Today, the market has again experienced a rise their prices, in concordance with what happened last week, when prices experienced a bull period in which all cryptocurrency values gained a significant percentage. The main winner today is none other than bitcoin’s forked sibling, bitcoin cash, that has managed to maintain a rise of more than 18% today, starting this week with a marvelous performance. Bitcoin gold, another fork has also gone up more than 25%, a great growth for a young, decentralization based altcoin. And last, but not least, bitcoin has also reached a milestone: it managed to cross the $9,000 mark.
The forecast for the second quarter was positive, having rises prognosticated virtually from all sides; but people did not see it coming so fast and hard. Bitcoin Cash has managed to double its market value in a week, a fact that reminds us about December of last year when prices skyrocketed. This happens in advance to their next planned improvement update, that will let more users transact with the coin while keeping fees low. Also, Bitmain’s mining pool has agreed to “burn” (lose) some of its fees to restrict the coin availability in the market, something that has surely helped it to reach this level in the market. The BCH chart is shown below.
Also, bitcoin, who had been quietly and steadily rising has managed to reach the 9,000 dollar mark, making a comeback. Bitcoin prices had not been at this level since more than a month ago when it grazed this mark briefly. It is expected to keep rising and driving up the value of other altcoins, that even when decoupled, follow its market behavior.
The surprise performer is also a bitcoin sibling, Bitcoin Gold. The decentralization focused fork has managed to do pretty well, reaching $80+ prices. The main focus of this fork is to be ASIC resistant, that is, to be mined with the same performance by GPUs and CPUs alike. To say it shortly and clearly, it is a great time to own cryptocurrencies. Investors and miners should be happy. All charts and prices were taken from CoinMarketCap.