- Vitalik Buterin stirs discussion for saying “Bitcoin Cash is not Bitcoin.”
- Bitcoin Cash settles in a sideways movement between $350 and $400.
The cryptocurrency landscape is painted green anywhere on Monday during the European session. This follows a relatively drab Asian session and far back, a weekend dominated by consolidative price movements. Bitcoin Cash is also up 1.62% on the day to trade at $383. The price has grown slightly from $377 (opening value).
Bitcoin continues to fall short of the target at $400. In January, the crypto surged to $403 (2020 highs). Bearish correction from the high erased gains made to levels marginally under $300. Recovery following the slump has not been able to correct above the key hurdle at $400.
Ethereum co-founder Vitalik Buterin says “Bitcoin Cash is not Bitcoin”
Vitalik Buterin, the co-founder of the second-largest crypto has been singled out for his recent wavy comment that “Bitcoin Cash is not Bitcoin.” The comment came out following an elongated discussion regarding which Bitcoin hard fork is the “true” Bitcoin. Vitalik was singled out because a few months after the 2017 hard fork, he said via a tweet:
I consider BCH a legitimate contender for the Bitcoin name. “I consider bitcoin’s *failure* to raise block sizes to keep fees reasonable to be a large (non-consensual) change to the ‘original plan’, morally tantamount to a hard fork.
Bitcoin Cash technical picture
Bitcoin Cash is changing hands within as two months-long ascending channel. The channel support has been tested several times while the recent attack on the channel resistance failed miserably. For now, BCH is likely to continue with the up and down movement between $400 and $350. With the 50-day SMA crossing above the 200-day SMA, it means that bullish action is possible in the short term. Besides, both the RSI and MACD trends suggests that the bulls have the control but BCH is inclined to making sideways movements.
BCH/USD daily chart
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