Bitcoin Cash Continues Exploding As Rest Of Crypto Market Stallsbr>
The legacy bitcoin train slowed a bit today. At mid-morning, BTC was sitting at $8,900 per single coin after rising over the weekend as high as the $9,200 level.
While the godfather of cryptocurrency has stalled, upstart Bitcoin Cash continued roaring ahead. Bitcoin Cash was at a healthy $1,300 level at mid-morning, up 11 percent over the last 24 hours and blowing away the field of mostly price-stalled coins. BCH is up more than 80 percent over the last month.
The skyrocketing BCH price appears to be related to an upcoming Bitcoin Cash fork. The fork, set for May 15, will allegedly increase the processing power of BCH by increasing block sizes from 8 MB to 32 MB, removing the SegWit protocol. The new coin created will replace the old Bitcoin Cash coin and no dividend or free coin is anticipated, but that hasn’t stopped rumors and speculation.
Bitcoin market highlights for the 24 hours ending April 23, 2018 at 1:00 pm U.S. Eastern Time
The highest price seen was $9,213.84 on the HitBTC exchange at 1:54 pm yesterday. HitBTC saw $53,281,500 of bitcoin change hands.
The lowest price seen was $8,546.99 on Simex’s exchange at 7:18 pm yesterday. Simex’s 24 hour volume was $45,863,000.
The average price on the surveyed exchanges, as weighed by volume, was $8,853.75.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 43.3. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 9 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.