CEO of bitcoin.com is extremely positive on bitcoin cash’s performance, in the long run, reported express.co.uk.
Robert Ver, CEO bitcoin.com aka “Bitcoin Jesus,” claimed that he is “incredibly bullish” about bitcoin cash. BCH or bitcoin cash emerged as a hard fork from bitcoin in August 2017.
It was created after numerous disagreements between miners within the bitcoin community. Bitcoin cash claims to assist a faster and cheaper way to send money around the globe.
He said, “It’s up about 300 percent from a year ago so investors that have held for more than a year should be absolutely ecstatic. The volatility is half the fun of the ride, so it is an exciting brand new technology, new to the world, cap is still relatively small, so things are just getting started.”
Ver further added, “But today I am more bullish about bitcoin cash than I have been about bitcoin core before it split to the two because it is actually getting adoption all around the world more and more merchants are accepting it, it is easier to use. If you can see that it is useful in commerce, the long-run trend is for the price to go up.”
He also claimed that bitcoin cash is useful in Congress and the daily volatility cannot harm the long run benefit of the currency.
Although bitcoin cash originated from bitcoin yet, there are few key differences to consider. Bitcoin cash works with an increased block size and no SegWit integration; it allows the network to process more transactions in a given time period.
On the other hand, The Bank of America stated that bitcoin bubble is in between a creeping pop. Similarly, Michael Hartnett, Investment Strategist, wrote that bitcoin had lost more than 65 percent of its value since reaching the zenith at $19,511 in December 2017.
Nigel Green, founder, and chief executive of DeVere Group, said that crypto values skyrocketed too soon and had faced a considerable change in investor’s sentiments in the first quarter of 2018. He argues that price rise was never sustainable which warned investors as an asset that goes vertically up should fall down immediately.
Mark Carney, governor of Bank of England, has been skeptical about cryptocurrencies. Governor has also been highly critical of cryptocurrencies. He said “the best of the cryptocurrencies, I would suggest, will gravitate to the best of the exchanges if they were regulated. And others will fall by the wayside.”
In a similar news published in ccn.com stated that bitcoin cash solved the problem ledger wallet users were facing for a while. The ledger wallet users were not able to access bitcoin cash as a parser broke following the new version of Bitcoin-ABC. The users were quite upset and criticized bitcoin cash for being unprofessional.
Currently, bitcoin is going through a harsh time, and the rise in prices of small cryptocurrencies is not enough to make any drastic impact on investors. If bitcoin cash upsurges by the end of the year it could give present investors a run for their money.