As Bitcoin Prices Soar, Forked Rivals Face Different Paths

Bitcoin’s stellar rally close to the $10,000 mark appears to have boosted the prices of its recently forked spin-offs bitcoin cash (BCH) and bitcoin gold (BTG). But can they maintain that momentum?

Rival cryptocurrency bitcoin cash has something of a parasitic relationship with bitcoin, in that it not only benefits from the surge in interest in cryptocurrencies due to BTC’s astonishing price rally, but it also does see gains in bouts of correction to bitcoin prices.

Bitcoin cash has gained 416 percent from Sept. lows near $300, while the parent cryptocurrency has gained 235 percent over the same period. However, on a year-to-date basis, bitcoin is up almost 900 percent. It remains to be seen if bitcoin cash can surpass that benchmark before its first anniversary on Aug. 1, 2018.

Bitcoin cash clocked a record high above $2,400 earlier this month. As of writing, it is changing hands at $1,600; down 3 percent in the last 24 hours, as per CoinMarketCap

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