Bitcoin Cash (BCH) is the biggest loser among the top ten cryptocurrencies: Bitcoin Cash price lost all the gains that it had generated amid infrastructural developments and analysts bullish bets. It is down almost 25% in the last seven days alone. The coin plunged to the $1,300 range today after touching three months high at the beginning of the month.
The BCH network is now officially upgraded to 32 MB from 8 MB. Combined with other numerous advantages; the upgrading will significantly improve its transaction processing potential.
The upgrade has also enhanced expert’s confidence on BCH potential to become the largest and widely adopted cryptocurrency.
“Bitcoin Jesus” is Bullish About Bitcoin Cash
Roger Ver – known as “Bitcoin Jesus”, was the biggest supporter of Bitcoin over the years. The Bitcoin expert, however, has changed his stance. He now believes Bitcoin Cash is in the better position to lead the cryptocurrency market.
Roger Ver claims that Bitcoin network is “slow, expensive and unreliable.” As a substitute, he suggested Bitcoin Cash offers fast, reliable and cheap transactions. He says BCH network is built mainly for transactions.
The Bitcoin expert stated: “The economic path that bitcoin cash is on is the one that led to bitcoin’s original success,” Ver said. “I’m incredibly bullish on bitcoin cash for the same reasons I was bullish on bitcoin back in 2011.”
It Will Bounce Back This Year
Brian Kelly, founder, and CEO of BKCM, expects bitcoin to bounce back sharply later this year. He has also been showing strong confidence in future fundamentals of the fourth largest cryptocurrency. Kelly said he is planning to buy bitcoin cash on dips.
“Those are the first things traders look at, that I look at, to say, something might be changing here,” Kelly said. “If we get that breakout, you’re looking at higher moves.”
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