Bitcoin Cash Price Prediction and Analysis: More platforms to accept BCH instead of BTC! Saturday, May 26
Bitcoin Cash vs Bitcoin
The project wanted to improve the old currency in terms of utility and transactions. It has an increased block size of 8mb, which helps to accelerate the verification process, with an adjustable level of difficulty to ensure the chains' prosperity and transaction verification speed, regardless of the number of miners supporting it. On the other hand because of these features many people have concerns when it comes to the security. There is also a potential problem with the coin being centralized, as there may not be enough independent miners.
Bitcoin Influence on the market
As always, Bitcoin by being the leading and most established cryptocurrency in the market has enormous influence on other coins. Most of altcoins follow its price movement, therefore with any significant price fall most of other coins drop in price as well. Bitcoin has recently being very volatile, which notable price spikes. It is currently trading at around $7500 and seems to stabilize a bit.
Bitcoin Cash important news
When it comes to Bitcoin Cash, which is one of the better prospering recent Bitcoin forks, there has been few notable news and information which can affect the price and further development of the project.
Luxury company to accept BCH
The White Company, which is founded by former Formula 1 executive, offers a variety of high class and luxury services and products, like expensive fine watches, sport cars or private jets and rare artwork for example. They wanted to benefit from cryptocurrencies as the payment method and noticed that Bitcoin Cash offers lower fees than regular Bitcoin. Elizabeth White said: "I have watched with interest both the growth and the early-adopters of bitcoin cash and I can see that the White Company and BCH are natural partners."
Cheapair.com announces crypto payments
Online travel agency, Cheapair.com has recently announced that they want to connect few cryptocurrencies to their platform. CEO Jeff Klee has said: "Our cryptocurrency customers tend to be very vocal about what they want, something we appreciate very much. Over the last six months, we've seen a huge uptick in the number of customers requesting alternative currencies, so we've worked hard to integrate the three that were most requested." Bitcoin Cash was chosen alongside with Dash and Litecoin. It shows that many companies are keen on trying crypto payments and are looking for Bitcoin alternatives, which can provide faster and cheaper services.
BCH Price Analysis
The price fell with the whole market, noting a sudden drop from $1046 to $959. Within few hours it got back above $1000 and even raised further to $1067. There were then another few rapid drops. BCH price seems to have stabilized by now and is setting off to its slow journey back to the previous prices of $1300 region which it traded at couple of days ago. Currently BCH is worth $1036.39.
BCH/USD Price Chart, Saturday May 26:
BCH Price Prediction
When it comes to future prediction of Bitcoin Cash, there are two things to consider. First of all, it will probably stay in the shadow of Bitcoin for a long time, always being recognized as the fork and not full project. However, technologically it has high chance of surpassing Bitcoin and that's what people will notice in the future. Even now, there are many services which decide to accept BCH instead of BTC for payments. Assuming, bitcoin going to the moon later in the year, BTH could easily achieve current BTC prices. Therefore, a confident and optimistic prediction would estimate it at around $6000 at the end of the year in case of bullish market.
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