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 Price Analysis: BCH Up 24.5 Percent and $12 Away to $230
Today’s Bitcoin Cash News
In the eyes of the incumbents, crypto is a tool. An effective tool for money laundering that should be crashed by all means before its toxicity spreads. Well, at least that is what they see. And it is normal for any disruptive technology at its early stages to be repulsed. Misunderstood and opposed from inception, blockchain, and their applications are nonetheless revolutionary.
We have seen what Bitcoin represents and what is doing for citizens of ravaged economies. Cryptocurrencies of all forms—unless of course, they are enterprise grade and permissioned—is a battle-tested refuge, a shelter that is global, highly reliable and safe storage of value as well as a medium of exchange.
Bitcoin Cash (BCH) Current Price
1 BCH/USD =$152,78 change ~ -3.25%
The former chief of staff during the Obama administration says that countries facing financial turmoil can harness cryptocurrencies and find their way out of repression or authoritarianism. While talking to Forbes, he said:“One day, somebody’s going to figure out – whether that’s Argentina, ten years from now, five years from now – how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you’re going to find out that this moment has arrived.”
BCH/USD Price Analysis
So far, Bitcoin Cash is one of the top performers. Adding 24.5 percent in the last week, the coin is up to sixth and closing in on Litecoin. However, what is impressive is their price movement in the last few days. It is clear that the coin is bottoming up.
Note that BCH has satisfactorily recouped losses of Feb 24 after Mar 16 volumes printed high volumes—78k versus 27k and subsequently accompanied by a wide-ranging bull bar confirming bulls of Mar18. Although demand has been waning in the last couple of days as BCH prices consolidate away from the upper BB, risk off traders ought to stay on the sidelines and wait for a comprehensive close above $170 as demand drive prices above the three-month ranging market marked by Jan 10 highs.
Should buyers have an upper-hand and close above $170 or the 38.2 percent Fibonacci retracement level of Dec 2018 high low, then it is likely that BCH prices will rally. As a result, the first reasonable target will be Dec 2018 highs at $4,500.
Bitcoin Cash [BCH] Price Analysis: Bears edge down as token sustains bullish high
After surging past $160, Bitcoin Cash [BCH] declined in price, but not to the pre-March 15 levels when the coin saw a massive 18 percent hike against the dollar. Following the second hike on March 18, the coin has been trading in the mild red-zone, with a recent push into the green.
At press time, Bitcoin Cash had edged up the US dollar by a meager 1.15 percent in a 24-hour window. The coin was trading at $158.1, with a market cap of $2.83 billion, trailing EOS by over $530 million.
ZBG takes the maximum BCH trade volume, holding 7.31 percent of the global volume in the trading pair BCHABC/USDT. Following ZBG were P2PB2B, HitBTC, and LBank.
The one-hour chart showed two successive downtrends following the recent hikes. The first dropped the price from $163.95 to $159.19, and the second, from $159.53 to $156.42.
Bitcoin Cash found immediate support at $154.83, which the coin was trading below prior to March 15. The immediate resistance level of the coin stood at $159.81.
The Bollinger Bands pointed to decreasing price volatility as the price movement stabilized, while the Moving Average line indicated a bullish swing.
The Chaikin Money Flow tool showed an increase in the money inflow into BCH tokens as the CMF line was above 0.
The Awesome Oscillator showed a minimal increase in the short-term market momentum, but the concluding bars looked were red, indicating an upcoming bearish movement.
The one-day showed three prominent green candlesticks, owing to the recent uptrend which pushed up the price from $132.55 to $162.32. Prior to the uptrend, the coin’s price was dragged down from $152.81 to $131.01.
Bitcoin Cash found immediate support at $122.41, while the immediate resistance level for the coin, in the long-term, stood at $160.49, which the coin broke recently.
The Parabolic SAR indicated a bullish market, owing to the three aforementioned green candlesticks.
The MACD continued projecting bullish signs as the MACD line pushed above the Signal line.
The Relative Strength Index showed a significant increase in investor interest as the RSI shot up from 46.47 to over 70 and at press time, was at 67.46.
Bitcoin Cash has managed to hold on to the bulls that struck twice over the past week. The coin edged below the $160 mark, but was still hovering close at the $158 mark and was looking to maintain the price level.
In the short-term, volatility is stable while the money inflow is positive and short-term momentum is high. The long-term chart also showed a bullish movement for the coin, with a mild decline in the investor interest, which should not worry BCH proponents.
Bitcoin Cash (BCH/USD) forecast and analysis on March 21, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 156. 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 middle border of the Bollinger Bands indicator.
Bitcoin Cash (BCH/USD) forecast and analysis on March 21, 2019
As part of the Bitcoin Cash forecast, the test is expected to be 149. Where should we expect an attempt to continue the growth of BCH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 171. The conservative area for buying of Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at level 148.
Cancellation of the option to continue the growth rate of Bitcoin Cash will be a breakdown of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 136. This will indicate a change in the current trend in favor of a bearish for BCH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on March 21, 2019 implies a test level of 149. Further growth is expected to continue to the area above the level of 171. The conservative area for buying Bitcoin Cash is located area of 148. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 136. In this case, we should expect a further fall.