Despite recent split and instant success of newly created Bitcoin Cash, bitcoin itself grew 16% since Friday. BTC is currently traded at around $3 268. Experts evaluated the importance of the hard fork for the future of bitcoin differently, yet it seems like nobody has ever expected the world’s first cryptocurrency to reach new record heights just one week after the split.
The exchange rate of bitcoin (BTC/USD)
“The miner-orchestrated hard fork has had limited traction and will not impact the price or future development of bitcoin. The activation of SegWit is a significant milestone in bitcoin’s technological evolution,” says Aurelien Menant, CEO of a Hong Kong-based Gatecoin Ltd.
At the same time the price of Bitcoin Cash, valued by the market at $900 at one point of time, has plummeted 67% to around $265. The difference in capitalization is also stunning, Bitcoin Cash can boast combined market value of $4 356 000 000, or twelve times less than the original cryptocurrency. Still, Bitcoin Cash is the world’s fourth largest cryptocurrency in terms of the market cap.
