Bitcoin cash exists since August 1st, 2017. Since that day bitcoin cash has a price. When you click ‘All’ for example you will see that there is no data available before that date. You can adjust the range of the graph by clicking one of the buttons above.
The bitcoin cash value that’s shown in the graph is determined by taking the average of several international exchanges. The chart is always up to date.
What is bitcoin cash?
Bitcoin cash (BCH) and bitcoin are very similar in words, in order to prevent confusion it’s important to understand that bitcoin cash is a fork of bitcoin, and that they are not the same cryptocurrency.
The inception of Bitcoin Cash was on August 1st, 2017, the day it forked from Bitcoin. A hard fork is a split in the blockchain. bitcoin cash and bitcoin therefore share the same transaction history up until August 1st, 2017, but are now completely separate.
The hard fork which created bitcoin cash is the result of a discussion in the crypto community on the subject of scalability. The scaling problem concerns Bitcoin’s struggle to process the large amount of transactions on the Bitcoin network.
Looking for a sustainable solution, the community was divided in two. Unable to find a compromise, a hard fork was implemented:
- Bitcoin Cash believes larger transaction blocks will solve the scaling problem. When more transactions fit into one block, transactions will be processed faster. The block size of bitcoin is 1MB, bitcoin cash initially increased the block size to 8MB. But since May 15, 2018, the block size has increased more so. The current block size is 32MB. This is the biggest fundamental difference between Bitcoin and Bitcoin Cash.
- Bitcoin sees SegWit as the solution. SegWit is a method to separate the signature information from the transaction block. As a result, the space of the transaction blocks is distributed more efficiently, therefore more transactions fit in one block. SegWit also clears the way for applications such as the Lightning Network and Atomic Swaps.
How does the bitcoin cash price develop?
It’s hard to tell what the future will bring sice bitcoin cash is a relatively new coin. Since bitcoin cash originated, the coin has experienced several heavy price movements. Here is a break down of the historical price movements and what it is worth:
- July 2017 The bitcoin cash hard fork is announced and the speculating begins. On July 24 the estimated price for bitcoin cash is 500 dollars.
- August 2017 Bitcoin cash forks from bitcoin. The estimated price of 500 dollars seems like a stretch. Its rate is 306 dollars.
- August 2017 One day later, the price momentarily soared to 700 dollars.
- December 2017 Bitcoin cash reaches its all-time high so far of 4,000 dollars.
- June 2018 BTC Direct starts trading bitcoin cash
Only invest an amount that you can afford to lose
Last but not least, we always recommend investing an amount of money that you can afford to lose. In our opinion, investing in cryptocurrencies is one of the more interesting investments you can make, but equally it can be risky due to its volatile behaviour.