With the future of Bitcoin saga dwindling on the eve of hard fork, analysts are keeping their hope up with predictions of a bullish outcome. Industry observers are waiting eagerly for the potential split which will give rise to a new form of cryptocurrency called BitcoinCash (BCH). The Bitcoin network had been struggling for years with its long queue time, block size and expensive transactions.
The block size of the new BitcoinCash (BCH) which is going to become a reality after 1st August will be 8MB in comparison to 1MB block size of Bitcoin presently. This superior block size can attract more investors to come under the Bitcoin Cash flagship causing a steep decline in this cryptocurrency price.
Sean Walsh who is a partner at Redwood City Ventures expects great things out of BCH which is surely going to turn tables in spite of having lower market capitalization at present. Banking on its high velocity of growth, the still-nascent cryptocurrency has already garnered followers all across the globe.
The planning and execution of the actual launch have been going according to guidelines which have helped in moderating its price bend. But if it can manage to score high on the adoption and support parameter then it can overtake the conventional Bitcoin in no time.
The possible split has roped in extreme volatility in the price of the cryptocurrency which jumped up to $3000 before falling down to $1800 in the last few months . owever notable gains would be experienced by the cryptocurrency sector if the split proceeds peacefully. Such differentiation will allow bigger choices to investors.
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