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How are you all, hope you are all doing well. Today I am going to talk about journey of bitcoincash...
Bitcoin Cash (BCH) forked from the Bitcoin (BTC) Network on August 1, 2017. BCH is a fork of bitcoin which allows for more transactions in each block. This allows for lower average fees and faster average confirmation times.In technical terms, Bitcoin Cash (BCH) has bigger blocks and can process more transactions at lower fees than Bitcoin (BTC), which makes BCH a better investment, especially for users who are interested in everyday payments and online purchases.
Bitcoin Cash has cheaper transfer fees (around $0.20 per transaction), so making transactions in BCH will save you more money than using BTC. A BTC transaction can cost around $1 USD per transaction, although it previously went up to around $25 per transaction! BCH has faster transfer times.20-Jul-2020. According to the latest long-term forecast, Bitcoin Cash price will hit $1,000 by the end of 2021 and then $2,000 by the end of 2024.
Bitcoin is an incredibly risky investment that may or may not pay off, so it's probably not the best fit for most people. ... You may not lose money investing in Bitcoin, but it's a good idea to be prepared for the worst just in case.
DigitalCoinPrice has a positive forecast for the future price of Bitcoin Cash. In 2021, it will fluctuate between $500 and $60 and “reach its highest price of $680 in September 2021.” “In 2022, BCH will be trading between $600-$700 with the highest price – $803 in July. Over time the price of the coin will grow.16-Mar-2021. Nevertheless, Bitcoin Cash is often viewed by many as undervalued.
With less than three years in the cryptocurrency market, Bitcoin Cash (BCH) has continuously proved its great investment potential for traders and investors alike. Bitcoin Cash is predicted to keep skyrocketing over the next couple of years.
Bitcoin Cash was created to overcome two of the major challenges being faced by Bitcoin- Scalability- by increasing the “block size”, BCH can process a higher number of transactions per second when compared to Bitcoin.
Like Bitcoin, Bitcoin Cash is a cryptocurrency with its own blockchain. It works just like a digital currency and new BCH (Bitcoin Cash) is created through Bitcoin Cash mining. It was created at the end of 2016, making it much younger than Bitcoin.
Bitcoin was forked to create Bitcoin Cash because the developers of Bitcoin wanted to make some important changes to Bitcoin. The developers of the Bitcoin community could not come to an agreement concerning some of the changes that they wanted to make. So, a small group of these developers forked Bitcoin to create a new version of the same code with a few modifications.
The changes that make all the difference between Bitcoin Cash VS Bitcoin are these:
Bitcoin Cash has cheaper transfer fees (around $0.20 per transaction), so making transactions in BCH will save you more money than using BTC. A BTC transaction can cost around $1 USD per transaction, although it previously went up to around $25 per transaction!
BCH has faster transfer times. So, you don’t have to wait the 10 minutes it takes to verify a Bitcoin transaction!
BCH can handle more transactions per second. This means that more people can use BCH at the same time than they can with BTC.
All these changes are due to the fact that a Bitcoin Cash block (in the blockchain) is eight times bigger than a Bitcoin block. This makes BCH faster, cheaper and more scalable than Bitcoin. Bitcoin cash is becoming more and more adopted by the day because of this.
Bitcoin Cash VS Bitcoin: The War of the Prices
As mentioned earlier, cryptocurrencies like Bitcoin or Bitcoin Cash derive their value from how much they are adopted, used and demanded. We can analyze them in terms of ROI (return on investment) and value growth.
They are both holders of value, and while Bitcoin has been the holder of the most value up until now, Bitcoin Cash is gaining users and value fast.
Bitcoin Cash is much younger than Bitcoin. So, it is still in the stage of capturing and realizing its own place in the crypto market. Many people speculate that Bitcoin Cash might take a good portion of Bitcoin’s market share, making it the new dominant crypto in the industry. This is because Bitcoin Cash has addressed the scaling issues that Bitcoin faces, allowing more people to use it with ease and lower fees.
If the Bitcoin developer community doesn’t find a way to agree to a mutual update to the Bitcoin code to fix its problems, Bitcoin might lose in the war between BTC VS BCH. This means that more people will likely switch to using BCH as their main store of value and transactional currency.
In the recent past, Bitcoin Cash has been worth as low as 5% of Bitcoin, to as high as 33%. It is currently staying within the range of 10-15% of the price of Bitcoin. Below are charts of the BCH VS BTC prices over the past nine months.
(The orange line is BCH to BTC)
UPDATE 2021: Bitcoin cash is currently worth $226.83 and Bitcoin is worth $10,258.22 USD, meaning that 1 Bitcoin equals 44.90 Bitcoin Cash.
One of the things holding BCH’s rapid growth back is the confusion people have between Bitcoin and Bitcoin Cash. Many newbie investors see Bitcoin Cash as a cheaper Bitcoin with a lower entry point to the market. This is because they share very similar names and come from the same branding and community.
The confusion has also led to Bitcoin Cash receiving negative attention as a copycat currency that is simply a cash grab, aimed at tricking new crypto investors into buying a fake Bitcoin. This, however, is not true.
BCH is no fake Bitcoin, but it may very well be a better one.
The main advantage of Bitcoin Cash is that it is cheaper and faster to use. This is because it is more scalable, meaning that more people can transact on the blockchain at any given time.
Its development team is quick to implement solutions that make the blockchain more scalable. Which gives it great future potential for adoption and use.
It is also cheaper to move around between exchanges. Whenever its price surges, it is a great trading asset against Bitcoin and a solid investment to hedge against Bitcoin, should Bitcoin lose its market dominance one day.
Bitcoin cash is making progress day by day and I am happy to see that people are joining this amazing site @noise.cash and they are becoming a part of @BCH
I hope if we work together for the promotion of BCH and noise.cash we will see BCH value at the top of all currencies soon and I hope bch will touches the sky soon 💚and it will be on the moon. Now bch is going to the moon 🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙🌙
Happy reading 😊
These given below are all my friends who are also helping me in spreading BCH love in my city and also through social media in all over Pakistan 😊