Bitcoin Cash Price Analysis

• Bitcoin Cash price saw a tremendous increase yesterday with over 20% surge.
• Bitcoin Cash is now trading at $533 while it was trading at around $430 yesterday.
• Bitcoin Cash price may face some hurdles as the market is foreseeing large number of sellers and large number of buyers at the same time.

It first starts with agreements and disagreements about and how to improvise Bitcoin’s technology. You can see that one of the problems with Bitcoin is that by the time more people will use it, the networks take longer and longer to process a single transaction. It also because of that transaction fees become more expensive.

The specific purpose of launching Bitcoin Cash is to be used as a payment system. Which means that just like an original Bitcoin client, people will be able to send and receive funds with Bitcoin cash as well. Although, Bitcoin Cash’s technology allows much faster transaction times and lower transaction fees.

Bitcoin Cash is a peer-to-peer form of electronic cash with the internet. It is completely decentralized, with no central Bank and does not requires any trusted third parties to operate.

Features of Bitcoin Cash (BCH)

Decentralized

The network is spread out across many different computers all over the world.

Peer-to-peer

Any person who’s holding bitcoin cash can send directly cash to another person from anywhere in the world without any need of an intermediary, like a Bank.

Secure

Bitcoin Cash applies strong encryption which prevents hacking, fraud, and cyber-attacks.

Open

Since Bitcoin Cash has launched transactions is logged on a publicly accessible blockchain that can be viewed and verified by anyone.

Fast

Transact in seconds, Get confirmation in minutes.

Reliable

It’s a network that runs without congestion.

Low Fees

It can send money globally for pennies.

Simple

It is easy to use with hassles free.

Stable

Its payment system is a proven store of value.

Secure

It is the world’s most robust blockchain technology.

Bitcoin Cash was created as a result of diverging viewpoints within the bitcoin community about how to scale the network. As the number of people starts using bitcoin, the network will struggle to keep up with the volume of transactions. And this results in that many bitcoin users have to wait for hours, sometimes days, before seeing their transactions go through. There was a lot of debate around how to solve this problem and that led to a split between two groups with opposing viewpoints: those in favor of increasing the size of blocks with a comparison to the blockchain vs. those in the favor of restructuring them in the way data was stored in the existing blocks.