Last week, we have witnessed how the leading cryptocurrencies performed. Most of the major cryptocurrencies increased its value ranging 15% to 25% maybe except XRP Ripple.
Judging by the indicator, Bitcoin, Bitcoin Cash Ethereum and Ripple will continue to perform well this next week's.
Let's Recap about the previous topic:
The term "altcoins" refers to all cryptocurrencies other than Bitcoin.
Some of the main types of altcoins include mining-based cryptocurrencies, stablecoins, security tokens, and utility tokens.
Altcoins might include only mining-based cryptocurrencies other than Bitcoin in the future as usage continues to develop with technology.
Ethereum and Ripple were the largest altcoins by market capitalization in February 2020.
Mostly of the altcoins in the market are built in the basic framework provided and used by Bitcoin. We noticed that most of the altcoins are peer to peer. Their main goal and maming it their advantage was offering efficient and inexpensive ways to carry out transactions virtually. Even having them with similar and overlapping features and framework, each altcoins vaey widely from each other.
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. In 2018 Bitcoin Cash subsequently split into two cryptocurrencies: Bitcoin Cash and Bitcoin SV. Bitcoin Cash is sometimes also referred to as Bcash.Decentralised technology application in payment and financial system is now the latest uptrend now. Cryptocurrency token and Altcoins are more having valuable importance than cash. Many millionaire are now investing their money in Cryptos.
DeFi is a short term for " decentralized finance " an terminology umbrella for a variety of financial applications in blockchain or cryptocurrency geared towards disrupting and manipulative intermediaries.
This altcoin has a different story. Bitcoin Cash was started and discovered by Bitcoin miners and some developers that who are somehow concerned with the future of the cryptocurrency and its scale effectively. And there were concerns that its introduction undermined the decentralization and democratization of the currency.
Last 2017 around the month of August, some proponents of miners and developers initiated what is known as a hard fork thus creating effectively a new and unique currency out of Bitcoin itself.
BCH has implemented an increased block size of 8 MB to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it.
The Cryptocurrency market has surged it's dominance in currency war against the US dollar. But for the last 2 years, there's a new and fresh challenge to it's dominance to it's strong market.
Lately, Altcoins are gaining ground and momentum against their bigger cousins. For the past 2 years altcoins attract and gathered users, communities and developers who are confident altcoins have much more potential.
Bitcoin as an Altcoin has already crossed the first and initial resistance towards and above the $200 and almost reach the $300 range high. The proposed upward move is likely to commence in the current uptrend of today. BCH will rise to level 1.618 Fibonacci extension. In other words, the coin will reach a high of $299.25.