The return of Bitcoin Cash; BCH shows surprising appreciation

In a notable development recently, the cryptocurrency Bitcoin Cash (BCH) has made a surprising comeback. Specifically, the BCH token ‘rose from the ashes’ on Easter Eve, leading a return to the top 15 of the largest cryptocurrencies by market capitalization.

In the space of a week, the cryptocurrency Bitcoin Cash (BCH) managed to add almost US$3 billion to its market value in addition to doubling its price in a month.

In its imminent return, Bitcoin Cash briefly regained the 14th position among the largest cryptocurrencies. Currently, the BCH token is 15th in the ranking with a market capitalization of US$ 11,923,531,059. The cryptocurrency is challenging and competing for positions with Chainlink (LINK) and Polkadot (DOT).

In its weekly performance, the BCH cryptocurrency appreciated by almost 30%. At the time of publication, the price of Bitcoin Cash (BCH) was quoted at US$606.08, down 1.2% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$780,721,107.

In the last 30 days, Bitcoin Cash has seen an increase in its price of an impressive 93.1%. The highest price paid for Bitcoin Cash (BCH) is $3,785.82, recorded on December 20, 2017. The current price is 83.96% lower than the historical peak.

What is Bitcoin Cash?

Bitcoin Cash is a version of Bitcoin, but with several important differences. The biggest is the block size – which corresponds to how many transactions a block can contain. In Bitcoin, the block size is 1 MB, while in Bitcoin Cash it is 8 MB. This means that each block in Bitcoin Cash can contain eight times more information – and can therefore verify transactions faster. It later further increased the block size to 32 MB in May 2018, giving it yet another advantage in this field.

Another important difference is transaction costs – the amount of money miners charge to verify each transaction. This is a characteristic of both networks, however Bitcoin Cash tends to have lower transaction costs, thanks to the greater amount of data that can enter each block.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.