BCH - Faster Transaction Leader Than BTC - Kakiforex.com - Financial Market Media No. 1 in the World BCH - Faster Transaction Leader Than BTC BCH - Faster Transaction Leader Than BTC
InstaForex

June 16, 2021

BCH - Faster Transaction Leader Than BTC

 In 2017, the Bitcoin project and its community split in two due to the resulting concerns about the scalability of Bitcoin. So the result is Bitcoin Cash through Hard Fork which at the same time, the block size on Bitcoin Cash is increased from 1MB to 8MB.


The increase in block size can also support Bitcoin Cash in doing more transactions per second (TPS) while maintaining a very low charging rate.


Indirectly it can also solve the problem of payment delays and high fees experienced by some users on the Bitcoin network.


Bitcoin Cash was also developed as a peer-to-peer electronic cash system that aims to be the best global money with fast payments, privacy, high transaction capacity (large blocks) and meet the demands of global payment systems.


Looking at the BCH/USDT chart, the BCH price has exhibited a jump of over 500% in the 2021 market to record an all -time high (ATH) at the $ 1,650 price level.


The surge was also supported by the listing of Bitcoin Cash on the LUNO platform on May 5th.


After almost 8 days of BCH listing on the LUNO platform, the BCH price movement again made a drastic decline up to the support level around $ 500.



However, at the $ 500 support level, the BCH price made a slight jump to test the SBR (support become resistance) level around $ 800 before testing the $ 500 support level again.


The next expectation is that the BCH price will make a rise to test the SBR $ 800 level again if the Bitcoin price continues to trade above the $ 40,000 price level.


If the BCH price movement continues to make a jump, the next SBR level around $ 1,000 will be tested first before jumping higher towards the ATH level of $ 1,600.


If the momentum returns to the downtrend, the $ 500 support level will remain the key level to be tested to support the price back making a rise.


On the other hand, if the price decline continues, the price is expected to head to the lowest level around $ 340- $ 360 which is the price level at the opening of the 2021 market.


As of 4.00pm local time, the BCH price slightly jumped around 1% to trade at the $ 645 price level.