Bitcoin Cash Price Up 25% in the Blink of an Eye

Bitcoin cash might be headed to the moon.

That is, if yesterday is anything to go by.

Since the start of August the bitcoin cash market cap has swelled from 5 billion to the 25 billion.

Bitcoin cash is not bitcoin. Although they do share much in common.

When a disagreement happens with the direction of a cryptocurrency, the disagreeing parties can split into two.

This is known as a ‘hard fork’, because the technology splits into two.

Bitcoin cash is actually the original version of bitcoin, and bitcoin was the hard fork.  Or in other words, the divergence.

The reason the newer currency kept the name (bitcoin) was because it had more support in the community. At the time, it wasn’t even close.  It was the almost-universally accepted direction for the technology.

Therefore it was the ‘dominant’ path. 

The Difference Between Bitcoin and Bitcoin Cash

Today however, things are not so clear.

Bitcoin was originally conceived by a mysterious man named Satoshi.

He outlined a doctrine that was supposedly an outline for the new financial world.

Many now believe that bitcoin cash aligns with this vision more than bitcoin does.

The main difference between the two is the size of the ‘blocks’ which hold the information in the blockchain.

This might sound boring, but it’s important. Because it relates to scalability. The biggest issue in the crypto world.

Bitcoin cash allows for faster transactions, at a lower cost.

This is a significant advantage over bitcoin, which could lead to a greater market cap down the line.

As it stands bitcoin cash is already the third biggest crypto by market cap, after bitcoin and ethereum.

If bitcoin cash has more days like yesterday, it could soon eclipse them both.

Regards,

Dion Dalton-Bridges,

Junior Analyst, Money Morning 

PS: The world of cryptocurrencies moves at an incredible pace. It can be difficult to keep up. If you’d like to learn more about it, and the incredible opportunities it presents, you can find a free report from technology analyst and cryptocurrency expert Sam Volkering, here.


Dion Dalton-Bridges is a junior analyst at Money Morning. He has an academic grounding in business, having completed his bachelor at the Copenhagen Business School and Queensland University of Technology. His primary focus is in digital assets including cryptocurrencies, as well as small market cap opportunities within the ASX.


Leave a Reply

Your email address will not be published. Required fields are marked *

Money Morning Australia