Bitcoin cash may not have been able to sustain its unprecedented weekend advance to $2,500, but it has nevertheless assembled an enviable week-long rally. The bitcoin cash price resumed that rally on Tuesday, posting a 20% advance that raised it from $1,134 to $1,390. Bitcoin cash now has a market cap of $23.4 billion.
Much of today’s rally can likely be attributed to the successful activation of a hard fork intended to upgrade bitcoin cash’s difficulty adjustment algorithm (DAA), which, as CCN has reported, is designed to prevent the wild hashrate swings to which the community has grown accustomed. Consequently, proponents expect that the upgrade will enable it to better fulfill its chief purpose: to serve as peer-to-peer electronic cash.
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If BTC goes up, BCH goes down.
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Actually, when BTC goes down, BCH will be a rocket up. I hope it stays that way, it would be very simple. But nothing is simple here, patterns change fast.