With the most recent mass recovery in the market that started out at the beginning of November, Bitcoin Cash seems to be the top gaining crypto among the top list of 20 crypto assets.
In the course of a single week, BCH went up by over 50% against the fiat, easily jumping from its initial value of around 420$ as marked back on the last day of October.
From the point of trading at the value of around 400$ to reaching the price of 620$ in the course of a single week, Bitcoin Cash is surely headed to a vigorous rebound.
Bitcoin Cash Recovering Big Time: Up by 50% in a Single Week
Bitcoin Cash showcased an amazing progress during the course of the last seven days, by collecting over 50% of gains, concluded with November 7th. Bitcoin Cash showed a steady progress in the first week of November, however, we can see it dropping by over -4% on November 8th.
This can be the case as some BCH traders are finding ways to spin profit and earn from the price of 620$ as marked on November 7th, that soon declined to 590$ going below 600$ in the course of only a single day.
Bitcoin Cash was forked out of the original Bitcoin blockchain back in 2017, set to solve some issues that Bitcoin has, like enabling faster processing of payments.
In general, most of BCH holders that accepted the fork back at the time consider BCH to be a solid continuation of Bitcoin’s original design, being ranked as the 4th largest currency.
It’s not only that Bitcoin Cash is dropping at the moment of this writing, as all top 10 currencies, with the exception of Tether (USDT) are showing losses on daily charts.
BCH alone is down by almost 5%, now marking 38% of gains in the last seven days, which still places it as the top gainer of the week among the top 20 list and beyond.
Bitcoin Cash (BCH) Preparing for a Fork
The next fork of Bitcoin Cash is set to take place in a week on November 15th. The latest fork is a product of disagreements among two different teams behind BCH, where ABC Bitcoin is pushing Proof of Stake protocol as a better choice for BCH blockchain, while Craig Wright, claiming to be the creator of Bitcoin, Satoshi Nakamoto, is arguing changes.
Exchanges Binance and Coinbase, some of the biggest and most popular exchange markets, already announced their support for the upcoming fork of Bitcoin Cash.
Just like the hard fork that brought Bitcoin Cash to life, this hard fork will result in two different Bitcoin Cash blockchains, which means there would be two different BCH.
One chain will be led by Wright who claims to be Nakamoto and the other by Bitmain’s ABC team on the head with Jihan Wu.
The future of the 4th largest currency seems to be uncertain with the latest hard fork that should take place in a week, as it yet remains unclear who will change the ticker symbol as there can only be one Bitcoin Cash (BCH).
