Bitcoin vs Bitcoin cash: What is Bitcoin cash? Latest prices
Bitcoin: Martin Lewis gives advice on cryptocurrencies
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Bitcoin has faced volatility in recent weeks following a series of setbacks. Tesla CEO Elon Musk condemned the number of fossil fuels Bitcoin miners use, posting a lengthy statement on Twitter. Cryptocurrency mining operators, including Huobi Mall and BTC.TOP has suspended operations which also sent the price of bitcoin on a downwards spiral.
Smaller cryptocurrencies, including Dogecoin, have seen spikes in interest, while bitcoin investors consider what to do next.
Despite the recent dips, in the past 24 hours, bitcoin has seen a 16 percent increase.
At the time of writing the cryptocurrency sat at $38,280.52 (£27,039.45), with a market cap of $716.49 billion (£506.09 billion).
The low over the past 24 hours was $32,625.05 (£23,044.70) at 7.59pm BST on Sunday.
Read More: How much Ethereum is there? What is its circulating supply?
Meanwhile Ethereum, XRP and Cardano have seen surges over the past 24 hours.
Ethereum sits at $2,585.38 (£1,826.18), a 35.82 percent increase, XRP at $0.882416 (£0.62), a 26.87 percent increase and Cardano at $1.53 (£1.08) a 33.27 percent increase in the last 24 hours.
Meanwhile, Bitcoin Cash (BCH) has seen a surge of 31.08 percent in the past 24 hours.
BCH was at $669.25 (£472.72) with a $12.54 billion (£8.86 billion) market cap at the time of writing.
So what exactly is Bitcoin Cash?
Created in 2017, bitcoin cash is a split-off of bitcoin, known as a “fork” in crypto terms.
BCH was created to solve some of bitcoin’s issues as it grew more popular.
Bitcoin, which runs on a decentralised ledger system known as blockchain, can only process a maximum of seven transactions per second, making it less-than-ideal crypto for everyday transactions.
According to Coindesk, bitcoin cash sparked a trend of creating new cryptocurrencies by forking the Bitcoin blockchain.
Measured by market capitalisation and active users, Bitcoin Cash is the largest Bitcoin fork.
The latest data suggests bitcoin cash is on an upwards trajectory, with investors jumping on the cheaper alternative to BTC.
Graphs from Coindesk show the price of BCH surging.
How to buy BCH in the UK
Buying bitcoin cash can be done on cryptocurrency exchanges like Binance.
All you need to do is create an account, verify it and then make a deposit.
Then select BCH from the currencies section and then check the details before confirming the purchase.
For those wanting to invest, the Money Advice Service warns investing in cryptocurrencies can be very risky.
This is due to their unstable nature, with prices often declining as well as increasing.
There is also the risk of fraud and a lack of regulation in the cryptocurrency market.
So make sure you invest carefully, and through reputable sites.
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