The majority of the Crypto market, including Bitcoin faced a critical period this year when prices appeared to be in free fall. Many were panicking – those against crypto began to speak out with cries of, “I told you so.”
However, come April the market began to recover with strong gains. Bitcoin has seen its price increase from $6,500 to its current price of $9,000.
Along with Bitcoin, all major Cryptos have seen strong gains since the start of the month. The market is once again looking bullish after many investors were left fearing this could be the end. But the question still remains – which crypto(s) will come out on top in the long term?
The battle between the two Bitcoins (Core and Cash), has intensified recently. Craig Wright (self proclaimed Satoshi Nakomoto), is now heavily involved in Bitcoin Cash which has seen a vast amount of criticism by many in the crypto world, including, Charlie Lee and Vitalik Buterin.
Charlie Lee recently tweeted the following stating he would not speak at any conference that also invites Craig Wright to speak:
Craig S Wright’s talks and papers are filled with illogical technobabble (h/t @PeterRizun) and his Satoshi proof is fraudulent. He’s a fraud. Why give this guy a platform?
I will not attend or speak at any conference that invites CSW to speak. (@SatoshiLite)
Will BCH Succeed?
Despite all the negativity surrounding Bitcoin Cash (BCH), I believe this is one to keep a close eye on. I have been stating for a number of months that I believe BCH will become a very successful crypto, and will challenge Bitcoin all the way. Some of the reasons why I believe this to be the case are as follows:
- Low transaction fees compared to Bitcoin
- Many of the people advocating Bitcoin Cash were the same people that helped make Bitcoin mainstream – The liked of Craig Wright and Roger Ver
- Targeting the whole Cash system – Bitcoin Cash is not only looking to take over the crypto world but the Cash system as we know it. With constant development, new ideas and a forward thinking team they are looking to completely take over the way we use cash. At the moment Bitcoin appears to be far behind in its ideology. After all it was Bitcoin’s refusal to increase its block size that caused the formation of Bitcoin Cash in the first place.
- Bitcoin Cash wants to be a true ‘peer-to-peer’ cash system as Satasho intended in his white paper; whereas Bitcoin’s slow transactions and expensive fees are making this extremely difficult.
It is yet to be seen whether Bitcoin will come back with its own advances. The lightning Network is supposed to reduce fees and increase transaction speed. Bitcoin will have to keep advancing if it wants to remain the King of crypto for years to come.
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.