Bitcoin Users Want to Know the Value of Bitcoin Cash

In theory there is a lot of Bitcoin Cash. Bitcoin created a fork in its blockchain and Bitcoin Cash was born. Considered a modified currency because it was not created on its own, Bitcoin Cash’s blockchain still holds all of the transactions held by the mother blockchain but is now forging ahead on its own. Post-fork Bitcoin users automatically doubled their holdings. One modified cryptocurrency was created for every original cryptocurrency owned. So that’s a lot of Bitcoin Cash. And how much is it worth? At the time of this writing, anywhere between $350 and $680. But first a user has to access their Bitcoin Cash.

Bitcoin users interested in selling their newly acquired Bitcoin Cash are faced with several obstacles. The first two major complications: Not all exchanges are participating and blockchain development is slow. These factors, combined with users’ lack of confidence and supposed over-valuation, are keeping Bitcoin Cash in users’ pockets and not on exchanges. So while that might be frustrating to those who want to access Bitcoin Cash right now, it is keeping Bitcoin Cash’s value at the high end. when will the ride end? Predicting Bitcoin Cash’s value requires a closer look at the reasons why this cryptocurrency has limited liquidity.

First, not all exchanges recognize it. Exchanges knew weeks, if not months, beforehand that a fork was going to happen. Coinbase, a major cryptocurrency exchange, already made it clear that it would not recognize Bitcoin Cash. Users who received post-fork Bitcoin Cash but who use Coinbase have no way to access that cryptocurrency. At least for now. Analysts predict that if Bitcoin Cash retains its high value then those exchanges will likely recognize the modified currency. Those who have private keys or use other exchanges do have access but that access is limited because mining Bitcoin Cash is slow. The blockchain has not matured enough to reach the speed of current Bitcoin transactions which typically require six to seven blocks before deposits are credited.

With limited Bitcoin Cash on the market, its price has gone from highs of $680 per Bitcoin Cash to lows of $350. Still cryptocurrency users are wary of these numbers. Some see them as artificially inflated due to lack of liquidity. As soon as mining becomes more effective or users find alternative ways to access their Bitcoin Cash then the value could crash downward as the modified currency floods exchanges.

(Visited 10 times, 1 visits today)
Dil Bole Oberoi