Roger Ver, the founder of Bitcoin Cash [BCH] has been a critic of Lightning Network [LN] since its inception. The Bitcoin hardfork proponent once again bashed the Layer 2 solution for the original Bitcoin core.
The Bitcoin.com CEO tweeted,“Altcoins became BTC’s layer two scaling solution.”
The crypto community was left puzzled with Ver’s latest post, with many assuming that he was implying Bitcoin Cash was an altcoin. This is not the first time Roger Ver has made confusing statements on social media. Previously, Ver had opined that Bitcoin Cash can do better than all the functionalities of Bitcoin Core.
He has also echoed similar statements to the ones made by Gabriel Cardona, the Director of Developer Services and Head of R&D at BCH, bashing the second-layer network and branding it as an ”absolutely horrible user experience.”
However, the success of the Lightning Torch experiment has reinforced the Bitcoin community’s support and solidarity with the new technology. Many crypto luminaries, including Binance’s Changpeng Zhao [CZ], co-founder of Coinapult, Erik Voorhees, and Twitter’s Jack Dorsey, also participated in this experiment.
Fidelity Digital Assets, the digital assets arm of financial services behemoth, Fidelity Investments, was the first investment bank to receive the Lightning Torch. Acquiring the Lightning Torch from a Bitcoin maximalist marked the foray of the digital asset wing into the cryptosphere. The LN torch wave has crossed approximately 40 different countries, since its inception.
A scalable solution to the Bitcoin core, the Lightning Network, adds a second layer to Bitcoin’s existing blockchain. This allows users on the network to build payment channels between any two individual users on the newly added layer. Since channels are created between two users on the network, transactions will be executed instantly with low or negligible fees. Another noteworthy aspect of the network is that the channels can exist as long as they are required.
Responding to Ver’s tweet, a Twitter user, @francispouliot said,“Literally not layers of the object but distinct objects from said object. With all the random non-sensical quotes you post, I wouldn’t be surprised if one day you tweeted out a valid nonce.”
Another user, @balthusaur, tweeted,“All cryptos will be denominated in Bitcoin(BTC). The true king coin that did not elect itself. BCH will always remain an alt coin.”
Bitcoin Cash Follows the Market Trend, Slips by 4% Overnight
- Bitcoin Cash goes flat off by 4.03% and touches 309 USD.
- The next support might be waiting at 304 USD.
Taking a major cur from all the front runner coins, Bitcoin Cash (BCH) has also experienced tough times in the last one day with a 4.03% fall. The value of BCH has now fallen to 309 USD and the price movement of the past 24 hours is divided into three price swings.
BCH to USD Price Analysis:
The first swing of Bitcoin Cash happened between 00:02 and 14:00 UTC and this swing added 13.85 USD to each coin and placed it at 332 USD, the highest point for the day. Later it took a dive to 305 USD, the lowest point of the day. This 8.26% fall had a break at 321 USD. Later it showed some signs of strength and it could lift its value by 1.49% to touch 309 USD.
Bitcoin Cash Price Prediction:
Bitcoin Cash has time and again shown resilience in the market and proved its worth. The latest fall is due to an overall grim condition in the crypto market. However, the same situation may continue for some more days and the next support may come at 304 USD.
|Bitcoin Cash (BCH)||Resistance and Support Levels|
|1st Resistance||$ 331.94|
|2nd Resistance||$ 339.16|
|3rd Resistance||$ 345.44|
|1st Support Level||$ 318.44|
|2nd Support Level||$ 312.16|
|3rd Support Level||$ 304.94|
Bitcoin Cash (BCH/USD) forecast and analysis on September 19, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 323. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on September 19, 2019
As part of the Bitcoin Cash forecast, a test of level 318 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 342. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 295.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 290. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect acceleration of the cryptocurrency fall.
Bitcoin Cash (BCH/USD) forecast and analysis on September 19, 2019 implies a test level of 318. Further growth is expected to continue to the area above the level of 342. The conservative area for buying Bitcoin Cash is located area of 295. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 290. In this case, we should expect a further fall.
Bitcoin Cash Marked an Intraday Hike of Almost 4%
Crypto payments are making headway in various part of the world. Recently, a California city official used Bitcoin Cash for purchasing cannabis. Thus, he became the first elected official to do so. Another good news for BCH community is, now they can secure and transact the digital chip using HTC’s latest flagship smartphone Exodus 1. The tech firm decided to do so as a vast number of consumers are using BCH as a payment method.
Bitcoin Cash Price Analysis
On August 22, Bitcoin Cash was trading around $314.1. However, today after 25-days, it has shown a cumulative hike of 3.02%. Similarly, in the weekly chart, BCH coin has marked a considerable bounce-back of 8.8% from the trading price of $297.4 on September 12. Yesterday’s trading projects similar action as well. The crypto strengthened by a margin of 3.89%, after opening at $307.53. It finally wrapped the day at $319.50.
BCH to USD Price Chart
The crypto is having a bullish movement for almost a week now. And it is moving further at a steady pace. The immediate resistance for the BCH coin is at $328.85 and a support level at $308.13.
Bitcoin Cash is trading firmly above the baseline, though, there have been some fluctuations in the intraday trading. Further, the use of Bitcoin Cash as the payment method in California will draw a lot of traders toward the coin. Nowadays, a number of smartphone manufacturers are supporting crypto transactions and HTC’s move is the latest addition in the list. Meanwhile, the trends in BCH is bullish and is expected to go up further.