Bitcoin cash: CEO says he’s ‘incredibly bullish’ and long-run trend is for bitcoin BOUNCE sponsored by City & Business News Bitcoin cash: CEO says he’s ‘incredibly bullish’ and long-run trend is for bitcoin BOUNCE BITCOIN cash plunged in recent months amid increased pressure to globally regulate cryptocurrencies – but one crypto expert said the long-term trend is an increase in the value of bitcoin cash, an alternative to bitcoin core. PUBLISHED: 14:39, Wed, Apr 11, 2018 | UPDATED: 14:39, Wed, Apr 11, 2018
CEO of bitcoin.com Robert Ver, who was once named “bitcoin Jesus”, said he is “incredibly bullish” on bitcoin cash .
Bitcoin cash (BCH) was established in August 2017 as a hard fork of bitcoin – the world’s biggest and best-known cryptocurrency.
Created by miners after disagreements within the bitcoin community over limiting the number of transactions, bitcoin cash aims to provide a fast, cheap way of sending money across the globe.
Mr Ver told Bloomberg News that bitcoin core is still up in price despite facing a decline following its December high. Getty•Bloomberg Bitcoin cash: CEO Robert Ver said he is “incredibly bullish” on bitcoin cash price I am more bullish about bitcoin cash than I have been about bitcoin core before Robert Ver
Mr Ver said: “It’s up about 300 per cent from a year ago so investors that have held for more than a year should be absolutely ecstatic.
“The volatility is half the fun of the ride so it is an exciting brand new technology, new to the world, cap is still relatively small so things are just getting started.
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He added: “But today I am more bullish about bitcoin cash than I have been about bitcoin core before it split to the two because it is actually getting adoption all around the world more and more merchants are accepting it, it is easier to use.”
Mr Ver said bitcoin cash is a “powerful technology”. He added: “If you can see that it is useful in commerce, the long-run trend is for the price to go up.
“Yes, there is a lot of volatility from day to day but the long-run trend is going to continue to be up in regards to bitcoin cash because it is useful in congress.”
While bitcoin cash is a lot like its parent crypto, there are a number of key differences.
These include an increased block size and no SegWit integration – the controversial upgrade that was added to bitcoin to enable more transactions to be processed.
Bitcoin core price is at $6,858.68 at 10:51am on Monday, January 22, according to CoinDesk.
It saw its highest value before Christmas when it reached the monumental price of just under $20,000.
Whereas bitcoin cash has increased 2.
91 percent to $652.83 at 10:50 on Wednesday, according to CoinMarketCap.
The Bank of America Corp claimed that the greatest bubble in history is currently in the middle of a creeping “pop”, while Chief Investment Strategist Michael Hartnett wrote in a note Sunday that the cryptocurrency has fallen more than 65 percent since peaking in December at $19,511. Cryptocurrency price: A year in charts Mon, March 12, 2018 Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year.
