Last night, BCH jumped above its resistance lines, triggering the correction that everyone was nervous would be a crash. During the day, the price mostly consolidated, without breaking its trend. This trend has been broken through recently, and it even broke through the newest support line. Expect a large bounce above or at $1k support line.
Bitcoin Cash's massive weekend rally has shown a weakness in the Bitcoin Core (BTC) network. Thousands of unconfirmed transactions with unacceptably high fees have caused a lot of capital to flow out of BTC and into BCH. Unless BTC can magically speed up soon, BTC will continue to bleed.
The only reason this hasn't happened sooner was because most people simply HODL their BTC. It's become asset, not a currency. If transaction confirmations were even a fraction the speed of most alts, this rally simply would not have happened.
Bitcoin Cash's massive weekend rally has shown a weakness in the Bitcoin Core (BTC) network. Thousands of unconfirmed transactions with unacceptably high fees have caused a lot of capital to flow out of BTC and into BCH. Unless BTC can magically speed up soon, BTC will continue to bleed.
The only reason this hasn't happened sooner was because most people simply HODL their BTC. It's become asset, not a currency. If transaction confirmations were even a fraction the speed of most alts, this rally simply would not have happened.