Bitcoin Cash: the future of new cryptocurrency is not clear yet
The split of bitcoin from August 1 followed a mild scenario: a new branch of bitcoin network separated, capable of generating its own cryptocurrency (Bitcoin Cash, BCC or BCH). The core bitcoin network remains unchanged, save for insignificant price fluctuation.
In the morning of August 2, one BCC was worth $320, and Bitcoin – $2700 (data provided by Kraken exchange). According to Forklog, the first block of Bitcoin Cash was mined at 06:00 pm on August 1. Five hours earlier, an announcement had appeared on btcforkmonitor.info, saying that Bitcoin Cash nodes were fully operational.
Not all cryptocurrency exchanges agreed to support the new currency (BCC or BCH). Also, it is still unclear what future prospects it has. The Internet portal Meduza posted a brief selection of opinions expressed by experts on the web. They include assumptions that predict the possible depreciation of Bitcoin Cash (such a scenario is likely to happen in case the core BTC network successfully solves the scaling problem).
If keynote market players (major miners, exchanges, and ordinary users) positively take the new currency, its price will be growing. According to the optimistic scenario, BCC will become a successful altcoin, just as it already happened with Ethereum Classic after the analogous fork in the Ethereum network.