Bitcoin Cash : The only fork from bitcoin that Survived!

Published 18 Aug 2021 by Radhika Aggarwal

Table of Content

  1. How does Bitcoin Cash work?
  2. Features of Bitcoin Cash
  3. Bitcoin Cash Price Prediction
  4. Bitcoin Cash Future Value Predictions
  5. Bitcoin Cash Price Prediction for the Next 5 Years
  6. Is Bitcoin Cash A Good Buy?
  7. Conclusion

If you’ve been following Bitcoin since its inception in 2009, then you might have heard about the hard fork that happened on August 1st, 2017. As a result, the blockchain network was split into two different coins: Bitcoin (BTC) and Bitcoin Cash (BCH). This article will discuss what Bitcoin Cash is and how it differs from its predecessor. We’ll also talk about the price prediction for BCH!

Bitcoin Cash is a cryptocurrency created in 2017 when the Bitcoin blockchain network underwent a hard fork. The goal of this project, led by developer Roger Ver and other key players, such as Bitmain co-founder Jihan Wu, is to make bitcoin transactions faster and cheaper with an 8MB block size limit (which compares favorably with Bitcoin’s 1 MB). In addition to being less expensive than its predecessor before it, there are merchant acceptance options like PayPal, which can be used at certain merchants.

The Bitcoin Cash (BCH) hard fork was meant to solve many of bitcoin’s longstanding issues. Instead, it caused a rift in the crypto community, with some arguing that BCH will be the future asset and others believing it will never replace BTC. Although disagreements over which cryptocurrency is superior, these two assets can easily coexist because they offer unique advantages for their respective audiences.

How does Bitcoin Cash work?

Bitcoin Cash is a new form of cryptocurrency, rivaling its predecessor, Bitcoin. The two currencies work in much the same way; both are capped at 21 million coins and use a PoW consensus algorithm to validate transactions from nodes on their networks. However, BCH has an advantage over BTC thanks to larger block sizes that let it process more data for each transaction than its counterpart can handle - this makes it better suited for smaller-scale purchases like buying coffee with crypto!

Bitcoin Cash holders are grateful for introducing new protocols like CashShuffle that make their transactions private and harder to trace. The protocol shuffles Bitcoin cash with other users before a transaction, which means your wallet address no longer reveals who you’re sending money to or how much. Imagine not having to worry about someone tracing back where all your Bitcoins went!

Features of Bitcoin Cash

Bitcoin Cash was created as a result of dissatisfaction with Bitcoin Core. It is designed to have more capacity for transactions and addresses other technical issues to make it faster, cheaper, and reliable. The core features are:

Open to anyone

Bitcoin Cash is open for anyone as it is not controlled or owned. There’s no CEO, and you don’t need to ask for permission to use it. You can easily buy Bitcoin Cash from various exchanges such as cxihub, Wazirx, Coinbase, etc.

Pseudonymous

Identities are not tied to transactions. This helps to ensure that Bitcoin Cash remains free to be used by anyone, without censorship.

Transparent

All transactions are recorded on a global public ledger called the blockchain. The ledger is updated at regular intervals in blocks that are connected to form a chain. This allows anyone to see the full history of ownership easily and helps to eliminate the potential for fraud.

Distributed

The public ledger (blockchain) is stored voluntarily by a network of participants known as ‘nodes.’ This helps ensure the longevity of information.

Rules-based

Nodes follow a set of rules (a protocol) to achieve consensus on the ledger’s state. This consensus is what constitutes the ‘truth’ as to who owns what. The protocol, however, can evolve as participants demand - although there is a high degree of consensus required to make changes. This makes Bitcoin Cash a quasi-political system, with participants forming a kind of social contract.

Immutable

The technology deployed means that, once recorded in the blockchain, transactions effectively cannot be altered.

Secure

Through a process known as Proof of Work (PoW), ‘miners’ compete to add new blocks to the chain that constitutes the ledger (again, the blockchain). The hardware and energy costs associated with PoW mining contribute to the network’s security along with game-theory-driven principles. Attacking the network is prohibitively expensive and guarantees the attacker cannot profit directly.

Fixed supply

Only 21 million coins will ever be created. This makes Bitcoin Cash a hard asset, like land or gold, providing an opportunity for people to store value in the digital realm over long periods of time.

Low Fees

Bitcoin Cash enables reliable, fast, and affordable transactions of any value and regardless of location (including cross-border transactions). This makes it an effective alternative to payment networks like Visa and Mastercard.

Bitcoin Cash Price Prediction

Bitcoin Cash Price Prediction

Bitcoin Cash, a cryptocurrency with a current market cap of $7 billion (as of November 15th), is making gradual progress in taking over the third-largest position from Ethereum and has been predicted to outperform crypto traders/enthusiasts. Unfortunately, Bitcoin Cash had to make an immense effort forking itself out of its origin after creating it as a fork on August 1st, 2017. Still, now that it’s taken off without any substantial competitors remaining among cryptocurrencies, there are high expectations about how well the coin will perform during 2021, when many countries have already adopted or plan to adopt BCH payments.

Bitcoin Cash is currently trading around $500 with a circulating supply of 18,778,050 BCH. The market capitalization shows a solid $9,591,626,237. With the recent ruffled moves in the cryptocurrency industry and with experts predicting that Bitcoin cash will make its comeback soon enough as more developments are done on innovation and development for this project, there’s no doubt that not only does BTC have some history left to trade-off but also other currencies look up to them as well because they share so many similarities between each other such as being decentralized cryptocurrencies which were created by exchanges - allowing individuals or businesses alike all over the world to transact without having any need for an intermediary institution like banks!

Bitcoin Cash Future Value Predictions

The year 2022

The Bitcoin Cash market sentiment has been positive in recent days with the looming of a new pandemic. The Pandemic is expected to create an upswing for BCH and BTC, poised for growth under this scenario.

The beginning year had seen some tough losses on behalf of Bitcoin Cash as its price sunk drastically below the $800 mark amid bearish trends that have resurfaced since December 2018 - January 2019. But now there’s light at the end of the tunnel after news about possible global flu pandemics surfaced last month; these speculations drove prices upward, hitting almost 850$ while it also strengthened bullish momentum alongside other cryptocurrencies such as bitcoin (BTC).

The Year 2023

The Bitcoin Cash price has fluctuated for the past few years, but it is expected to peak in 2022. However, by 2023 there will still be a chance that BCH might lose some ground because of other competitor cryptocurrency coins and market fluctuations. Nevertheless, it can also go up again with a predicted value surpassing the $1000 mark before 2020 ends or, beginning 2021, starts.

The Year 2024

Bitcoin Cash, a cryptocurrency that has been around for over 4 years now and is the fourth largest in market cap size, will likely sustain itself as an investment due to its reliability. Bitcoin cash’s price was predicted at $1300 by experts close to the crypto industry who are confident about this prediction because of recent insights from traders on how BCH can dominate against other cryptocurrencies like Ethereum or Litecoin.

Stating that bulls may ride the crypto-market, it is expected that bitcoin cash (BCH) would rule with a performance priced at 1300 US dollars which equals what they were predicting the last year 2021, showing full growth potential even under adverse conditions.

The Year 2025

The Bitcoin Cash price has increased dramatically over the past few months, and if this trend continues, a single coin may be worth as much as $1500 in the future. However, to reach such heights, BCH will need two things: firstly, for bitcoin’s success story to continue unabated; secondly, markets must remain favorable.

Bitcoin Cash Price Prediction for the Next 5 Years

The resistance continues to be supported at the $ 700 and $ 1070 levels, extending 23.6% at the Fibonacci retracement levels. A bullish breakout of the $ 1065 level may be the catalyst for further buying until the $ 1,695 and $ 2160 levels extend 38.2% and 50% from the Fibonacci retracement levels.

In a lower time frame, BCH has visualized a head and shoulders pattern. The formation predicts a reversal from a bullish to a bearish trend. Likewise, the pattern is one of the most reliable trend reversal patterns.

Is Bitcoin Cash A Good Buy?

Like any other investment, investing in Bitcoin Cash has its benefits and risks. It is recommended to arm yourself with as much knowledge about the currency before buying or selling it because you can never know when a price will go up again! So whenever you feel like making a long-term commitment, take some time out for research so that your money doesn’t just fly away into thin air.

Researching BCH is not too difficult; many people have made predictions on what they think it will be worth next year, but only one person knows which prediction will end up being true–the future investor himself!–so make sure to do this step thoroughly!

Conclusion

Bitcoin is a decentralized digital currency created in 2009 and was recently split on August 1st, 2017. Blockchain technology serves as the public ledger for all transactions of this cryptocurrency. The blockchain uses cryptography to verify each transaction which prevents fraud or counterfeiting from happening. This article will provide insight into Bitcoin Cash and how it differs from its predecessor, Bitcoin (BTC). We’ll also talk about where you can buy BCH!

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