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Bitcoin Cash [BCH] emerges as biggest gainer amongst top 10 club while Bitcoin [BTC] stays below $4k

Akash Anand

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Source: Unsplash

The cryptocurrency market’s recent bullish spike seems to have come to an end after the prices on Boxing day displayed a picture of sporadic bearish falls and bullish rises. The biggest winner among the top 10 cryptocurrency club was Bitcoin Cash [BCH], growing at 4%. At the same time, Bitcoin [BTC] which had crossed the $4000 mark earlier this week, fell back to settle at the $3800 levels.

At the time of writing, Bitcoin Cash [BCH] was trading for $170.48 with a total market cap of $2.988 billion. The cryptocurrency held a 24-hour volume of $535.206 million which was majorly shared by Upbit and Huobi. Upbit saw $81.837 million worth of BCH transactions taking place while Huobi managed $73.877 million worth of BCH trade.



Bitcoin, on the other hand, was slowly trying to crossover back into the $4k region by rising at the rate of 1.07%. The cryptocurrency also held a diminished but substantial $66.917 billion worth of market cap. Proponents of Bitcoin had also put the cryptocurrency in the limelight recently when Anthony Pompliano, a partner at Morgan Creek Digital, spoke about BTC’s price action as the year 2018 comes to an end. He had also added that Bitcoin reaching $50,000 or $100,000 is not impossible. In his words:

“I think our target from August of 2018 has been $3000, we came close once already, so we may just actually go back there or somewhere close. Along with that, over a long period of time, I tend to think that some of the bigger numbers that are thrown out will likely be accurate.”

He further stated:

“… the key piece here, and I try to stress this to people is, I fundamentally believe that every stock, bond, and currency will be digitized in the future. This is not a one-year exercise or two-year exercise and this is going take a lot of work and a lot of time”





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Bitcoin [BTC] was never meant to be fast, claims Samson Mow as BCH responds with criticism

Biraajmaan Tamuly

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Bitcoin [BTC] was never meant to be fast, claims Samson Mow; BCH twitter responds with criticism
Source: Pixabay

Since the start of 2019, Bitcoin’s [BTC] valuation has witnessed a number of surges, each of which has resulted in the virtual asset breaching the $8000 mark, while also recording no major price corrections. The situation has left the crypto-community with a sense of optimism and new-found trust, since various crypto-analysts are hopeful about the future of virtual assets.

However, doubts were recently raised when Bitcoin’s [BTC] Lightning Network, designed to solve the long-term scalability issues of Bitcoin, embarked on a decline over the last month.

However, Samson Mow, CSO at Blockstream, indicated that transaction speed has never been a major issue for the Bitcoin network.

In a recent interview with Max Keiser on the Keiser Report, Mow stated that Bitcoin was “never meant to be fast” in the first place. He clarified that Bitcoin was meant to act as a store-of-value, a medium for wealth transfers among peers and most importantly, it needed to be reliable.

Mow agreed with the argument that the relatively longer duration taken by Bitcoin [BTC] was supposed to be a feature, and a not a bug.

He added,

“If you want money, it does not need to be very fancy, and a lot of the altcoin projects; I don’t wanna go into it but they are just based on gimmicks. What you really want is sound money, something which is reliable and bulletproof.”

Samson Mow’s comment was quickly picked up by @Bitcoin, an account controlled by BCH proponent Roger Ver. The account responded,

Source: Twitter

The account continued to shed light on Samson Mow, picking on his previous comments, including one where Mow had said, “Bitcoin [BTC] is a horrible, horrible payments system,” and statements like “Bitcoin [BTC] isn’t good for people that live on less than $2 per day.”



Mow responded back and tweeted,

“$BCH was one of the greatest transfers of wealth from stupid people to smart people.”

tag Samson Mow, Max Keiser, Bitcoin, and your wish





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