Bitcoin Cash, a splinter cryptocurrency, was hard forked from the original Bitcoin currency. The term fork means that the technology used for original Bitcoin cryptocurrency has been applied to Bitcoin Cash. At the time when Bitcoin Cash was released for circulation on August 1, 2017, all Bitcoin holders were awarded an equal amount of Bitcoin Cash and the same has been recorded into Bitcoin Cash forked blockchain.
The rise in Bitcoin Cash price
Like all cryptocurrencies, Bitcoin Cash suffered a loss when in early September 2017 Chinese regulators revealed that they had banned initial coin offerings and cryptocurrency exchanges. The Bitcoin Cash price attempted to rally from the downturn, but it could increase by $200-$300 during September 21 to October 21. However, the price increased by more than 50% is the last week of October 2017, moving closer to $700.
The Bitcoin Cash price is believed to be fueled by the following three factors.
- Bitcoin gold failed to perform well during pre-release trading, which confirmed the belief that investors and traders are experiencing “fork fatigue”.
- The cryptocurrency got more exposure when a larger number of web stores started to accept Bitcoin Cash as a payment option. WikiLeaks Shop’s decision to add Bitcoin Cash payment added another feather in its cap.
- The announcement of November 13 hard fork to upgrade difficulty adjustment algorithm (DAA) of Bitcoin Cash to stabilise the network’s blocktimes, which have often experienced fluctuations because of miner manipulation.
Where to sell BCH Australia?
If you are planning to sell Bitcoin Cash Australia, KryptoXchange is an online platform you can count on for easy, fast and uninterrupted experience.
Sell Bitcoin Cash in minutes
KryptoXchange processes transactions in minutes. Once you create an order with the amount of Bitcoin Cash you want to sell, we complete the sale immediately so you get your coins fast.
Get the best price
The price of Bitcoin Cash fluctuates over time, however we offer the best deal on the market, allowing you to sell your Bitcoin Cash at the best price possible.
Selling Bitcoin Cash through KryptoXchange’s user-friendly platform is as easy as pie. You just need to complete a few steps and you get your coins in your account.
Only authorised users are permitted to log in to KryptoXchange and access their accounts. By choosing us, you are choosing a secure platform to exchange your Bitcoin Cash for fiat money.
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