It is obvious that the November fork in the Bitcoin Cash network is one of the most important events of the cryptocurrency market for the last six months. In many ways, the opposing sides exaggerate its significance. But what will we face in the future, after the passions begin to subside?
You can read 15 November Bitcoin Cash hardfork guide here.
What is Bitcoin Cash ABC?
BCHABC is sometimes considered a direct successor of BCH (although Bitcoin SV supporters have a different opinion). Thus, according to BitMEX announcement, BCHZ18 contract will present a price of Bitcoin ABC and won’t include BCHSV cost.
But in fact, both of forked coins may be considered BCH’s direct successors, because both of them are existing and each of them has gained some part of BCH price.
Coinmarketcap had listed BCHABC even before the official fork. This is associated with the fact that Poloniex exchange has added both cryptos in advance (!).
The developers of this fork are representatives of Bitcoin ABC company. They believe that the network requires radical changes that will make transactions faster, blockchain scalable and more universal. In fact, the philosophy of the parent cryptocurrency changes drastically.
BCHABC Coin Exchanges
The cryptocurrency is available at:
- Binance;
- Poloniex;
- BitMEX;
- Kraken;
- Huobi;
- Bitfinex, and many others.
BCHABC Price Prediction 2022-2023
Let’s analyze (1) factors that might push the crypto’s price up and (2) factors that might hinder its growth.
The first group include:
- Extension of the network functions. ABC company considers this crypto not only a means of payment but also a platform for non-cash transactions (for example, transactions when making smart contracts).
- This cryptocurrency will be more similar to Ethereum and EOS, instead of Bitcoin.
- BCHABC will have better scalability due to “canonical transaction ordering”.
- Support from the pioneers of the blockchain industry.
- Two-thirds of BCH nodes use software from Bitcoin ABC.
The second group includes the following factors:
- The fork can create turmoil on the market, which can confuse ordinary users and alienate institutional investors.
- Some part of users will inevitably support the opposite side (BCHSV).
However, it is too early to speak about BCHABC price prediction in terms of the coin’s USD value, because the situation on the market has not been stabilized yet. Just bear in mind the abovementioned factors and consider them when trading.
Disclaimer. This BCH ABC price forecast is our evaluative prediction. Don’t use it as a guideline for your investment activity. We recommend all users to perform their own analysis of the market and technology features before dealing with cryptocurrencies.
