Bitcoin Cash Lead Developer Insists No Fork in Sight - BCH News. Friday, September 21
Bitcoin Cash Lead Developer Insists No Fork in Sight
Speaking at the CoinDesk’s Consensus Singapore today, Amary Sechet the lead developer at Bitcoin Cash said that contrary to insinuations that the coin is going to fork soon, the situation within the community is quite different.
Sechet also said that even though the coin community will continue to see forks into the future, most of these will fail. According to him, 99 percent of forks will not succeed because they are unnecessary and arose mainly because people are “fighting with each other" even though they do not really have anything to give.
Bitcoin Cash was forked from Bitcoin after the community could not reach consensus on issues related to scaling of Bitcoin. The Bitcoin Cash fork was supported by entities such as Bitmain, the ASIC manufacturer and mining giant in order to create a version of Bitcoin with larger block size for faster transaction.
There have been recent speculations that a Bitcoin Cash fork is imminent but Sachet said that even though there are disagreements within the BCH community the community is still aligned in most of its core objectives. He said that it is unlikely that the coin will be forked into another.
Sechet however said that the main issue within the Bitcoin community is the promotional approach employed by supporters such as the reference to BCH as the true Bitcoin.
Bitcoin Cash Found Support After Losses
Although BCH has seen losses in recent days, the coin found support at the $410 mark giving it room for recovery. Although the coin is trading at $432, there is a major bearish trend line as can be seen in the hourly chart. This resistance is located at $440.
It is obvious that the $445 to $450 resistances will be defended by sellers making the resistance range remarkable. To make further gains, the coin will need to break the 100 hourly SMA.
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