What currency is bch?

Bitcoin Cash (BCH) is a cryptocurrency forked from the Bitcoin blockchain with larger blocks (32MB), lower transaction fees, and active community support. However, BCH also faces disadvantages such as weaker network effects, lower security, and regulatory uncertainty.

What currency is BCH?

BCH stands for Bitcoin Cash, which is a cryptocurrency based on the fork of the Bitcoin code.

BCH’s relationship with Bitcoin:

BCH forked from the Bitcoin blockchain on August 1, 2017. The reason for the fork was that the Bitcoin community was divided over the issue of block size limits at the time. BCH supporters believe that larger blocks can accommodate more transactions, thereby improving Bitcoin's scalability.

Advantages of BCH:

• Larger Blocks: BCH’s block limit is 32MB, while Bitcoin’s block limit is 1MB. This allows BCH to process more transactions, thus increasing throughput.
• Lower Transaction Fees: Fees for transactions on BCH are generally lower than on Bitcoin due to larger blocks.
• Community Support: BCH is supported by an active community and development team dedicated to its development and improvement.

BCH Disadvantages:

• Network Effect: Bitcoin has a wider network effect, which means it is recognized and accepted by more merchants and users.
• Security: Due to the fork, BCH has a lower hash rate than Bitcoin, which may expose it to a higher risk of double spending.
• Regulatory Uncertainty: BCH’s regulatory status is not yet fully clear, which may create uncertainty for investors.

Summary:

BCH is a cryptocurrency that resulted from a fork of the Bitcoin code. It has larger blocks, lower transaction fees, and active community support, but it also suffers from disadvantages such as weaker network effects, less security, and regulatory uncertainty.

Bitcoin Cash (BCH) Price Surges

As of 12:00 on July 29, 2024, the price of Bitcoin Cash (BCH) has surged to $426.33, with 24-hour trading volume of $418,477,639.79.

Factors for Price Rise

The recent surge in BCH price has been attributed to the following factors:

• Positive Regulatory Sentiment: Positive attitude towards cryptocurrencies from regulators has boosted market sentiment.
• Technical Improvements: Continuous upgrades to the BCH network have improved transaction speed and security.
• Mass Adoption: BCH is accepted by more merchants and service providers.

Future Price Trends

Technical analysts believe that the upward momentum in BCH price may continue. However, important resistance lies around $450, a break above which would open the door to further gains.

Investor Recommendation

With this positive momentum, investors may consider buying BCH near current levels. However, it is important to do your own research and only invest money that you are willing to lose.

Short Term Forecast

In the short term, BCH price may fluctuate between $400 and $450. If any key resistance or support levels are breached, larger price movements may occur.

Indicator

• Price: 426.33 USD
• 24 hour trading volume: 418,477,639.79 USD
• Circulating supply: 19,739,359.375 BCH
• Total supply: 19,739,359.375 BCH
• Market Cap: 841,557,7119.90 USD

The above is the detailed content of What currency is bch?. For more information, please follow other related articles on the PHP Chinese website!