The Bitcoin Cash price marks a 15% increase since the hard fork with the price sitting at $290 currently so let’s take a closer look at the price analysis in our Bitcoin Cash news.
Bitcoin Cash price marks a 15% increase since November’s hard fork which is about the same price level from two years ago when the chain split into BCH and BSV. A month ago today, the blockchain was split into two again so these forks are enough to make the investors scared despite the fact that the returns were solid, compared to trading after the BSV hard fork. Bitcoin Cash’s price increased by 15% in the last month and by 4% In the past 24hours in order to reach the current price level of $290.
BCH split into two chains on November 15- Bitcoin Cash Node BCHN and Bitcoin Cash ABC BCHA. BCHN has taken on the BCH title and it is trading for about $22 at the moment according to the data by Nomics. Two years ago, the Bitcoin Cash blockchain was divided into the Bitcoin Cash and Bitcoin SV as a result of a disagreement about the size of the blocks and how many transactions will they be able to accommodate.
Though Bitcoin SV emerged as a smaller chain in terms of hash power, it engaged in a risky winner situation with mining groups reallocating resources from other blockchains. Finally, Bitcoin SV capitulated and agreed to coexist beside BCH. At the beginning of November 2018, BCH was worth $627 but then dropped to $293.19 the day of the split while a month later It dropped to $79.90. Bitcoin SV is now trading for $196.
Unlike Bitcoin, BCH remains far from the highs of $3,719 which it was able to reach on December 19, 2017, a few months after its split from BTC. What’s more, Bitcoin is growing at a much faster rate with the price increasing 20% in the last month alone. With three hard forks in the past three years happening, the Bitcoin Cash developers, users, and miners will need to practice compromise in order to continue going in the right direction.
As recently reported, Bitcoin Cash is the 6th largest crypto network by market capitalization but BCH Node is now the leading chain, surpassing BCH ABC by a wide margin. According to coin.dance data, the BCHN chain is now 56 blocks ahead of BCHA after the hard fork as it seems that the longest chain will win.
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