Bitcoin Cash on a mountainous weekend

The cryptocurrency which appeared as a result of the hard-fork of Bitcoin has shown very positive dynamics. The initial projections were that this digital currency is not going to attract many investors, as they will view this new currency not as a new opportunity, but rather, a by-product of Bitcoin evolution. However, during the first month of its existence miners and investors demonstrated a growing interest in Bitcoin Cash. This interest opened the doors to the 3rd place in the list of most popular and capitalized cryptocurrencies.

If we look at the graphic from Coinmarketcap, we will see a noticeable growth of Bitcoin Cash since Thursday, 17 August 2017, from $380 to more than $800 on Saturday. As the currency was growing, more and more articles and positive media comments on its success started to appear, although even before that growth some suggested that the currency might be overrated. The situation changed, however, in Saturday, 21 July 2017, around 16:00 UTC. The price started to drop from $890 on Saturday to $728 at the press time.

Source: CoinMarketCap

Could it be just a correction or maybe what some experts suggested finally came true and the Bitcoin Cash bubble has finally bursted? Time will show.