 2018.

 

5. The transaction fees have been one of the most prominent reasons for Bitcoin cash rise even in the past. The transaction fees are constantly kept under control through an increased block size and indirectly accommodating more number of transactions per block. As the community members are further looking forward to increasing the block size on a consistent basis the transaction fees would invariably be under control.  Its constant improvement within the blockchain network has been able to make Bitcoin cash one of the cheapest in terms of transaction fees when compared to other cryptocurrencies.

 

Closing thoughts

Bitcoin cash rise is inevitable by the end of 2018, as more number of investors, as well as users, would come forward and incorporate the Bitcoin cash. The experts also predict that there is a lot of innovation that is to come up, with the further development in the Bitcoin cash.

#Bitcoin Cash Price Analysis

Bitcoin Cash falling to 0? Is BCH worthless?

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Today, Bitcoin Cash price fell below Ethereum and this is for the very first time that BCH has fallen below ETH since its inception.

Bitcoin Cash has been falling sharply since the hard fork happened last month which led to the generation of Bitcoin Satoshi Vision. Today, Bitcoin Cash price fell below Ethereum and this is for the very first time that BCH has fallen below ETH since its inception.


Bitcoin Cash is currently trading around $79 while ETH trades around $84 according to CoinGecko (at the time of writing).
Along with the price, the total market capitalization of Bitcoin Cash has also fallen bringing down BCH on the 7th position in cryptocurrencies according to CoinMarketCap.

 

Is it the end for BCH?

Bitcoin Cash team has been continuously trying to attack the real bitcoin from the day of its inception. The team has been trying to bring Bitcoin Cash to mainstream adoption but it doesn’t seem that they have been successful in that. Unlike Bitcoin which truly has a good amount of adoption rate by merchants throughout the world, Bitcoin Cash does not have much of an adoption. Besides that, the daily transactions of BCH are nearly 1/10th of Bitcoin.

Bitcoin Cash Price Analysis

Technical Indicators:

Support Level: $75

Resistance Level: $84

BCHUSD 2 day chart

BCHUSD 2 day chart

In the 2 day chart, Bitcoin Cash was trading at around $96 yesterday and crashed down to around $78 today where it is currently being traded. The main support level of BCH lies around $75 and the resistance level is around $83. BCH is currently trying to recover back from the recent crash but the selling pressure however is quite high which may push the price downwards and Bitcoin Cash could even fall below $70 in short term. However, market analysts are predicting that the price of BCH is likely to fall below $50 before the end of the year.

The following article is not a financial advice. Readers are advised to do their own research and analysis before making any investment decisions in the cryptocurrency market. 

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#Bitcoin

Roger Ver & Bitmain face lawsuit for allegedly hijacking Bitcoin Cash Network

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Roger Ver and Bitmain along with others have been alleged to take control of the Bitcoin Cash network for personal gains.

After the deadly hash-wars between Bitcoin Cash ABC and Bitcoin Cash SV teams, which eventually led to the entire cryptocurrency market downfall, Roger Ver and Bitmain along with others have been alleged to take control of the Bitcoin Cash network for personal gains.

United American Cord issues a statement saying:

“What is alleged to have been a well-planned scheme to take control of the Bitcoin Cash network for personal gain and which caused a global capitalization meltdown of the Bitcoin Cash network at the expense of others”

 

The lawsuit against Roger Ver, Bitcoin.com & Bitmain and others

The lawsuit is against Roger Ver, Bitcoin.com, Bitmain and Kraken and seeks damages and injunctive relief for the victims. The lawsuit alleges that:

“in unfair methods of competition and through a series of unconscionable, deceptive and unfair practices, manipulated the Bitcoin Cash network for their benefit and to the detriment of UnitedCorp and other Bitcoin Cash stakeholders”.

 

Bitcoin Cash ABC planted a “poison pill” during the hard fork

It is furthermore alleged that after the hard fork of Bitcoin Cash, on 20th November, 2018, the Bitcoin ABC team planted a “poison pill” into the blockchain code in order to remain in control of the network at all times. This also makes Bitcoin ABC a centralized blockchain.

The full statement by American Cork can be found here.

 

At the time of writing this article, Bitcoin ABC is trading at $102.00 while Bitcoin SV is trading at $106.47


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#Bitcoin Cash Price Analysis

Bitcoin Cash ABC Price Analysis: BCHABC going down to $100?

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Bitcoin Cash ABC price fell below the $150 support level due to the selling pressure and may now test the next support at $120.

Support Levels: $140, $130, $120

Resistance Level: $145

 

Key Points

  • As of yesterday’s predictions, Bitcoin Cash ABC price broke the key support at $150 and went below this range.
  • A new resistance at $145 is creating a bearish trend line on the 1-hour chart.
  • BCHABC will likely fall below $140 if the selling pressure keeps increasing.

Bitcoin Cash ABC price fell below the $150 support level due to the selling pressure and may now test the next support at $120.

 

Bitcoin Cash ABC Price Analysis

As of yesterday’s predictions, Bitcoin Cash ABC price broke $150 support level and is trading below $145 with a resistance set around $145 and $150. BCHABC is currently trading at a yearly low of $142 (at the time of publishing) according to CoinGecko Charts and may extend losses below $130 to test the next support level of $120.


 

The daily charts of BCHABC predict that BCHABC price is currently under massive selling pressure. The price will fall further breaking the small support levels at $140 and $130 to test the major support at $120.

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