While it seems like most of the cryptocurrencies have made a base but the fastest rise has been Bitcoin cash. Bitcoin cash has increased by more than 20% in the last 24 hours. Thus, investors are actually pretty gung-ho on the cryptocurrency.
From a low of around $ 900, the cryptocurrency has risen to over $ 1500. This is one of the main reasons why most of the investors are looking to invest in this cryptocurrency.
Even though some of the other cryptocurrencies have also risen in value but the rise in the price of Bitcoin cash is much higher as compared to some of the other cryptocurrency exchanges.
Currently, Bitcoin cash is the 4th most valued cryptocurrency after ripple. Also, it is one of the most successful forks of Bitcoin. It has increased from $ 200 in value to almost $ 3600. This is one of the main reasons why a lot of investors have actually invested in Bitcoin cash.
Advantages of Bitcoin cash:
Another reason why Bitcoin cash is gaining so much momentum is because it is much better as compared to Bitcoin itself. The speed of transaction in Bitcoin cash is much faster and the transactions are executed within a few minutes. In comparison to that, when you look at the transaction time of Bitcoin, you would realize that it is around 3 to 4 hours. This is one of the main reasons why Bitcoin cash hoards such a lot of potential.
Moreover, the market cap of Bitcoin is currently on the lower side. Owing to this very reason, there is also a larger room for appreciation as well. This is attracting more and more investors to Bitcoin.
Also, the transaction fee of Bitcoin is much lower as compared to some of the other cryptocurrencies. This is the reason why many people prefer to transact in Bitcoin.
Slowly but surely, the acceptance of Bitcoin cash is also increasing all over the globe. This is one of the main reasons why Bitcoin is gaining more and more prominence as well. Also, as more places start accepting Bitcoin cash you can be sure that the value of Bitcoin cash would increase even more.
Thus, the rise in the prize of Bitcoin cash or rather the momentum which is present in Bitcoin cash does not seem unwarranted. Currently, it is one of the most popular currencies among cryptocurrency enthusiasts. More and more investors are looking to park their funds in Bitcoin cash in order to gain on the popularity.