Bitcoin Cash (BCH): Exclusive Marketplace And HardFork The Next Major Catalysts
This might have escaped you, but Bitcoin Cash (BCH) will soon have a platform that will exclusively pair it with fiat and other cryptocurrencies for trading. The event was previously expected around mid-April but a new rumor claims it will come online on April 30, via the efforts of a Cyprus-based startup.
Hello Group, the company that announced this initiative earlier in the year, is set to build a marketplace dedicated to BCH. What this means is that Bitcoin Cash will get priority in being paired with other crypto assets.
Bitcoin Cash will likely be even bigger in the next couple of weeks. Its price that is looking to top $1000 at the moment could go wild. Bold projections are already putting it beyond the $1500 level. As the market tries to consolidate, BCH investors should brace themselves to dig in and await higher returns.
When was this announced? Well, it goes all the way back to the beginning of the year. In January, the Hello Group team acquired the domain Bitcoincash.io and revealed that they would be developing the platform specifically for BCH/CRYPTO pairs.
According to the report:
“Acquired at the beginning of the year Bitcoincash.io domain is planned to be a marketplace platform focused on BCH and is coming online on April 30.”
The item may not be hot news at the moment, but it will get a lot of airtime beginning of next week.
The Hello Group had indicated that they’d be launching the Alpha release for the site on by the end of April. With the new site in place, Bitcoin Cash will get more visibility as Cyprus is a country with a significant crypto following.
It is expected that investors will access a number of services that are likely to further their interest in crypto trading. One of the main attractions of the site will be its free of charge services.
On the platform, users will get cryptocurrency live feeds, in-depth historical data, and updates on related events and trends. Essentially, account holders will have an avenue to interact with the system without the interference of an intermediary.
In other news, Bitcoin Cash will have its planned hard fork on May 15, 2018, as had been indicated as early as 2017.
When 7 Bitcoin Cash developer teams met in London sometime in November 2017, they all agreed on one thing. It was a decision to hard fork the crypto in 2018. At the time, leading development team ABC said that:
“Our top priority for Bitcoin Cash is to keep improving it as a great form of money. We want to make it more reliable, more scalable, with low fees and ready for rapid growth. It should ‘just work,’ without complications or hassles. It should be ready for global adoption by mainstream users, and provide a solid foundation that businesses can rely on.”
Well, that fork will take place on May 15, followed by yet another in November. Together with Bitcoin Unlimited, the teams want to introduce upgrades that could make BCH better than even Bitcoin.
Apart from the expected change to the block size, the upgrade will readjust it to be “adaptive”, the teams will also try to reduce block intervals down to about 2.5 minutes. However, one feature on the cards could be a game changer for BCH and the crypto community.
The hardfork is intended to reactivate some apparently disabled opcodes in the original Bitcoin code. The OP_GROUP opcode seeks to find ways of establishing tokens on the Bitcoin Cash network. These should work like the ERC-20 token standard on the Ethereum network.
If such comes out during the upgrade, the BCH network could be set for fast-paced growth. It would lay the ground for the crypto to establish a stronger footing, competing directly with Ethereum. This is massive potential being laid forth for Bitcoin Cash (BCH). Expect prices to skyrocket by the end of Q2.