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Bitcoin Cash [BCH] hits $1250 – the biggest gainer in the past 24 hours

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Bitcoin Cash, the biggest gainer
Source: Flickr

The week has been consistently good for all the cryptocurrencies with Bitcoin [BTC] breaching the $9000 mark after a long time followed by Ethereum [ETH] which crossed $600. But the real winner of the week amongst the top coins turned out to be Bitcoin Cash [BCH].

According to CoinMarketCap, Bitcoin Cash [BCH] at press time was trading at $1250 with a market cap of $21 billion. The coin has seen more than 59% hike in the past 7 days and more than 9% hike in the past 24 hours.

Bitcoin Cash breaches $1250

Bitcoin Cash breaches $1250

Many market speculators believe that the reason behind the sudden rise of Bitcoin Cash [BCH] is because of the hard fork which is due on May 15th. The announcement of Bitcoin Cash [BCH] hark fork was made in November 2017 by the ABC developers with plans of reactivating some of the Bitcoin Opcodes which was deactivated earlier. In addition, the team has declared that they will be upgrading the block size to 32 MB.

Following the announcement of the hark fork date, Bitcoin Cash [BCH] trading rose from $757 on 18th April to $1229 today. There are speculations that the coin will continue to be green for a long time. Some people even believe that Bitcoin Cash has already begun to take over Bitcoin [BTC] in the crypto-space.

Eli Afram, the Head of Bitcoin Cash Australia says:

“People are waking up. Bitcoin Cash follows the original implementation designed by Satoshi to become global programmable money.”

ReformedShortTrader, a Twitterati says:



“Bitcoin Cash is achieving all what it was meant to be as the original BTC. When I read about BTC I was excited about all the possible use cases. But those use cases did not come to fruition due 2 the block size limit. That is going to change come May 15! Bitcoin Cash is BTC!”

Mark Lamb, the Co-Founder of Coinfloor says:

“‘ve been investing in and using Bitcoin Cash since 2012. The changes happening in the May Hard Fork bring back the original spirit of Open Source money I fell in love with. 32MB blocks and OP codes show the ability to think freely and innovate. Excited for the future.”

But many analysts also have been warning the community against the dump that could possibly take place on May 15th once the fork is done. They believe before the fork on May 15th, BCH could breach $2000 again before dropping back down to $1200.





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Andrea Pierre Jackson is a contributing News writer at AMBCrypto from December 2017. She has previous writing experience with major publishing houses in the UK and the US. Andrea currently does not hold any position in any cryptocurrency or its projects

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2 Comments

2 Comments

  1. Avatar

    Zacalicious

    April 23, 2018 at 2:53 AM

    Not surprising.
    While the Core team has twiddled it’s thumbs BCH has stayed on track with Satoshi’s vision.
    I’m pretty sure Satoshi wasn’t envisioning Bitcoin as a “Store of Value” commodity manipulated by banksters with no real world use.
    Just a thought.

  2. Avatar

    Kevin

    April 23, 2018 at 12:20 PM

    What about ZClassic? After being in the top 50, following the major crackdown, they pick up the pace again. Gaining more than 100% over the last 7 days and more than 40% in the last 48 hours..

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Bitcoin

Bitcoin Cash’s [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite ‘cheating’

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Bitcoin Cash's [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite "cheating"
Source: Pixabay

Bitcoin [BTC] has often been reprimanded by the Bitcoin fork coin maximalist due to its scalability, block size, and mining fees, among other things. The debate surrounding the digital coins at the joint edition of CC Forum and Malta AI & Blockchain Summit witnessed an argument between BCH’s Roger Ver and Bitcoin maximalist Tone Vays.

The fork coin enthusiast and the CEO of Bitcoin.com, Roger Ver, argued that the transaction fee in case of BTC was $3, which made it extremely expensive. However, Tone Vays, a Bitcoin core personality, said that he used the king coin frequently and had never paid more than $1 as fees to settle payments. This led to the CEO asking Vays to pull out his wallet and send him $5 worth of BTC. Subsequently, Ver placed a bet of $10,000 for any charity of Vays’s choice if the latter was able to send $5 with a transaction fee of 5 cents in 24 hours.



Tone made a transaction on-stage and later posted a victory tweet:

Responding to the above tweet, the CEO accused Vays of cheating and losing the bet in a new video. Firstly, Ver noted that the transaction did not clear within the day and added that it took ten hours to get included in the block. Secondly, he explained that Tone’s transaction was the “highest priority” [higher the transaction fee, higher the priority] in the entire ecosystem and was prompted by Slush Pool’s insertion. He said,

“I don’t know if Tone asked Slush, I don’t know if somebody else asked Slush, I don’t know if Slush did on its own. Maybe slush has a transaction accelerator thing where you can pay with a credit card to include your Bitcoin transactions in the block but anyhow Tone is the highest priority transaction in the entire block.”





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