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HODLing Onto Bitcoin Cash (BCH) in 2018

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The Bitcoin Cash (BCH) network has seen some major improvements even when the price of the cryptocurrencies had seen a major drop in the first quarter of 2018. The price of Bitcoin Cash had also fallen as a result of the talks about the regulations on cryptocurrency trading and the overall negative sentiment in the cryptocurrency market. The development phase of Bitcoin Cash includes merchant adoption, infrastructure and the creation of many on-chain applications. In the second quarter it has already been observed that many crypto coins are on the way to recover from the bearish trend of Q1. At the time of writing, according to coinmarketcap.com, the price of BCH shows $1,401.37 USD approximately and is ranked at 4th position. (As of 30th April 2018) In fact, there are many reasons to hold onto Bitcoin Cash (BCH) in the present year.

On-Chain Social Network, Memo:

Memo is basically an on-chain social network site that has been developed on the network of Bitcoin Cash. From the developer of Memo, “I’m happy to announce the launch of Memo, an on-chain social network built on Bitcoin Cash — Memo is both a protocol and a front-end application.”… “The protocol works by writing transactions to the Bitcoin Cash blockchain. Client applications can read these transactions to see the activity on the network.” The profile created by a user of Memo will be connected to a specific BCH address and will also have a public/private key pair. The user can then link certain data like a quote, a particular date or a website URL through the platform. The data must be hashed using an OP_RETURN transaction into the Bitcoin Cash chain.

Companies Starting to Adopt Bitcoin Cash (BCH):

With the development of blockchain technology and the increase in the number of cryptocurrencies, many vendors see the need of adding the crypto coins as a mode of payment. There are many vendors that are looking forward to BCH. Recently, 5 vendors including a cafebar have included Bitcoin Cash (BCH) to their list.

  • Goldsilver: Goldsilver was founded by Mike Maloney and deals in the selling of precious metals like gold and silver in the form of bars, jewellery and coins. The company has also incorporated Bitcoin (BTC) into their payment system. However, the payment has to be conducted through Bitpay.
  • Coins Crypto Cafebar: Like many Japanese vendors, a new cafebar has also accepted BCH into their system. Japan has already declared in the last year through Payment Services Act that paying with cryptocurrencies is also legal. This cafebar will be having a grand opening on 12th May in Osaka. Till now, 15 different crypto coins have been included by the cafebar.
  • Safecast: Safecast, in the words of its Director of Global Operations, Sean Bonner “design the hardware and software for specific environmental monitoring”. Their products are mainly hosted on the website of Kithub. Kithhub, in turn, accepts payment made using BCH through Bitpay.
  • Undertech: The Company specialises in selling concealed-carry clothing like jackets, leggings, vests and holsters. As Undertech has recently incorporated Coinbase Commerce as a checkout option, the customers can now pay using BCH, ETH, LTC and BTC.
  • Rebecca Z: Rebecca Z is a Japanese jewellery website that focuses on everyday jewellery for working women. To make the payment procedure easier they had started accepting Bitcoin (BTC). Now, the company also accepts Bitcoin Cash (BCH) as a mode of transactions.

Increase in Bitcoin Cash Meetups Worldwide:

There are many ways of supporting a cryptocurrency and meetup is just one of many. Meetup is basically a platform where one can form groups and start a discussion regarding their area of interest. It also includes discussion forums on cryptocurrencies. Meetups regarding BCH had already attracted many cryptocurrency enthusiasts, traders and investors since the beginning of its journey. Recently, the growth of the BCH group meetings has increased exponentially. People from Tokyo, San Francisco, London, Hong Kong, Beijing, Sweden and numerous other places meet up regularly. Bitcoin Cash Fund and many other non-profit organisations facilitate the BCH meetups worldwide.

The above-mentioned points are the latest developments observed on the Bitcoin Cash network. One simply has to invest in Bitcoin Cash (BCH) and hold on to it and take the advantage of rise in price as BCH continues its adventurous trip.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Marco Verch via Flickr

Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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