Users Encouraged to Download the Latest BCH Update In Preparation For Upcoming Fork - Bitcoin Cash News, BCH Price Chart. Thursday, August 23
Important Bitcoin Cash Cryptocurrency News
Users Encouraged to Download the Latest BCH Update
Bitcoin ABC, the official developers behind the Bitcoin Cash network has asked users to download the latest update of the BCH client. The team says that this will be essential in ensuring the users derive the maximum benefit accruable from the November 18 hard fork coming up just 95 days after the May 15 fork.
According to the team, the November fork will create the “sound money” that everyone is looking up to as well as make the digital currency scalable creating more utility for Bitcoin Cash.
The release added that the fork will be in the best interest of all participants of the participants of the network such as miners, users and investors. The new order will be employing a more superior transaction method called Canonical transaction ordering in place of the current Topological transaction ordering. The former will enable an efficient block emission and propagation.
This is coming after the blocksize of Bitcoin Cash has been increased from 8MB to 32MB and the network working on the introduction of a smart contract enabling Wormhole protocol.
Bitcoin Cash Fails to Hold Above $540
The recent Wednesday spike in the value of altcoin saw BCH trade at $562 well clear of the $540 resistance but the coin has retracted shedding more than $30 as at the time of filing this report.
There has been a break of a major bullish trend line with support at $530 even as the coin is presently trading at $529.81. The decline is an indication that there has been more sell-offs with a support located at $500 remains at risk with more losses imminent as the bearish trend persists.
BCH has not performed badly on the weekly charts due to higher highs presently shedding less than one percent. What is obvious though is that sellers are having an upper hand.
BCH/USD Price Chart, Thursday August 23rd:
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