Bitcoin experiences a bland Christmas, while Bitcoin Cash joins in

The year 2018 has not been a lucky one for the leading cryptocurrency Bitcoin. In fact, on its 10th birthday in October it came to realise it’s fundamental faults in spite of being ranked first in the crypto verse. The drastic fall of Bitcoin was followed by the other cryptocurrencies as well. Surprisingly enough, it’s hard forks were doing better than Bitcoin and their foundation seemed stronger during the collapse of the Crypto market since September. During this recent period of recovery, Bitcoin’s recovery seems to be the slowest and this trend is not followed by the others for a change, including Bitcoin Cash.

Bitcoin Cash, unlike Bitcoin, has been more in the news throughout the year due to its active participation in various programs. Moreover, Bitcoin Cash has been founded just a year ago which means it is equipped with more efficient technologies than Bitcoin which was created ten years ago. In fact, Bitcoin Cash was a saviour when Bitcoin Cash was on the verge to become almost impractical in terms of the transaction-related issues. It is true that Bitcoin had introduced the trend and idea of the digital coins but it itself had failed to realise its own potential. Nevertheless, it still remains the most trusted coin to the users.

Bitcoin Cash had been able to grab the attention of the users by constantly working to improve more as per the demand of the market. Bitcoin saw a massive buy over the week and turned out to be the best performing cryptocurrency by a huge margin. Due to the bearish market once Ethereum (ETH) had taken over Bitcoin Cash due to the vast damage that Bitcoin had been undergoing and not yet fully recovered. Bitcoin Cash had made sure to gain back its glory and climbed back to the fourth position in terms of market capitalization. Bitcoin Cash gives hope to the crypto experts for the upcoming year as well.

Bitcoin Cash is trading at $2,795,536,021, priced at $159.48 at the time of writing. It’s seven days performance have been marked to have gained a giant portion of profit at the rate of 77.14%, even though it’s last 24 hours and the recent one hour report had been recorded on red at the rate of 23.88% and 1.33% respectively.

Bitcoin on the hand had bagged a market cap of $66,639,704,841, its price being $3,820.60. It has managed to gain a profit of only 8.16% as per the weekly report and an even glaring loss of 9.93% and 0.49% for the last one day and an hour respectively.

If their circulating supply is taken into consideration, for Bitcoin it is 17,442,212 and for Bitcoin Cash, it is 17,529,432. Therefore Bitcoin Cash wins, leaving behind Bitcoin even though by a small difference. This implies the gradual shift if trust from Bitcoin to its hard forks like Bitcoin Cash.

Leave a Reply

Your email address will not be published. Required fields are marked *

Single Column Posts

Single Column Posts Subtitle

Blockchain ETF Launches on the London Stock Exchange

Investment management firm Invesco has launched a blockchain exchange-traded fund (ETF) on the London Stock Exchange last week. Invesco has...

Paxos is all about to be showered in gold

The blockchain firm, Paxos will be launching its digital token which will be backed by the precious metal, gold. During an...

Regulators Are Calling 2019 the “Year of the Blockchain”

Regulators have eased regulations regarding blockchain technology as most of them feel that it might harm the development of the...

Container Escape Hack Targets Vulnerable Linux Kernelhack

Researchers of CyberArk have been into creating a proof of concept attack which employs adversaries to bypass the security of...

Is India on its way to consider Cyber Security trustworthy as yet?

India’s largest ecommerce website, IRCTC or Indian Railways Catering and Tourism Corporation, the subsidiary of Indian Railway and run by...