Bitcoin News

Bitcoin Cash (BCH) Smashes any Thoughts of its Delisting with its recent Upsurge of $320

Bitcoin Cash was under tight scrutiny of getting delisted from several trading platforms. Recently though, with the hottest upsurge of $320 against the US Dollar, Bitcoin Cash has shut up any thoughts of getting delisted from anywhere.

Yesterday, there was seen an overall positive surge in the price of Bitcoin BTC and other cryptocurrencies. Although after the surge there has also been a slight downturn too. For instance, Bitcoin has gone down with 1.41 percent in the past twenty-four hours. A similar mild dipping effect was also to be seen in other cryptocurrencies such as Ethereum, XRP, EOS, Litecoin Coin, Binance Coin, Tether, Stellar, Cardano, among others.

On comparing Bitcoin Cash with other cryptocurrencies’ performance, BCH has proved itself to be the hottest in the past 24 hours with its recorded growth of 6 percent. Even with this growth, ironically, BSV has been seeing a downturn from its 12th position to 14th position. The slide in the position can be blamed to the recent delisting by Binance and Shapeshift crypto exchange. Other factors that have affected the reputation of BSV include the controversy around the crypto and its creator Craig Wright. These factors have severely affected the crypto leading to a dip from $83 against the US Dollar down to $56.

Also, on the other hand, in the past 24 hours, BSV has faced a downturn of 21.36 percent. As it goes, one’s loss becomes someone’s profit; so is the case with the competitors of BSV. It seems to be a good growth scenario for Monero and Dash, as they are very close in the ranking to BSV.

BCH first occurred back in 2017 and later on in 2018 as the fork of Bitcoin BTC. Recently, there were reports around two new networks on the BCH network i.e. Bitcoin Cash ABC and Bitcoin Cash SV. The former which is led by Roger Ver is known as ‘Adjustable Blocksize Cap’ and the latter which is lead by Craig Wright is known as ‘Bitcoin Satoshi Vision.’

At the press time, BCH market price is $315.54 USD with a growth rate of 5.89% or 0.06220286 BTC with 7.46%. The market capitalization of the crypto is $5,594,907,910 USD or
1,102,939 BTC. In the past 24 hours, the volume of the crypto has been $2,550,850,227 USD or
502,856 BTC. Currently, the circulating supply of Bitcoin Cash is 17,731,325 BCH, with the maximum supply of 21,000,000 BCH.

On the other hand, there has been a market analysis that reports that this year, there has not been too much correlation between BTC and cryptocurrency, in comparison to the last year’s trends. For instance, Anthony Xie, the founder of portfolio diversification tool- Hodlbot, stated in a comprehensive analysis-

“We have a lot of evidence suggesting that the mean correlation coefficient between Bitcoin and altcoins in 2019 is much lower than in 2018.”

Source- https://coingape.com/bitcoin-cash-bch-hits-higher-trades-320/

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