{"id":385689,"date":"2019-06-11T07:00:57","date_gmt":"2019-06-11T07:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=385689"},"modified":"2019-06-11T06:27:56","modified_gmt":"2019-06-11T06:27:56","slug":"facebooks-global-coin-is-a-threat-to-bitcoin-cash-bch-down-3-7","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-cash\/facebooks-global-coin-is-a-threat-to-bitcoin-cash-bch-down-3-7\/","title":{"rendered":"Facebook\u2019s Global Coin Is A Threat to Bitcoin Cash, BCH Down 3.7%"},"content":{"rendered":"<ul>\n<li><em>BCH down 3.7 percent<\/em><\/li>\n<li><em>Facebook&#8217;s Global coin will disrupt public chains like Bitcoin cash<\/em><\/li>\n<\/ul>\n<p><em>Because of Facebook&#8217;s broad base and active users exceeding 2 billion, the Global coin is an existential threat to Bitcoin Cash. Currently, BCH is consolidating against the USD, down 3.7 percent. <\/em><\/p>\n<h2>Bitcoin Cash Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>Perhaps, for the neutral, <a href=\"https:\/\/wncen.com\/2019\/05\/08\/another-hard-fork-will-bitcoin-cash-bch-tank-or-soar-in-response\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin Cash<\/a> is indeed what Bitcoin failed to be. That is Cash. According to Bitcoin&#8217;s whitepaper, the peer-to-peer cash system was, first of all, supposed to be a medium of exchange.<\/p>\n<p>However, grappled with <a href=\"https:\/\/wncen.com\/2016\/12\/15\/to-segwit-or-not-bitcoin-scalability\/\" target=\"_blank\" rel=\"noopener noreferrer \">scalability<\/a> concerns forcing transaction fees to spike, <a href=\"https:\/\/wncen.com\/2019\/03\/04\/roger-vers-bitcoin-com-is-reportedly-under-government-sponsored-attack\/\" target=\"_blank\" rel=\"noopener noreferrer \">Roger Ver<\/a> and a team formed a splinter coin. Calling it Bitcoin Cash, it is clear that the objective was to ride on the Bitcoin brand, from there market their platform and eventually replace Bitcoin.<\/p>\n<p>Well, the idea was initially successful as BCH rocketed, but soon, despite the advantages, little to no use left the network exposed triggering a price meltdown. Bitcoin Cash is far from what it represents, and with low media transaction value, recent concerns of an intentional deep chain re-org, it is hard to convince spectators that the network is dominant.<\/p>\n<p>That&#8217;s in spite of what Roger Ver and team insistence. Although they are actively building, the eventual rollout of Facebook&#8217;s <a href=\"https:\/\/wncen.com\/2019\/05\/26\/novogratz-facebook-integral-crypto-bitcoin-hurt-globalcoin\/\" target=\"_blank\" rel=\"noopener noreferrer \">Global Coin<\/a> could deal a final blow to Bitcoin Cash. It may be too early to, but time will tell.<\/p>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-385690\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?resize=1366%2C768\" alt=\"Bitcoin Cash BCH\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Bitcoin-Cash-Daily-Chart-June-11.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/06\/05\/bitcoin-cash-bch-registers-a-double-digit-loss-230-incoming\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin Cash (BCH)<\/a> is stagnating, down 3.7 percent in the last week. Although there are flickers of resistance, buyers have the upper hand. At least that is what we can glean from candlestick arrangement as well as the outstanding trend.<\/p>\n<p>All the same, it will be ideal if there is a sharp break and close above $490 or May high. Such a move will be a pass for traders aiming for $600, satisfactorily reversing losses of Q4 2018. Note that bears are pressing lower.<\/p>\n<p>The longer prices consolidate, the more sellers have a chance to push lower thanks to the bear reversal pattern after May 30th. Therefore, while aggressive traders can buy the dips as long as prices are above $340, conservative traders can wait for a surge above $490 before initiating longs.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>In light of the above, May 30th candlestick leads this trade plan. It is wide-ranging with high trading volumes of 122k. Any surge or meltdown above or below $490 or $340 must be with high participation exceeding 122k. That will either confirm or nullify this trade plan.<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><strong><em>Chart<\/em><\/strong><\/a><strong><em> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BCH down 3.7 percent Facebook&#8217;s Global coin will disrupt public chains like Bitcoin cash Because of Facebook&#8217;s broad base and active users exceeding 2 billion, the Global coin is an existential threat to Bitcoin Cash. Currently, BCH is consolidating against the USD, down 3.7 percent. Bitcoin Cash Price Analysis Fundamentals Perhaps, for the neutral, Bitcoin Cash is indeed what Bitcoin failed to be. That is Cash. According to Bitcoin&#8217;s whitepaper, the peer-to-peer cash system was, first of all, supposed to be a medium of exchange. However, grappled with scalability concerns forcing transaction fees to spike, Roger Ver and a team formed a splinter coin. Calling it Bitcoin Cash, it is clear that the objective was to ride on the Bitcoin brand, from there market their platform and eventually replace Bitcoin. Well, the idea was initially successful as BCH rocketed, but soon, despite the advantages, little to no use left the network exposed triggering a price meltdown. Bitcoin Cash is far from what it represents, and with low media transaction value, recent concerns of an intentional deep chain re-org, it is hard to convince spectators that the network is dominant. That&#8217;s in spite of what Roger Ver and team insistence. Although they are actively building, the eventual rollout of Facebook&#8217;s Global Coin could deal a final blow to Bitcoin Cash. It may be too early to, but time will tell. Candlestick Arrangement At the time of writing, Bitcoin Cash (BCH) is stagnating, down 3.7 percent in the last week. Although there are flickers of resistance, buyers have the upper hand. At least that is what we can glean from candlestick arrangement as well as the outstanding trend. All the same, it will be ideal if there is a sharp break and close above $490 or May high. Such a move will be a pass for traders aiming for $600, satisfactorily reversing losses of Q4 2018. Note that bears are pressing lower. The longer prices consolidate, the more sellers have a chance to push lower thanks to the bear reversal pattern after May 30th. Therefore, while aggressive traders can buy the dips as long as prices are above $340, conservative traders can wait for a surge above $490 before initiating longs. Technical Indicator In light of the above, May 30th candlestick leads this trade plan. It is wide-ranging with high trading volumes of 122k. Any surge or meltdown above or below $490 or $340 must be with high participation exceeding 122k. That will either confirm or nullify this trade plan. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":344607,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16895],"tags":[10765,10736,1985,43487],"class_list":["post-385689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-cash","tag-bch","tag-bitcoin-cash","tag-facebook","tag-global-coin"],"acf":[],"yoast_head":"\n<title>Facebook\u2019s Global Coin Is A Threat to Bitcoin Cash, BCH Down 3.7%<\/title>\n<meta name=\"description\" content=\"With more then 2 billion active users, Facebook&#039;s Global Coin is an existential threat to Bitcoin cash (BCH) despite their active building.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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