BCH has a better future

6-1-2022
Thursday
7:35 pm
#93

BitcoinCash is an alternative coin which is a fork of Bitcoin. Last year, we had the time of price increase and also decrease in price.

In the last 24 hours, BCH dropped more than 9% percent. It is currently being traded at $395 per BCH. The fall started yesterday when BTC dropped to $49,000. The coin further fell to a low of $42,000. Many reasons are making headlines as the primary reason behind the recent performance of bitcoin cash.

As we all know, around September last year BCH had surpassed the $700 price mark. That was quite an achievement for a coin that had just been created 5 years back. However, it was just one of the many steps BCH is going to take on its way to the top.

The outage of one of the largest bitcoin cash mining pools, ViaBTC mining pool is being considered as one of the reasons behind BCH price dip. The mining pool was down for quite some time and its users were unable to sell their coins for BTC or USD. Although the pool was back to normal sometime later, it couldn't have been a good thing for BCH traders at that point in time.

Why BCH price is falling

We've witnessed the rise of BCH, the same way we are currently witnessing the dip. It is hard to define the major reason behind fall in price.

The upward rise of Bitcoin Cash (BCH) was a phenomenon that gained much attention among cryptocurrency enthusiasts. The same phenomenon has to be seen in reverse, as the coin is currently having a hard time to stay above $390 mark. Looking at the chart, the dip is obvious, but why is that?

Why is BCH price falling - there are many reasons for this to happen. Overall, the BCH price has been manipulated by whales, alike to many other altcoins. Those who wanted to see it succeed and bring Bitcoin Cash back on track have been tricked by the pump, which resulted in over optimism of BCH price as itis predicted to reach $5000.

Two weeks ago, BCH was trading at around $450/BCH, which made it reach a 10% decrease.

An analysis done by Satoshi's vision, a crypto market data and trading platform as shown that out of the top 10 exchanges which contribute to BTC volume, only one exchange is trading in BCH. This is a major factor which is contributing to the dip in BCH.

Bitcoin Cash is a decentralized currency. There is no need for large amounts of capital to maintain it. It does not rely on third party services for money transmission. Most importantly, the next wave of applications for Bitcoin Cash will be coming soon and will be designed with this in mind.

What’s unique about Bitcoin Cash is that it’s not just about digital money or payments. It’s about providing people with financial autonomy and freedom so they can do whatever they want with their money, without banks or governments limiting themselves or their businesses..

You can check @Giddyboy 's The Future Of Cryptocurrency is Certain to know more about the future of cryptocurrency.

In my opinion, BCH has a better future, because it has a good technology and speed. I hope that in the near future, more people will talk about bitcoin cash and use to make purchase.

I know that many of you don't know bitcoin cash but you can use it without any problems. One of the best thing about bitcoin cash is the price it is growing continuously and it is the best cryptocurrency in the market right now.

Bitcoin Cash is created for people who wants to see the capability of bitcoin again or want to use the bitcoin as originally made but only better, faster and cheaper.

The number of transactions on its network has increased steadily over the last year to an average of 300,000 per day. The transaction time for BCH is about 2 minutes, whereas for BTC it is 10 minutes. Transaction fees for BCH are around $0.001 per transaction, as opposed to $5 to send BTC. These high fees have been a pain point for BTC users and they are no longer sustainable on BTC’s network.

The company Bitpay chose to stop accepting BTC payments due to this in November 2017. The CEO Stephen Pair went on record saying: “We were passing along the fees to our customers, and that was getting unwieldy.

The Bitcoin Cash (BCH) network is a robust blockchain that can support the world’s transactions. It is a cryptocurrency that is completely decentralized and self-sufficient, which makes it safer than others. It is no surprise that BCH has a better value proposition for the future.

Before you read to the end, we already have a question for you:

What do you think the Bitcoin Cash price will be at the end of this year (December 31st)?

Bitcoin Cash was introduced in 2017 as a hard fork of Bitcoin by the community to improve certain issues that were identified over years. This coin is now offering you to invest in it and expect same increase in price as last year if not more.

The fees are very low compared to Bitcoin and hence it makes it the best buy. I am sure the value will increase and might give even double returns within the year.

No one knows the exact future of BCH, but we can say that it has a bright future.

Closing thought:

As we are dealing with cryptocurrencies, no body can say for sure what will happen next week or month. The best thing we can do is to be prepared for any scenario and try not to panic in that scenario.

The Bitcoin Cash (BCH) network is a robust blockchain that can support the world’s transactions. It is a cryptocurrency that is completely decentralized and self-sufficient, which makes it safer than others. It is no surprise that BCH has a better value proposition for the future.

The future of BCH depends upon the support of these exchanges. With a support of more exchanges, it will be difficult to manipulate the price of BCH and it will remain stable.

Thanks for reading 🙏❤️