The new version of HandCash and a broader market rally pushed Bitcoin Cash (BCH) price above $1,200 earlier today. The fourth largest coin rose almost 20% last week after posting significant losses in May. BCH coin has been strengthening trader sentiments through innovations in its blockchain network.
Roger Ver, who believes BCH can replace BTC from its dominating position, now predicts Bitcoin Cash will be coming to tens-of-thousands of convenience stores in Japan soon. This means that traders can use Bitcoin Cash as the medium of exchange in Japan.
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The expert also claims that more people are already using BCH than BTC as a store of value. Bulls believe that BCH Coin is more reliable than any other network. The bears, however, think that Roger Ver is trying to increase the price of fourth largest coin artificially.
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Previously several other celebrities, including MMA Superstar Rory MacDonald, announced their support for Bitcoin Cash without giving any logical arguments to support their claims.
The MMA Superstar said that Bitcoin Cash is the “real” Bitcoin and is more compliant with the original peer-to-peer electronic cash system invented by Satoshi Nakamoto.
Bitcoin Cash price has made substantial price movements in the past few months, amid the bullish calls and pump and dump schemes. The BCH coin rose from $600 level in April to $1800 mark on May 12. The coin, however, couldn’t sustain the momentum. Its price plunged to the $1000 level at the end of May.
The Rest of the Altcoins are Making Sideways Moves
Altcoins, including Bitcoin Cash, have generated big gains last week amid the broader market rally. IOTA (MIOTA) was the best performing cryptocurrency in the previous week.
Ripple (XRP) and Ethereum (ETH) price also increased at a double-digit rate last week. TRON (TRX) was the biggest loser in the top ten coins— TRON price dipped more than 10% last week. Technical analysts are predicting a price correction rally in the short-term, as they believe the market has hit bottom at the beginning of the last week.
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