Bitcoin Cash could rise after more use cases

Brian Kelly, founder and CEO of BKCM LLC, an investment company focused on cryptocurrencies, went on the heels of Bitcoin Cash (BCH) on CNBC on May 21.

Reportedly, on Saturday the BCH miners held a meeting dedicated to the financing of a BCH development fund. The miners are looking to allocate part of the reward they receive from mining and invest it to expand the BCH ecosystem, explained Kelly. The development of the fund could contribute to the rise in the value of the cryptocurrency. Continuous:

"This is how block chains gain value, you'll have more use cases as long as the utility translates into value, which could be good for Bitcoin Cash."

After the price increase to $ 1,600 on May 5, the BCH subsequently descended to the 50-day SMA and formed a head and shoulders pattern, which has a target of $ 650. In the last 24 hours, the BCH has lost almost 5.8% of its price, from 1,290 to 1,205 dollars. Even so, it is valued significantly higher than its April level of $ 760.

BCH is a digital currency between pairs established in mid-2017 as a result of the hard Bitcoin holder that took place to solve the problem of scalability. With improved consensus rules, the BCH can grow and increase the size of the blocks, allowing more transactions to be processed.

Earlier this month, the pro-Bitcoin community abandoned its plans to file a lawsuit on the Bitcoin.com site. Members were outraged by the fact that the crypto and wallet service, administered by BCH evangelist Roger Ver, seemed to deceive buyers by confusing the distinction between BTC and BCH.