Why the price of Bitcoin Cash goes up?

keks (56)in #cryptocurrency • 7 years ago (edited)

For several days the course Bitcoin Cash has grown to $900 that nominated to the third line on capitalization among all cryptocurrencies of the world, after Bitcoin and Ethereum. Still too early to compare Bitcoin Cash to these more developed networks, but traders consider that further the cryptocurrency is waited by success.

While the Bitcoin, aspiring to new heights, has reached a point of $4000, this week Bitcoin Cash remained at the level of $300 before recent growth. What does the course Bitcoin Cash move up?

The first factor is growth of exchange volume. The Bitcoin and Bitcoin Cash have the general history of transactions, but differ in the fact that only several exchanges advance Bitcoin Cash, it depends the Bitcoin is available to trade everywhere. Some new exchanges can shortly add support of cryptocurrency. Considerable interest in new currency, first of all, has been expressed at the South Korean exchanges. On August 18 from $2 billion total amount of the auction of Bitcoin Cash about $1,2 billion have been carried out only at the Korean exchanges: Bithumb, Coinone and Korbit. Such strong regional indicator indicates increase in demand, however, so far it is unknown whether the sellers wishing to sell the tokens, or buyers who want to buy them influence him. Before rapid growth, demand for BCH was rather low, and it has increased approximately ten times in the last 24 hours.
The second reason of the growing course it is possible to note participation of mayner. Bitcoin Cash cost, as well as other cryptocurrencies, is defined by technologies and economy. As well as with the "arising" network of the exchanges, it was unknown how many mayner will be able to support Bitcoin Cash in the first week after split. Successful work of a blockchain requires enough the mayner ready to allocate computing power for safety of transactions.

During split the few mayner have decided to join Bitcoin Cash, and the chaotic mechanics of split of Bitcoin complicated production of new coins. When the price of a new altkoin was $300, many mayner didn't doubt what cryptocurrency it is more favorable to maynit.

As expected, on these days off the level of complexity of production Bitcoin Cash will decrease approximately by 50%. Many consider that with recent rise in prices it will simplify a cryptocurrency mining. However, further prospects of new cryptocurrency remain a riddle.