When a group of developers decided to create secure block and try to improve Bitcoin transaction speeds and involve less costs then no one had imagines that Bitcoin Cash will run inversely to its creator. Created after hard fork from the original Bitcoin on August 1, 2017, Bitcoin Cash is now emerging as super rival of its originator.
From initial value of 500 USD now Bitcoin Cash is blinking at 4068 USD that is almost 80 times in a short span of 4 months. In fact in last 24 hours the coin is up around 65%. Crypto trader Niket Singla says that this is result of listing Bitcoin Cash at Coinbase for trading and exchange. Immediately after the announcement of Coinbase, Bitcoin cash soared up to 600 USD and touched a new height in coin market.
But when Bitcoin Cash was making jump of 50% at the same time Bitcoin was crashing slowly and till December 20th it lost almost 25% value and listing at $ 16,400. The interesting factor was the trend was not seen first time. Before this when Bitcoin Cash was rocketing high on November 12th then also Bitcoin was dipping and crypto trade was writing a history of rivals.
For more clarity, see the graph collected from CoinMarketApp pictures:
On Dec 20th - When Bitcoin Cash was going up at $4068 then Bitcoin was losing grip in market and trading at $16,400 from highest level of $ 20,042.
On Nov 12th – Recalling the last market up and down, when Bitcoin Cash was jumping up and went up to 100% from $900 to $2000, Bitcoin was dipping again. It went down up to 26% and set a new low of $5768 from $7776.
On Dec 20th - When Bitcoin Cash was going up at $4068 then Bitcoin was losing grip in market and trading at $16,400 from highest level of $ 20,042.
On Nov 12th – Recalling the last market up and down, when Bitcoin Cash was jumping up and went up to 100% from $900 to $2000, Bitcoin was dipping again. It went down up to 26% and set a new low of $5768 from $7776.