Today, Bitcoin Cash has a range of factors which are dragging the price down. First of all, its poor security, which led to an accidental fork and the loss of user’s money. Also, the reputation and trust were spoiled by the possibility of the 51% attack.
Despite a problematic background, Bitcoin Cash remains the most successful fork of Bitcoin. Today, it has a big community of miners and traders. The coin has a limited supply which will eliminate inflation in the network and can positively affect its price.
The development team seeks to find a way to improve the whole situation. Bitcoin Cash is preparing a big update that should fix all the problems:
Improve security and protection from attacks (including 51% attack)
Increase bandwidth of the mainnet to thousands of tps
Reduce transaction confirmation time to 2-3 seconds
Introduce smart contracts
Cut commissions with fractional satoshi technology
Introduce the CashShuffle protocol to make operations untraceable
Reduce the weight of transfers to accelerate the blockchain with Schnorr signatures and formatting UTXO.
The dev team plans to release Avalanche in November. Some experts believe that it will boost up the price to $500-600. Let’s check what other experts say.
Wow this sounds exciting!