As Bitcoin prices started to retreat and the world of altcoin has also fallen sharply, Bitcoin Cash (BCH) became one of the few digital assets keeping its weekly gain. BCH selling industry was also brought down at around 7% in the previous day which amounted to $1,645.99. Even so, assets are still up a net of 14% this week being one of the top 10 coins that are still keeping its gains.
The planned non-contentious hard fork on May 15 is seen as one of the immediate reasons behind the rise of its gains due to its increasing exposure of the assets and the continuous amplifying of the hype.
With no indications of easily crossing the $10,000 barrier, Bitcoin’s price seemed to stagnate reaching an amount of $9,600 as the hard fork asset has started to look more appealing.
With the rapid appreciation of BCH from the previous week, the BTC-BCH exchange has been seen as the most active one on Changelly. Even as the automatic exchange service has seen such instance before together with BCH’s rapid runs, the selling mostly of depressed prices have even followed the hype.
In the BCH market prices perspective, the Korean markets are responsible for the asset trades that has reached above $1,700.
The current adjustment for the boost of the BCH prices has also been one of the difficult things for the mining industry. In their temporary state, only around 4% is profitable to mine on the Bitcoin Cash block chain as in the same time Bitcoin block chain still has 20 times higher transaction fees.
At the moment, trading volumes behind the recent price climb, as compared to that of last year, have been subdued. With the current situation, it is still unknown whether the volumes of $1.1 billion in 24 hours can sustain the climb in the case selling of resumes. .
Although fewer outright talks of a “flippening” is being talked about, the Bitcoin Cash community still continues to give their hope on the Bitcoin brand with the BCH transactions still around 10 times lower as compared to those on the BTC network. Additionally, the Litecoin and Doge Coin networks often achieve higher traffic than those compared to Bitcoin Cash.