Bitcoin Cash (BCH) reached an all-time high of $4,355.62 on December 20, 2017 after just four months of trading which gave investors renewed hope. At its inception, many investors felt it could reach the price milestones of Bitcoin (BTC).
So far, Bitcoin Cash has faced strong resistance due to competition from other altcoins. With several merchants accepting BCH as an option of payment, will the digital coin soar to new all-time highs? With Switzerland-based Investment Product Provider 21 Shares listing BCH on Xetra market, will this cause a huge spike in price due to direct market exposure?
This will be attributed to people viewing Bitcoin Cash as a safe haven, global politics which will make the digital asset attractive as an investment option and a full recovery from the pandemic.
Bitcoin Cash will have a trade price of at least $5,000 due to hawkish central banks, positive crypto market sentiment, many investors will view it as a safe haven and global economic crises will lead to the adoption of coin by the end of 2025, is the long term forecast of FXLeaders.
What is BITCOIN CASH?
According to the official website of Bitcoin Cash, the digital asset is peer-to-peer electronic cash which is used for sending and receiving digital money over the internet.
In relation to Bitcoin, it is normally referred to as BCash, a product of hard fork, a second version, altcoin, strand, spin-off or an offshoot.
It is not censored by any intermediaries (traditional banks, clearinghouses or insurance companies).
Who Created Bitcoin Cash and When did it Start Trading?
Bitcoin Cash thrives on the features of the creation of a man with the pseudonym “Satoshi Nakamoto” whose cryptocurrency has served as a template for the creation of other blockchain technologies.
BCH is a clone of Bitcoin and was only created as a split from BTC.
The main proponents of Bitcoin Cash are several members of the Bitcoin Community who felt BTC needs to improve its scalability to facilitate its mainstream acceptance and adoption by well-established institutions.
Bitcoin Cash in Comparison to Bitcoin
Network Speed
It is a known fact that Bitcoin (BTC) and Bitcoin Cash (BCH) both employ the longstanding SHA-256 proof-work-algorithm but an upgrade to the blockchain’s network has given BCH a scalability advantage over its parent crypto (BTC).
Bitcoin can process seven transactions per second (TPS). Aside from this, transactions take a great deal of time before it is confirmed as a result of traffic. Confirmation of transactions can take ten (10) minutes up to one day.
How to Invest in Bitcoin Cash
There are many ways of investing in cryptocurrencies with the popular ones being cryptocurrency exchanges.
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This is the main why we would like to recommend eToro (as the brokerage of choice) as it deals with issues of security and scalability in an efficient manner.