It has been a week since the fork between Bitcoin and Bitcoin Cash. In that time Bitcoin has gone up about 18% from $2,750 to $3,250. Bitcoin Cash meanwhile has dropped 31% from $290 to $200.
There may still be hope for the beleagured forked currency though:
- Despite the drop Bitcoin Cash is still among the top coins by market capitalization suggesting that it’s here to stay.
- Several websites – such as Coinbase – won’t fully support Bitcoin Cash for another few months. As web adoption slowly spreads demand could yet go up.
- Bitcoin is due to have its own “soft fork” to SegWit – a system that will help expand Bitcoin’s transaction capacity and alleviate congestion concerns. There are plenty of people opposed to it though and if its rejected and no alternative plan to increase Bitcoin’s capacity emerges, Bitcoin Cash could rapidly take over Bitcoin’s mantle.