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.
Ripple Price Analysis: XRP Follows the Grim Market Condition; Loses almost 3% Overnight
- Ripple makes a 3% cut in the value against USD in the last 24 hours.
- The coin’s next resistance at 0.274 USD may come by the end of this week.
Ripple, one of the top three coins, has conformed to the market trend and like Bitcoin, it has also lost value over the last 24 hours. With four major price changes, the coin has been down by 2.95% in this period. Ripple has been pushed from 0.274 USD to 0.262 USD in a matter of a few hours. Before analyzing the price changes in detail, we should look at the current data of the coin now.
Current XRP Price Statistics-
- Ripple has the 3rd rank in the global crypto market and it has an ROI (Return on Investment) of 4,376.55%.
- A total of 42,890,708,341 XRP coins are in current circulation.
- The market cap of the coin as on 22nd August at 03:19 UTC stands at 11,314,857,221 USD.
- The value of the coin with respect to USD and BTC stands at 0.2632 USD and 0.00002656 BTC respectively.
- The 24h volume of the coin rests at 1,125,277,708 USD.
XRP to USD Price Comparison-
Due to 20th August’s little push, Ripple opened yesterday with a moderately high value of 0.2747 USD. It faced a price correction in the next 4 hours and 7 minutes and it made the coin to lose 0.0121 USD. After a few hours of volatility, Ripple started weakening again around 07:29 UTC and in the next 5 hours and 7 minutes, it lost 0.0076 USD. It was, however, followed by a hike of 3.34% and by 16:43 UTC, it added 0.0086 USD to the coin. The last swing came as another fall in the value and this fall cost the coin 0.0064 USD and it happened between 01:01 UTC and 02:09 UTC.
Ripple Price Prediction-
Ripple was already under pressure when most of the coins started strengthening. However, for the last day, the market condition is grim and the fall of Ripple is not unexpected. The coin is likely to take more than usual time to show recovery. The next resistance may come at 0.274 USD.
|1st Resistance||0.274454667 USD|
|2nd Resistance||0.282648333 USD|
|3rd Resistance||0.289531667 USD|
|1st Support Level||0.259377667 USD|
|2nd Support Level||0.252494333 USD|
|3rd Support Level||0.244300667 USD|
Bitcoin Cash Price Analysis: Bitcoin Cash Records 6% Downtrend in a 24 Hours
Bitcoin Cash has been hit by the slow tide once again and is recorded to be trading around $290 now. The coin even slumped to $288 yesterday but bounced back soon after. The current market performance may not seem beneficial, but it may soon change in surging trends in the next few days. The coin can record sudden rising trends by going up to $320 or above by the month-end.
BCH to USD Price Comparison
In the day, BCH coin recorded a downtrend of over 6% dipping from $315.80 yesterday to its current value at $295.35 as of August 22, 2019, at 01:51:40 UTC. The coin started yesterday on a high note but has been gradually falling since then and hit as low as $288.80. It has been able to recover since then but may continue to trade below $300 for some time.
Current Statistics of Bitcoin Cash:
- BCH price has reached $295.35 and 0.03004502 BTC
- The Market Cap is noted to be $5,380,554,461
- The 24-hour volume of the coin is $1,449,455,181
- ROI of the coin stands at -46.19%
- Circulating Supply is now 17,960,250 BCH
The lowest recorded value of BCH coin yesterday was $293.93, and it is trading above this value for now. The coin may close today on a better note trading above $300.
Bitcoin Cash Price Prediction and Conclusion:
In the last 30 days, Bitcoin Cash price has gone up as much as $353.70, but it has been trading below $300 for the most part of this month. As the last week of the month approaches closer, Bitcoin Cash may bounce back to rising trends and may start trading above its 7-days high value at $326.88.
It is a slow phase for Bitcoin Cash, and hence, the best time for bulk investments is now for long-term benefits.
Bitcoin Cash (BCH/USD) forecast and analysis on August 22, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 310. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on August 22, 2019
As part of the Bitcoin Cash forecast, a test of level 320 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 292. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 330.
The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 335. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on August 22, 2019 implies a test level of 320. Further, it is expected to continue falling to the area below the level of 292. The conservative area for selling Bitcoin Cash is located area of 330. Canceling the option of falling cryptocurrency will be a breakdown of the level of 335. In this case, we can expect continuation growth.