Bitcoin Cash (BCH), the fork of Bitcoin which had happened on 1st August 2017 is steadily approaching the mainstream attention. Very recently, BCH has recorded new volume and captured the 4th largest spot on the graph of Coinmarketcap after defeating Litecoin (LTC).
Bitcoin Cash Runs Higher With Crypto Bull Rally
Reports reveal that Bitcoin Cash or BCH has surged nearly 100% since the start of this week. With potential value, BCH jumps over Litecoin (LTC) by market capitalization. At the moment, BCH is skyrocketed to $311.99 with a gain of 23.24 percent over the past 24 hours. In addition, the average market capitalization in comparison with LTC also surges to $5,525,257,127.
Although, as reported by Coingape, the battle between BCH and LTC appeared as a center topic across crypto media – To note, the price of Bitcoin Cash on Monday was $166.93 and today it has recorded the highest point of over $300 against US Dollar.
Following the significant growth of Bitcoin Cash, analysts, traders and crypto commentator on their way to analyze what has influenced this tremendous surge – consequently, some analysts points at its fundamentals such as rise of BCH future trading on Kraken subsidiary whereas other believe ‘Simple Ledger Protocol’ launch that encourages developers to create new token that will be traded on BCH’s blockchain’ and also other reason could be the accessibility of booking flights using Bitcoin Cash Cryptocurrency on Bitcoin.travel website.
On top of all, the leap of BCH value is recognized since the ruling cryptocurrency, Bitcoin took a new turn. As Coingape earlier reported, Bitcoin enters the second quarter of 2019 with most potential figures which have influenced the value of other altcoins as well – henceforth BCH’s value. Just to note, Bitcoin has already skyrocketed above $5000 against the US Dollar and continued flourishing the market with 1.85% growth at the moment.
What do you think about Bitcoin Cash (BCH)? Do you believe the value continued on the soaring graph? Let us know your opinion.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com