Is Bitcoin Cash Dead? • Crypto Analysis • Benzinga

bitcoin cash is a form of peer-to-peer payment with a larger block size than bitcoin. This larger block size helps make the chain less congested, giving you fast and cheap transactions in the process. bitcoin cash forked from bitcoin in 2017.

Along with the larger block size, bitcoin cash also made its chain smart contract compatible, allowing decentralized applications to be built on top of the chain. most features remain the same as bitcoin, including a hard limit of 21 million coins and a proof-of-work (pow) consensus method.

Reading: Is bitcoin cash dead

the underlying code of bitcoin was modified by a group of developers in 2017, which forked the bitcoin cash chain; Its BCH currency closely follows the price movement of Bitcoin. The idea of ​​making bitcoin easier to transact is an honorable one, but its gold-like store of value and security may have been compromised in the process.

why is bitcoin cash down?

The entire cryptocurrency market is down following an 8.6% rise in the cpi last week. The rise in the consumer price index was much higher than expected and came during a federal tightening cycle, making it very bearish for the markets. this spike in inflation has refuted the narrative that inflation is transitory.

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Investors are rushing for liquidity, crushing stock and crypto markets. Fears of stronger moves by the Federal Reserve to rein in inflation have hit markets around the world. the fed will meet this june to discuss future actions. the expected 50bp rise could turn into a stronger move, perhaps up to 75bp. President Jerome Powell’s tone on inflation will also be important. If Powell sounds too harsh, it could result in further pain for the markets.

bear markets tend to last just under a year, or about 10 months. racking up big positions when assets are cheap is how many build wealth. buying when others are afraid has been a strategy used by many great investors; With few wanting to touch risky assets, it may be time to start accumulating. Whether bitcoin cash is the right risk asset for you is a decision you need to make.

bitcoin cash price movements

bitcoin cash (bch) hasn’t gotten much publicity lately. with worsening market conditions, its value fell in 2022 from over $390 per coin to just over $130 per coin. bitcoin has also had a rough year, dropping its price from $47,000 to $25,000.

If this market continues to be bearish, bitcoin cash is a name that will likely get squashed. a coin with few developers, use cases, or any real value outside of speculative investment is destined for a bumpy ride when liquidity in a market dries up.

Bear markets have occurred where currencies lost up to 99% of their value but came back stronger in the next bull market. even if bitcoin cash were to lose most of the value, you should hesitate before declaring it dead.

cryptocurrency market cycle

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It looks like the market cycle is headed for a crypto winter. bitcoin and other altcoins are crashing, stablecoins are failing, and investor sentiment is low. all signs point to a bear market, but this time it could be exciting for crypto investors. money is made in bear markets and made in bull markets.

Coupled with great buying opportunities, investors see the cryptocurrency market more clearly. when the market is pumping, it is much more difficult to understand which crypto projects have real value. when everything gets tense, the values ​​realign.

The technology underlying these cryptocurrencies has not changed; market conditions and consumer sentiment have. keeping a cool head is important, and making emotional trades is rarely a good strategy. By following a dollar cost averaging strategy, you can help eliminate emotional trading. this practice can reduce panic selling and keep you from overexerting yourself with these attractive new prices.

where to buy bitcoin cash

bitcoin cash is available for purchase on a number of trading platforms, most notably coinbase global inc. (nasdaq:coin). another option is to use a decentralized exchange (dex). to use a dex, a non-custodial wallet is needed. some leading non-custodial wallets include metamask and coinbase wallet (different from your trading platform).

so bitcoin cash is dead?

bitcoin cash may not survive this market selloff. Historically, a long list of currencies do not survive bear markets. With few bullish cases, bitcoin cash could join the long list of dead coins. If the markets reverse, bitcoin cash will likely rise with bitcoin. however, if it’s a prolonged crypto winter, there’s no telling if bitcoin cash will ever return to its all-time highs.

See also: A crucial clue in the 4.5 billion Bitcoin heist: A 500 Walmart gift card | Fox Business


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