Bitcoin Cash Review
Bitcoin Cash was created as a result of Basic disagreement on how to deal with the Bitcoin Scalability. Bitcoin has a current block size of 1 MB which means it can only handle limited amount of transactions. In July 2017, Bitcoin underwent a User Activated Soft fork to implement the Segregated Witness (SegWit) to handle the Bitcoin scalability issue. For some this wasn’t enough, and to increase the scalability even further the Bitcoin Cash Hard fork was announced to take place on August 1, 2017.
The success of any Cryptocurrency depend on its acceptance, interestingly any person who had the Bitcoin also received some amount of Bitcoin Cash. In this way, those Bitcoin investors also became the investors of Bitcoin Cash and in this way, Bitcoin Cash acceptance rate increased.
Bitcoin Cash Trading was started with the price of 280$ and in December 2017 Bitcoin Cash was trading at 1500$. On 19 December 2017, Coinbase which is the largest Bitcoin exchange in the world, announced that they support Bitcoin Cash and users will be able to buy the Bitcoin Cash on their platform and after this announcement, within 24 hours Bitcoin cash prices was mounted to the 4000$.
In the First 40 days of 2018, Bitcoin Cash and many other cryptocurrencies have lost their almost 40-50% value due to factors like South Korea and China temporary banning the cryptocurrencies in their territories for regulatory purpose and Indian financial minister statement against cryptocurrencies.
Bitcoin Cash value has increased from 900$ to 1200$ after the news that Cryptocurrencies regulation will be discussed at G20 summit which will be held in November 2018 in Argentina. On March 1, 2018, Bitcoin Cash was trading at 1277$.
At the end of the day, Both Bitcoin and Bitcoin Cash are quite similar but their priority is the difference. Bitcoin cash focus on scalability of the system by giving fast transactions and decentralization is their second priority while Bitcoin focuses on decentralization with scalability is their second priority.
- Bitcoin Cash
- Price $164.18
- Market Cap