{"id":329343,"date":"2018-04-21T01:00:04","date_gmt":"2018-04-21T01:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=329343"},"modified":"2018-04-20T11:46:19","modified_gmt":"2018-04-20T11:46:19","slug":"anticipation-bitcoin-cash-hard-fork-lifts-price-back-near-1000","status":"publish","type":"post","link":"https:\/\/wncen.com\/opinion\/anticipation-bitcoin-cash-hard-fork-lifts-price-back-near-1000\/","title":{"rendered":"Anticipation of Bitcoin Cash Hard Fork Lifts Price Back Near $1,000"},"content":{"rendered":"
Bitcoin Cash is already seeing a price bump as the next hard fork approaches in less\u00a0than a month. Faster transactions and new operation codes coming.<\/p>\n
As the granddaddy of all cryptocurrency Bitcoin was a revolutionary\u00a0idea built on groundbreaking technology, devised by an unknown, or group of unknown geniuses. But as all things pass even the shine on Bitcoin wore off as it became a medium for investment and crypto traders found it’s transaction speeds too slow and costly.<\/p>\n
This lead to a series of hard forks<\/a> off the Bitcoin blockchain resulting in tokens like Bitcoin Gold, Bitcoin Atom, Bitcoin Private et al. Of which Bitcoin Cash is by far and away the most successful.<\/p>\n Bitcoin Cash is the result of a hard fork that occurred\u00a0in August 2017 which has met investors expectations even through the market difficulties of this year as it came back near $1000 yesterday with the next hard fork looming less than a month away<\/p>\n Bitcoin cash was created to meet the demands of cryptocurrency traders which meant increasing transaction speeds. Thus the block size was increased from 1 to 8 MB bringing transaction speeds down from days to minutes. Bigger blocksize will be the major upgrade in the May 15 fork as it is increased again to 32MB.<\/p>\n The upcoming fork will also add or reactivate several operation codes, this according to James Song, founder, and CEO of blockchain startup ExsulCoin, will allow simple smart contracts to be enacted on Bitcoin Cash. Song was quoted in Forbes<\/a> as saying<\/p>\n “This particular bit of news is what is driving market excitement around bitcoin cash.”<\/p><\/blockquote>\n Bitcoin Cash saw gains of over 9% in the past 24 hours and has risen more than 60% since it bottomed out on April 6 at a low of 603.71 according to coinmarketcap<\/a>.<\/p>\n Bitcoin generally acts as the bellwether for the cryptocurrency market which follows its highs and lows but when Bitcoin Cash was created few knew what the value of it would be. It gained\u00a0almost instant value due to some artificial factors due to difficulties in trading for those holding it in online wallets, fluctuated\u00a0through the autumn\u00a0and then followed in the wake of its namesake’s meteoric ride when it peaked at $4,322 on December 21.<\/p>\nHard Fork Should Push Bitcoin Cash Value up<\/h2>\n