Bitcoin Cash is one of the most successful fork of Bitcoin.
Some Bitcoin miners started questioning Bitcoins ability to scale. Transactions on Bitcoin network were very slow and expensive. In the beginning, Bitcoin could process 7 transactions per second. When users started growing, waiting times started become longer because there were more transactions to process without a change in the underlying technology that processes them. That is when Bitcoin Cash came into picture to solve this problem which started affecting BCH price.
Developers and cryptocurrency miners have come up with two major solutions to this problem. The first involves making the amount of data that needs to be verified in each block smaller, thus creating transactions that are faster and cheaper, while the second requires making the blocks of data bigger, so that more information can be processed at one time.
BCH vs BTC
BCH – 10 minutes, BTC – 100 minutes
Approximate cost per transaction:
BCH – 0.18 cents, BTC – $20
BCH – 8 MB, BTC – 1 MB
Transaction per second:
BCH – 24, BTC – 7
Let us review BCH price
BCH/USD – Price Prediction
BCH is currently trading just above the support zone of $1110. If it can stay above this support, we could start seeing a move towards $1323, $1455, $1561 and $1668. If it can break the resistance at $1661, we could start seeing a bigger move towards $1820, $2013, $2571 and $3474.
Failure to hold the support at $1110 could lead to a drop towards $946 and $761.
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