Bitcoin cash is a peer to peer electronic cash. Here the transactions are much more convenient and have lower fees than that of BTC. All BTC holders of block 478558 are also owners of bitcoin cash. It was created to overcome two main issues of BTC- with the increase of scalability, BCH can do more transactions than BTC and to reduce the transaction fee than BTC. BCH is more attractive to the miners than BTC, and this is the reason why it can grow to a very great extent in the future.
Current status of BCH
Current market value: $296.82 USD
Current market cap: $5,274,063,712 USD
Market rank: 4
Circulating supply: 17,768,413 BCH
Bitcoin Cash Price Analysis
The above chart shows the following information
- Present trading value: 297.87 USD/0.05004419 BTC (UTC time 03:13)
- Market cap: 5,292,765,411 USD
- 24h volume: 1,792,222,887 USD
The same chart also makes it evident that approx. 1 month earlier, BCH had a trading value of 277.51 USD
So, within this approx. 1 month, the value of BCH has increased by 7.33%.
Bitcoin Cash Price Predictions
BCH is soon going to add Schnorr signatures on the Mainnet by replacing the Elliptic Curve Digital Signature Algorithm (ECDSA)- the legacy of the signature protocol of the real BTC. The benefit of Schnorr signature is that it can make transactions much leaner and thus, several signatures can be verified simultaneously. Previously, it was not implanted by BTC due to the patent conditions surrounding the BTC developers. Those conditions are currently lifted, and BCH has seized this opportunity to compete against OG crypto. Schnorr signature will add privacy, speed, and security to transactions for each signature will occupy very less space. With its implementation, BCH will get quite a few steps ahead of BTC so far, an efficient mean of payment is concerned. This is really a great advantage that BCH developers will be incurring on its network as BTC still faces a lot of scalability issues.
With this amazing improvement coming soon this month, we hope that reliability and convenience while doing the transaction over BCH will be highly improved, and it will significantly impact its persistence of a bullish trend. As per BCH Price Prediction, BCH to be around $1800 by the end of 2019 as it is significantly improving itself, and crypto market volatility will also get lowered by then.
With the above update, BCH will give a tough tier to BTC, and it will definitely spike up. It is worth investing in BCH on a long-term basis.