1H
-0.96%$4.93
24H
2.87%$14.18
7D
-1.98%$10.27
30D
7.27%$34.45
Bitcoin Cash demonstrated relative stability on Friday with only a 1.63% decline to $488, outperforming major altcoins that fell 4-5%.
Bitcoin Cash jumped 7% on Thursday, leading top 20 cryptocurrencies as geopolitical tensions fuel demand for Bitcoin alternatives. Search interest rose 28% month-to-date, signaling renewed investor appetite.
Investors and traders should remain vigilant to both technical signals and upcoming events that could impact BCH’s future performance.
According to a July 24 statement from the Mt. Gox trustee, repayments in both Bitcoin and Bitcoin cash (BCH) were made to over 17,000 creditors across three separate distributions on July 5, 16, and 24.
Bitcoin Cash has recently emerged from an inverse head-and-shoulders pattern, a technical formation often associated with upward price movements.
Bitcoin Cash (BCH) is peer-to-peer digital money for the Internet. It sprang out on August 1, 2017, when bitcoin network was officially forked into two separate blockchains creating two cryptocurrencies – Bitcoin and Bitcoin Cash (BCH) respectively.
The main reason for the fork to take place was scalability problem – the original Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second. Although it was technically simple to raise this limit, crypto enthusiasts failed to reach any consensus, even after years of robust debates.
A new cryptocurrency is thought to be backed by a version of the blockchain that boasts a unique technical roadmap. In particular it means adjustable blocksize limit with an increased default of 8MB, replay protection and protection against hashrate fluctuations, improved hardware wallet security, and upgraded consensus rules.
Requiring no third parties in order to operate, Bitcoin Cash is fully decentralized and resistant to any political or social effects on protocol development.
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