The cryptocurrency world is full of surprises lately. Every day, there’s a new twist or turn, and the leading coins are advancing, but not as much as they would like. Legacy Bitcoin or SegWit1x (BTC), Ethereum and Litecoin jumped up a little, only to be back down by around 2% in the latest trading. Everyone seems to be attracted more to Bitcoin Cash (BCH), lately, and with good reason.
There’s no doubt that Bitcoin Cash is a true contender to lead the way in the cryptocurrency evolution. BCH has made a stronger rebound and its performing better than BTC, Ethereum and Ripple—a pretty impressive feat. As the cryptocurrency world continues to evolve, it’s quite possible that the momentum BCH is gathering is just the beginning of a long, very prosperous future.
Despite a recent dip in its price, BCH is up as much as 27%. BTC and Ethereum have only seen gains of around 4% in the same period. This trend is certainly not any type of official analysis of what could be coming down the pipe, but it has served to raise more than a few eyebrows and increase the interest in the cryptocurrency.
A lot of how cryptocurrencies perform hinges on the success of the coin that started it all, BTC. While there isn’t an intrinsic relationship between the two, there is a still a strong correlation between BTC’s performance and the performance of most other coins. When BTC took a nosedive recently, it grabbed onto BCH and took it along for the ride. BCH lost value against both the U.S. dollar and BTC before bouncing back greater than its predecessor when measured by percentage of gains.
This year is going to be a fascinating year to watch, and be a part of, the cryptocurrency markets, especially with BCH making moves. BCH is by far the leader of all the forks spawned from BTC. While SegWit Gold (SWG) hasn’t completely vanished, it’s talked about less often than the Tyson-Holyfield fight from 1997. It’s not unrealistic to think that BTC may have now reached the end of its usefulness, opening the door for Bitcoin Cash to take over.