Bitcoin Cash, whether it’s the original Bitcoin, the adopted sister of Bitcoin or even just Bitcoins hip, cool new neighbour, you can’t dispute that recently, Bitcoin Cash has put in a great performance.
It’s hard to talk about Bitcoin Cash without the Bitcoin Core controversy springing up. What can be said here though is that controversy aside, both currencies are having a good run at the moment, so put down your battle axes just for a few seconds and let’s congratulate both sides.
Okay, now you can start fighting again.
As a news website, I must highlight that we endorse neither, yet we do of course appreciate both. We love all cryptocurrencies, that includes Bitcoin Core and Bitcoin Cash too!
The excellent run of Bitcoin Cash throughout the end of April has seen it enter May on a very optimistic note. Granted, yesterday on the 1st of May we did see a slight decline in the value of Bitcoin Cash, overall however things are looking good for the currency.
At the start of April, let’s just consider that Bitcoin Cash was hardly hovering above $600.00, yet today, at the time of writing, just under a month later, Bitcoin Cash is valued at $1,409.72 and is up 7.24%. Of course, we have also seen a recent high of $1,557.88, suggesting that indeed Bitcoin Cash is on it’s way up to $2,000.00. Okay, this isn’t quite a hot as the $3,000.00 + potential of Bitcoin Cash, either way though a solid recovery now seems to be underway.
YouTuber Nicholas Merton of DataDash agrees with this sentiment. In a recent video, he explores some of the goings on that could be contributing to the great run of Bitcoin Cash. If you fancy it, you can see the full video for yourself here- https://www.youtube.com/watch?v=3ULi-9Ejtd8
So, why is Bitcoin Cash doing so well at the moment?
Merton argues that this could be down to a number of things, firstly, with seemingly more buyers on board, the trading volume of Bitcoin Cash has seen an increase which of course contributes to an organic rise in its value. Next, Merton speculates around Gavin Anderson and Jeff Garzik, fundamental Bitcoin Cash developers who are once again expressing a need to continue to upgrade the Bitcoin Cash network. It also transpires that Bitmain, one of the key Bitcoin Cash miners have decided to burn a set of fees collected from blocks within the mining process. Merton argues that this of course could also be helping to push the value of Bitcoin Cash up.
Generally, though, Merton argues that the majority of Bitcoin Cash’s success could just be down to a rise in interest around altcoins overall. With so many new altcoins generating more and more attractive investment propositions, it does seem that Bitcoin Cash could be reaping the rewards of this.
Merton’s video and analysis provides a great look at the full Bitcoin Cash saga, if you’re a bit lost with it all and fancy an update, I’d recommend you give it a watch.
For now, let’s keep observing the rise in Bitcoin Cash. It does seem to have slipped away from Bitcoin recently, with its value proportionally higher against Bitcoin. All of this is doing great things for the Bitcoin Cash adoption programme, soon enough, things might start to get serious for this currency.