Bitcoin Cash Gets A Boost In Adoption With Price Heading Towards Significant Resistance

Ever since Bitcoin Cash was derived from Bitcoin, it has been among the top cryptocurrencies in the market. The Bitcoin Cash community believed that Bitcoin Cash will be the one true Bitcoin. While that vision hasn’t been actualized yet, Bitcoin Cash has still gone far in its might. It is ranked as the 4th largest cryptocurrency in the world per market capitalization and the adoption is increasing on a daily basis. More and more people are learning about the hard fork.

How Is Bitcoin Cash Doing?

In a time when the market is bearish, adoption, developmental progress and community strength are key factors that influence the survival of a coin. Bitcoin cash is gradually becoming an ideal medium of exchange that guarantees affordable payments. Bitcoin cash hasn’t just increased its fan base and grounds, the launch of BitcoinCashTalk Forum has promoted open-minded, censor free communication within the Bitcoin Cash community. The Bitcoin Cash block size has also been increased to 32 MB in preparation for more adoption.

Bitcoin Cash (BCH) Price Today – BCH / USD

Name Price24H (%)
Bitcoin (BTC)
$3,364.05
-2.24%
Bitcoin Cash (BCH)
$95.75
-4.97%

Also, the Bitcoin Cash development community is making plans to split the network before the end of November. At the time of writing, there is an ongoing debate regarding the best ways to address important issues before the split. With or without a spilt, Bitcoin Cash is doing remarkably well as a superior type of money that offers low fees. It is being used not just as a medium of exchange but as a store of value among cryptocurrency fans. The network is capable of handling several transactions because of its widespread decentralized nodes and robust framework.

Bitcoin Cash Price Analysis

Main while, the price of Bitcoin Cash is making progress against the USD and against Bitcoin as it is heading towards a significant resistance around $600 long-term. It’s true that the sellers have been in control of the market for a while but the depth of the correction shows that Bitcoin Cash will soon bounce back to $600. Right now, it is trading at $513.34. This shows 2.68% fall against the USD and 2.18% against Bitcoin.

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