Bitcoin Cash price approaches $1000

Bitcoin Cash quotes continue to grow and are approaching $1000 per unit. The price rise is associated with an increase in demand for BCH due to the hard fork, which will take place on May 15.

Two weeks ago, the token was trading at the lowest price for 2018 - $606.59. Today, the total daily increase is 10.54%, and at the time of writing, the price of BCH is $ 1,091.

Experts are sure that the announcement of the hard fork led to an increase in the price of Bitcoin Cash. The significant updates that the hard fork activates have significantly revived the market in anticipation of a solution to pressing problems. 

First, the block size problem, which poses a serious obstacle to the expansion of the use of cryptocurrency, will be solved. As a result of the upgrade, the block size will increase from 8 megabytes to 32 megabytes, which will allow the network to process transactions faster. It is expected that this BCH scaling problem will be partially resolved.  

Secondly, new and restored operational codes will appear on the network, that is, simplified smart contracts can be created on the BCH blockchain. According to many experts, it was this particular update that revived the market before the Bitcoin Cash hard fork.

The new version of the Bitcoin ABC code 0.17.0 has already been published and is available for download. Users maintaining a Bitcoin Cash node are advised to immediately update Bitcoin ABC or other compatible software to version 0.17.0. 

The fork itself is carried out by developers from Bitcoin ABC. The fork will be activated as soon as the 11 most recent blocks reach 1,526,400,000 or higher, and a new block is formed.

According to https://cryptocurrency.tech