We Know About Bitcoin, But What Is Bitcoin Cash?! - Forex News by FX Leaders

We Know About Bitcoin, But What Is Bitcoin Cash?!

Posted Thursday, October 5, 2017 by
Shain Vernier • 2 min read

Over the past month or so, we here at FX Leaders have covered the exploding cryptocurrency markets in depth. Real-time analysis, trading signals and news updates have been available on a near-daily basis.

Bitcoin CashBitcoins Have Become A Player In The Financial Arena. Will Bitcoin Cash Follow Suit?

Today, a brief look at a newer cryptocurrency asset called “Bitcoin Cash” is on the docket. By now we all pretty much know what a Bitcoin (BTC) is. So, what the heck is Bitcoin Cash (BCH)?!

 

Bitcoin Cash

Ok, the truth is the creation of Bitcoin Cash (BCH) is complex. Without having a background in computer programming and working knowledge of cryptocurrencies, the hows and whys behind BCH can be a challenge to understand.

The best approach to explaining BCH is to keep it simple. Below are a few of most important aspects of BCH as they relate to us traders:

  • BCH is a peer-to-peer form of electronic cash.

  • BCH is the fourth largest cryptocurrency in terms of market cap.

  • Currently, it is valued at $358.25 per BCH.

  • BCH has a circulating supply of 16.7 million units.

Perhaps the most important aspect of BCH is that its value does not follow BTC in lockstep. It can be used as a diversification tool, similar to Ethereum, Litecoin, and Ripple.

Overview: If it has a pulse we can trade it. BCH is showing 24-hour volatilities upwards of 5%. The float is much the same as BTC, meaning that it is limited and susceptible to rapid swings in value. This characteristic makes BCH a potential target for active trading.

From a macro perspective, the world of cryptocurrencies is brand new. In order to successfully navigate these exciting markets, be sure to take the time and select a reputable broker.

Performing your due diligence before jumping in with both feet is a must. Staying tuned to FX Leaders or implementing a social trading platform can help you stay on the competitive lead lap.

As always, trade smart and for tomorrow!

 
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About the author

Shain Vernier // US Analyst
Shain Vernier has spent over 7 years in the market as a professional futures, options and forex trader. He holds a B.Sc. in Business Finance from the University of Montana. Shain's career includes stretches with several proprietary trading firms in addition to actively managing his own accounts. Before joining FX Leaders, he worked as a market analyst and financial writer.
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