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Bitcoin Cash Price Surge Makes Competitors Look bad

A lot of interesting things are happening in the cryptocurrency world. While a lot of markets are in the green, the biggest gainers are rather peculiar. Litecoin, Bitcoin, and Ethereum are all gaining but only ever so slightly. All of the money seems to be heading to Bitcoin Cash as of right now. This leads to some interesting speculation as to why this is happening right now.

It is evident Bitcoin Cash is still a strong contender in the cryptocurrency world. Although it lost a lot of value, so did most other currencies throughout 2018. We are seeing BCH bounce back the strongest of all top cryptocurrencies right now. The altcoin performs better than Bitcoin, Litecoin, Ethereum, and even XRP. Quite a remarkable trend as of right now, but this may only be the beginning of what is to come. The world of cryptocurrency is always evolving, and this trend is no different.

Bitcoin Cash is Doing Rather Well

More specifically, the Bitcoin Cash price is up by as much as 27% at one point. That is quite a spectacular growth over the course of 24 hours. Even so, we see the likes of Bitcoin and Ethereum gain about 4% or slightly less in the same timeframe.While this is not necessarily an official indicator of what is yet to come, it does raise some questions. Bitcoin Cash had the chance to overtake Bitcoin during the recent price slump. Unfortunately, nothing happened in this regard to make the markets even more exciting as a whole.

It is evident all cryptocurrencies correlate with the Bitcoin price. While BCH supporters may think otherwise, their favorite currency hinges on Bitcoin’s success right now. When the BTC price was bleeding value, BCH lost both USD and BTC value at the same time. As did most other altcoins, for that matter. Overtaking BTC as the world’s leading cryptocurrency will not be easy for Bitcoin Cash. There is a chance it will happen, but that is not on the agenda for now.

It will be interesting to see how this situation plays out. Bitcoin Cash is clearly the most popular fork of Bitcoin to date. Bitcoin Gold is still around, but very few people actively care about it, by the look of things. Investors are keeping a very close eye on all markets as we speak. Whether or not we will see spectacular BCH gains throughout 2018, remains to be seen. It is evident Bitcoin may have run its course for a while, but that doesn’t mean alternative currencies won’t flourish.

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Author: Currency

Updated: February 9, 2018 — 11:05 pm

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