On November 15th, 2018, Bitcoin ABC a development team behind Bitcoin Cash will be releasing a new fork again after their recent network upgrade on May 15th this year. Bitcoin ABC has a responsibility to ensure that people are ready for the update and that none of the technology behind Bitcoin Cash are affected by the roll out.
The updates for the new version are available for download but the new upgrade will not go live until November 15th.
Bitcoin ABC recently tweeted:
Bitcoin ABC’s new upgrade will help create “sound money” that is usable by everyone in the world. Bitcoin ABC believes that they represent the next step towards this goal. They also aim to work in the best interests of miners, investors, and users of Bitcoin Cash and will collaborate and coordinate with other teams and projects in the Bitcoin Cash ecosystem. They will also focus on improving the utility of Bitcoin Cash and enable massive on-chain scaling.
gr8ful4 an enthusiastic Redditor is of the opinion that:
“Dev team competition, as it should be. After reading the discussions (especially) in the last week, I sense this is a rather rushed/stubborn move and should be consequently punished by the market/miners.”
The new updates include several minor technical fixes and improvements. They have been focusing to become a solid base for application development and innovation. They will enable the use of oracles and cross-chain atomic contracts and will introduce a canonical transaction ordering which is a technical building block that lays the foundation for massive scaling improvements in the future.
Jonathan Toomim wrote an article explaining why Canonical Transaction Ordering Rule is highly desirable than compared to Topological Transaction Ordering rule.
- Block emission is more efficient
- Block propagation is more efficient
- Software implementations are simplified
- Proofs of transaction inclusion are improved
- Opt-in locality between participants becomes possible
- Potential attack vectors are mitigated
Jonathan Toomim strongly believes that Topological Transaction Ordering Rule [TTOR] should be replaced by Canonical Transaction Ordering Rule [CTOR] which will be simpler to implement and reduces the complexities that occur in TTOR.
CTOR allows all its participants to zoom into a block to identify whether a transaction is found or not without processing the whole block. This property will allow chainless apps to gain the possibility to verify flows of transactions without being encountered by an arbitrarily large blockchain.
Bitcoin Cash (BCHUSD) weekly forecast on February 18 — 24, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 121. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Bitcoin Cash (BCHUSD) weekly forecast on February 18 — 24, 2019
As part of the Bitcoin Cash forecast, a test of the level of 150 is expected. Where should we expect an attempt to continue the fall of BCH/USD and further development of the downward trend. The purpose of this movement is the area near level 60. The conservative area for Bitcoin Cash sales is located near the upper border of the Bollinger Bands indicator strip at level 180.
Cancellation of the option to continue the decline in Bitcoin Cash will be the breakdown of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 210. This will indicate a change in the current trend in favor of bullish for BCH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCHUSD) weekly forecast on February 18 — 24, 2019 implies a test level of 150. Further, it is expected to continue falling to the area below the level of 60. The conservative area for selling Bitcoin Cash is located area of 180. Canceling the option of falling cryptocurrency will break the level of 210. In this case, we should expect continued growth.
TRON (TRX) Long-Term Price Forecast- February 17
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.
TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.
With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.
TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
Bitcoin Cash [BCH] Price Analysis: Bulls and bears fight it out as token trades sideways
The sixth largest cryptocurrency in the market, Bitcoin Cash [BCH] has made meager gains as the collective market added $1 billion on 16 February. The top 10 is colored in stripes of red and green, with the three coins capping off the top 10, TRON [TRX], Stellar Lumens [XLM], and Binance Coin [BNB], all trading in red while the rest are looking upwards.
Bitcoin Cash’s value against USD is up by a small margin of 0.55 percent and is currently trading at $122.90. The market cap of the coin stands at $2.16 billion, while the coin trails EOS [EOS] and Litecoin [LTC] by $328 million and $478 million respectively.
In terms of exchange dominance, P2PB2B takes the top three spots with the trading pairs BCH/USD, BCH/BTC, and BCH/ETH, accounting for $14.37 million, $13.73 million and $13.13 million respectively.
The one-hour chart for Bitcoin Cash shows that the coin is trading sideways, with neither the bulls nor the bears taking charge. However, recent signs show an increasingly downwards movement.
Bitcoin Cash has been pushed down courtesy of two successive downtrends, the first extending from $125.8 to $119.79 and the next from $124.31 to $121.46.
The coin finds immediate support at $118.44, which the coin has not managed to slip below since prior to the February 8 rise. Bitcoin Cash posts an immediate resistance of $124.22, which the coin touched at the beginning of the week.
The Bollinger Bands indicate that the volatility of the coin is on a decline, while the Moving Average line indicates an imminent switch from the bears to the bulls.
The Chaikin Money Flow tool shows that money is being pulled out of Bitcoin Cash, as the CMF line is below 0.
The Fisher Transform line shows that the coin switched from the bears to the bulls at 2300 UTC on 15 February, following the Fisher line’s overtake of the Trigger line.
The one-day chart for Bitcoin Cash shows a steep downtrend following the coin’s hardfork, which pulled down the price from $635.38 to $130.14. Prior to this downtrend, the coin rose up from $449.05 to $628.22.
Bitcoin Cash finds immediate support at $108.64, which has shot up from an earlier support level of $78.14. The coin’s immediate resistance level stands at $127.75, which is a shift downwards from an earlier resistance level of $198.22.
The Parabolic SAR shows that the coin is in a bullish phase, as the coin’s trend line is above the dotted lines of the indicator.
The MACD shows that the coin has been trading in a bearish zone, since the hardfork. However, the coin has been vying for a move out of the zone since early January.
The Relative Strength Index shows that the coin has been moving up on the investors’ shopping lists, as the RSI has shot up from 39.63, last week, to 46.95 at press time.
Bitcoin Cash has been in a recent tug-of-war with the short-term bulls trying to push the coin up, as the current market swings upwards, while the hardfork bears are still pulling the coin down. In the short term, since the market surged a week ago, BCH has been trading sideways, with the Bollinger Bands pointing to a volatility drop. However, in the long-term, the coin has stabilized since the bears of January pulled the price down to under $110, as indicated by the Parabolic SAR’s mild bullish signs and the minimal increase in investor interest.