Can Bitcoin Cash Compete With Bitcoin in 2021? (BCH Price Prediction)

ever since its inception there's been a hot debate about bitcoin versus bitcoin cash the battle lines have been drawn and both sides have dug themselves into their respective trenches of belief while there may be no end to this debate i can at least make one thing clear bitcoin cash is better than bitcoin at being an electronic currency today i'm going to tell you why let's get it bid swap is the hottest new way to trade tokens probably all the top decentralized exchanges biswap gets you the very best price and value for your trades bitswap is changing the game try it now at welcome to bitboycrypto my name is ben everyday i show you how to make money in cryptocurrency if you like money and crypto then make sure to hit that subscribe button if you're a fan of bitcoin cash or like hearing more about bitcoin forks make sure to smash that like button for the youtube algorithm also you guys can trade both bitcoin and bitcoin cash on buy bit you can find out more about buy bit by visiting deals it's one of the only places you can leverage trade bitcoin cash in today's video we will talk about the differences between bitcoin and bitcoin cash itself and why bitcoin cash is better at being a digital currency i'm gonna be also making a price prediction for bitcoin cash at the end of this video so please make sure to stay tuned until the very end to see where i believe this price can go many people are asking me about bitcoin forks and the first one to talk about is bitcoin cash bch started as a hard fork of bitcoin in august of 2017 or it blocked 478 559 the entire reason this work happened was because of a disagreement in the community about the future of bitcoin especially in regards to several aspects of the protocol namely block size transaction time and scalability as bitcoin grew in popularity and usage the speed of the transactions became slower the cost of those transactions became higher this issue came to a head in 2017 when the number of transactions dramatically increased and network congestion caused bitcoin's average transaction fee to climb to as high as 55 dollars by the end of the year some transactions taking hours and in some extreme cases days to finally confirm this is the first time that the scalability problem that some had predicted for bitcoin was actually experienced by those using the crypto in order to address the scaling issue a number of off-chain scaling solutions were suggested including the lightning network segregated witness or segwit and various side-chain scaling options segwit was designed to resolve the scalability debate by removing the digital signatures from the input instead moving it to the end of the transaction in theory this solution increases the one megabyte limit of a block up to around four megabytes however there were many that thought this approach wouldn't work including those who would eventually become part of the bitcoin cash community they sought to keep scaling on chain and instead proposed that the block size be increased from one megabyte to eight megabytes unable to come to a consensus about the best solution miners initiated the hard fork of the bitcoin protocol created bitcoin cash in august 2017 and it was a frenzy this work of the protocol occurred just before the segwit update which did slightly improve bitcoin scalability by reducing the size of transactions allowing more data to fit into the one megabyte block and it allowed for second layer solutions for bitcoin though the size of each bitcoin block is limited to one megabyte there have been examples of blocks successfully mined that are larger than this due to the benefits of the segwit upgrade bitcoin cash on the other hand now has a maximum block size of 32 megabytes which was increased from its original block size of 8 megabytes during its first hard fork in may of 2018.

This change in block size significantly increased the number of transactions can be included in each block and substantially increase the overall speed of the bitcoin cash network it is important to note that even though the block size was increased bitcoin cash maintains the 10 minute average block discovery time first implemented by the bitcoin protocol this means that transactions for bitcoin cash are confirmed in approximately the same amount of time as bitcoin but because the transactions can be squeezed into each bitcoin cash block the overall throughput of the bitcoin cash network is higher around 100 transactions per second compared to only 7 tps for bitcoin now it did increase though to 14 tps after segwit of course but still not that great aside from the larger block size and thus greater throughput of bitcoin cash one of the main advantages the bitcoin cash has over bitcoin has to do with the transaction fees the highest transaction b price for bitcoin cash was in january of 2018 when the average transaction fee was around 90 cents however the transaction fees have dropped considerably since then with the current transaction fee costing only a few cents bitcoin on the other hand had its highest transaction fees of around 55 in january 2018 and though the fees have gone down since then transaction fees are still around five or six bucks significantly higher than bitcoin cash so all this boils down to one thing bitcoin cash is better than bitcoin at being a currency the original vision of bitcoin was to be a peer-to-peer electronic cash system allowed anyone in the world to send money to each other quickly and cheaply however due to the long block confirmation times in the high transaction costs bitcoin has fallen away from this original vision while for those of us blessed enough to be living in a first world country five dollars may not seem like that much money to pay to transfer money but for those unfortunate people who live in third world countries five bucks could translate to a week's pay and that would be totally unsustainable as means of transferring money one interesting thing to note is that in regards to price bitcoin and its forks like bch almost mirror each other when bitcoin goes up it's forced to go up with it when bitcoin goes down it's follow suit and go down as well there are many that say when bitcoin goes down all of the altcoins go down but have you seen any other reason altcoin market moves like ethereum union ave for example you would have noticed that even when bitcoin was retreating from 40k to 30k these altcoins have been steadily increasing in value with eve obviously recently hitting an all-time high now if we take a look at these comparison charts between bitcoin bitcoin cash clear to see that they follow each other closely take a look at the six month chart the three month chart the one month chart the seven day chart and the one day chart it is undeniable that they look nearly identical so it goes without saying that the value of bitcoin and its forks like bitcoin cash are tightly correlated so this means that if the bulls are right and bitcoin is going to continue to rise in value then in theory the bitcoin forks like bch will continue to rise as well so bitcoin cash is better than bitcoin being a currency we've established that and its value will also increase as well but for many projects it's easy to look back at their previous all-time highs and make predictions for where they can go during this bull run but for bitcoin cash it launched with an insane amount of momentum that made its previous all-time high kind of irrelevant to where the price can go from here out of every project we've recently looked at bitcoin cash does seem like the one project that may not be able to return to its all-time highs i believe the bch will top out around three thousand dollars it's a little less than a 10x from here but still not an all-time high you also have to keep in mind that the bitcoin sv port took away some of the bitcoin cash supporters so that could limit its growth to some extent i believe there is a lot of upside in the future but beating its previous all-time high is probably not in store for this cycle but hey you bitcoin cashers or be cashers can still dream what are your thoughts on bch do you think the bitcoin and its forks will be forever tightly correlated or will they eventually break away from bitcoin drop me a comment down below that's all i got be blessed [Music] you

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