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According to Justin Bons, CIO and co-founder of Cyber Capital, Bitcoin Cash (BCH) has the potential to exceed Bitcoin (BTC) in market capitalization. Bons argues that BCH is closer to what BTC was originally intended to become, highlighting its fundamental strengths.
While BCH is currently underperforming compared to BTC in terms of market cap, Bons attributes this to politics and lack of massive adoption.
Bons criticizes BTC’s block size limit and “dictatorial governance,” contrasting it with BCH’s larger block size and adherence to the original “Satoshi vision.” He believes that BTC’s block size limitation is a significant obstacle to scaling and has been a target of criticism.
Despite BCH’s lower market cap, it remains one of the trending cryptocurrencies on the proof-of-work consensus mechanism.
Bons suggests that many skeptics of BCH dismiss it without fully understanding the discussions around decentralization and block size limits.
He sees BTC’s development as centralized due to the influence of Bitcoin Core, while BCH’s story exemplifies the principle of freedom through forking. Bons raises concerns about the design and security vulnerabilities of BTC, which he believes have been influenced by a centralized development process.
While BCH’s potential to surpass BTC in market capitalization is still a topic of debate, Bons’ perspective sheds light on the ongoing discussion regarding the two cryptocurrencies’ fundamental differences and prospects.
Key BCH Levels To Watch – July 3
Bitcoin Cash (BCH) has recently experienced a significant increase in volatility after a prolonged period of relative calm. The current bullish expansion on BCH is characterized by wild price movements. The Average Directional Index (ADX) indicates the strong upward momentum of the trend, suggesting a formidable bullish force at play.
1/5) I might not support BCH anymore
— Justin Bons (@Justin_Bons) June 30, 2023
But from a purely fundamental perspective; it deserves to be above BTC in market cap!
BCH is way closer to what Bitcoin was supposed to become; with more functionality, capacity & integrity
BCH is how we fix Bitcoin, as forking is freedom!
Meanwhile, the Stochastic oscillator reveals a current pullback in price, retracing toward the demand level of $240.0. This retracement indicates a temporary pause in the upward movement of BCH. However, the support level at $240.0 is expected to provide a solid foundation for the resumption of the price ascent.
BCH Key Levels
Supply Levels: 0.300, 0.310, 0.320
Demand Levels: 0.240, 198.0, 150.0
Total Market Capitalization: $1.2T
BCH Market Capitalization: $5.4B
BCH Volume: $1.1B
Market Rank: #14
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