Bitcoin Cash price analysis: BCH/USD dives 9.88%, but “Bitcoin Jesus,” says "I'm incredibly bullish on Bitcoin cash”
|- Bitcoin Core (BTC) is “slow, expensive and unreliable”, says “Bitcoin Jesus.”
- Bitcoin Cash price slides in the wake of the hard fork, the immediate support is at $1,230.
Bitcoin Cash most-awaited hard fork that was carried out to upgrade the software was completed yesterday. But the cryptocurrency is on a journey exploring the levels to the south. Bitcoin Cash price declined from $1,350 only to find support around $1,230. BCH/USD is currently trading above $1,280, but the upside has been capped below $1,300.
While the downside correction is in progress, Roger Ver, sometimes referred to as “Bitcoin Jesus” has said that the adoption into the global payment system is growing fast. He, however, says Bitcoin core is hard to work with owing to “slow, expensive and unreliable” features. Significantly, Ver recommended Bitcoin Cash saying:
"All of these existing businesses are building their new products on top of Bitcoin cash, just like myself as the CEO of bitcoin.com," He added "The economic path that Bitcoin cash is on is the one that lead to Bitcoin’s original success. I'm incredibly bullish on Bitcoin cash for the exact same reasons I was bullish on Bitcoin back in 2011."
Bitcoin Cash price is currently trading at $1,295, although it is facing immediate resistance at $1,300. The crypto is eyeing $1,400 as the next target, but $1,350 is a hurdle. Bullish momentum is in progress on the charts, besides the Simple Moving Average trend lines are showing that BCH/USD could consolidate higher. Bitcoin Cash immediate support is at $1,230, but further down declines will be halted at $1,200 and $1,100 respectively.
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