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    Sumit Bera

    Bitcoin Cash July News

    Bitcoin cash news

    Recent statistics show that the number of BTC holders making a profit at the current price is around 73%. While for BCH holders, this figure is about 83%, and the number of large Bitcoin Cash holders is growing. Has the altcoin season touched BCH? Let's take a look in this article!

    What is Bitcoin Cash?

    To understand completely about Bitcoin Cash in the sense of a cryptocurrency, we need to take Bitcoin into account first. Bitcoin is a cryptocurrency or digital currency (for easier understanding) and its network can process 7 transactions per second. It is honestly slower compared to even the credit card company Visa Inc., which makes an average payment transaction of 1700 per second. This transaction problem had to be solved and scaling Bitcoin was thought to be close to impossible before 2018. Also, the crypto community wanted more from Bitcoin, so some of the BTC miners and developers in August 2017 created a hard fork in the blockchain of Bitcoin and created a new cryptocurrency called Bitcoin Cash. With its own blockchain, Bitcoin Cash worked out almost all the problems with Bitcoin. In short Bitcoin Cash is Bitcoin with a larger block size which can make more transactions per second.

    Bitcoin Cash Popularity

    Ranked 5th in the cryptocurrency market as of July, Bitcoin Cash has gained massive popularity among the cryptocurrency community. The market cap of Bitcoin Cash is $4.5 billion and the price was at its highest peak at around $4355.

    Real-World Use of Bitcoin Cash

    People’s favourite food and people’s favourite cryptocurrency meet in one place in Japan. Ginza Numazuko, a sushi bar, decides to be the first business to accept Bitcoin Cash in Tokyo. They accept Bitcoin Cash just like Japanese yen and exchange BCH to yen later on in Coincheck, a Japanese local exchange. There are many restaurants, coffee shops or supermarkets popping up, where you can easily pay with your Bitcoin Cash Wallet.

    Ginza sushi bar accepted BCH

    One more highlighted example is the Tus supermarket chain in Slovenia. With the help of Eligma company, a crypto payment merchant provider, the supermarket has been taking Bitcoin Cash as payment for groceries.

    Bitcoin vs Bitcoin Cash — who is winning this fight?

    If we compare such factors as network speed, block size, transaction time, BCH is way ahead of BTC. Still, Bitcoin is more popular, and it also is valued higher in respect to USD compared to Bitcoin Cash.

    Bitcoin Cash August 2020 Price Prediction

    The current price of Bitcoin Cash stands at an average of $250, with Bitcoin rallying up a bull run $10k. The price of altcoins such as Bitcoin Cash is predicted to go up. According to different forecasts, the price of BCH can be safely predicted to hit the $500 for highs and $230 for lows. 

    The Chart for Bitcoin Cash as of July 27 2020 with a price of $250.

    Coindesk BCH chart

    Bitcoin Cash Facts Summarized

    Bitcoin Chart shows Bitcoin crossing the $10k margin.

    Coindesk BCH chart 2

    Bitcoin Cash is a good investment right now, because of the increasing real-world  use of the coin, and with a high transaction rate, the next top cryptocurrency can be Bitcoin Cash for easier payments and a true competitor to Bitcoin and Ethereum.

    Disclaimer: We are not financial advisers, make your own decisions before making any kind of investments. We are only providing information based on the news.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.