Bitcoin Cash Is Advancing: How Will It Impact the BCH/USD Price?

Bitcoin Cash arrived as a fork to Bitcoin that aimed to address the high fees and long processing times associated with transactions. Anyone who owned Bitcoin at the time of the hard fork was able to get the same number of the Bitcoin Cash coins as well, and it is still possible to claim your BCH if you have not done so yet. Bitcoin Cash made significant improvements to the original protocol, and the blockchain has continued to advance. This leads cryptocurrency investors to wonder whether the network will continue its advancements and what impact it will have on the BCH to USD price.

Bitcoin Cash Is Advancing How Will It Impact the BCH USD Price


Bitcoin Cash Is Advancing: How Will It Impact the BCH/USD Price?

How Bitcoin Cash Improved on Bitcoin

Right from the start, the team behind Bitcoin Cash aimed to improve on issues of scalability with Bitcoin. Compared to Bitcoin, Bitcoin Cash is faster as well as cheaper, something the larger block sizes of Bitcoin Cash significantly impact. Additionally, Bitcoin Cash relies on zero-conf, a system that allows for near-instant confirmation on the next block.

When the hard fork occurred in August 2017, Bitcoin Cash had a maximum block size of 8 MB. By comparison, Bitcoin began with a limit of 1 MB, which it has since increased to 2 MB. Thanks to the recent Bitcoin Cash upgrade of a block to 32 MB, it can now handle a huge number of transactions daily.

To summarize, Bitcoin Cash improved on Bitcoin with:
● A larger block size;
● Near-instant confirmation;
● Enhanced scalability.

Looking at Past Dramatic Price Changes for BCH

To get a better feeling for the future prices of BCH, you can look at its history, knowing that this will not necessarily be a perfect indicator. One notable change in price was around Nov. 12, 2017, when the price of BCH rose dramatically in a single day. Luckily, experts have a fairly good idea of why this spike occurred.

Part of the problem was that Bitcoin was doing poorly at the time with around 10,000 pending transactions from lowered hashing power. That caused many people to switch to Bitcoin Cash. Basically, those in the world of cryptocurrency recognized that Bitcoin Cash would not suffer from the speed issues of Bitcoin. The spike in BCH price may have also been because Bitcoin Cash includes an EDA algorithm that ensures network stability in periods of high load.

What About the Further Moves of BCH?

Predictions on the further price moves of the coin are somewhat mixed. Roger Ver , for instance, feels that BCH will eventually have a larger market cap, trade volume, and user base. If his prediction comes true, BCH would likely rise in value against USD. Others predict that the price will rise once people realize how practical BCH is thanks to the ability to easily buy goods and services with it.

However, there are plenty of people on the other side of the spectrum who feel that despite the occasional spike in value, Bitcoin Cash will not see a significant increase over time and will certainly not catch up to Bitcoin. Some say that Bitcoin Cash will do well in the short run, experiencing a rise in the BCH/USD price, but it will not be able to maintain this in the long run. These experts point to the lack of infrastructure behind Bitcoin Cash compared with Bitcoin. Others just feel that Bitcoin has had too much of a head start.

Current BCH/USD Prices

While comparing Bitcoin Cash to Bitcoin is a simple way to see what experts think will happen with the cryptocurrency, it is not the only factor at play. After all, if Bitcoin’s value drops significantly, even if Bitcoin Cash stays lower than it, this could represent an increase in value for Bitcoin Cash. At the time of writing, the value of Bitcoin Cash is $759.63 or 0.099 BTC. Even so, BCH is ranked number 4 according to CoinMarketCap, showing that it is incredibly popular and has a significant amount of the market share.

BCH/USD Price Trends

With the current value of BCH in terms of USD in mind, it is time to explore the patterns of this trading pair as well as predictions. Smartereum, for instance, points out that Bitcoin Cash has had a bullish market against USD and has gone above the resistance levels of $840 and $850. The site also points to expert analyses of Bitcoin Cash price trends that say it may reach resistance levels of $890 and $900 soon. The same website is reporting a MACD in the bullish zone and a relative strength index above 55, both of which are positive indications for the growth of BCH.

Advancements and Their Impact on Price

Those in the crypto community point to the various advances recently made to Bitcoin Cash as indications that it will likely rise in the future. After BCH increased its block size to 32 MB, it should make Bitcoin Cash even more scalable, which is already one of the strongest points in favor of the coin. It will essentially ensure that the low transaction fees and short transaction times remain. This most recent announcement of the increase in block size has attracted more investors. As more advancements to Bitcoin Cash come, these will likely continue attracting investors, which, in turn, may increase the BCH price.

Conclusion

There is never any certainty on prices in the world of cryptocurrency, but the advancements to Bitcoin Cash do increase the chances that this crypto will experience an increase in price against USD. While opinions of how BCH will fare against BTC vary, comparing it to USD will likely show a favorable result, at least in the short term. From there, expert opinions vary as to the movements of BCH/USD in the more distant future.

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Bitcoin Cash Is Advancing: How Will It Impact the BCH/USD Price?
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Bitcoin Cash Is Advancing: How Will It Impact the BCH/USD Price?
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This leads cryptocurrency investors to wonder whether the network will continue its advancements and what impact it will have on the BCH to USD price.
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