Bitcoin Cash (BCH) as a fork product from Bitcoin, the original cryptocurrency. BCH at the same time makes up for the first fork ever to be derived from Bitcoin after which dozens of forks followed up – it is no wonder that this is the case since there are numerous tools available online that enables anyone to make a fork out of Bitcoin, Perhaps this was after all the original idea of Satoshi Nakamoto, the anonymous father of blockchain technology and the first crypto asset ever to be created Bitcoin.
Bitcoin and All its Forks
Bitcoin Cash (BCH) stands for the first fork ever to be derived from Bitcoin. After BCH was born, many forks followed up, and that is how in accordance with data available on BitMEX research there were 44 different forks that followed the original fork that created Bitcoin Cash.
Forked out of Bitcoin nearly a year ago, in August 2017, Bitcoin Cash was created due to the dispute regarding the implementation of SegWit into the system of Bitcoin. Since the fork from which Bitcoin Cash emerged, we could see new forks with the word “Bitcoin” being made into a flattering prefix for many forks that followed Bitcoin Cash.
That means that even though there were no disagreements around the new integrations or system updates, it is said that Bitcoin now has 44 forks made out of its original blockchain, meaning that nearly 50 forks were created during the course of less than a single year.
That is how you could see forks named like Bitcoin Gold, Bitcoin God and Bitcoin Pizza (of course there would be a fork named Bitcoin Pizza, right after the fork named Bitcoin God!), trading right next to Bitcoin and Bitcoin Cash, alongside with other top cryptos.
However not all of the 44 forks survived in the market as the majority of the mentioned fork just couldn’t collect an adequate rate of trading volume, but some did manage to get past the rough currents of the crypto market.
Some like Bitcoin Cash, which is Bitcoin’s first fork ever to be created, did gain the needed attention in the market as we can now see BCH trading as the 4th-best currency on the global coin ranking list.
How Bitcoin Cash Might Be the Most Successful Bitcoin Fork
It might be enough to say that Bitcoin Cash (BCH) is currently ranked among the top 5 cryptos, specifically holding the spot of the 4th-best crypto in the market, in accordance with global coin ranking list.
Alongside with being ranked as the top coin, Bitcoin Cash has a pretty flattering price per one unit, meaning that BCH is being traded at the price of over 1.100$ at the current moment, although it is slowing down due to the recent market trend.
The mentioned price isn’t even the best we have seen from BCH as this crypto managed to reach a record price of around 4.000$ per one Bitcoin Cash unit, which was marked as a massive success, also making BCH one of the most promising forks by far.
During its development in the technical sense and in oppose to the market trends during the time of its availability, the majority of the mentioned 44 forks derived from Bitcoin, weren’t even heard of.
The exception is Bitcoin Gold, which is currently ranked as the 26th-best currency according to its market capitalization. However, Bitcoin Gold can’t get near the 4th ranked Bitcoin Cash.
If you add the fact that Bitcoin Gold is worth around 50$ per one unit, BTG does make up for a great investment, however, it isn’t even near the price that BCH is holding at the moment.
On the side with the price, Bitcoin Cash has also made a remarkable move during the last week when it extended blockchain size by upgrading its protocol, which makes it more advanced in oppose to its BTC fork buddies.
Bitcoin Cash and the Market
Bitcoin Cash (BCH) isn’t doing that bad given the fact that the market is once again showing severe signs of sluggishness for the past couple of days.
Following the latest trend adopted in the market, BCH is trading in the red while dropping against the dollar and trading in the red in oppose to BTC.
After the most recent change in the market during the course of the last 24 hours, BCH has dropped by -3.97% against the dollar while we can also see it dropping against BTC by over 2%.
Following the latest change in its trading volume, Bitcoin Cash (BCH) can now be traded at the price of 1.181$ per one unit, which is still far from its record price of above 4.000$ per one unit as set back in December.