It is aimed at all types of enthusiastic public for cryptocurrencies and tokens in general. Personally, I try to make my content educate the reader so that - according to their abilities - the words and concepts of this magnificent cryptocurrency world. In this context, I invite you to read my article.
Why Bitcoin Cash (BCH)?
Why have various investors preferred BCH to Bitcoin (BTC) lately?
Let's start with the basics:
Transaction fees. High bitcoin transaction fees do not represent an option to reduce the transaction costs of online payments, which negatively affects a large portion of the market.
On the other hand - and this is important if we take into account the large mass of BTC users - in terms of the common user dealing with small amounts of satoshi - I'm talking about Juan del Pueblo looking for extra money through taps. or to those who invest low due to low resources, etc - many of these small amounts are unavailable (ie they are not mobile as transaction fees are higher than you want to transfer). I think this gives a negative impression to Bitcoin.
To the above, let's add the accumulation of bitcoin transactions currently on the blockchain network. In this sense, there is a rule that does not fail; The higher the accumulation, the higher the estimated fee to confirm your transaction and jump the queue. Results: Incoming transactions are delayed for hours, even days, to be confirmed in a block. Therefore, sometimes days pass before we see satoshi reflected in our wallets (for example, unless we pay high fees for deposits in less than 4 hours).
In this context, it is clear that BCH works with better benefits. They can send and receive quickly and best of all for low fees (about $ 0.019). BCH works ideally for micro transactions as opposed to BTC, whose current average transaction fee is around $ 24 (this is, according to data from blockchain explorer Blockchair, 02/01/2021). As I mentioned earlier, it's important to note that these rates are constantly changing depending on how busy the network is. For example, on April 21, the transaction fee for BTC was $ 65.
Results: Speed, reliability, low fees, simplicity, stability and security make BCH stand out. It is only a matter of time before this cryptoactive is fully consolidated as an alternative project to other altcoins we know of. In fact, some people wonder if Bitcoin Cash can dethrone Bitcoin. I don't know how far Bitcoin Cash can go in your expectations, but I can assure you; If BCH is an optimized version of the pioneer Bitcoin, no matter how complicated your ambitions may seem, they can compete to replace it.
In addition, I would like to share with you the graph and analysis I reviewed the other day for BCH.
There is a strong resistance between $ 1036 and $ 1080 (the range of this resistance starts at $ 1036, the red line on the chart, and ends where the blue hand showing the upper Bollinger band is seen). In a way, it is a double armored resistor. Many sales orders have been placed in this price range. If the bulls want to test $ 1220, they must literally eat all those orders that act as a wall to prevent BCH prices from rising. However, on the third day of trying to pierce this resistance - the last 3 candles - the goal was not reached is alarming. The maximum amount that BCH has reached in recent days is $ 1050. Logically, this weakens the momentum and causes a temporary retracement in the short term.
Take a look at the yellow hand pointing to the MACD indicator. Note that the upward crossing of the blue line over the red line in this time frame (one day candles) is not yet defined.
Although the MACD has not yet been defined, the RSI continues to show signs of expansion from current values (direction of the purple arrow) to higher values. In other posts, I have commented on the MACD and RSI indicators, their values, and their specific properties to support the increase in a particular asset.
The volume of purchases in the BCH market is still low (see columns enclosed in ellipses). As I said earlier, it doesn't do much to increase the price of Bitcoin Cash.
I hope my article has been useful and knowledgeable for you. I am waiting for your likes and comments.
I also like bitcoin Cash it is my first choice 👍