Bitcoin Cash Price Recovers From Hard Fork Blues

In letter

  • Bitcoin Cash price hit $ 286 today, up 12.39% in the past 24 hours.
  • Last weekend, Bitcoin Cash (BCH) fell after its blockchain was split in two or “hard forked”. The price fell from $ 255 to $ 240, a decrease of 5%.
  • Bitcoin Cash’s market cap is now $ 5.3 billion. This puts Bitcoin Cash in 7th place, below Litecoin with a market capitalization of 5.5 billion US dollars.

Bitcoin Cash (BCH) price hit $ 286 today, up 12.39% in the past 24 hours, according to CoinMarketCap, a Crypto Data aggregation website. Today’s price hike marks the culmination of a week of recovery from last weekend hard forkwhich temporarily depressed the price.

Bitcoin’s spin-off price fell last weekend blockchain divided in two or “hard forked”. The price of BCH fell from $ 255 to $ 240, a decrease of 5%.

The fork concerned an unpopular mining tax of 8% that would go to one of the developing teams Bitcoin cash register. A lot of people didn’t want this to happen so they decided to use a different fork.

The uncertainty hurt the price of Bitcoin Cash. When the hard fork happened, some cryptocurrencies were exchanging temporarily paused deposits and withdrawals when the future of the network hung in the balance.

However, today’s price represents a 19% increase over last weekend’s decline. The network has thus recovered from the loss it incurred.

Bitcoin Cash’s market capitalization is now $ 5.3 billion, placing it in 7th place Litecoinwith a market cap of $ 5.5 billion.

At the same time as the Bitcoin Cash price increase, there is good news Covid-19 bumps.

For the time being, however waves XRP steals the show from Bitcoin Cash. XRP hit highs of $ 0.41 today, its highest price in over a year.

Disclaimer of liability

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.