The next two weeks might make or break Bitcoin Cash (BCH) after the revelation that Binance exchange and Bitcoin.com are supporting the upcoming hard fork. The coin has been sluggish and the current rally is a clear indication of better days ahead for BCH. The plans from Binance and Bitcoin.com for BCH will strengthen its current market consistency and push its value higher.
The coming weeks will see Bitcoin Cash software fork into other competing entities. This could end the existing technological disagreements. Hard forks are nothing new in the crypto-sphere and the BCH is long overdue and the community will have better plans for the breakaway blocks.
Beauty of Bitcoin Cash (BCH)
Over the last few month, BCH has been the darling of many merchants and general spenders has it prides itself of offering some of the lowest fees and guaranteed timely confirmations. The coin has been in the forefront of giving the world a sound money gateway and this has seen its future appear bright.
The steady growth of BCH since it entry into the market has seen the platform continue to come up with innovative solutions to meet the demands of the modern consumer. This alone has seen the platform generate a lot of interest from investors and no wonder the current infighting that will see the platform hard fork before the end of the month.
Binance and Bitcoin Role in BCH
Binance is undoubtedly the leading crypto exchange in the world and its support to any coin means additional adoption and reach. The exchange has indicated, without giving full details that it will stand by BCH through the hard fork but has not made it clear the fate of other forks as far as their support is concerned.
The hard fork will see the birth of ABC and there are no clear indications as to whether Binance will be supporting the new software client. There is a lot of anxiety among the BCH community and a decision from the exchange will see the new outfit it supports get a head start in the market upon completion of the hard fork.
Bitcoin.com seeks to promote Bitcoin Cash and this will see enhancing of the coins’ visibility and uptake in the market leading to increased adoption, an area where the coin has failed. The firm is owned by Rodger Ver. The support from the Var outfit will be a big boost for BCH as it will have an upper hand in positioning itself in the market.
Bitcoin Cash (BCH) Infrastructure Providers Still Undecided on the Side to Take
With the support from the exchange and crypto promotion service provider, Bitcoin Cash (BCH) fortunes will soon be ignited and it is poised to give the market leaders a run for the money. With the hard fork slated for November 15, it is not clear whether the BCH infrastructure providers will stick around or they will move to support the newly created client forks.
As things continue to unfold, the hard fork might however take BCH a few step back should the infrastructure providers decide to back the rival forks and expose BCH to the markets hard fork aftermath. This will open up a round of murky wars which might turn out ugly as each new fork seeks to stamp its feet in the market.
Bitcoin Cash Performance Recap
After the hard fork became inevitable and Binance and Bitcoin.com making their plans of supporting BCH, the coins’ prices has surged to a double digit before slumping to a single digit a day after the announcement.
At the time of reporting, the Bitcoin Cash (BCH) price was quoting at $460.52 after gaining 8.16% to the green buck and 7.30% to bitcoin. The coin still remains the 4th largest by market cap, a position it has been hanging on steadily for the better part of the year slightly behind Ripples’ XRP and ahead of EOS.