Why Bitcoin Cash Saw A Flash Increase
Since the first of November, Bitcoin Cash has seen a 45% rally as Binance and Coinbase, two leading digital currency exchanges, announced their support to their upcoming Bitcoin Cash fork due on the 15th November. On its website, Coinbase announced that ‘in the unlikely event that several viable chains continue following the fork, Coinbase will make sure that customers will have access to their funds on each chain. As a hard fork occurs, holders of the forked digital currency are eligible to get both coins. But if the crypto holdings are deposited on an exchange then the exchange will have to adopt both protocols to let users migrate both coins. For those of you that don’t know: “A hard fork is a technology update. It doesn’t necessarily mean that a new coin will be created. But because the upgrade is irreversible, the majority of miners should agree to migrate to the new protocol for the chain to remain intact. If however, this is not the case, then the hard fork could result in two separate coins.”
About Bitcoin Cash: Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. Bitcoin Cash is a peer-to-peer electronic cash system. It's a permissionless, decentralized cryptocurrency that requires no trusted third parties and no central bank. In 2017, the Bitcoin project and its community split in two. Perhaps the least controversial way to refer to each side is simply by their respective ticker symbols, BTC and BCH. Bitcoin Cash is usually represented by the BCH ticker symbol and is considered by its supporters to be the legitimate continuation of the Bitcoin project as peer-to-peer digital cash. With Bitcoin Cash, you can send money to anyone, anywhere in the world, 24 hours a day, 365 days a year. Like the Internet itself, the network is always on. No transaction is too big or too small. And you never need anyone’s permission or approval.
Bitcoin cash is the 4th largest cryptocurrency by market cap size with a current market cap of $10,790,100,165. It's up 1.07% over the past 24 hours and is currently trading at $618.50. Bitcoin cash has a circulating supply of 17,440,638 BCH. It can be bought with fiat dollars, debit, and credit cards at cryotocurrency exchanges such as Coinbase and Changelly.