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Bitcoin Cash’s [BCH] Roger Ver predicts coin could surpass Ethereum [ETH] on crypto-ladder

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Bitcoin Cash's [BCH] Roger Ver predicts coin could surpass Ethereum [ETH] on crypto-ladder
Source: Pixabay

Roger Ver, the CEO of Bitcoin.com has been a staunch supporter of the Bitcoin hard fork since leaving the BTC camp. The Bitcoin Cash proponent recently made another prediction while comparing Ethereum [ETH] with the coin.

In an interview published on Bitcoin.com’s official Youtube channel, Ver said that BCH would likely surpass Ethereum [ETH] “again in the future” and that he believed that the former had a better chance of getting more global adoption than the latter.

Ver, who reportedly criticized Bitcoin [BTC] on various occasions, also said that BCH had a greater possibility of bringing economic freedom to the world than any other digital asset.

Talking about whether fiat currencies and legacy institutions would be replaced by the virtual ones, the CEO was of the opinion that digital assets would get more and more market shares. However, he also admitted that it could not be said with certainty that fiat would be phased out completely, and termed the crypto-space a “whole new territory” for the world.

Reportedly, half of the nodes on Bitcoin Cash are run by Alibaba data centers. On a query about how decentralization came into play with industry giants running data centers for the Bitcoin hard fork, Ver opined that decentralization was not a goal, but rather a tool to help achieve censorship resistance.

On the issue of full nodes run by data centers around the world, Ver supported the move. He even admitted that there were lots of BCH nodes hosted by Alibaba and Amazon.



Ver claimed that to achieve the goal of censorship resistance maenat that” every individual could exercise control of their own digital assets” in the blockchain. The Bitcoin.com CEO has always been bullish of BCH and is a strong advocate of the camp.

He further claimed that Bitcoin Cash had successfully retained all the functionalities which BTC was initially created for and earlier alleged that the official subreddit of Bitcoin, BTC, was “completely censored for about three years”.





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Bitcoin [BTC] surges above $5,500 and breaks major resistance level; collective market rises

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Bitcoin [BTC] surges above $5,500 breaking major resistance level; collective market surges
Source: Pixabay

Bitcoin [BTC] broke out of its sideways trend that saw coins fall after a brilliant start to April. This “break-out” is especially significant since it came days after the coin was trading sluggishly, pulling the market cap below $175 billion.

After breaking the $5,200 level on April 16, the coin held steady, showing no noticeable dips. However, it also began losing the momentum it had gained when it rose by 15 percent on April 2. Many saw the past week as Bitcoin losing steam, opining that a drop to as low as $4,000 would manifest. This pessimism coupled with the delisting dilemma saw the global market decline by 3.31 percent over the past weekend.

Given this backdrop, the present Bitcoin price incline was even more bullish for the collective market. Further, this was not just an effort to shrug off “sideways bears,” but instead, two key levels were broken in order to usher a collective market rise and sustain BTC bullishness.

Source: Trading View

RESISTANCE

The first, as indicated by eToro’s senior market analyst Mati Greenspan, was the resistance level of $5,350. When Bitcoin began to consolidate following the early April high, Greenspan stated that if the BTC price were to punch above the aforementioned level, it “would likely serve as confirmation that we’re pushing higher and will lead to further buying pressure.”

Greenspan stated that the $5,350 level acted as a major support level throughout 2018. Hence, it is incredibly important that Bitcoin surge above it in the next rise to consolidate buying pressure. Another important point to signal the coming of a bullish market was the 200-day moving average which Bitcoin has stayed above since the April 2 rally.

PSYCHOLOGY

The other significant level for the collective market is Bitcoin’s ascendance over $5,500, which it managed courtesy of this rally. Many, including Greenspan, pegged $5,000 as a key psychological level for the coin and hence, the rise above $5,500 less than three weeks after $5,000 was broken will bring back optimism to the BTC market.



Further, as was seen in the April 2 rise, the Bitcoin pump resulted in the king coin increasing its market dominance. At the close of March, Bitcoin was edging closer to losing the majority. However, the rally saw its share increase to 52.4 percent within a day. Following this recent 4.61 percent increase against the US Dollar, the king coin’s dominance increased to 53.2 percent.

Given the elasticity of the collective market to changes in Bitcoin’s price, the market was awash in green as Bitcoin broke the resistance and psychological levels. Amid this bullish charge, some coins stood out for their above-average gains, which included Bitcoin Cash [BCH], Cardano [ADA], EOS [EOS], Litecoin [LTC], and the exchange-ousted Bitcoin SV [BSV].





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