Bitcoin Faces Fork Plan for 500,000 'Patoshi' Coins
- Fork Proposal: Paul Sztorc, CEO of LayerTwo Labs, has proposed a new hard fork aimed at reallocating nearly 500,000 BTC linked to the early 'Patoshi' pattern, despite no conclusive evidence proving ownership by Satoshi Nakamoto.
- New Chain eCash: Under Sztorc's plan, the existing Bitcoin network will remain intact while a new blockchain called 'eCash' will be launched, which will copy Bitcoin's full transaction history but redirect the BTC associated with the Patoshi pattern to new investors.
- Market Reaction: Sztorc emphasized that this redistribution aims to support early investors in the eCash project and drive momentum for the chain; however, Bitcoin expert Jameson Lopp disagrees, viewing the fork as a separate blockchain event rather than a direct Bitcoin transfer.
- Quantum Computing Risks: Amid concerns over nearly 5.6 million BTC that have remained untouched, developers are discussing whether these dormant coins should be frozen to protect against potential quantum computing threats, with opponents warning that altering ownership structures could undermine user trust and Bitcoin's institutional credibility.
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Technical Analysis for BCH
Technical Sentiment Analysis for Bitcoin Cash (BCH). As of , Bitcoin Cash (BCH) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 7 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BCH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BCH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin Cash (BCH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 412.093 | 424.547 | 436.793 | 449.247 | 461.493 | 473.947 | 486.193 |
| Fibonacci | 424.547 | 433.982 | 439.811 | 449.247 | 458.682 | 464.511 | 473.947 |
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