Bitcoin

Bitcoin Cash Price & Statistics After 2 Days of Existence

Bitcoin-green1

Bitcoin Cash Price & Statistics After 2 Days of Existence

I’m sure you’re not the only one wondering why bitcoin cash price is so high.

Why didn’t it crash yet? Why didn’t users dump it as they said they would? Is it too soon to judge? Let’s have a look.

This article is written as of bitcoin block height number 478725.

If you don’t know what bitcoin cash is and how & why it was created, have a read over here.

Bitcoin cash (BCH) price as of right now: 

 As you can see, BCH is going strong and getting more traction and support from the buyers by the minute. Bitcoin cash daily high today reached ¥4,499.00 (Chinese Yuan) which is roughly $670.00 and the coin’s daily low was recorded at ¥1,520.00 ($226.00). That’s nearly 200% change between the lowest and highest point which makes bitcoin cash the most volatile cryptocurrency as of today.

bitcoin-cash-price

Bitcoin cash (BCH) Market Cap

This might surprise a lot of people, but bitcoin cash market cap is just over $10 billion USD which accounts for more than 10% of the total crypto market share.

That’s mostly due to the fact that when the original bitcoin chain split into two, it created a lot of “free” bitcoin cash. In fact, for those who don’t know, it created the exact same amount of BCH as there was BTC at the time of the split – just over 16 million. Nonetheless, this makes BCH the third biggest cryptocurrency as of today, just two days into its existence.

 

bitcoin-cash-market-cap

For those eager to invest, bitcoin cash could be a great opportunity to do so since BCH is also capped at 21 million supply – just like BTC. However, take great care before doing so and seek professional advice as bitcoin cash is too new to make any long-term investment projections.

Just in the last 24 hours, bitcoin cash volume reached nearly $400 million USD which is 70% less than the original bitcoin.

Bitcoin Cash Blockchain

BCH blockchain is kicking and it has created 12 blocks so far.

Only one of those blocks have exceeded 1MB in size due to small amount of transactions since the fork.

Currently, the original bitcoin blockchain is ahead by 155 blocks vs the new version.

bitcoin-cash-blocks

Bitcoin cash is backed by ViaBTC mining pool which currently contributes 25% of the total hash rate of the network. As of now, bitcoin cash (BCH) hash rate had dropped down from 216 PH/s to 71 PH/s since yesterday (1 PH/s is 1,000,000,000,000,000 hashes per second).

That’s because the level of difficulty is too high at the moment and needs adjusting in order to make the mining business profitable.

By the looks of it, the block difficulty should reduce in a relatively short period of time. This, in return, should attract more “big boys” to come and join.

bitcoin-cash-hashrate

Bitcoin (BTC) vs Bitcoin Cash (BCH)

Here’s a quick comparison how both bitcoin and bitcoin cash chains are doing in terms of raw numbers.

 

Bitcoin (BTC)

Bitcoin Cash (BCH)

Price

$2,723.83 USD

$634.36 USD

Circulating Supply

16,483,987 BTC

16,482,113 BCH

Max Supply

21,000,000 BTC

21,000,000 BCH

Volume (last 24h)

$1,203,870,000 USD

$401,833,00 USD

Current Block Height

478725

478570

Hash rate

6,400 PH / s

71.071 PH / s

Reddit

/r/Bitcoin

/r/BTC

Final word

I had a feeling that bitcoin cash will take off and it looks like it’s getting there. It’s still early to say and know for sure what’s going to happen to BCH, but it certainly didn’t collapse as soon as it forked away as many were predicting before the event.

Objectively speaking, I believe that bitcoin cash was necessary to put a stop to the 3-year long scaling debate. Bitcoin was going to hard fork one way or another, and I’m glad it’s happened now. I hope we will see a much healthier crypto community from now on, even though it was just divided.

For those who are in control of their private keys, you can read this article on how to retrieve your free bitcoin cash.

However,  before you attempt to do it, ensure with your third-party BCH wallet or exchange platform that it is safe to do so. The full integration of bitcoin cash is still taking place and it might take several days to fully settle down.

Click to comment

Leave a Reply

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

To Top