Bitcoin Cash price rised in the last 24 hours. According to the real-time data of CoinMarketCap, the BCH quotation today records an unmatched trend among other cryptocurrencies.
In a context characterized by the absence of a precise direction among the various cryptos, the price of Bitcoin Cash advances by 26% going up to $ 1,200.
Bitcoin Cash is confirmed as the fourth cryptocurrency by capitalization placing itself behind the Bitcoin, Ethereum and Ripple. The most interesting detail is that the BCH quotation today marks a single positive change in the group of the best crypto. The price of Bitcoin, in fact, is down 0.52%, that of Ethereum loses 0.4% while Ripple today marks a + 4% that is still not enough to keep up with Bitcoin Cash.
The rise in Bitcoin Cash started yesterday thanks to rumors about the introduction of possible system improvements. Usually, in the context of cryptocurrencies, when rumors come up about possible revisions to improve the mechanism, the rally is obvious. This is exactly what happens at Bitcoin Cash today. But what improvements do rumors refer to?
There are two news stories that investors and traders watch. The first is certain and concerns the so-called proposal BUIP084 while the second is still at the level of simple voice. The first proposal, approved after a long discussion among members of the financial community, provides clear rules on how to split coins in an old wallet. The improvement has become necessary because since there was the hard fork, users have never been clear what was the system to split. Since many BCH owners did not yet have a balance of their Bitcoin Cash from the fork, it was necessary to introduce clear and precise instructions. Through the BUIP084 proposal, the instructions for separating bitcoin cash from the Bitcoin balance sheet have been established by the community without causing any problems on the BTC balance sheet. The proposal also concerns the introduction of a training guide on hard fork and portfolio management. All these small changes will lead to an improvement in the operating mechanisms underlying the generation of Bitcoin Cash.
The second proposal, still in a state of indiscretion, aims to tackle the problem of double expenses. The goal is to create a warning system. Unlike the proposal that has already been approved, in this case the problem is purely technical and, according to experts in cryptocurrencies, its resolution is not simple. Precisely for this reason the second proposal is likely to influence the price trend of the BCH also in the medium term.
From an investor’s perspective, discussions on improvement proposals are a clear trading opportunity. The problem is to clarify whether the price of Bitcoin Cash will rise again today or will start a retracement. The strong rally of the BCH stands out on the list of trends of the other crypts and it is said that the trend can continue. Certainly, however, the best offers push to look positively at the BCH listing in the short term.