Bitcoin Cash (BCH) Technical Analysis June 21

BitPico an important Bitcoin Core developer has decided to launch an attack to the Bitcoin Cash network as a ‘network stress test'. In a tweet uploaded on June the 22nd, he said that an attack has been started and it will continue in the coming months. Moreover, he explained that they will amplify it and they expect to have 5000 Bitcoin Cash attack nodes in 6 weeks with the intention to multi-fork the chain.

In a Reddit post, the community started to debate about the possible consequences of the attack. Most of the people talking believe that this attempt to divide Bitcoin Cash will have no effect because of the Proof of Work (PoW) consensus algorithm that keeps secure the network.

Apparently, the main intention from Core developers is to generate FUD in the Bitcoin Cash community that keeps united in difficult moments.

In the last months, there have been different attacks between both networks. Bitcoin Cash decided to fork from the original Bitcoin network with the intention to offer fast and cheap transactions. Bitcoin has problems to scale and the lightning network that is being developed by the core team has several flaws that may harm the community.

At the moment, Bitcoin is losing 5.7% and it is being traded around $6,100 dollars according to CoinMarketCap. The cryptocurrency market in general is operating in the red zone.

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